The DPS in Hong Kong has the following main features:

• all licensed banks, unless otherwise exempted by the Board, are required to participate in the DPS as Scheme members;
• restricted licence banks and deposit-taking companies are not members of the DPS;
• the protection limit has been increased to HK$800,000 per depositor per Scheme member with effect from 1 October 2024;
• most of the commonly placed deposits, be they denominated in Hong Kong dollars, renminbi or any other currencies, are protected;
• the target time frame for making full compensation payment to affected depositors is within seven days in most cases in the event of failure of a Scheme member;
• the DPS Fund with a target fund size of 0.25% of the total amount of protected deposits is built up through the collection of contributions from Scheme members;
• contributions made by individual Scheme members are based on the amount of protected deposits held with them and their supervisory rating assigned by the Hong Kong Monetary Authority; and
• depositors having pre-existing protected deposits with two or more Scheme members involved in a merger or acquisition will have an additional coverage of up to HK$800,000 for their protected deposits transferred from each of the original Scheme member(s) for a limited period of time, with effect from 1 January 2025.