“Money Safe Protection” Service

Individual account or single-sign joint account can apply for the MSP Service through online banking, mobile banking or in person at any of our branches. If the account is a non single-sign joint account, the account holder(s) with effective authority under the signing arrangement shall visit any of the Bank’s branches in person to apply for the MSP Service.

Yes. Since single-sign joint account is any-one-to-sign effective, any one account holder can apply for the MSP Service through online banking , mobile banking or in person at any of our branches. If the account is a non single-sign joint account, the account holders with effective authority under the signing arrangement shall visit any of our branches in person to apply for the MSP Service.

1. Set up – The minimum threshold for setting up the protected bank deposit amount is HKD10,000 (or its equivalent in non-local currencies), applications to protected bank deposit amounts below this threshold will not be accepted.
2. Increase – The minimum threshold for applying to increase the protected deposit amount is the same as the minimum threshold for setting up the initial deposit amount, i.e. HKD 10,000 (or its equivalent in non-local currencies).
(For example, if the protected bank deposit amount under this service is HKD17,000, the application for increment to HKD18,000 will be accepted.)
3. Reduce – The protected bank deposit amount less than HKD10,000(or its equivalent in non-local currencies) is acceptable.
(For example, the protected bank deposit amount under the MSP Service is HKD10,000, the application to reduce such amount to HKD9,000 will be accepted.)

Set up – The MSP Service must be applied for in the form of a whole time deposit transaction. The protected bank deposit amount must be the same as the corresponding time deposit transaction amount and must be HKD 10,000 (or its equivalent in non-local currencies) or above.

Individual or joint account holders must submit the application for the release of protection in person at any of our branches and complete the verification process before the release can be processed. Internet banking and mobile banking do not support the submission of applications. For joint accounts, the account holder(s) with effective authority under the signing arrangement (excluding the authorized person) shall visit any of the our branches in person to submit the application for the release of protection.

Upon we have received the application instruction for set up, amount adjustment (Not applicable to Time Deposit Account) and release for MSP Service, It will come into effect immediately.

• Savings Account
• Multi-Currency Savings Account
• Happy Kids Hong Kong Dollar Savings Account
• “South Wealth Connect Multi-Currency Savings Account”
• “North Wealth Connect Savings Account”
• Current Account
• Multi-Currency Current Account
• Integrated Current and Savings Account

• Time Deposit Account
• Wealth Management Connect Time Deposit Account

The MSP Service is available for deposits in HKD and major non-local currencies, depends on the currency provided in the account, including:
CNY, USD, GBP, JPY, AUD, NZD, CAD, EUR, DKK, CHF, NOK, SEK, SGD and THB.

You can access online banking – “My Account” – “Account Summary” – “Money Safe Balance” to view the account(s) under the protection of MSP Service.

You can set up the protection of MSP Service for the latest total available balances of savings account and current account. Please note that if subsequent new funds credited into your savings account and current account, such new funds will not be covered in the MSP Amount unless you apply for the increase of the protected bank deposit amount in this regard.

You should ensure to maintain sufficient available funds in the relevant account(s) to cover existing payment arrangements and also for daily and other ad hoc needs. If an overdraft occurs due to insufficient available balance of your account, you will need to repay the resulting debit together with interest and our charges.

You shall ensure that your debit account has sufficient available balance on one business day prior to the effective date of the Instructions of Auto-sweeping Service . If the available balance in your debit account is insufficient, the Auto-sweeping transaction will fail. We shall be entitled to charge or debit the account concerned with any amount(s) which cannot be collected together with interest thereon and any cost and expenses incurred.

• (Applicable to Savings Account) The protected deposit under the MSP Service will continue to be eligible for interest and other relevant benefits which the applicant is entitled to.
• (Applicable to Time Deposit Account) When the protected time deposit with the maturity instruction of “Principal and interest credited to designated account” has matured, the matured time deposit (together with the interest generated) (the “Matured Amount”) will be kept in the same time deposit account. The Matured Amount will continue to be protected under the MSP Service and to be eligible for the savings deposit interest and other relevant benefits which the applicant is entitled to.

Yes, you can visit to the online banking – “My Account” – “Account Summary” to change the maturity instruction of the time deposit.

When the protected time deposit has matured, the matured time deposit (together with the interest generated) (the “Matured Amount”) will be kept in the same time deposit account. The Matured Amount will continue to be protected under the MSP Service and to be eligible for the savings deposit interest and other relevant benefits which the applicant is entitled to.