The policy of exempting management fees for Hong Kong bank cards in 2025 has the following impacts on mainland residents applying for Hong Kong bank cards:

Increased enthusiasm for account opening

- Reduced costs: In the past, mainland residents may have hesitated to apply for Hong Kong bank cards due to concerns about account management fees. Now, many banks have launched policies to waive management fees, such as certain accounts from HSBC and Bank of China Hong Kong that require no deposit or wealth management for lifelong exemption from management fees, lowering the cost of holding a card and increasing mainland residents' enthusiasm for applying for Hong Kong bank cards.

- Enhanced convenience: Some banks, like Hang Seng Bank, offer free transfers between Hong Kong and mainland, and Bank of China Hong Kong can be linked to Alipay/WeChat Pay, making it easier for mainland residents to conduct cross-border transactions, thus making applying for Hong Kong bank cards more attractive to them.

Possible changes in account opening conditions

- More detailed screening: While banks launch policies to waive management fees, they may also screen customers to ensure quality. During account opening, there may be more detailed reviews of the scale and purpose of funds, requiring more supporting documents such as proof of address and proof of income to ensure compliant use of the account.

- Adjusted thresholds: Some banks may adjust the thresholds for account opening, such as Hang Seng Bank requiring a deposit of 100,000 yuan in mainland accounts to waive management fees. However, some banks, like HSBC, offer the HSBC ONE account with zero threshold for opening.

Account usage and maintenance

- Increased frequency of use: Due to the exemption or reduction of account management fees, mainland residents may use their Hong Kong bank cards more frequently for cross-border transactions, investments, and other activities. As long as they meet the bank's stipulated conditions, such as completing at least one cross-border transaction within a quarter, they can continue to enjoy the management fee exemption, encouraging cardholders to actively use their accounts.

- Increased compliance requirements: When using Hong Kong bank cards, mainland residents must comply with relevant laws, regulations, and bank policies to avoid triggering bank reviews, such as avoiding frequent large fund inflows and outflows and not remitting to sensitive countries and regions, in order to maintain normal account usage and the management fee exemption.