The limit applies per depositor per member bank. Three worked cases explain multiple accounts, joint deposits, foreign currency, interest and time deposits.
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THE SHORT VERSION
A payroll account, savings account, HKD time deposit and foreign-currency deposit held by the same person at one member bank do not each receive HK$800,000. Eligible balances are aggregated for that depositor and the compensation ceiling is then applied.
A bank is not the same thing as a branch. Moving money from one account or branch to another within the same licensed bank does not create a second ceiling. Genuine diversification requires checking that the institutions are legally separate Scheme members.
Savings, current and time deposits with an original maturity of five years or less at a member bank can generally qualify, including HKD, renminbi and other currencies. Personal, joint and company accounts can be covered, and a pledged deposit is not automatically excluded merely because it is collateral.
A product name containing “deposit” is not enough. Structured deposits such as equity-linked or currency-linked deposits, bearer certificates of deposit, time deposits longer than five years, offshore deposits, bonds, shares, funds, insurance, virtual assets and stored-value facilities are outside Hong Kong’s Deposit Protection Scheme.
Ms Chan holds HK$300,000 in a current account and HK$480,000 in a time deposit at one member bank, with HK$12,000 accrued interest at the relevant date. The simplified eligible total is HK$792,000, entirely within the HK$800,000 ceiling if she has no other relevant balance or set-off.
If accrued interest reaches HK$25,000, the total becomes HK$805,000 and maximum compensation remains HK$800,000. Filling accounts to the ceiling using principal alone can therefore leave interest outside it.
Personal-account case: HK$300,000 + HK$480,000 + HK$12,000 accrued interest = HK$792,000. If interest lifts the total to HK$805,000, the ceiling remains HK$800,000.
Mr Lee and his spouse hold HK$800,000 jointly. Without evidence of different shares, each is normally treated as owning HK$400,000. Mr Lee also has HK$650,000 in his own account at the same bank, so his combined share is HK$1.05 million and his ceiling is HK$800,000.
His spouse’s HK$400,000 share is combined with the spouse’s other eligible deposits at that bank and tested against a separate HK$800,000 ceiling. A joint account is neither outside both personal limits nor worth HK$800,000 twice in full.
Joint-account case: Mr Lee’s HK$650,000 personal deposit + HK$400,000 half share = HK$1.05 million; his maximum protection is HK$800,000. His spouse is calculated separately.
Suppose Mr Chow holds HK$700,000 of eligible deposits at Bank A and another HK$700,000 at Bank B, and the two are legally separate Scheme members. In the simplified case, each balance is below its own ceiling, placing HK$1.4 million within the two respective limits.
Do not infer separate membership from a brand, app or branch name. Check the Deposit Protection Board’s member list and the protection notice displayed by the bank. Restricted licence banks and deposit-taking companies are not automatically Scheme members.
No. Eligible deposits across those accounts are aggregated for the same depositor at the same bank. The ceiling remains HK$800,000 regardless of account or branch count.
Each holder is assessed on their share, normally an equal share absent other evidence. That share is combined with the holder’s other eligible deposits at the same bank and tested against that person’s HK$800,000 ceiling.
They can be when placed with a member bank and the product and maturity qualify, with compensation calculated in HKD. A currency-linked structured deposit is a different product and should not be confused with an ordinary foreign-currency deposit.
No. The sales channel does not turn a non-deposit product into a deposit. Bonds, funds, insurance and virtual assets are outside the Hong Kong Deposit Protection Scheme.
Put legal bank names across the top, depositors down the side, and add principal, interest and joint shares. Flag balances above the ceiling or products with unclear eligibility before reviewing time-deposit options and formal product documents.
Figures, eligibility and product terms can change. These primary sources underpin this guide; check the latest version before acting.
Hong Kong Deposit Protection Board: Features of the DPS
| Item | General result | Key condition |
|---|---|---|
| Per depositor per member bank | Up to HK$800,000 | All eligible accounts at the bank are aggregated |
| Joint account | Normally split equally | Each share aggregates with personal accounts |
| Foreign-currency deposit | Can be protected | Compensation entitlement converted to HKD |
| Time deposit | Five years or less can qualify | Terms longer than five years are excluded |
| Accrued interest | Included in protected total | Do not place principal exactly at the ceiling |
| Bonds, funds, insurance, e-wallets | Not protected by DPS | Bank distribution does not make them deposits |
For general information, not personalised financial advice. Examples are illustrative, not current product offers. Check the provider’s latest terms before applying.
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