FAQs
About PAObank
You may contact our Customer Service Representative through the below channel:
24 Hours in-app Live Chat: | Simply contact our Customer Service Representative |
24 Hours General Enquiry & Technical Support Hotline: | (852) 3762 9900 |
Email: | [email protected] |
Branch Code: 752
SWIFT Code: PONCHKHHXXX
Account Opening (HKID)
Retail:
You are eligible to open a personal account with us if you are
- A Hong Kong citizen who holds a valid Hong Kong Identity Card (both 2003 and 2018 version) with age 18 or above;
- Holding a Hong Kong phone number & Hong Kong residential address;
- Non-U.S. Resident/ Permanent Resident card /Green Card Holder/Resident Alien
SME:
Your company is eligible to open an SME account if your company is incorporated and registered in HK
- HKD saving account services
- Fund transfer & payment via Faster Payment System (FPS)
- SME loan service
More services will be available in the near future, stay with us!
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!
- Download PAObank APP here or simply visit your mobile device App store (iOS: App Store/ Android: Google Play) and search “PAObank” for our APP!
- Hong Kong ID scanning and selfie taking to verify applicants' identity
- Input your personal information
- Once approval completed, your savings account will be created!
SME:
Simply follow the steps below and you will be able to enjoy our seamless
- Download PAObank SME APP here or simply visit your mobile device App store (iOS: App Store/ Android: Google Play) and search “PAObank SME” for our APP!
- Hong Kong Identity Card scanning and selfie taking to verify applicant's identity
- Input your personal and company information
- Share the QR code to other Director(s) and Shareholder(s) to input information. (If applicable)
- After your application is approved, your savings account will be created!
Account Opening (China ID)
You are eligible to open a personal account with us if you are:
- A Chinese Citizen who holds a valid (a) China Resident Identity Card (second generation), (b) Hong Kong and Macau Exit-Entry Permit, and (c) original PDF of Entry and Exit Record (without a password), and (d) is aged 18 or above; and
- Holding a valid mainland China phone number, being able to successfully receive text messages and phone calls within Hong Kong; and
- A non-U.S. Resident/ non-U.S. Permanent Resident cardholder /non-U.S. Green Card Holder/non-U.S. Resident Alien; and
- The customer must be physically present in the territory of the Hong Kong Special Administrative Region when opening the account.
*If the customer also holds a Hong Kong Identity Card, the customer is required to use his/her Hong Kong Identity Card to open the account.
- 1. HKD savings account services
- 2. Fund transfer & payment via Faster Payment System (FPS)
*More services will soon be available!
For retail customers:
Simply follow the steps below and you will be able to enjoy our seamless banking services.
- Download via scanning the QR code on PAObank's official website or simply visit your mobile device App store (iOS: App Store/ Android: Google Play) and search “PAObank” for our APP!
- Complete the verification procedures on our APP: (a) Scan your China Resident Identity Card and HK-Macau Exit-Entry Permit, (b) upload the original PDF of the Entry and Exit Record (without a password), and (c) take a selfie to verify your identity.
- Input your personal information on our APP
Once approval is completed, your savings account will be created!
When taking the photo, you need to:
- Look straight into the camera,
- Eyes must be at the same level as the camera,
- Ensure adequate lighting with no shadows or glare, and
- Use a plain and clean background.
Mobile APP
To protect your account, your password should:
- contain 8-16 digits and letters
- contain at least one uppercase and one lowercase letter
- contain one special character
- not use 5 or more same and consecutive digits or letters
- not use the username as your password
- not use the password that being used for past 3 times
If you no longer wish to receive any direct marketing materials or messages from the PAObank, 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 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.
Deposits
Time Deposit
If you are not an existing PAObank personal customer, you simply need to open account via the PAObank Banking APP. You will then be able to place a Time Deposit once your savings account is successfully opened.
Transfer
"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 transfer2) support payments and transfer in Hong Kong Dollar (HKD)
You are advised to always verify the payment details (including the recipient’s identity) of every single transaction before making payment.
