Bank Accounts for Domestic Workers
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Bank Accounts for Domestic Workers

Date Posted: 09/07/2020



Many domestic workers do not have a bank account. But it’s a good idea to set one up because having a bank account is an excellent way to make sure your money can be set aside for savings and emergencies. It is also a unique way to track the wages of employers and domestic workers.


Opening a bank account in Hong Kong can be a bit expensive, but some banks offer inexpensive and straightforward accounts. Employers do not have to accompany domestic workers to the bank to open a bank account, but this can be helpful if the employer is with them.


Before choosing the right bank to open an account, consider your options, and understand the fees, conditions, and services provided by the bank.


What to look for:


Free ATM transaction service: 

Many banks offer free ATM transaction services and charge a fee for services or transactions that require you to speak to someone at the counter.



Low or little monthly balance requirement for the bank account: 

Some banks charge a fee if the account balance falls below a certain amount.



Low or no initial deposit: 

Some banks demand an initial deposit to open an account.



Low or non-existent ATM fees: 

Some banks charge annual debit card fees, but many banks do not.


What are the advantages of opening a bank account for your domestic worker?


Many domestic workers in Hong Kong do not have a bank account to receive their wages. Helping your home assistant open a bank account is a win-win situation. You will save time and track salary payments.


A bank account can also help the worker manage his/her money better and save more, as they will be less tempted to spend it.


Which bank for your Domestic Employee?


Not all banks are welcoming to domestic workers, so it is best to support them. Before choosing, be sure to check for their minimum monthly balance as most banks expect between HK $ 5,000 and $ 10,000.


Fortunately, we have done a little research and selected the best banks for domestic workers in Hong Kong:


Bank Of China


The option for not having a minimum monthly balance is the Bank of China. Still, a minimum amount of HKD 1,000 is required to open an account.


The documents required to open an account are: Passport, a Hong Kong identity card, the original employment contract, and OEC number might be needed for Filipino domestic workers.


Hang Seng Bank


Hang Seng Bank ATM Statement Savings Account is the most convenient for domestic workers in Hong Kong, as there is no minimum monthly balance. The bank requires an initial deposit of at least HK $ 500.


The documents needed to open an account are: a Passport, a Hong Kong identity card, the original employment contract, and OEC number might be necessary for Filipino domestic helpers.


The Asian Migrants Credit Union


The Asian Migrants Credit Union offers savings accounts for Hong Kong migrants with a minimum balance of HK $ 5. To open an account, contact the organization directly, the only document required is the HKID.


What Do You Need To Open An Account In Hong Kong As A Domestic Worker?


When opening an account, a domestic worker may be asked to provide the following:


• A Hong Kong Identity Card
• FDH Employment Contract
• OEC number (for Filipino domestic workers)
• Passport


These requirements may vary between banks. Accounts can be opened during regular banking hours. Regular office hours are Monday to Friday from 9:00 a.m. at 5 p.m.; Saturdays from 9 a.m. to 1 p.m.


Tips To Note


• Be sure to ask when opening your account if there are fees or charges for different services. Each bank is different, and it is essential to understand why you will be billed.


  • Always make sure to keep your ATM card in a safe place. Never share your PIN with anyone, even if your employer or agency requests it.


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