In Hong Kong, there are various kinds of bank accounts specially designed for full-time tertiary students at local universities. Examples include I-Account of BEA and Green Banking of HSB. Both accounts offer everything from deposit services, investments and insurance to credit facilities, mortgage financing and credit cards, making financial management simpler than ever. And by using the electronic service channels, students can enjoy convenience in managing their personal wealth.
The table below shows information about application of opening bank account for undergraduate students:
Table 2 Details of opening bank account for undergraduate students |Banks |BEA |HSB | | |I-Account |Green Banking | |Amount of deposit for opening account |$100 |$500 | |Monthly fee |$50 |$60 | |(Minimum debit balance) |($5,000) |($10,000) | |Length of monthly fee waiver |During period of studies |During period of studies and the first | | | |three years immediately after graduation | |Orientation gifts |$120 Gift voucher |Instant $60 Cash coupon |
According to Table 2, new customers are required to pay only $100 as deposit to open a new account in BEA, whereas HSB is its fivefold, $500. It indicates that BEA has a lower application criterion than HSB. In addition, the minimum debit...