FAQs

Ping An OneConnect Bank (Hong Kong) Limited (“PAOB”), a wholly-owned subsidiary of OneConnect Financial Technology Co., Ltd. (“OneConnect”) (NYSE:OCFT) and a member of Ping An Insurance (Group) Company of China, Ltd. (“Ping An”) (HKEx:2318; SSE:601318), is committed to establishing a virtual banking ecosystem by optimising customer-centric services through its innovation and sophisticated technology. PAOB was granted a virtual banking licence by the Hong Kong Monetary Authority (HKMA) in May 2019. PAOB is developing diverse business segments including retail banking and SME banking.

As a virtual bank, PAOB does not have any physical branch. If you would like to enjoy our banking services, please download our PAOB APP or PAOB SME APP from App Store or on Google Play , our APPs should be able to fulfill your saving and borrowing needs.

You may contact our Customer Service Representative through the below channel:

Bank Code: 392
Branch Code: 752
SWIFT Code: PONCHKHHXXX

Retail:

You are eligible to open a personal account with us if you are

1. A Hong Kong citizen who holds a valid Hong Kong Identity Card (both 2003 and 2018 version) with age 18 or above;
2. Holding a Hong Kong phone number & Hong Kong residential address;
3. Non-U.S. Resident/ Permanent Resident card /Green Card Holder/Resident Alien

SME:

Your company is eligible to open a SME account if it has fulfilled the below criteria:

1. The Company is incorporated and registered in HK
2. The Company's do not have corporate Director(s) / Shareholder(s)
3. The Company is not a :
   
   
   • Financial Institution
   • International organization
   • Listed Company or its related company
   • Governmental entity
   • Central Bank
   • Non-Governmental Organization
   • Incorporated owner

   PAOB shall review the information of your company and may further request you to provide more information when necessary. Account opening shall subject to PAOB's approval.

• HKD saving account services
• Fund transfer & payment via Faster Payment System (FPS)
• Business installment loan service (for selected clients only )

More services will be available in the near future, stay with us!

No. We have no minimum account balance requirement and using our savings account service is completely free.

Retail:

Simply follow the steps below and you will be able to enjoy our seamless banking services. It takes around 8 minutes to open a savings account!

1. Download PAOB APP here or simply visit your mobile device App store (iOS: App Store/ Android: Google Play) and search “PAOB” for our APP!
2. Hong Kong ID scanning and selfie taking to verify applicants' identity
3. Input your personal information
4. Once approval completed, your savings account will be created!

SME:

Simply follow the steps below and you will be able to enjoy our seamless banking services.

1. Download PAOB SME APP here or simply visit your mobile device App store (iOS: App Store/ Android: Google Play) and search “PAOB SME” for our APP!
2. Hong Kong ID scanning and selfie taking to verify applicants' identity
3. Input your personal and company information
4. Share the QR code to other Director(s) and Shareholder(s) to input information. (If applicable)
5. Once approval completed, your savings account will be created!

Hong Kong Identity Card is all you need!

We accept both 2003 and 2018 version Hong Kong Identity Card.

We currently accept Hong Kong Identity Card.

PAOB strives to assist customers in taking steps or providing alternatives that can help satisfy the account opening processes, therefore, customers may be asked to provide additional information to facilitate the account opening process.

Currently we only accept to open an account using mobile APP.

We currently do not provide cheque related service.

You can request account blocking via our 24 Hours General Enquiry & Technical Support Hotline: (852) 3762 9900

We currently do not provide joint account service.

Conduct any payment or transfer for at least 12 consecutive months or such other period as we may set from time to time.

You may download here or simply visit your mobile device app store (iOS: App Store/ Android: Google Play) and search “PAOB”or “PAOB SME” for our APPs!

The PAOB APP is free to download.

PAOB APP is supported on Apple iPhones with iOS 12.3 or above and smartphones with Android 7 or above

If your device has been modified or being detected as a jailbroken / rooted mobile device, you will not be allowed to continue using our APP. A warning will appear on the screen to inform you that the device is not a proper tool to use our APP since this kind of device might be less secure or may lead to fraudulent transaction. For security reason, please use a non-modified/ non-jailbroken / rooted mobile device to use our APP.

If you are not in Hong Kong and using overseas mobile service providers, the service provider may not support the receipt of international SMS. You may need to activate your roaming service to enable it for completing any instructions. Please note that fees and charges may apply and do consult your mobile service provider for more details before doing so.

We strongly encourage you to keep your banking credentials secure. If you have forgotten your username and password, simply click “Retrieve user ID” or “Forget Password” on the login page of PAOB APP. You should be able to reset your login credentials when the process is completed.

