New Wealth Management Experience

 

Every day, you’re moving closer to your next personal milestone. And every day, we stay connected to your world. Now, through an innovative wealth management experience, we will back you up every step of the way, so you can live more, achieve more. 

We place great value on relationships and promises. That’s why we will allocate our wealth management services to suit your needs based on your asset value with us. Whether you are an i-Free Banking, Enrich Banking, Wealth Management or Private Wealth customer, you can look forward to a bespoke banking experience, time after time. Behind everything we do, is our commitment to creating more value together with you.  

 

The Terms and Conditions of the related service will be provided electronically. Please read and accept the related Terms and Conditions. These Terms and Conditions will be available for download and store in the BOCHK website within 30 days of submission of account opening request or transaction instruction. Such information may not be available for viewing or downloading after said specified timeframe. Click HERE to download the Conditions for Services.

Private Wealth /  Wealth Management / Enrich Banking / i-Free Banking “Total Relationship Balance” requirements

 

 

In order to enjoy the exclusive services, benefits and privileges of the Integrated Banking Services, a customer should maintain the “Total Relationship Balance” of the following designated amount or above. If a customer is not able to meet the "Total Relationship Balance" requirement, the Bank may allocate the customer to the appropriate Integrated Banking Services status or withdraw the same and the relevant exclusive services, benefits and privileges enjoyed by the customer at its sole discretion:

Integrated Account Services

“Total Relationship Balance”

Private Wealth HK$8,000,000 or above
Wealth Management

HK$1,000,000 or above

Enrich Banking

HK$200,000 or above

i-Free Banking

HK$10,000 or above

 

i-Free Banking customers aged under 18 are eligible for the waiver of "Total Relationship Balance" requirement. When the customers reach the age of 18, it is necessary to maintain the "Total Relationship Balance" up to the above designated amount to continue to enjoy the services, benefits and privileges of the relevant integrated banking services.

Allocation of Integrated Banking Services status

 

  • The Bank can allocate, vary or withdraw the Integrated Banking Services status of a customer as the Bank sees fit from time to time.
  • The Bank can review and change the setting and arrangement of the Integrated Banking Services status (including but not limited to newly add or cancel an Integrated Banking Services status) from time to time and allocate, vary or withdraw the related customers’ Integrated Banking Services status according to the new setting and arrangement.
  • The Bank can review the Integrated Banking Services status allocated to a customer from time to time. If the “Total Relationship Balance” of the customer is lower than the designated amount as required, the Bank can allocate, vary or withdraw the related customer’s Integrated Banking Services status.
  • After changing or withdrawal of the Integrated Banking Services status, the customer can no longer enjoy the exclusive services, benefits and privileges of the Integrated Banking Services status to which the customer was formerly allocated. Nonetheless, the terms applicable to such exclusive services, benefits and privileges are still binding on the customer until the customer has paid and fulfilled all obligations and liabilities in relation thereto.
  • Apart from integrated banking statement, customers can enquiry your "Total Relationship Balanace" and Integrated Banking Services status via internet banking and mobile banking.
  • Please contact the Bank if you want to maintain your Integrated Banking Services status.

Definition of “Total Relationship Balance”

 

  • Includes the monthly value of the following items under the customer’s name:

(i) the average amount of the total day-end balance of the deposit balance in the savings and current accounts, the principal amount of time deposits, contributed amounts of the Club Deposits, value of the investment assets1(including Securities2, Securities Margin, Bonds, Certificate of Deposit, Funds, Structured Notes, Equity Linked Investments, Currency Linked Investment, Structured Investment, Investment Deposit, Precious Metal / FX Margin, Precious Metals), utilised overdraft balance under the current accounts, life insurance plan3, outstanding balance of other loans4 and the vested balance of the Mandatory Provident Funds (“MPFs”)5; and

(ii) mortgage payments6, outstanding balance and un-post installment balance under the BOC Credit Card7 and the “Total Relationship Balance” of the Master Customer of “Business Integrated Account” 8

  • The “Total Relationship Balance” under the customer’s name includes the “Total Relationship Balance” of all his/her sole-name and joint-name accounts. Actual monthly calculation period starts from the last business day of the previous month to the day before last business day of the prevailing month.
  • All foreign currency balances are calculated based on exchange rates quoted by the Bank from time to time.
  • The relevant calculation results shall be subject to the Bank’s records.

 

1 The Bank calculates the daily market value according to the features of investment products. Unsettled bought quantities of the stock are excluded while securities collateral is included.

