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A man using SC Mobile APP
A man using SC Mobile APP

Standard Chartered connects you to global opportunities as one of the first banks offering Wealth Management Connect services!

Southbound

WMC Smart Guide — Southbound Scheme Account Opening

Taking advantage of its comprehensive network, extensive wealth management experience and cutting-edge digital platform, Standard Chartered Bank hails progress in expanding its cross-border banking business, connecting clients to endless new opportunities arising from WMC .

WMC will enable residents in the GBA to access eligible investment/wealth management products sold by banks in the GBA. WMC is divided into “Northbound Scheme” and “Southbound Scheme”, of which “Southbound Scheme” involves Mainland investors from the GBA to open personal investment accounts in HK-Macao distrubuting banks and remit funds via a closed-loop capital channel, and to purchase investment products sold by HK-Macao distributing banks. Standard Chartered Bank (Hong Kong) Limited (“SCB HK”) has reached a cooperation with Standard Chartered Bank (China) Limited which will act us our Mainland partner bank for the Southbound Scheme.

The WMC Southbound Scheme services are currently available in SCB China’s branches in Shenzhen, Guangzhou and Zhuhai.

List of application materials for Southbound Scheme
File, Text, Menu

Account services and related offers

  • Remittance fee waiver:

    Southbound Scheme investors can enjoy fee waiver for RMB remittances between SCB China Remittance Accounts and SCB HK Investment Accounts (please select local and overseas fees to be paid by the remitter for the transfer fee category, the remitter needs to choose Our, and the transfer fee is paid by the remitter).

  • Integrated wealth management service fee waiver:

    Clients who choose to open a Priority Banking account at Standard Chartered and successfully sign up for WMC services can enjoy maintenance fee waiver for the four quarters in the first year.

  • Eligible Priority Banking accounts can also enjoy a bundle of privileges

Aggregate quota management for Southbound Scheme

  • Aggregate quota management for Southbound Scheme

    The proposed aggregate quota for Southbound Scheme is RMB150 billion; while the investment quota for each investor is RMB 1 million.

    Usage of the individual quota under the Southbound Scheme = Cumulative remittances to Hong Kong and Macao from the Mainland under the Southbound Scheme – Cumulative remittances to the Mainland from Hong Kong and Macao under the Southbound Scheme

    All cross-border remittances are subject to the aggregate quota and individual quota under applicable regulations and other requirements prescribed by the Bank from time to time. If the amount that the investor plans to remit exceeds the remaining usage of his/her individual quota, the Bank may refuse to remit the funds, or only remit the remaining usage of the individual quota.

Consultation and complaint hotline

Thank you for your support to Standard Chartered Bank, we are always looking forward to hearing your feedback

WMC Service Hotline: (852) 2886 6288
If you have any complaints or suggestions, please call the Standard Chartered Customer Hotline: (852) 2282 6099

Standard Chartered Bank (China) Limited (“SCB China”) was established in Mainland China and is a subsidiary of Standard Chartered Bank (Hong Kong) Limited (“SCB Hong Kong”). SCB China is not an authorized institution in Hong Kong under the “Banking Regulations” promulgated by the Hong Kong Monetary Authority and is not subject to the supervision of the Hong Kong Monetary Authority. SCB China cannot conduct banking business or accept deposits in Hong Kong. Any deposits in the SCB China are protected by the “Deposit Insurance Regulations of the People’s Republic of China” and not protected by Hong Kong’s deposit protection plan.

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