The Hong Kong Deposit Protection Board (the Board) is an independent statutory body formed under the Deposit Protection Scheme Ordinance to oversee the operations of the Deposit Protection Scheme (DPS). The DPS protects your deposits placed with Scheme members and the protection is statutory.


What is the DPS Coverage?

• All deposits denominated in Hong Kong dollars, Renminbi or other currencies held with the Hong Kong Offices of a Scheme member are protected. With effect from 1 October 2024, the protection limit has been increased to HK$800,000 per depositor per Scheme member.
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• The following types of deposits are protected:
• ✓Conventional deposits placed with Scheme members (e.g. savings account deposits, current account deposits and time deposits with a term not exceeding 5 years)
• ✓Deposits in personal, joint* and company accounts
• ✓Secured deposits
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• *Holders of a joint account are deemed to have an equal share in the affected deposits
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• The following types of deposits are not protected:
• ✗Offshore deposits (e.g. deposits placed with overseas / mainland China offices of a Scheme member)
• ✗Structured deposits (e.g. foreign currency linked deposits and equity linked deposits)
• ✗Bearer instruments (e.g. bearer certificates of deposit)
• ✗Time deposits with a maturity longer than 5 years
• ✗Non-deposit products (e.g. bonds, stocks, warrants, mutual funds, unit trusts, insurance policies and virtual assets)
• ✗Stored value facilities
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• No application is required as eligible deposits are automatically protected by the DPS. Depositors also do not need to pay for the protection.
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• Other key features of the DPS

Who is a Scheme member of the DPS?

List of Scheme members --- All Scheme members must display the following membership sign at their places of business.


More details on DPS Membership


How does the Scheme work?

Bank failure is rare in Hong Kong. In case a Scheme member fails and your deposits are eligible for protection, the DPS will compensate you up to the protection limit of HK$800,000.


Want to know more?

Want to have peace of mind? Please find out more about the DPS from our information leaflet and/or our FAQ. Depositors can also check with their banks on the protection status of their deposits.