Due to inadequate supervision in money laundering, the US government has imposed a fine of 19.2 billion USD on HSBC in December 2012. Hence, banks in Hong Kong enhanced the supervision on accounts one after another. Image | Google In the past five years, with the gradual improvement of bank supervision system, it would be difficult to open Hong Kong bank accounts, and it would be impossible to reopen accounts in the same bank if the accounts are closed due to inappropriate maintenance. #Hence, how to maintain bank accounts and avoid being closed? Try to avoid these operations! The following situations may enhance the possibility of your account being closed! Lump-sum time deposit or withdrawal Amount is transferred within a short time when the account receives it. Collection and payment business The account has record of trading with different business and accounts, and there is great difference between the amount of foreign exchange and the amount of ordinary deposit and withdrawal. Image | Google Trade with personal account There are obvious differences existing in the purposes between personal account and company account. Company account is only used for foreign exchange loans, reception of capital from shareholder, payment of wages and profit sharing ect. Doing business with countries that are sanctioned Most of the banks prefer to trade with developed regions. In terms of turbulent areas, it is hard for banks to judge the fund security. Thus, banks may close the bank accounts in order to avoid being fined from government. Cash deposit and withdrawal For cash deposit and withdrawal, it is impossible for banks to supervise the source and usage of capitals. It is suggested that the amount of cash deposit and withdrawal of each month should be 10% to 30% of the income with proper reasons. Image | Google Trade with underground banks It is also hard for banks to supervise the exchange earnings betweenunderground banks and remitting companies and to judge the payment for goods and unknown capitals. Banks can only close all these accounts to avoid this phenomenon. Therefore, your account may be involved in the crisis if it has business contact with these companies. Multi-industry account Banks think that the business of middle and small-sized enterprises is simplex. For instance, banks will question the authenticity of business operation if the account of a garment company has frequent contact with the accounts of hardware, electronic, frozen meat, furniture, toy and printing companies. How to operate your bank accounts? Keep the capitals working There should be one to two deposit or withdrawal records within three months in your account. If there is no record over half a year, the bank will consider the bank account to be unnecessary to clients and may close the account. Be faithful & truthful in your bank documents Banks will investigate and keep a record of the company backgrounds and business models during account opening and annual audit. If the regions, business and capital of foreign exchange disagree with the records and reasonable excuse can not be provided, your bank account may be closed. Image | Google Keep in touch with the bank & update your information in time Banks will contact clients through emails, phone calls and letters with deadlines when necessary. To avoid losing contact with the banks, which may result in accounts closing, you are supposed to contact the banks to change your phone number, email address or postal address in time, and update the information registered in the banks.