25a. I discovered my recipient's mobile number has been flagged in Scameter. How come PAObank did not alert me when I now try to make payment to this FPS proxy ID?
25b. I discovered my recipient's mobile number has been flagged in Scameter. How come PAObank did not alert me when I previously made payment to this FPS proxy ID?
e-Statement & e-Advice
You can follow the steps below to view the e-Statement:
Step 1: Login to your PAObank APP;
Step 2: Select “e-Statement” on APP homepage;
Step 3: Select the months that you would like to
view on the e-Statement
SME Lending
Eligibility
The Corporation must be a Hong Kong registered company with year of incorporation more than 1 year.
Loan purpose
No limitation.
Application Flow
Yes, bank will assess not only applicant's credit reference but also personal credit worthiness of all guarantors/owner/partners up consent obtained
-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)
Loan Terms
Trade-Connect Loan amount ranges from HKD$100,000 to $10,000,000.
Repayment
Borrower has to open a savings account with PAObank for monthly direct debit repayment purpose.
Late repayment
Default interest is charged at 3% per month on the overdue amount from the date of default until we actually receive repayment in full.
Early Redemption
Yes, early settlement is allowed.
Open API
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
Designated Device
Designated Device is the mobile device designated by you to use your account and our services, and to enter into transactions. With the introduction of Designated Device, you may now enjoy our services and enter into transactions by logging on to the PAObank APP with your 6-digit PIN or with biometric authentication, allowing you to enjoy a more secured yet seamless banking experience.
To ensure the safety and security of your account, you are required to activate the Designated Device in order to perform any transactions or give any instructions via the PAObank APP (for example, initiating a fund transfer).
You may only activate one mobile device as the Designated Device. When you are logging in from mobile devices other than your Designated Device, you can choose to designate the new device as your Designated Device. Once such designation is complete, the original Designated Device will be deactivated automatically.
To protect the safety of your account, only one person may have access to the Designated Device at any one point in time. When another person has logged in to the PAObank APP from your Designated Device, your Designated Device will be de-activated automatically. You will be required to activate the Designated Device again during your next login.
During the activation process, you will be required to perform a one-time SMS verification and input One-Time Password for authentication. After that, you will be asked to verify your identity by way of facial recognition.
You may follow the below steps to activate the Designated Device:
1. Download the most updated version of the PAObank APP from the Google Play™
Store, App Store or the designated link from our website
2. Login to the PAObank APP from your designated mobile device
3. Select “Setup Now”
4. Perform SMS OTP authentication
5. Perform Facial Recognition verification
6. Setup your Security PIN
7. Select the authentication method for logging-in and for authorising transactions
8. Complete the setup of Designated Device
If your Designated Device is lost, we recommend you to contact our customer service representative to suspend your Designated Device immediately. Once suspended, your original Designated Device will be disabled and you may re-activate it again upon your next successful login on the new mobile device.
If your mobile device does not support biometric authentication, you may not be able to enable this service.
When you activate biometric authentication service, any biometric credentials stored on your mobile device can be used to log on to the PAObank APP. Therefore, you are strongly recommended to store your own biometric credential only on your mobile device.
If your mobile device cannot meet our security requirement, you may not be able to activate the Designated Device on your mobile device. If you have met any difficulties during the activation of Designated Device, please contact our customer service representative for assistance.
Designated Device is currently supporting both retail and SME customers.
Customer Due Diligence
As per Hong Kong banking regulator’s expectation, the Bank is required to comply with customer due diligence (“CDD”)
requirements in accordance with anti-money laundering and counter-terrorist financing related laws.
Under the CDD requirements, the Bank will collect information from customer at account opening, at periodic CDD
review, at trigger event and may from time to time as required, for the Bank to develop an understanding of the
customer’s account activities; the amount of customer information collected may vary, depending on the money
laundering and terrorist financing risk posed by the customer.