To protect your account, your password should:

1. contain 8-16 digits and letters
2. contain at least one uppercase and one lowercase letter
3. contain one special character
4. not use 5 or more same and consecutive digits or letters
5. not use the username as your password
6. not use the password that being used for past 3 times

You can simply contact our 24 Hours General Enquiry & Technical Support Hotline: (852) 3762 9900, we will take care of it immediately.

You can login to your PAOB APP with your user ID & password or biometric ID. You will be able to view your account details if you have successfully login to your account

We support Touch ID/Face ID for logging to the APP. You would have to trust your device by going to “Settings” in our APP in order to enable biometric authentication.

You can disable the Touch ID/Face ID under the "Settings" drop down menu in our PAOB APP.

Network security is our top priority. We employ the Transport Layer Security (TLS), which is one of the strongest encryption technologies most commonly used by large-scale online merchants, banks, and brokerages worldwide. The online sessions between you and the bank are protected by encryption, which best protects your information against disclosure to third parties. Our web servers are protected with network "firewalls" and our systems are constantly monitored to prevent any unauthorized access. The retention period of personal information provided by customers (including incomplete application) would be in accordance with the internal policy.

PAOB safeguards our customer interest and customer data protection is our top priority. All photos of Hong Kong Identity Card will only be used for account opening and subsequent identity verification (e.g. fund transfer, uplift transaction limit, etc.) PAOB has high standard of cyber security precautions and strict operation guideline to follow.

Our App currently supports Traditional Chinese and English.

You could only access PAOB APP only if you have access to the Internet.

As long as you have access to the Internet with a recommended device, you will be able to access PAOB APP anytime and anywhere.

If you no longer wish to receive any direct marketing materials or messages from the PAOB, please login our APP and find "Edit Personal Info" or contact our 24 Hours General Enquiry & Technical Support Hotline: (852) 3762 9900 to cancel.

Please be noted that once you have disabled this service, we will not be able to notify any latest information to you directly.

If you would like to follow PAOB's latest news, please visit our website: www.paob.com.hk or enable push notification in our APP.

Please visit our website at www.paob.com.hk

If you receive a bogus call, please contact our 24 Hours General Enquiry & Technical Support Hotline: (852) 3762 9900. You may also leave a message to us on our live chat, our customer service officers will contact you by phone or response through the live chat on the next available time.

If you suspect any unusual account activities, please contact our 24 Hours General Enquiry & Technical Support Hotline: (852) 3762 9900.

You may also leave a message to us on our live chat session, our customer service officers will contact you on the next available time.

There is NO minimum deposit requirement for opening an account with PAOB.

You may transfer fund from other banks by Faster Payment System (FPS). Please select bank name Ping An OneConnect Bank （Hong Kong） Limited.

The interest will accrue on your day-end balance after the incoming funds are credited to your savings account.

We accept transfer in HKD currently. Other currencies will be available in the near future

Interest will be credited to your savings account on every the 2nd of each month. The interest calculation period is from the second day of each month to the 1st of next calendar month.

Sorry that overdraft is not available in the savings account

The information of service charges is available on our website and our APP. Please visit here or download our PAOB APP for more details.

You can request account closure via our customer service hotline (852) 3762 9900.

You can place your money for a specific period of time with a Time Deposit Account (subject to a request for Early Uplift which only would be allowed at the Bank’s discretion), where you generally enjoy a higher interest rate compared to a Savings Account. With a Savings Account, you can withdraw or deposit your money whenever you need it.

If you are an existing PAOB personal customer, you can login your account and place a Time Deposit via the PAOB Banking APP at any time.
If you are not an existing PAOB personal customer, you simply need to open account via the PAOB Banking APP. You will then be able to place a Time Deposit once your savings account is successfully opened.

On the maturity date of your Time Deposit, both the principal and interest will be credited to your Savings Account.

You can get your principal back on the maturity date of your Time Deposit.

You might be allowed to request for an Early Uplift and which might be considered (in some cases, approved) at the Bank's discretion. In such cases, you will not be entitled to any interest and you are required to pay an Early Uplift fee in accordance with the Bank’s retail terms and conditions (as amended from time to time).

There are different minimum deposit amounts for different Time Deposit options and you can login to the PAOB Banking APP or browse our website for more information.

PAOB currently only offers Time Deposit in Hong Kong Dollars.

"FPS" is the acronym of Faster Payment System which is a system launched by Hong Kong Monetary Authority (HKMA) in September, 2018. The main functions including:

1) 7 x 24 x 365 real time interbank balance transfer
2) support payments and transfer in Hong Kong Dollar (HKD)

The handling fee is now waived to customer when transfer via FPS (including transfer in and out).

