HSBC One account fee | HSBC One to Charge Monthly Fees from 2026: What Non-Residents Should Know » 湾区阿瑟

Recently, HSBC Hong Kong released an updated official document outlining changes to its personal banking service fees, including an adjustment to the HSBC One account fee, which has drawn significant attention from users.

This move is particularly noteworthy because it marks one of the rare instances in recent years where a low-threshold Hong Kong bank account is reintroducing a management fee. It may also signal a broader shift in Hong Kong banking policies, especially for non-local customers.

In previous articles, HSBC One had long been one of Arthur’s most strongly recommended Hong Kong bank accounts. However, with the introduction of a management fee, this update has come as a surprise to many.

HSBC One – Latest Account Management Fee Policy (Effective from 2026)

According to HSBC’s official document, “Guide to HSBC Wealth Management and Personal Banking Service Fees”, the following changes apply:

Overview of HSBC Account Management Fees and HSBC One account fee Criteria

New Charges – Who Will Be Affected?

Starting January 1, 2026, HSBC One accounts newly opened on or after this date will be subject to a management fee if all of the following conditions are met:

The account holder does not hold a Hong Kong Identity Card, and
The account’s Total Relationship Balance is below HKD 10,000

In such cases, HSBC will charge:

HKD 100 per month as an account management fee

Will Existing HSBC One Accounts Be Affected?

No.

HSBC One accounts successfully opened before January 1, 2026 will continue to enjoy fee exemption, even if the account balance is low. This exemption is clearly stated in HSBC’s official documentation.

What Is “Total Relationship Balance (TRB)”?

Under HSBC’s definition, Total Relationship Balance refers to the customer’s overall assets within the HSBC ecosystem, not just the cash balance of a single account.

How Does HSBC Define Total Relationship Balance (TRB)?

It typically includes:

Deposits: HKD, RMB, and foreign currency deposits
Investment holdings: Stocks, funds, bonds, structured products, gold-related products, etc.
Designated investment deposits: High-yield investment deposits and the deposit portion of structured investment deposits
Certain credit and protection products: Utilized credit facilities (excluding mortgages and credit card balances), and life insurance products with savings or investment components
Retirement assets: MPF and occupational retirement scheme balances managed by HSBC

In short, HSBC looks at your total financial relationship with the bank, not just one account’s cash balance.

Why This Adjustment Matters

The reason is simple:

HSBC has long been a policy bellwether in Hong Kong’s banking sector.

HSBC Was the Pioneer of “No Management Fee” Accounts

Years ago, HSBC was among the first major banks to remove management fees for low-tier accounts. Following this move, other banks such as BOC Hong Kong, Hang Seng Bank, and Standard Chartered gradually followed suit, shaping today’s environment of low-entry, fee-free Hong Kong bank accounts.

Now, once again:

HSBC is the first to reintroduce fees for low-asset accounts.

This naturally raises concerns such as:

Will other Hong Kong banks follow?
Will the overall cost for non-local residents opening Hong Kong bank accounts increase?

At the time of writing, no other banks have announced similar changes. However, this update clearly sends a signal worth monitoring.

HSBC Account Fees: Not Just About HSBC One

While most attention is currently focused on the HSBC One management fee, HSBC has always applied different fee structures across different account tiers. HSBC One is simply the most visible change at this stage.

In general, HSBC’s account structure follows a clear logic:

Higher assets = lower or fully waived fees
Lower assets or inactive accounts = higher likelihood of being charged

How Much Are HSBC’s Account Management Fees?

A simplified comparison of HSBC account types:

HSBC One
- HKD 100/month
- Applies from 2026 for new accounts opened by non-HKID holders with assets below HKD 10,000
HSBC Premier
- HKD 380/month
- Fee waived with a Total Relationship Balance of HKD 1,000,000 or above
HSBC Jade / High Net Worth Accounts
- Fee waived
- Targeted at high-net-worth clients with assets around or above HKD 1,000,000

This explains why the HSBC One fee adjustment has triggered so much discussion—HSBC One has long been regarded as the lowest-barrier account, particularly suitable for everyday users and non-local residents.

Why Did HSBC One Become the First to Charge Fees?

From a business perspective, this is not unexpected:

Large number of HSBC One users
High proportion of non-local customers
Many low-balance, low-activity accounts
High operational costs with limited profitability

This adjustment appears to be a targeted screening of low-asset, low-usage accounts, rather than a blanket price increase.

What Does This Mean for Non-Hong Kong Residents?

From a practical standpoint, the impact is mainly reflected in the following areas:

1. Higher Cost for New Accounts

For non-HKID holders who only intend to:

Open a backup account
Use it infrequently
Maintain a low balance long-term

The cost-effectiveness of a new HSBC One account will clearly decline after 2026.

2. “Zero-Cost Hong Kong Bank Accounts” Are Becoming Rarer

Although this change currently affects only HSBC One, it reflects a broader trend:

Banks are becoming less tolerant of low-activity, low-asset customers
Compliance, operational, and staffing costs continue to rise
Free accounts are not guaranteed forever

3. Existing Accounts May Become More Valuable

If you already hold an HSBC One account opened before 2026, its fee-free status could become increasingly valuable in the future.

Will Other Hong Kong Banks Follow?

At present:

No official announcements from BOCHK, Hang Seng, or Standard Chartered
However, historically, HSBC’s policy changes are rarely isolated

Whether management fees will be broadly reinstated across Hong Kong banks remains something to watch closely.

Official HSBC Source

All information above is based on HSBC’s official publication:

“Guide to HSBC Wealth Management and Personal Banking Service Fees”
Official PDF document:
https://www.hsbc.com.hk/content/dam/hsbc/hk/tc/docs/ways-to-bank/bank-tariff/20260101-guide.pdf

Summary

HSBC One will reintroduce management fees for certain new customers from 2026
Only affects new accounts opened from January 1, 2026, held by non-HKID holders with assets below HKD 10,000
Existing accounts remain unaffected
This change may indicate a gradual tightening of Hong Kong banking policies

If you are considering opening a Hong Kong bank account, timing and account selection may now be more important than ever.

Frequently Asked Questions (FAQ)

How does HSBC charge account management fees?

HSBC Hong Kong applies different management fees depending on account type. Fees may apply if asset or usage thresholds are not met.

When does HSBC One start charging a management fee?

For accounts opened on or after January 1, 2026, management fees apply if the relevant conditions are met.

Will existing HSBC One accounts be charged?

No. Accounts opened before January 1, 2026 remain fee-free.

How much is the HSBC One management fee?

HKD 100 per month, if the charging conditions are met.

Why did HSBC reintroduce fees for HSBC One?

Possible reasons include rising operational and compliance costs, resource usage by low-balance accounts, and overall client structure optimization.

How can I avoid HSBC One account fees?

Common approaches include:
1. Opening the account before 2026
2. Maintaining sufficient Total Relationship Balance
3. Choosing a Hong Kong bank account type that better fits your needs

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Disclaimer: The content of this article reflects personal opinions only. Any financial actions taken based on this information are at your own risk, and any resulting losses shall be borne solely by the operator.