New HSBC Business Direct account with no monthly fee

HSBC has introduced a new business account called “HSBC Business Direct” that requires no monthly fee and minimum account balance. Compared with the existing business account BusinessVantage, the HSBC Business Direct has the following features:

  • No monthly fee;
  • No monthly minimum balance;
  • Counter service fees: $0 if there are less than 7 counter transactions per month, $75 if there are 7 to 12 transactions per month , and $10 per additional transaction.

Beside introducing the new Business Direct service, HSBC has also revised the fees of the existing BusinessVantage:

  • If the average balance of 3 months is less than HKD $100,000, there is a service fee of HKD $150 per month;
  • if the average balance is between HKD $100,000 and HKD $1million, the monthly fee is HKD $75;
  • there is no monthly fee if the balance is above HKD $1million;
  • unlimited free counter service

The service pricings are effective starting this Monday (Oct 27, 2008). For more information, please visit HSBC’s web site:

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