2 Local listed securities (including securities settled in Hong Kong Dollar and non-Hong Kong Dollar), China A shares, US securities, specified Singapore listed securities (The value of the specified Singapore listed securities would be calculated on the basis of the closing price at the end of the previous month).

3 Only apply to in force life insurance plans distributed by the Bank as an insurance agent with details as follows.

(i) Investment-linked life insurance plans and "HKMC Annuity Plan" underwritten by HKMC Annuity Limited are calculated based on the Policy Value of the policies ;  Other life insurance policies are calculated based on the Policy Value or Accumulated Net Premium Paid for the policies, whichever is higher ;

(ii) The Bank reserves the right to update the scope of in force life insurance plans from time to time, without prior notice to customers.

4 Other loans refer to the loan products provided by BOC Credit Card (International) Limited (“Card Company”) or the Bank excluding the overdraft under the current accounts, mortgage loans and the payments and un-post installment balance under the BOC Credit Cards.

5 Only apply to the MPFs with BOCI-Prudential Trustee Limited as the Trustee.

6 (i) Excludes any prepayment amount; (ii) For the “All-You-Want” Mortgage Scheme, the next monthly minimum payment will be counted; (iii) For the Reverse Mortgage Scheme, the monthly payout amount is counted, except the first monthly payout amount.

7 BOC Credit Cards refer to the credit cards issued by Card Company.

8 Only apply to the sole proprietorships owned by the personal customers (for sole-name account only) who maintain Private Wealth / Wealth Management service with the Bank. Such sole proprietorship holds the “Business Integrated Account” with the Bank and the customer has registered with the Bank to add the “Total Relationship Balance” of the Master Customers to his/her individual “Total Relationship Balance”. For the details of “Total Relationship Balance” of “Business Integrated Account”, please refer to the relevant product leaflets and terms for the services.

 

Integrated Banking Services exclusive services, benefits and privileges

 

  • Customers of different Integrated Banking Services status can enjoy the respective exclusive services, benefits and privileges. For details, please visit the Bank website www.bochk.com.
  • The Bank can amend, suspend or terminate the exclusive services, benefits and privileges of the Integrated Banking Services status from time to time.

Terms of “Auto-Sweeping Service”

 

  • Integrated Banking Services customers are eligible for applying for HKD, USD and RMB “Auto-Sweeping Service”.
  • “Auto-Sweeping Service” is a service available to the customer’s designated current account with insufficient fund to settle cheque(s) at the cut-off time specified by the Bank.  The Bank will automatically transfer a sum equal to the shortfall from the customer’s designated savings account to the designated current account on the following business day of the Bank, provided that the transfer sum does not exceed the maximum limit prescribed by the Bank from time to time or the maximum limit designated by the customer and subject to the terms and conditions as set out in Clause 1 to 9 below. If the total transfer sum exceeds the maximum limit, the “Auto-Sweeping Service” will not be executed even though the amount of one of the cheques is below the maximum limit.

 

  • The pre-set maximum limit of Auto-Sweeping are as follows:

Integrated Banking Services

HKD account

USD account

RMB account

Private Wealth / Wealth Management /

Enrich Banking /

i-Free Banking

HK$10,000

US$1,200

RMB8,000

 

  • Customers can re-set the maximum limit of Auto-Sweeping (“Self-designated Maximum Limit”) at or below the following amount:

Integrated Banking Services

HKD account

USD account

RMB account

Private Wealth / Wealth Management /

Enrich Banking /

i-Free Banking

HK$100,000

 

US$12,000

 

RMB80,000

 

 

  • If customers cancel the Integrated Banking Services, the “Auto-Sweeping Service” will be canceled accordinglycustomers cancel Integrated Account Services, related “Auto-Sweeping Service” will be canceled accordingly. 

 

     1. Definitions and Interpretation of “Auto-Sweeping Service”

       1.1. Account Holder(s)” means the holder(s) of the Funds Recipient Account and the Funds Source Account;

       1.2. “Business Day” means the day on which the Bank opens for business in Hong Kong and carries out the Banking business of paying or collecting cheques which are drawn by or paid in by customers;

       1.3. “Cut-off Time” means such time of the Business Day designated by the Bank from time to time for determination of the Overdrawn Principal;

       1.4. “Overdrawn Principal” means the total amount of principal overdrawn on the “Funds Recipient Account” as at the Cut-off Time of the Business Day, or the total amount of cheques debited from the “Funds Recipient Account” on that Business Day, whichever is lower;

       1.5. “Funds Recipient Account” means such current account under the name of the Account Holder(s) held with the Bank, which is designated by the Account Holder(s) and accepted by the Bank as “Funds Recipient Account”;

       1.6. “Funds Source Account” means such savings account in the same currency as that of the “Funds Recipient Account” under the name of the Account Holder(s) held with the Bank, which is designated by the Account Holder(s) and accepted by the Bank as “Funds Source Account”.

