Comprehensive Banking Services to Meet the Diverse Needs of Hardworking Individuals

HONG KONG, April 19, 2024 /PRNewswire/ -- Hang Seng Bank ('Hang Seng') introduces the new PayDay⁺, offering an exceptional Hong Kong Dollar ('HKD') savings rate of up to 6% p.a. for customers who transfer their payroll accounts to the Bank. This exclusive service is further enhanced with special offers in travel, insurance, and investment for both customers who are new to the Bank's payroll accounts and existing customers, tailored to meet the diverse needs of hardworking individuals. 

In an effort to better understand the lifestyle and financial habits of employed individuals in Hong Kong, Hang Seng surveyed nearly 500 working population aged 18-65. The survey revealed that almost 90% of respondents prioritise fund flexibility when seeking deposit benefits, and nearly 80% prefer flexible deposit options over higher-return, locked-in investment schemes. Additionally, most respondents are drawn to payroll accounts that offer higher savings rates, cash incentives, or other rewards.

In response to these customer demands, Hang Seng has launched PayDay⁺, designed to cater to customers' needs by providing a comprehensive range of banking and wealth management services with payroll services.

1)  Income⁺: Enjoy up to 6% p.a. HKD Savings Rate and Exclusive Offers on Consumption, Insurance, and Wealth Management Services

During the promotion period, customers who successfully switch to Hang Seng for payroll services can enjoy up to 6% p.a. HKD savings rate. Additionally, they will have access to a range of benefits including extra rewards on credit cards, cash rebate on personal loan, and HKD1 for Travelsure Protection Plan 8-Day Single Trip Cover. Special offers on the eIncomePro Deferred Annuity Plan are also available. Furthermore, they can take advantage of a SimplyFund Account with a $0 monthly account fee, along with a cash reward offer for stock buy trades for new securities customers.

2)  Travel⁺: Bank's Cost Price for exchanging JPY or EUR

With the increasing demand for overseas travel, Hang Seng customers can exchange Japanese Yen or Euro at the "Bank's Cost Price" through the Hang Seng Mobile App or Hang Seng Personal e-Banking from now until 31 May 2024. Hang Seng also provides the largest number of foreign currency ATMs in Hong Kong, offering up to 12 different currencies for convenient cash withdrawals before travel.

Additionally, when travelling in Thailand, Hang Seng customers can use the Hang Seng Mobile App to scan PromptPay QR codes at local merchants, making instant payments through the Faster Payment System (FPS) at real-time exchange rates.

3)  Security⁺: Hang Seng Mobile App Upgraded with All-in-One Security Settings; Offers AutoSweeping Service 

Hang Seng is committed to enhancing customer security. The Bank has upgraded the "Settings and Security" interface on the Hang Seng Mobile App, allowing customers to easily manage security options for their accounts and credit cards at a glance.

Furthermore, Hang Seng is providing customers with an AutoSweeping service, which helps prevent unnecessary overdraft risks and ensuring smooth processing of transfer instructions and issued cheques. This service involves no interest or handling fees.  Soon, we will increase the upper limit for the AutoSweeping service to HKD100,000, offering greater ease and flexibility for our customers.

Rannie Lee, Head of Wealth and Personal Banking at Hang Seng, said, "At Hang Seng, we continually stay ahead of market changes and anticipate customer needs with innovative solutions. We recognise the importance of financial flexibility and convenience, which is why we launched PayDay⁺. By switching to Hang Seng's payroll service, customers can enjoy not only a high Hong Kong Dollar savings rate of up to 6% p.a. but also a comprehensive suite of financial services designed to integrate into their daily lives. With our enhanced security measures, we ensure that our customers enjoy a worry-free, seamless, and convenient wealth management experience."

About Hang Seng Bank

Founded in 1933, Hang Seng has continually innovated to provide best-in-class, customer-centric banking, investment and wealth management services for individuals and businesses. It is widely recognised as the leading domestic bank in Hong Kong, currently serving more than 3.9 million customers.

Combining its award-winning mobile app and strong digital capabilities with a vast network of over 260 service outlets in Hong Kong, Hang Seng offers a seamless omni-channel experience for customers to take care of their banking and financial needs anytime, anywhere.

Its wholly owned subsidiary, Hang Seng Bank (China) Limited, operates a strategic network of outlets in almost 20 major cities in mainland China to serve a growing base of mainland customers locally and those with cross-boundary banking needs. The Bank also operates branches in Macau and Singapore, and a representative office in Taipei.

As a homegrown financial institution, Hang Seng is closely tied to the Hong Kong community. It supports the community with a dedicated programme of social and environmental initiatives focused on future skills for the younger generation, sustainable finance, and financial literacy, addressing climate change and caring for the community.

Hang Seng is a principal member of the HSBC Group, one of the world's largest banking and financial services organisations. More information on Hang Seng is available at www.hangseng.com.