Money Safe Account

"Money Safe" is the latest anti-fraud measure launched by the Hong Kong Monetary Authority, allowing bank customers to lock all or part of their deposits, providing extra protection for these funds.

Money Safe Account

Securely locked deposits

To ensure your funds are safe, Money Safe Account does not support any outflow transactions (including withdrawals, transfers, bill payments, remittances, cheques, cashier order, repayments, debit cards transactions etc).

Reminder: Please maintain sufficient funds in your integrated account for daily and other ad hoc needs.

Interest rate of Money Safe Account is the same as that of the integrated account of the bank.

No service fee and minimum account balance requirement.

Support multi-currency deposits and currency exchange.

Support time deposits.

Extra protection during withdrawal

Customers must visit branch in person during business hours to complete the identity verification procedure for fund withdrawal from Money Safe Account.

Please note that once the fund is withdrawn, it is no longer under the “Money Safe” protection.

How to open a Money Safe Account
and deposit funds

Account Opening Process

Click "Open Money Safe A/C" from the list of "All functions"

Acknowledge related account terms and conditions

Link up Money Safe Account with related Integrated Account (all funds will be transferred in/out via this linked account)

Account is successfully opened

Deposit Funds

Transfer deposit

Go to "Local Transfer"

Click "My Account(s)"

Set Money Safe as the
receiving account

Input the transfer amount

Transfer time deposit to Money Safe Account

On my deposit details
page, click "Transfer to
Money Safe"

Terms and Conditions for Money Safe Account ("Terms and Conditions")

These Terms and Conditions together with Terms and Conditions for Accounts and Services and any other applicable terms and conditions (collectively, “Other Terms”) govern your use of the Money Safe Account. You as our customer agree to comply with these Terms and Conditions and Other Terms. If there is any conflict between these Terms and Conditions and Other Terms, these Terms and Conditions will prevail for the Money Safe Account protection. For the avoidance of doubt, activation of Money Safe Account shall not prevent or restrict Bank of Dongguan International Limited (“the Bank”) from exercising its rights under the Terms and Conditions for Accounts and Services to which you have agreed.

Money Safe Account is a service that enables you to segregate a portion of your deposits maintained with the Bank and protect it from fund outflows. It is only applicable to its savings account and time deposit account and supported currencies include HKD, CNY and USD and any other currencies acceptable to the Bank from time to time (“Designated Account(s)”).

Foreign exchange services are available within the Designated Account(s).

After funds are transferred to the Designated Account(s), the following transactions will not be allowed, including but not limited to cash withdrawals (except for cash withdrawal stated in Clause 6 below), transfers (except for transfer stated in Clause 6 below), remittances and all kinds of payments (excepts for bank service fees). You must cancel or not set up any instructions for outgoing funds with the Designated Account(s) (such as autopay, direct debit authorization, standing instructions, remittances, and loan or mortgage repayments, etc.). Funds that are locked-in under Money Safe will not be available for any outgoing transaction. You should be responsible for ensuring there is sufficient available balance in other accounts for meeting daily and other ad hoc needs. The Bank shall not be legally liable for any losses you incur due to the inability to execute any transfers and payment instructions from the Designated Account(s).

You may at any time transfer your time deposit(s) from your integrated account to Designated Account(s). Once the time deposit is transferred to Designated Account(s), upon the time deposit is mature, the matured fund includes its principal balance, interest and the bonus interest awarded from the Rate up coupon(s) (where applicable) will only be deposited to the Designated Account(s).

You must visit the Bank in person for identity verification in order to withdraw funds from the Designated Account(s) to your integrated account maintained with the Bank or early uplift your time deposit.

Funds held in the Designated Account(s) will earn interest at the same deposits rate applicable to your integrated account maintained with the Bank. Rate up coupon(s) (if any) may also be used when setting up time deposits.

The Bank reserves the right to amend these Terms and Conditions from time to time without prior notice. Should there be any dispute, the Bank’s decision will be final.

These Terms and Conditions shall be governed by and construed in accordance with the laws of the Hong Kong SAR.

10.

No person other than you and the Bank will have any right under the Contracts (Rights of Third Parties) Ordinance (Cap.623 of the Laws of Hong Kong) to enforce or enjoy the benefit of any of the provisions of these Terms and Conditions.

11.

If there is any discrepancy between the Chinese and English versions of these Terms and Conditions, the English version shall prevail.