Visi Money
TLDR:
- Hong Kong banks are offering a range of incentives to attract new clients and depositors for the Lunar New Year.
- HSBC is hosting fireworks dinners and horse racing events for select customers, while Citi and BOCHK have organized lucky draws.
- High deposit rates are being used to attract customers, with BOCHK offering up to 3.5% savings rate and HK$27,000 worth of awards.
- Standard Chartered is offering Asia Miles or cash rebates to new priority banking customers, while OCBC is offering rates of 3.8% to 4.5% for time deposits.
- Hang Seng Bank is giving customers collectibles and lucky bags, and BEA is donating funds to Unicef instead of giving corporate gifts.
Hong Kong banks are enticing customers with a range of offers to welcome the Year of the Dragon starting on February 10. HSBC is offering clients dinners with views of the Lunar New Year fireworks and horse racing at the Happy Valley course, while Citi and BOCHK have organized lucky draws. High deposit rates are the most popular ploy lenders use to attract customers. BOCHK is offering 3 percent on savings accounts and up to HK$27,000 (US$3,450) worth of awards to customers between the ages of 18 and 35 who open accounts using mobile phones, while children under 17 years of age get a 3.5 percent savings rate and HK$100. Standard Chartered is offering 40,000 Asia Miles or a HK$4,000 cash rebate to new priority banking customers with deposits of at least HK$1 million. OCBC’s rate for Hong Kong dollar time deposits range from 3.8 percent to 4.5 percent for more than HK$100,000. Lucky draws are another popular tool. Citibank and BOCHK are offering cash lucky draws to clients who use mobile apps to send e-lai see during the first two weeks of the Year of the Dragon. The top prize at both lenders is HK$8,888. Hang Seng Bank is giving customers collectibles and lucky bags, and BEA is donating funds to Unicef instead of giving corporate gifts.