FPS supports the use of predefined Proxy ID, i.e. mobile phone number, email address, or FPS ID(for individual accounts), to identify the payee account. If the payee has registered to use Proxy ID to associate with his/her account through the receiving bank/institution (such as SVF Licensee), the payer may just enter the Proxy ID when transferring funds to the payee account.

If you would like to bind you mobile number with your APP account, simply click "Register FPS" in the APP. You will receive a SMS message to verify your identity. Once the verification is completed, your mobile number address will bind with your APP account.

Each customer can register up to 2 proxy IDs, including mobile number and FPS ID.

We support fund transfer service in HKD currently.

You can login our PAOB APP and you could set your daily and single transaction limit under "Settings" > "Transaction limit Settings".

You should verify carefully the transferee's details (i.e. account number/mobile number/email/FPS ID) and transfer amount before confirming a fund transfer instruction.

There is no cut-off time for FPS. Instructions are handled in real-time at anytime.

If you would like to cancel your payment request, please contact our 24 Hours General Enquiry & Technical Support Hotline: (852) 3762 9900 at the earliest convenience. We will assist you to contact the payee to return the funds on condition that all required information is received by us.

You can register FPS with your PAOB account and transfer the money to other bank accounts for withdrawal.

You can login our PAOB APP and check your balance on the homepage of the APP.

If the merchant app or website supports FPS payment, you can select to pay by FPS and choose PAOB app when prompted. PAOB app will be invoked and you can follow your usual login method. You can then preview the transaction details and click for payment. In the result page, you can click to log out and go back to the merchant app or website. You can also view the status at the merchant app or website.

You can enjoy the service as long as you are a PAOB retail customer with PAOB app installed.

You can switch to the merchant app or webpage manually and view the transaction status.

It is shared with the usual FPS / Intra Bank transaction limit amount set personally.

You can enjoy the service as long as the merchant builds the FPS merchant payment capability.

You can follow the steps below to view the e-Statement:

Step 1: Login to your PAOB APP;
Step 2: Select “e-Statement” on APP homepage;
Step 3: Select the months that you would like to view on the e-Statement

If you would like to receive paper statement, you can request PAOB to send you a physical copy and it will be charged. Please login PAOB APP and select "Request for Paper Statement" under "e-Statement". To be environmental friendly, please note that HKD 100 would be charged for each paper statement.

You can view and download the e-Statement at "e-Statement" in the PAOB APP.

The e-Statement would be generated on the 1^st calendar day of the following month. PAOB will remind you through push notifications, emails and SMS. Do report to our customer service officers at 24 Hours General Enquiry & Technical Support Hotline: (852) 3762 9900 if you have any enquiry.

e-Statements will be recorded for 2 years since the first day you joined the PAOB APP. They are retrievable in the PAOB APP. If you would like to retrieve any statements that are beyond 2 years, please call our 24 Hours General Enquiry & Technical Support Hotline: (852) 3762 9900.

e-Advice will be generated when any transactions are made upon your savings account. You can view it at PAOB APP inbox after login.

If you have any unusual transaction, please contact 24 Hours General Enquiry & Technical Support Hotline: (852) 3762 9900 directly by phone or or live chat session and we will look into that for you. We also suggest you to contact the merchant directly and see if this can be solved.

The Corporation must be a Hong Kong registered company with year of incorporation more than 3 years.

No collateral is required.

Limited company needs to provide personal guarantee of minimum 51% shareholders.

No limitation.

Yes, bank will assess not only applicant's credit reference but also personal credit worthiness of all guarantors/owner/partners up consent obtained

Applicant needs to prepare the following documents：
-HKID of all Director(s) / Guarantor(s) / Sole Proprietor / Partner(s)
-6 months bank statements of 3 major accounts (by request)
-Current facilities’ Banking Facility Letter(s) or loan documents (if any)

Trade-Connect Loan amount ranges from HKD$100,000 to $2,000,000.

Loan tenure options can be 6 months, 12 months, 18 months, 24 months, 30 months or 36 months.

Upon loan approved, disbursement will take place after successfully opened PAOB savings account, company signed confirmation letter and all guarantors need to sign all required documents.

Interest rate varies based on applicant risk rating.

We offer a fixed rate of interest.

Guarantee Fee will be charged for 80% Guarantee Product or 90% Guarantee Product.

Borrower has to open a savings account with PAOB for monthly direct debit repayment purpose.

Yes, monthly repayment amount is fixed and scheduled.

Default interest is charged at 4% per month on the overdue amount from the date of default until we actually receive repayment in full.

There is no overdue repayment fee while overdue interest will be charged.

Yes, early settlement is allowed.

No early redemption fee will be charged.

