Personal Finance

HK PR: claim your $10000 HKD stimulus package

Thread Summary
1. You can apply for an account online using Za bank. Za is the only virtual bank in HK that allows you to apply directly for the payout. Za is registered / approved / secured by the HK Monetary Authority. Most of the time ZA will grant you an instant account approval but there are reports that you will need to wait up to 5 business days. There are reports that ZA will not open an account for you if your HKID card is issued overseas or you have a child HKID card.
2. You need an HK phone number to receive an sms code for you to sign up for an account at ZA. There is a way to do it using WeChat and the eSender service. Another way is to use 3HK esim which you can get it in Canada provided that you have the correct phone model. There are reports that their WeChat account is locked due to unknown security concerns,
3. Once Za bank account is setup, you apply for the payout directly using Za Bank. Typically once the payout application is submitted, takes a couple of days for it to be received / approved. Once you’re at the pending payment stage, it will take approximately 1 week to receive the funds. You can call HK 182020 and it is an automated system to check registration / payout status by providing your first 4 digits of HKID and last 4 digits of phone number used in registration.
4. Za bank cannot perform international transfers, so you must use another service for currency conversion and to send to yourself. Transferwise is popular and offers good rates. You can also send the money to friends / relatives by transferring using FPS or by directly entering account number. FPS is probably the preferred method as it’s straight forward. To enable FPS, you need to register it in the Za app. Suggest that you UNcheck phone number as a payment method.

See this video that shows you how to use wechat to obtain an HK phone number and then the steps to sign up for a Za bank account.


HSBC
- you probably cannot reactivate your dormant account from many years ago unless you do it in person in HK. There are reports that you can reactivate dormant HSBC account by calling HK and they will send u a form to take it to HSBC branch in Canada. It will take couple months.
- HSBC is allowing applications for bank accounts overseas, but be prepared to pay $200 (unless you are a premiere member), and prepared to spend 1+ hr talking to someone to fill out 15 forms, after you’ve waited on the phone for 3+ hrs for someone to actually answer your car (that’s if anyone actually answers you). This is to fill out the paper work, with no guarantee you will be approved for the account.

BOCHK
- BOCHK also supports app account opening using Canadian phone number & Canadian address but no one seem to be able to get an account opened successfully in this forum.
2195 replies
Deal Addict
Dec 25, 2017
2371 posts
1779 upvotes
You were supposed to include a way to quickly obtain HK PR for free too! I wouldn’t mind HK$10,000 extra in my bank account too!
Banned
Dec 28, 2019
1021 posts
646 upvotes
ONLY for each permanent resident living in Hong Kong, not overseas.

Same as $4000 last fiscal year

Downvote already... jealous Canadian?
Member
Apr 2, 2004
205 posts
103 upvotes
Burnaby
Sgtalpowell wrote: ONLY for each permanent resident living in Hong Kong, not overseas.

Same as $4000 last fiscal year

Downvote already... jealous Canadian?
Might want to check up on the local HK news sources again.

Quite a few FAQs provided by local HK media already mentioned that oversea PRs are also eligible. So it's the same as $6K couple years ago.
Banned
Dec 28, 2019
1021 posts
646 upvotes
satoshi wrote: Might want to check up on the local HK news sources again.

Quite a few FAQs provided by local HK media already mentioned that oversea PRs are also eligible. So it's the same as $6K couple years ago.
Let's wait for the official government FAQ.

I hope you are right.
Member
Apr 2, 2004
205 posts
103 upvotes
Burnaby
Sgtalpowell wrote: Let's wait for the official government FAQ.

I hope you are right.
One of the media FAQ...

It's a bit tricky though since it's lumped into the 2020 budget. The budget proposed for further funding increases and benefits for the HK police force. Once it's tabled to the legislature, I'm sure there will be resistance, and for good reasons too.
Deal Addict
Mar 5, 2006
1813 posts
874 upvotes
Toronto
Will there be another one of those opening accounts thing in HK with BOC?
Banned
User avatar
May 21, 2019
199 posts
155 upvotes
Now we got to ask the Canadian Govt to match this offer. Face With Tears Of JoyFace With Tears Of JoyFace With Tears Of Joy
Deal Addict
Mar 5, 2006
1813 posts
874 upvotes
Toronto
MagicPants wrote: Now we got to ask the Canadian Govt to match this offer. Face With Tears Of JoyFace With Tears Of JoyFace With Tears Of Joy
Price Match, then double dip!
RFD style. Face With Stuck-out Tongue And Tightly-closed Eyes
Banned
Dec 28, 2019
1021 posts
646 upvotes
I just read they are accepting applications in July 2020 and plan to release funds in August 2020.
Banned
Dec 28, 2019
1021 posts
646 upvotes
MagicPants wrote: Now we got to ask the Canadian Govt to match this offer. Face With Tears Of JoyFace With Tears Of JoyFace With Tears Of Joy
Canada government says no; you are FREE to switch to any competitor country.

This place only wants to overcharge and gouge customers in the name of taxes.
Member
Mar 26, 2012
413 posts
267 upvotes
satoshi wrote: Might want to check up on the local HK news sources again.

Quite a few FAQs provided by local HK media already mentioned that oversea PRs are also eligible. So it's the same as $6K couple years ago.
The HK$10,000 cash handout is to all permanent residents, according to the budget speech. You may need to read the fine print in the actual legislation later, because there may be upcoming objections to give the $10,000 to overseas HK permanent residents.

Meaning of HK permanent residents can be found here, that includes those living overseas. https://en.wikipedia.org/wiki/Hong_Kong_residents.

The last cash handout (HK$6,000) to all HK permanent residents (whether local or overseas, and whether rich or poor) was in 2011. The HK$4,000 cash handout a couple of years ago required a means (income) test, basically only to poor or needy local people.
Moderator
User avatar
Mar 23, 2004
44885 posts
10860 upvotes
Markham
afaik it's for all permanent residents, even if you are overseas.

But seriously, I wish this gets voted down. I rather lose the 10k hkd than to give the police additional OT and money for TG/armed trucks :mad:
Banned
Dec 28, 2019
1021 posts
646 upvotes
On TV, it says a husband and his wife getting income tax rebate $20,000 each and this $10,000 each.

Total $60,000 hkd free money

What we get in Canada?
Deal Addict
User avatar
Apr 9, 2006
2438 posts
947 upvotes
YVR
Well for one, you don't get pepper sprayed and beaten just for looking at police the wrong way
Zoomer
Deal Fanatic
User avatar
Mar 8, 2005
5878 posts
952 upvotes
But seriously - I want to open a (HK) bank account here, just to avoid traveling back to pick up my cheque at a post office.

Any ideas which bank is the best bet? HSBC and BoC..
Member
Mar 26, 2012
413 posts
267 upvotes
angel_wing0 wrote: afaik it's for all permanent residents, even if you are overseas.
Yes, that is how the budget speech a few days ago says giving the $10,000 to ALL permanent residents (PR) over age 18. But, I can also see the possible upcoming objections, as to why the overseas hk permanent residents (who have cut their hk residential ties, who dont pay hk income taxes and who may not spend the $10,000 in hk in future to stimulate its economy) and why the hk billionaires (who dont need the money) are also eligible for the $10,000?
Member
Jun 26, 2007
463 posts
97 upvotes
GTA
My 6000HKD from 2011 is still in the BoC account. I haven't been back in HK all these years.
I wonder if I can still use this account for the deposit? I can still log on to online banking. I'm wondering how I can wire it over this time after the 10,000 HKD is deposited.

Top

Thread Information

There is currently 1 user viewing this thread. (0 members and 1 guest)