Thanks to the developments in financial technology, it is now possible to open an online bank account abroad. Of course, having a bank account abroad has some practical benefits. The most important of these benefits is that you can easily pay and receive in different currencies. In order to open a physical bank account abroad by traditional means, you must be resident in the country in question and submit documents for it. But today, thanks to technology, many things are possible and can be taken care of from where we sit. Opening a bank account is one of the simplest banking transactions. Because specific conditions such as credit or credit card are not sought. Almost anyone who applies can have a bank account in Hong Kong from Austria. Also, you do not need a residence permit or residency in Hong Kong for this. From Austria, you can perform many transactions with a bank account opened in Hong Kong. For example, it is possible to withdraw money from ATMs operated by both your bank and other banks, make domestic and international money transfers, and make demand or deferred payments.
In order to open an account abroad, foreign countries and foreign banks may require different documents. Depending on whether you have a residence permit in Hong Kong or not, the documents that the bank will ask from you vary. But basically the required documents are:
– Identity documents such as passport or driver’s license
– Employment documents
– Proof of residence address: You can use the contract of your residence or a utility bill (water, electricity, natural gas) on which your name is printed. Telephone bills are generally not accepted.
When you complete these documents completely, you can apply from Austria to the bank you want to open an account with in Hong Kong. The documents required by each bank may differ. Some banks may charge you a fee to open an account.
Opening a bank account may not be perceived as a subject that requires much research like a credit card or loan at the first stage. However, you should also be careful when opening a bank account in Hong Kong from Austria in order to carry out your transactions smoothly, without interruption, with easy and convenient options. Points to be considered while opening a bank account can be listed as the number of ATMs and branches, EFT and money transfer transactions, annual account maintenance fee and campaigns. Although the number of branches and ATMs of each bank seems very high, there are some banks that stand out in this field. If you have an urgent problem or want to carry out your transactions, if your preferred bank does not have an ATM or branch in your area, big problems may occur. Therefore, it is useful to consider the number of branches and ATMs so that the bank account you will open in Hong Kong from Austria can serve you well. EFT and money transfer, that is, money transfer, are among the transactions that people who have a bank account perform the most via ATM or mobile application. EFT means transferring money to another bank’s account, while wire transfer means transferring money to a different account of the same bank. Although banks usually keep the transaction fees low in money transfer transactions, there can be very high fees when EFT is involved. Since these fees are different in each bank, you should definitely examine the money transfer transaction fee of the bank you will open an account with in Hong Kong before making a decision. In fact, today, there is no annual account maintenance fee for deposits, ie bank accounts. After a legal regulation, the right of banks to demand such a fee has been removed. Instead of this fee, banks can make deductions from the consumer’s account by offering different paid services. For this reason, you should consult all the details with the bank staff and read the contract carefully at the bank where you will open an account in Hong Kong from Austria. You must open the account making sure it is completely free. Banks’ campaigns are not only valid for credit cards. Many campaigns and discounts are offered to customers who also use their debit cards for shopping. At the same time, the system of accumulating points is at the forefront in the debit card, as in the credit card. Before opening an account in Hong Kong from Austria, you can see the special offers for bank accounts on the website of the relevant bank. You should find the most advantageous bank for you and open your account there.