Known for its international financial strength, Hong Kong has very many licensed banks which are all controlled by Hong Kong monetary authority (HKMA) that makes sure that its currency places strong as compared to the dollar.
Just like any other big banks, the banks in this country offer the same bank services like money exchange, savings and current accounts, investment services or even money transfers. There are three classes of bank; deposit taking companies, licensed banks and restricted licensed banks.
Their most popular banking services are through telephone and e-banking whereas automated machines spread all over the city and they go as far as offering services in payment of bills, depositing cash and also checks.
Once you open a bank account you are provided with cheque books that carry with them information like its number, amount, date of issue etc. Although most of the retailers do not usually accept checks, they are widely used anyway.
After getting a check book one gets credit cards depending on one salary and all is needed are the salary statements, Hong Kong ID, and proof that you are a resident.
Debit cards are not a requirement for everyone but they can be issued to all customers with either current or savings accounts. They can be used for withdrawal cash in place of a credit card.
Banking costs are done in all banks all over Hong Kong and this also applies to their corporation, this applies to all services rendered for instance in closing an account, changing standing orders, transfers and even charger for inactive bank accounts. However most banks let the customers to link other card services to a master account and this is to make using and accessing their services easier. Just make sure you choose wisely when you finally choose your bank.