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City, Nature, Outdoors

Wealth Management Connect Southbound Scheme

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

Looking for WMC Northbound Service (for Hong Kong/Macao investors)?

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Account opening & services

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WMC Smart Guide – Southbound Scheme Introduction

WMC will provide investors from Hong Kong, Macao and Mainland China in the GuangdongHong KongMacao Greater Bay Area (“GBA”) with a closed-loop capital channel, allowing them to access crossborder investment counterparties through the regional banking system, and eligible investment products or wealth management products sold by banks (“investment products”).

WMC is divided into “Northbound Scheme” and “Southbound Scheme”. “Southbound ” involves investors from the GBA to open personal investment accounts with Hong Kong and Macao banks, and remit funds through a closed-loop capital channel to purchase eligible investment products sold by Hong Kong and Macao banks

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Eligible Southbound Scheme Investors

To sign up for Southbound Scheme, Mainland investors must fulfil the following requirements:

(1) Have full capacity for civil conduct;

(2) Being residents registered in the nine GBA cities, or with record of social security contribution or individual income tax payment in the nine GBA cities for 2 consecutive years;

(3) WITH 2 YEARS OR MORE EXPERIENCE IN INVESTMENT, FULFILLING ONE OF THE FOLLOWING THREE REQUIREMENTS:
Net month-end household financial assets over the past 3 months ≥ RMB 1 million
Month-end household financial assets ≥ RMB 2 million ≥ RMB 2 million
Average annual income in the past three years no less than RMB 400,000

Quota management

The proposed aggregate quota for Southbound Scheme is RMB150 billion; while the investment quota of each individual investor is RMB 3 Million or RMB 1.5 million each if simultaneously selects both a bank and a securities firm.

1. Aggregate quota: The usage of the aggregate quota under the Southbound Scheme is calculated as follows:

NET CAPITAL OUTFLOW AMOUNT OF SOUTHBOUND SCHEME
=
CUMULATIVE CAPITAL OUTFLOW AMOUNT OF SOUTHBOUND SCHEME
–
CUMULATIVE CAPITAL INFLOW AMOUNT OF SOUTHBOUND SCHEM

When the cross-border net capital outflow amount under Southbound Scheme reaches its upper limit, the Mainland partner banks can only proceed with inward cross-border remittance of Southbound Scheme. They cannot conduct outward cross-border remittance of Southbound Scheme.

2. Individual investor quota:

INDIVIDUAL NET CAPITAL OUTFLOW AMOUNT OF SOUTHBOUND SCHEME
=
CUMULATIVE CAPITAL OUTFLOW AMOUNT OF SOUTHBOUND SCHEME
–
CUMULATIVE CAPITAL INFLOW AMOUNT OF SOUTHBOUND SCHEME

All cross-boundary 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 investor plans to remit an amount that exceeds his personal remaining available quota or the official website of the People’s Bank of China shows that the total quota has been used up to 100%, the Bank may refuse to remit the funds.

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

Inquiry Telephone Number from China: 400 842 7564

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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Investment products1

1. Funds domiciled in Hong Kong and authorized by the SFC; and

2. Bonds2

Deposits3

3. RMB, Hong Kong dollar and foreign currency deposits

Remarks:

  1. Investment products (excluding products listed and traded on the Hong Kong Exchanges and Clearing Limited):
    • All funds primarily investing in Greater China equity and assessed as “non-complex” by HK-Macao partner banks.
    • Funds that are domiciled in Hong Kong and authorized by the SFC and are assessed as “low” risk to “medium-high” risk and “non-complex” by HK-Macao partner banks, excluding high-yield bond funds and single emerging market equity funds.
  1. Bonds assessed as “low” risk to “medium” risk and “non-complex” by Hong Kong banks distributing such products.
  2. Structured Deposit is not included.

Account opening & services

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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.

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Wealth Management Connect - Application procedure for southbound scheme
ACCOUNT SERVICES AND RELATED OFFERS
ACCOUNT SERVICES AND RELATED OFFERS
  • Remittance fee waiver:

    Southbound Scheme investors can enjoy fee waiver for RMB remittances between Mainland partner bank 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

    Click for details
  • Aggregate quota management for Southbound Scheme

    The proposed aggregate quota for Southbound Scheme is RMB150 billion; while the investment quota of each individual investor is RMB 3 Million or RMB 1.5 million each if simultaneously selects both a bank and a securities firm.

  • 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

Inquiry Telephone Number from China: 400 842 7564

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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Appendix:

Products & markets

Products & Markets

• Financial management capabilities • Holistic investment allocation • Cross-border service integration

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Wide Selection of Bonds

An extensive selections of quality bonds issued by governments and well-known organisations around the world to fulfil your investment needs.

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Steady and insightful styles

Providing clients with independent and unbiased opinions, helping them to invest in funds dedicated to different asset classes, including global fixed income, equity and multi-assets, with asset classes covering global bond markets and regular income options.

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Global Wealth

Cooperate with international fund houses to offer quality funds in an open system, complemented by comprehensive and competitive global wealth solutions.

Our one-stop fund investment platform enables you to search for funds information, trade and manage your funds and portfolio. Transactions can be completed in a few clicks via the mobile or online platform.

A convenient digital platform enabling clients to manage their portfolios and ca

Our one-stop fund investment platform enables you to search for funds information, trade and manage your funds and portfolio. Transactions can be completed in a few clicks via the mobile or online platform.

Electronics, Text, Urban

Regular online sharing of the latest market views

We regularly invite industry experts to share their insights on the latest market trends and investment opportunities

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Southbound scheme eligible products:

Deposits: Offer 11 major currencies for selection, including HKD, USD, CNY, AUD, NZD, CAD, GBP, EUR, CHF, JPY and SGD*

Investment Fund: types of eligible funds include Bond Funds, Balanced Funds, Equities Fund and Money Market Funds. Currencies include AUD, CAD, EUR, GBP, HKD, NZD, RMB, SGD, USD.

Bond: Eligible bonds issued by governments, quasi-government bodies and well-known organisations around the world.

* Not applicable for Time Deposit

Standard Chartered Hong Kong herein refers to Standard Chartered Bank (Hong Kong) Limited;

1. WMC will provide investors from Hong Kong, Macao and Mainland China in the GBA with a closed-loop capital channel, allowing them to access cross‑border investment counterparties through the regional banking system, and eligible investment products or wealth management products sold by banks. WMC is divided into “Northbound Scheme” and “Southbound Scheme”.

2. This page and all descriptions and introductions of Standard Chartered Bank regarding WMC do not constitute any solicitation or recommendation, and are subject to change upon updates of the relevant regulations and rules. All introductions do not represent any invitation/offer or promotion to the public regarding a specific product or service by the Bank or any entity;

3. Standard Chartered Bank is not an agent or representative of any China banks in Hong Kong and Macao.

4. Wealth management products are not deposit products and involve risks. Please be careful when making your investment decision.

Remarks:

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

Inquiry Telephone Number from China: 400 842 7564

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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