Standard Chartered Hong Kong Business Account Review [2025]: Pros, Cons & Alternative

Final Verdict

Suitable for SMEs that are comfortable with traditional banking processes.

Standard Chartered is one of Hong Kong’s oldest and most established financial institutions, making it a reliable choice for SMEs with regional operations. It’s particularly suited to established businesses in Hong Kong or the Greater Bay Area (GBA) that require integrated banking, lending, and FX services.

The BusinessOne Account supports 11 currencies, offers GBA connectivity, and includes tools like FX forwards, working capital financing, and access to the Straight2Bank platform. SME programmes such as SC WIN and GBA One add value through fee waivers and targeted support for specific business profiles.

However, onboarding is not fully digital, and overseas applicants face high setup fees. Monthly charges also apply unless minimum thresholds are met. While support is available through various channels, the mobile app has recurring usability issues based on user feedback.

Overall, Standard Chartered is a practical option for well-established SMEs with cross-border needs and predictable cash flow. For newer or smaller businesses, digital-first alternatives like Statrys may offer more flexibility and ease.

Key Highlights

• BusinessOne Account for integrated deposits, financing, and trade services
• Hold and manage 11 major currencies, including HKD, USD, EUR, and SGD
• FX forwards and lending solutions to manage cash flow and currency risk
• GBA One setup for cross-border businesses in Hong Kong and Mainland China
• Digital banking platform (Straight2Bank) with approval workflows
• Support via hotline, branches, and a secure mobile app

Standard Chartered’s BusinessOne Account is designed for SMEs in Hong Kong that need flexible banking to support growth, liquidity, and cross-border expansion, especially if you’re operating across the GBA . You can hold and transact in 11 major currencies, including HKD, USD, EUR, and RMB. Transfers are available via FPS, CHATS, and SWIFT, with same-day remittances supported between Hong Kong, Mainland China, and Taiwan.

If your business operates in both Hong Kong and Mainland China, the GBA One programme makes it easier to stay connected. You can open accounts in both locations at once and manage them through a single login on Straight2Bank. This digital platform helps you handle real-time FX, trade, and payroll, with customisable roles and approval flows to match how your team works.

When it comes to financing, Standard Chartered gives you a range of options. You can apply for unsecured loans of up to HKD 6 million, overdrafts up to HKD 1.4 million, or working capital up to HKD 40 million. Some products are available without audited financials or collateral, and you may qualify for government-backed fee rebates under SME schemes.

You’ll also get access to payroll and MPF services to help automate employee contributions and reports. Combined with the bank’s cross-border reach, this makes it easier to scale operations and stay compliant, whether you’re expanding locally or regionally.

Here are a few additional SME-focused programmes to know about:

• GBA One Welcome Offers: Fee waivers and inward remittance rebates
• FX Membership Programme: Cash rewards and preferential rates based on FX volume
• SC WIN: A support initiative for women-led businesses offering fee waivers, networking, and mentorship

Our Verdict: 6.5/10

Standard Chartered offers strong multi-currency support and a solid set of tools for SMEs with cross-border operations, particularly those active in the Greater Bay Area. The combination of FX, lending, and digital account management features is well-suited for established businesses that need regional connectivity and operational control.

Standard Chartered’s business account fees are straightforward, with options to reduce costs through balance-based waivers. However, cross-border businesses should pay attention to additional charges related to foreign currency and international transfers.

Here’s a comprehensive summary of the key fees:

For a more detailed breakdown of applicable fees, refer to Standard Chartered Hong Kong’s official service charges guide.

Our Verdict: 6./10

Standard Chartered’s fee structure is competitive for larger SMEs that can consistently meet balance requirements or benefit from programme-based waivers. But the high account opening costs and transaction fees, especially for overseas clients, may be a barrier for smaller companies or those just getting started.

Standard Chartered Hong Kong offers multi-channel support for SME clients, with access to Relationship Managers and SME-specific service teams depending on your business needs.

Key Support Channels

Our Verdict: 7/10

Standard Chartered offers a strong mix of in-person, phone, and digital support options for business clients, with the added benefit of a dedicated Relationship Manager. While live chat access is limited to logged-in users and some services may require follow-up through other channels, the overall experience is reliable and well-suited to SMEs managing local or cross-border operations.

This section outlines which businesses are eligible to apply, the documents typically required, and how the application process works. Together, these details help set expectations for opening a business account with Standard Chartered in Hong Kong.

Eligibility & Required Documents

Standard Chartered accepts business account applications from a wide range of entities, including:

• Sole proprietorships, partnerships, and limited companies registered in Hong Kong
• Societies, associations, and owners’ incorporations
• Overseas companies, including those incorporated in China, Taiwan, the BVI, the Cayman Islands, and other jurisdictions

Document requirements vary depending on business type, but generally include:

• A completed Account Opening Form and Mandate
• Business Registration Certificate and Certificate of Incorporation (if applicable)
• Certified identification documents for all directors, shareholders, and authorised signatories
• Information on your company’s ownership structure, business nature, expected turnover, and source of funds
• Disclosure of any dealings with sanctioned or high-risk jurisdictions

Full document checklists by business type are available on Standard Chartered’s Business Banking Forms & Documents page.

How to Apply

You can initiate the process in one of the following ways:

• Submit an online enquiry or appointment request through the bank’s “Get in touch” form
• Call the SME Banking Hotline at (852) 2886-6988 (Mon–Fri: 09:00–18:00; Sat: 09:00–13:00)
• Visit an SME Banking Centre in Causeway Bay or Tsim Sha Tsui

The online form allows you to express interest or request contact, but it is not a full digital application. You'll still need to provide documents in person or through a Relationship Manager, and most cases require original or certified true copies for verification.

Applications are reviewed individually. Processing times vary depending on your company’s profile and whether additional information is required.

For eligible businesses, Standard Chartered also offers an Easy Account Opening service, which reduces documentation and may shorten approval time. This option can be requested during the enquiry or appointment stage.
Standard Chartered may also decline applications from businesses involved in activities listed in its  Prohibited Activities and ESG Policy, even if all documentation is provided.

Our Verdict: 6.5/10

Standard Chartered offers a reliable account opening process with solid coverage for local and overseas businesses. The documentation is clearly outlined, and the availability of Easy Account Opening is a plus. That said, the lack of a fully digital application and the variability in processing times may be limiting for businesses looking for speed and convenience.

Google Play Rating: 4.7/5 (35.1K reviews)

While the rating is high, many recent reviews point to biometric login failures, repeated authentication prompts, and secure folder issues, particularly affecting Android users. Live chat reliability and delays with the virtual assistant, Stacy, are also common complaints.

Apple App Store Rating: 4.7/5 (92K reviews)

Despite a strong score, user feedback highlights bugs during setup, forced login ads, and an inconsistent interface. Problems with document scanning, authentication flows, and chat stability are frequently mentioned by business users.

The app is well-rated, but recurring usability issues may be a concern for SMEs managing tasks on the go.

For SMEs that value responsiveness and ease of use, Statrys offers a business account experience built with digital-first companies in mind.

Based in Hong Kong, Statrys provides multi-currency business accounts for companies registered in Hong Kong, Singapore, and the British Virgin Islands. Accounts support 11 major currencies and international payments with FX rates based on the mid-market rate. Integration with Xero and role-based access controls helps streamline financial management.
Unlike many traditional banks, Statrys assigns a dedicated account manager to every client and offers full online onboarding, with most accounts approved within three business days. There are no setup or fall-below fees, and the platform is designed to be stable, straightforward, and free of unnecessary friction.