     2. Subject to these Terms, the Bank shall provide this “Auto-Sweeping Service” to the Account Holder(s).

     3. If the “Funds Recipient Account” is overdrawn by cheque(s) at the Cut-off Time on any Business Day, the Bank will automatically transfer a sum equal to the Overdrawn Principal (“Transfer Sum”) from the “Funds Source Account” to the “Funds Recipient Account” on the following Business Day, upon fulfilling the following conditions:

       3.1. Before such transfer, the amount of the available secured overdraft facility in “Funds Recipient Account” is lower than the Overdrawn Principal (if applicable) or there is no secured overdraft facility in “Funds Recipient Account”; and

       3.2. The amount of the available cleared funds in the “Funds Source Account” is greater than or equal to the Overdrawn Principal before such transfer; and

       3.3. The Overdrawn Principal must not exceed the maximum limit prescribed by the Bank from time to time at its absolute discretion, or the maximum limit designated by the Account Holder(s) from time to time.

     4. The Overdrawn Principal will be subject to interest charges at the standard overdraft rates published by the Bank from time to time. Customers are required to pay the accrued interest prior to the day specified by the Bank.

     5. For the avoidance of doubt, this “Auto-Sweeping Service” is only applicable to overdraft of the “Funds Recipient Account” due to any drawing of cheque(s) from that account. However, despite any automatic transfer effected by the Bank through this “Auto-Sweeping Service”, the Bank is not obliged to transfer any part of the Transfer Sum from the “Funds Recipient Account” back to the “Funds Source Account” if any cheque drawn on the“Funds Recipient Account” cannot be cleared for whatever reason.

     6. It is the Account Holder(s)’ responsibility to monitor and maintain sufficient available cleared funds in the “Funds Source Account” from time to time in order that all applicable instructions, obligations and liabilities on the “Funds Source Account” owed to the Bank or any third party (including any Autopay or direct debit instructions) can be met and/or discharged when any automatic transfer is effected by the Bank from time to time through this “Auto-Sweeping Service”.

     7. Without prejudice to the generality of the foregoing provisions, the Bank may refuse to perform this “Auto-Sweeping Service” at any time without notice and without liability if the “Funds Recipient Account” or/and the“Funds Source Account” is/are frozen for any reason.

     8. Accounts registered for this “Auto-Sweeping Service” must be accounts held with the Bank.

     9. Subject to these Terms, if the relevant transfers are not qualified for this “Auto-Sweeping Service”, any other arrangements which have already been in existence between the parties regarding "Funds Recipient Account", "Funds Source Account", or other accounts or services will be implemented by the Bank accordingly. For the avoidance of doubt, and without prejudice to anything provided hereof, the transfers rendered under this “Auto-Sweeping Service” are governed by these Terms, and that any transfer or transaction provided or rendered under any other arrangements are to be governed by the existing agreements entered into between the parties.

 

Terms and Conditions regarding Giving Instructions by Phone

Notwithstanding the terms of any existing or future mandate and all documentation of Bank of China (Hong Kong) Limited (the“ Bank”, which expression shall include its successors and assigns) for accounts and services (including but not limited to the account opening forms, conditions for services and rules) (collectively, the “Agreement( s)”, as amended or supplemented from time to time), or other agreements or course of dealing between the Bank and me/us, I/we hereby request and authorize the Bank (but the Bank is not obliged) to act on any instructions with respect to investment transactions which may from time to time be or purport to be given by telephone by me/us or by any pers on(s) authorized to operate my/our account(s) on my/our behalf in connect ion with the investment services provided by the Bank to me/us.

In consideration of the Bank’s agreeing to act on the above instructions, I/we as the account holder(s) of the account(s) / customer(s) for the bank services, hereby irrevocably agree that pr ovisions with the following effect (the “Supplemental Clause”) be added to the Agreement(s) entered into between the Bank and me/us, and shall apply to and have effect over the existing account(s) and future account(s ) in my/our name(s) and services provid ed by the Bank to me/us:

 

“Telephone Instructions

(a) The type of investment instructions that can be provided to the Bank by telephone shall be subject to such restrictions, conditions or confirmation procedures as may be imposed by the Bank from time to time for different investment products.

