What is "Money Safe"?

"Money Safe" is the latest anti-fraud and scam security feature introduced by the HKMA to help customers more effectively prevent fraudulent and scams risks.

All funds transferred into a "Money Safe" account will be restricted from withdrawal or tranfer through any channels. Customers must visit our branch in person to complete identity verification procedures in order to withdraw funds from the "Money Safe" account and transfer them back to their integrated account maintained with our bank. This arrangement helps reducing the risk of financial losses due to fraud or scams. 

What services does the "Money Safe" account offer?

Our "Money Safe" account provides savings, time deposit and foreign exchange services.

What are the restrictions of "Money Safe"?

Once funds are deposited into the "Money Safe" account, the following transactions instructions will be restricted, including but not limited to 
- cash withdrawals
- fund transfers
- overseas remittances
- all kinds of payments (excluding time deposit early uplift fee or bank service fees)

Customers should be responsible for ensuring there is sufficient available balance in other accounts for meeting daily and other ad hoc needs.

Customers should also avoid setting up any payment instructions in the “Money Safe” account (such as autopay, direct debit authorization, standing instructions, remittances, loan or mortgage repayments and etc.). All funds protected under “Money Safe” account will be restricted from any payment transactions.

How to open a "Money Safe" account?

Customers can apply for a "Money Safe" account via our Mobile App or by visiting our branch in person.

How to transfer funds into the "Money Safe" account?

Customers can transfer funds into the "Money Safe" account via our Mobile App or by visiting our branch in person.

How to withdraw funds from the "Money Safe" account?

Customers must visit our branch in person to complete identity verification procedures in order to withdraw funds from the "Money Safe" account and transfer them back to the integrated account maintained with our bank.

Is there interest on othe funds in "Money Safe"?

Funds in the "Money Safe" account enjoy the same deposits interest rates as those in your integrated account maintained with our bank. Rate up coupon(s) (if applicable) can also be used when setting up time deposits.
The principal, interest and any bonus interest earned from Rate up coupon(s) (if applicable) will be credited to the "Money Safe" account upon maturity.

Can time deposits in the "Money Safe" account be withdrawn early?

Yes, customers must visit our branch in person to complete identity verification procedures in order to early uplift their time deposits.

Can the maturity instructions for time deposits in the "Money Safe" account be changed? 

Yes, customers can change the maturity instructions for time deposits via our Mobile App or by visiting our branch in person.

Will "Money Safe" affect debit card transactions?

No, all debit cards transactions will only be deducted from the corresponding integrated account and will not involve funds in the "Money Safe" account. 

Does the "Money Safe" account provide cheque service? 

The "Money Safe" account does not provide cheque service. 

How to check the balance of the "Money Safe" account?

Customers can check the balance of the "Money Safe" account via our Mobile App > e-Statements, or by visiting our branch in person.

How to cancel the "Money Safe" account?

Customers must visit our branch in person to complete identity verification procedures in order to cancel the "Money Safe" account. 

Which accounts are eligible for "Money Safe"? 

Our "Money Safe" service is applicable for savings accounts and time deposit accounts. Supported currencies include HKD, CNY and USD, as well as other currencies accepted by our bank from time to time.