• Fri
  • Oct 24, 2014
  • Updated: 6:23pm

Deposit Account

HSBC to cut yuan deposit savings rates from today

HSBC will cut its savings rate for yuan deposits to 0.25 per cent from today, down from 0.45 per cent. A bank spokesman said the cut was to move HSBC in line with the market as other banks had already made similar cuts in their yuan savings rates.

Tuesday, 9 August, 2011, 12:00am

End scams that exploit the blind pursuit of beauty

With the benefit of hindsight and detachment, a scam always looks exactly that when it is revealed in the media. Observers wonder how anyone could be so gullible as to fall for a scheme that was never logically possible. However, the large number of victims are proof that it can be difficult to see through the false promises or illusory benefits on offer.

20 Feb 2011 - 12:00am

'Heritage' mansion perfect for a dim sum tourist hang-out

Just one more month and the Mid-Levels mansion King Yin Lei will be restored to its former glory.

SCMP, Sept 3

What former glory? This abandoned house in Hollywood faux style on Stubbs Road is an English architect's design from 1937 and has absolutely no heritage value for Hong Kong at all. None.

5 Sep 2010 - 12:00am

Bankers' losses covered, profits are theirs to keep

But it will now take until 2018 to collect the HK$2.8 billion needed to insure depositors at each bank for up to HK$500,000.

SCMP, April 10

13 Apr 2010 - 12:00am

Changes urged to bank disclosure tack on deposit protection cover

Banks must tell customers whether their accounts or the transactions they conduct are covered by the deposit protection scheme to strengthen disclosure, the Hong Kong Deposit Protection Board suggested yesterday.

19 Aug 2009 - 12:00am

Corrections & clarifications

The front page report 'Public to have say on more deposit protection' published on Saturday said the full deposit protection scheme covers each depositor for up to HK$100,000 per bank. This amount is the limit of the previous deposit protection scheme. The full deposit scheme, introduced in response to the financial crisis, guarantees the full amount of all deposits.

9 Mar 2009 - 12:00am

Public to have say on more deposit protection

A public consultation will be launched next month on extending deposit protection scheme coverage to integrated bank accounts that offer overdraft facilities on a secured basis, such as credit card payments.

7 Mar 2009 - 12:00am

Bank glitch hits 16,000 accounts

About 12,600 customers of Fubon Bank (Hong Kong) were deprived of interest payments of up to HK$26,000 due to a 'technical design error' in a computer program.

18 Mar 2008 - 12:00am

Accounts and interest

Current account: is the most basic bank account. It is useful for managing your money daily, like taking cash from the ATM, depositing cheques or payslips and paying the bills.

Checking account: is the American English word for current account.

10 Mar 2008 - 12:00am

Banker pilfered account to pay for hair treatment

A bank assistant stole from a customer's account to pay for expensive anti-baldness treatment because he was terrified of losing his hair, a court heard yesterday.

Alex Chan Choi-kei, who appeared in Eastern Court with a full head of hair, pleaded guilty to stealing more than HK$355,000 from the account at the DBS Bank.

26 Apr 2007 - 12:00am

Bank teller admits stealing HK$700,000 from clients

A bank teller pleaded guilty yesterday in the District Court to stealing nearly HK$700,000 in cash from 13 clients' accounts.

Ng Wing-fai, 34, a former employee of a branch of DBS Bank on Cheung Chau, admitted to taking cash deposits amounting to HK$1,269,515 from 21 accounts for his own use between October 2005 and January this year.

27 Jan 2007 - 12:00am

Top banks raise deposit rates

Hong Kong's top four deposit-taking banks have raised interest rates offered on fixed-term deposits, but, even after adjustments ranging from five to 25 basis points, the new rates remain well below those offered by smaller banks.

8 Apr 2005 - 12:00am

Compensation? How about $1,000?

Risk is nearly always entirely with the depositor, says banker

Customers who lost their safe deposit boxes were warned yesterday they may only be able to claim $1,000 in compensation.

'This has never happened before ... it is entirely unprecedented,' said a senior manager at Liu Chong Hing Bank.

6 Oct 2004 - 12:00am

Mobile phone company scraps 'racist' requirement for deposit

Customers without Chinese names were charged extra

Mobile phone carrier SmarTone has abruptly cancelled a $3,500 deposit requirement for new customers who do not have Chinese names on their identity cards.

20 Sep 2004 - 12:00am

Interest cut for elderly prompts warnings

Consumer advocates say the higher return is needed, but BEA and Wing Lung point to their bottom line

Bank customers and consumer advocates have voiced concerns over the recent cancellation of a bonus interest rate for elderly people's accounts.

9 Aug 2004 - 12:00am

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