(b) The Bank may, and the customer(s) hereby authorize(s) the Bank to record these telephone communications by writing and/or tape recording and/or any other means, and the Bank may deem such recordings as conclusive and binding evidence of the same as against the customer(s). The Bank shall be entitled to keep such recordings for as long as it considers necessary.

(c) All instructions given or purportedly given by the customer(s) and/or any other person(s) authorized to operate his/their account(s) on his/their behalf with respect to investment transactions by telephone are binding on the customer(s).

(d) Where there are more than one account holder(s)/ authorized signatory(ies) signing jointly, the Bank may, in its discretion, accept and act on telephone instructions given by any one of such account holder(s) singly or any one of such authorized signatory(ies) singly, and are binding on all other customer(s) in all respects notwithstanding the signing arrangement specified by the customer(s) to the Bank.

(e) The Bank has authentication measures in place to authenticate instructions given or purportedly given by the customer(s) or on his/their behalf by telephone or to verify the identity of any person giving such instructions. Nevertheless, the Bank shall not be responsible for any losses, damages, costs or expenses which the customer(s) may suffer or incur as a result as the Bank shall be entitled to rely and act on such instructions which the Bank in good faith and after adopting the authentication measures believes to be genuine. The customer(s) understand(s) and fully accept(s) the risks in giving instructions by telephone including the risk of any instruction being unauthorized or given by an unauthorized person.

(f) The Bank may, in its discretion, refuse to act upon any instructions given or purportedly given by the customer(s) or on his/their behalf by telephone without any reason and without being responsible for any loss or damage suffered by the customer(s) thereby arising and may require his/their confirmation before acting on such instructions.

(g) Unless caused by the negligence or wilful misconduct of the Bank, the Bank shall not be liable for any losses, damages, costs or expenses that the customer(s) may suffer or incur resulting from the exercise of such discretion by the Bank by reason of any cause beyond the Bank's control, including (without limitation) any breakdown or failure of transmission or recording facilities or whatsoever reason, or breakdown of or delay or error in transmission for any other reason.

(h) The customer(s) shall keep the Bank indemnified on demand against all actions, proceedings, claims, losses, damages, costs and expenses reasonably incurred by the Bank which may be brought against the Bank or suffered or incurred by the Bank arising directly or indirectly in connection with its accepting and/or relying on or acting on any instructions given by the customer(s) or on his/their behalf by telephone, unless due to the negligence or wilful default of the Bank.”

 

The terms and conditions set out above shall, with effect from the date hereof, be construed as supplementing and forming part of the Agreement(s) which shall be read accordingly. Unless the context requires otherwise, terms and expressions defined in the Agr e ement(s) has/have the same meanings used in this Addendum.

The terms and conditions set out above shall be governed by and construed in accordance with the laws of the Hong Kong Special Administrative Region of the People’s Republic of China.

General Terms:

  • Private Wealth, Wealth Management and Enrich Banking services are only applicable to personal banking customers aged 18 or above.
  • i-Free Banking service is only applicable to personal banking customers aged 11 or above. i-Free Banking customers aged from 11 can apply for HKD savings account, ATM card and Internet/ Mobile/ Phone Banking services including account enquiries and electronic consolidated monthly statements etc. i-Free Banking customers aged from 16 can apply for Multi-Currency Savings Account and enjoy the services of foreign currency exchange, time deposit placement and payment for designated bills (only applicable to Internet Banking) etc. through Internet/ Mobile/ Phone Banking. i-Free Banking customers can enjoy the full range of Internet/ Mobile/ Phone Banking services automatically at the age of 18.
  • The above products, services and offers are subject to the relevant terms. Please contact the Bank staff for details or refer to this Terms of Integrated Banking Services, Conditions for Services and General Information. Customer can obtain the related documents from our branch or visit the Bank website www.bochk.com.
  • The Bank reserves the rights to amend, suspend or terminate the above products, services and offers and to amend the relevant terms and these terms from time to time at its sole discretion.
  • In case of any dispute, the decision of the Bank shall be final.
  • Should there be any discrepancy between the Chinese and English versions of this service terms, the Chinese version shall prevail.
 

Risk Disclosure:

Although investment may bring about profit opportunities, each type of investment product or service comes with its own risks. For details of the nature of a particular product and the risks involved, please refer to the relevant offering documents. You should seek advice from an independent financial adviser.

This service terms is issued by Bank of China (Hong Kong) Limited and the contents have not been reviewed by the Securities and Futures Commission of Hong Kong.