Phase 1 of Open API has been launched and providing product information for retail customers. Please visit the link below to the Open API platform:
https://openbankapiportal-vb.paob.com.hk/portal/main.html#/./home

JETCO Cardless Withdrawal Service allows you to set up withdrawal instruction in PAOB APP and withdraw cash simply by scanning the QR code at supporting JETCO ATM which locates in Hong Kong without using a physical card.

You can follow the steps below for JETCO Cardless Withdrawal
Step 1: Login to your PAOB APP;
Step 2: Set your daily withdrawal limit for JETCO Cardless Withdrawal in “Settings”;
Step 3: Select “JETCO Cardless Withdrawal” on APP homepage;
Step 4: Set up withdrawal instruction by inputting withdrawal amount;
Step 5: Input SMS OTP;
Step 6: Go to any JETCO ATM with “JETCO Cardless Withdrawal” stickers. Press any key on the ATM PIN Pad and follow on-screen instruction to start;
Step 7: Select “Withdraw Now” on APP and scan the QR code on ATM screen;
Step 8: Collect cash from ATM

No registration is required. All PAOB customers with a valid savings account can use this service.

For JETCO Cardless Withdrawal Service, the maximum withdrawal amount is HK$6,000 per instruction and the daily withdrawal limit is HK$30,000.

Withdrawal instruction is valid for 60 minutes. Once the instruction has expired, you need to set a new instruction.

You can only cancel the instruction before expiry. To cancel the withdrawal instruction please follow the below steps
Step 1: Login to your PAOB APP;
Step 2: Select “JETCO Cardless Withdrawal” on APP homepage;
Step 3: Tap the trash bin icon at the top right hand corner;
Step 4: Tap “Confirm” to cancel the withdrawal instruction;
Step 5: You will receive SMS/email notification once the withdrawal instruction is cancelled.

You can only set up one withdrawal instruction at a time. You can set up another instruction once the withdrawal is completed.

Yes. This service is free of charge.

This service is only available at JETCO ATMs with the “JETCO Cardless Withdrawal” stickers.

Yes. You are required to login to PAOB APP and input SMS OTP for authentication before setting up the withdrawal instruction.

No. Your banking credentials are required to authorize the withdrawal instruction. Please do not share your PAOB APP credentials with others.

Yes, you will receive SMS/email notification upon withdrawal instruction set up, successful withdrawal and cancellation of instruction.

You can access your transaction history either through the “JETCO Cardless Withdrawal” on PAOB APP homepage or the transaction details in your savings account. Withdrawal records will also be included on your e-statement.

We currently support HKD cash withdrawals only.

No. This service is only available in Hong Kong.

Please record the error code displayed on PAOB APP (if applicable), check your withdrawal instruction status via PAOB APP and contact our enquiry hotline at (852)3762 9900 for assistance.

With advanced technology, security device enabled you to register a designated device and use that device for transactions. When you are using your security device to transact with PAOB APP, you can use your self-defined 6-digit PIN or biometrics for authentication, allowing you to enjoy a more secured yet seamless banking services.

To protect your account, you are required to activate the security device in order to perform any transactions or give any instructions via PAOB APP, for example, initiating transfer or editing personal information.

You may only activate one device as security device only. When you are logging in from devices other than your security device, you can choose to update your security device to the new device and the security device on the original device will be deactivated automatically.

To protect your account, there can only be one customer registered a device as security device at one point of time. When another customer login to PAOB APP from your security device, your security device will be de-activated automatically. You will be required to activate the security device again from your next login.

During activation, you will be required to perform SMS One-Time Password authentication and facial recognition. Hence we suggest you to perform the activation under an environment with sufficient lighting and be ready with your registered mobile number to receive the SMS OTP.

You may follow the below steps to activate the security device:

1. Download the latest PAOB APP from Google Play™
store, App Store or designated link from our public website
2. Login to the PAOB APP from your designated mobile device
3. Select “Setup Now”
4. Perform SMS OTP authentication
5. Perform eKYC verification
6. Setup your security device PIN
7. (Optional) Enable biometrics authentication
8. Complete the setup of security device

If you have unfortunately lost your device, we recommend you to contact with our customer service representative to suspend your security device. One suspended, your security device will be disabled and you may re-activate it again upon your next successful login on the new device.

If there is no supported biometric on your device, you may not be able to enable this service.

All registered biometrics on your device will be supported once the biometrics authentication service is enabled. Hence if you have biometrics other than your own being registered in your device, we recommend you not to enable biometrics authentication service. You may still use the security device PIN to perform authentications.

If your device cannot meet our mobile device security requirement, we may not be activate the security device for you on that device. If you have met any difficulties during security device activation, please don’t feel hesitate to contact our customer service representative.

Security device is currently supporting retail customer only and we have planned to extend the service to SME customers as well. Please stay tuned for any updates.