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HK VIRTUAL BANKING LICENSED SERVICE PROVIDER | PAOB

PAOB was granted a virtual banking licence by HKMA and all eligible deposits are
protected by the DPS in Hong Kong. Enjoy fast and secured online banking today.


PAOB– ONE OF THE NEW BANKS WITH A VIRTUAL BANKING LICENSE IN HONG KONG

What is a virtual bank? The set-up of banks with virtual banking licenses is a
new trend in Hong Kong, if not the world. A virtual bank can be defined as a
bank which primarily delivers retail banking services through the internet or
other forms of electronic channels instead of physical branches. In many
worldwide regions such as countries of the European Union, the US and Asia,
advanced virtual banks have been introduced to save the hassle of using the
traditional banking service. To most of us, it is a time saving and efficient
alternative for handling the money.

In Hong Kong, all virtual banks have to obtain a virtual banking license. This
is one of the new initiatives of the Hong Kong Monetary Authority (HKMA), to
start a new Smart Banking Era. With the introduction of the virtual banking
licenses, non-traditional financial services providers can enter the Hong Kong
banking sector with only virtual services without the requirement of physical
branches. To obtain a virtual banking license, the companies must meet the
requirements as set by the HKMA. Virtual banks are subject to the same set of
supervisory requirements applicable to conventional banks.

Ping An OneConnect Bank (Hong Kong) Limited (PAOB) is one of the 8 banks with a
virtual banking license. It is a wholly-owned subsidiary of OneConnect Financial
Technology Co., Ltd. and a member of Ping An Insurance (Group) Company of China,
Ltd. PAOB aims to provide convenient and efficient banking services for retail
customers and small and medium-sized trade enterprises (SMEs) in Hong Kong. It
also enhances the financial inclusion in Hong Kong by providing 7 x 24 banking
services with lower costs.

PAOB incorporates cutting edge technologies like artificial intelligence,
blockchain, cloud platforms and biometrics identification to enhance users’
experience and provide an alternative to the conventional banking process. The
characteristics of PAOB include relatively lower costs and charges, quicker
handling process, fast response and high security.

To opt for PAOB services, it is as simple as just touches with your fingertips.
PAOB allows mobile account opening through the PAOB APP, a secure platform with
login authentication. It takes only a few steps : 1) users have to input and
verify their mobile numbers, 2) set up your account name and password, 3) ID
card verification, 4) take self for biometric identification and 5) input and
confirm personal information. This fully eradicates the complicated procedure of
account opening in conventional banks and bring a new and efficient way to open
accounts in minutes.

The savings account of PAOB is easy to open and manage. Clients can enjoy a
basic saving interest rate of 1% p.a. (for account balance at HK$1M or below /
0.01% p.a. interest rate will be applied for account balance over HK$1M). There
are NO fees and NO minimum account balance requirement. Selected customers who
open open and activate a savings account could enjoy the benefits.

With the development of virtual payment systems, PAOB savings account can also
be used as an Faster Payment System(FPS) account. Simply register through the
APP and enjoy safe, secure and instant cross-bank transfers without fees. Both
inward and outward payment through FPS do not incur any charges. This brings
revolutionary enhancement of bill paying and transferral of money between
individuals. Download the PAOB APP now and start the exceptional experience of
online banking at your fingertip.


DON’T WANT TO FOLLOW
THE 9-TO-5 BANKING HOURS?

 * 7x24 all year long
 * Easy online self-service
 * Fast account opening, lending & fund transfer (FPS)
 * Meet your needs anytime & anywhere


NEVER NEED TO PLAY HIDE-AND-SEEK WITH ADDITIONAL CHARGES.

 * No minimum balance requirement
 * No account maintenance fee / any other hidden charges


HARD TO CHOOSE BETWEEN FAST AND SAFE, WHY NOT BOTH?

 * Secure login authentication
 * Automated check of your device’s security
 * All eligible deposits are protected by the Deposit Protection Scheme (DPS) in
   Hong Kong


DON’T WANT TO FOLLOW THE 9-TO-5 BANKING HOURS?

 * 7x24 all year long
 * Easy online self-service
 * Fast account opening, lending & fund transfer (FPS)
 * Meet your needs anytime & anywhere




WE HAVE NOTHING TO HIDE,
EXCEPT YOUR PRIVACY.

 * No minimum balance requirement
 * No account maintenance fee / any other hidden charges




HARD TO CHOOSE BETWEEN FAST AND SAFE,
WHY NOT BOTH?

 * Secure login authentication
 * Automated check of your device’s security
 * All eligible deposits are protected by the Deposit Protection Scheme (DPS) in
   Hong Kong




SERVICES


RETAIL

Enjoy hassle-free banking services to help you manage your finances easily.

More on Retail Banking


SME

Get efficient, convenient and safe services to help you grow your SME business.

More on SME Banking


FINTECH SOLUTIONS

Fulfill needs of financial institutions by applying the powerful FinTech
Solutions (FTS) of OneConnect.

More on FinTech Solutions
More on Retail Banking
More on SME Banking
More on FinTech Solutions


DOWNLOAD


SEE WHAT’S NEW WITH OUR MOBILE BANKING APP



Scan the QR code to download the PAOB APP now!




SEE WHAT’S NEW WITH OUR SME MOBILE BANKING APP



Scan the QR code to download the PAOB SME APP now!


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NEW UPDATES


RETAIL BANKING NEWS

Coming soon..


SME BANKING NEWS

Coming soon..


PROMOTIONS

Coming soon..

Scan the QR code to download the PAOB APP & PAOB SME APP now!


ABOUT US

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Disclosures Compatible Browser Contact Us


USEFUL LINKS

Service Charges Terms and Conditions Personal Information Collection Statement
FAQs Education Centre Terms Of Use Important Notice Online Security Site Map


CONTACT US

(852) 3762 9900 paob_cs@pingan.com


©2021 Ping An OneConnect Bank (Hong Kong) Limited. All rights reserved.


SYSTEM UPGRADE NOTICE

To provide better services for our customers, we will perform system upgrades
and maintenance from 01:30am-06:30am on 9 Aug 2020 (Sunday). During the
maintenance period, mobile banking and customer services may be impacted. We
apologise in advance for any inconvenience that may cause.