Chong Hing Bank - Money Safe Account

Money Safe Account

With Money Safe Account, you can add an extra measure of protection to your bank deposits from fund outflows against fraud by locking all or part of your bank account balances in the Money Safe deposit account. To unlock the fund, face-to-face verification at branch is required so that your money could be protected from any unauthorised fund transfers by the scammers. Enjoy peace of mind knowing your money is safe, while still earning interest at your current rate!

Money Safe Account at a Glance:

Applicable to	Customers who have a bank account with us and wish to add protection on all or part of their money.
How it works	Visit a branch to open a new Money Safe Account Multi-currency savings account supported Lock any amount upon your needs Protected funds at Money Safe Account will continue to earn interest at current rates Please maintain sufficient funds in your relevant accounts for daily expenses or scheduled transfers like credit card and loan payments as well as other ad hoc needs.
Can I make transfers or withdrawals?	Your balance in the Money Safe Account is locked. To transfer out or withdraw from the account, you must first unlock them.
How to unlock my money in the Money Safe Account?	Visit any of our branches in Hong Kong to unlock your money. Fill in the required application form. Go through the verification process with our branch staff. In most cases, the money at the Money Safe Account will be unlocked instantly after the successful OTP SMS verification if you have a valid mobile number at the Bank’s record. Call back verification from Customer Service Officer will be conducted within 1-3 business days if you only have a home phone number.
Service fee	No additional fees are charged for using the Money Safe Account.

Frequently Asked Questions

Who can open Money Safe Account?
Any personal customers with an existing deposit account at the Bank are eligible to open a Money Safe Account.
What is the Money Safe Account?
It is a multi-currency savings account. You may transfer money from your regular savings or current account to the Money Safe Account to enjoy the extra fund protection.
Through what channels can I set up the Money Safe Account?
Currently, only branch is supported.
How do I deposit funds into the Money Safe Account?
You can transfer funds from your regular deposit accounts to the Money Safe Account with same account holders’ name via intra-bank transfer at branches. Other means such as FPS and cheque are not applicable.
Are there any fees or minimum balance that come with Money Safe Account?
No service charge and fees. No minimum deposit balance requirements for the Money Safe Account
What is the interest rate for Money Safe Account?
You will enjoy the same interest rates as the Bank’s prevailing interest rates. For details, please refer to the Bank’s website www.chbank.com (Step: Personal Banking > Useful Information > Deposit Rates) or branch staff for the latest interest rates on the Money Safe Account.
Can I open more than one Money Safe Account?
You can only open a single Money Safe Account under the same account holder’s name.
Can I open the Money Safe Account in joint name?
Currently, joint named Money Safe Account is not supported.
What types of transactions are prohibited in the Money Safe Account?
Any fund outflows from the Money Safe Account could not be processed locally or outside Hong Kong via any channels through any types of transactions, for example, cash withdrawals, fund transfers, direct debit authorization and standing instruction related transactions, loan and card repayment, bank fees and charges etc., before completing the verification process of fund unlock for your Money Safe Account.
Where can I view the account balance of my Money Safe Account?
You can view the current balance of the Money Safe Account on your monthly statement, Chong Hing Mobile Banking and Internet Banking.
Anything else I need to take note before locking my fund in Money Safe Account?
Please maintain sufficient funds in your relevant accounts for daily expenses or scheduled transfers like card and loan payments as well as other ad hoc needs if part of the funds has been transferred to the Money Safe Account.

Also, please provide us with a valid mobile number to facilitate the future money unlock request and verification process at the branch.

Any limitation on fund transfer to my Money Safe Account?
You can transfer funds from your regular deposit accounts to the Money Safe Account with same account holder’s name via intra-bank transfer at branches. Other means such as FPS and cheque are not applicable.
Can I transfer money to my Money Safe Account online?
Currently, only transfer via branch is supported.

How do I unlock funds in my Money Safe Account?
You can unlock your money at Money Safe Account by visiting any branches of the Bank in Hong Kong during business hours. Just fill in the required application form, conduct the face-to-face verification successfully and OTP SMS or Customer Service Officer call back process to unlock your money.

Please note that once the funds are unlocked, it will no longer being protected by Money Safe.
Any limitation on funds transfer from my Money Safe Account?
You can transfer funds from the Money Safe Account to your regular deposit accounts with same account holders’ name held in Chong Hing Bank at branches. Other means such as FPS and cheque are not applicable.
If I am overseas or unable to visit branches due to certain circumstances, are there any other ways to unlock my money?
To ensure your money are protected from any unauthorised fund transfers by the scammers, you need to visit any branches of our Bank in Hong Kong in person to unlock the money.
How long does it take to unlock the fund at my Money Safe Account?
Normally, customers can unlock their funds instantly after completing the verification process with the mobile number registered with the Bank.
In what circumstances does it require longer time for unlocking the fund?
If you do not have a valid mobile number on the Bank’s record, there will be a Customer Service Officer call back process which will usually take 1 – 3 business days to make your instruction effective.
Will my request of money unlock be rejected by the Bank?
The request of money unlock will be rejected if the verification process is failed, the requested transfer amount is higher than the account balance or the Bank is unable to reach you during the verification process. In such cases, you will need to visit our branch to submit the money unlock request again.

How do I close my Money Safe Account?
You can close your Money Safe Account by visiting any branches of our Bank in Hong Kong during business hours. Please note that once the Money Safe Account is closed and the fund is unlocked, the money will no longer be protected by Money Safe.

Before closing the Money Safe Account, you need to transfer all the funds out of the Money Safe Account first.

How would Money Safe account launch in phases?
The prevailing Money Safe Account is an interim solution. The full launch of Money Safe Account is expected by September 2025 with expanded range of service. By that time, we will automatically upgrade your Money Safe Account (Interim). Please note that by opening Money Safe Account (Interim), you agree to the auto-upgrade arrangement (which means the funds locked under Money Safe Account (Interim) will be protected by Money Safe Account (Full launch) automatically and enjoy more comprehensive Money Safe functions).

What can I do if I want to opt out from Personal Internet Banking services activation due to security concern?
You may request for disabling the setting up of the Internet Banking by visiting any branches of our Bank in Hong Kong during business hours. Once your instruction is effective, you will not be able to activate Personal Internet Banking services via any channel.
How can I activate Personal Internet Banking services if I have disabled the setting up of Internet Banking services previously?
You may request for enabling the setting up of the Internet Banking by visiting any branches of the Bank in Hong Kong during business hours, and conduct the face-to-face verification successfully and OTP SMS or the Customer Service Officer call back process. Once verification process is completed, you will able to activate the Personal Internet Banking services online instantly.