Hong Kong’s Fusion Bank launches business banking services for SMEs

Until 31 December, new customers may be exempt from account opening fees.

Tencent-backed Fusion Bank has launched business banking services to provide internet banking services to small and medium enterprises (SMEs) in Hong Kong.

SMEs can receive online approval to their applications in as fast as 24 hours and access 24/7 deposit and instant fund transfers. There is no minimum deposit requirement, Fusion Bank said.

From 21 March until 31 December 2023, new customers who successfully open a business account will be exempt from account opening fees or remittance handling fees for all fund transfers in the first six months.

Fusion Bank now accepts the following SMEs for accounting opening: sole proprietorship, partnership and single-layered limited company, whose “connected parties” must be HKID holders and open or maintain Fusion Bank personal accounts.