The business scope is different; the shore account control is different, etc.

Different business scopes: The main businesses of domestic Standard Chartered Bank include trade financing, RMB settlement, corporate consulting, etc., which are relatively narrow. As a comprehensive commercial bank, Standard Chartered Bank Hong Kong has a wealth of retail and corporate banking businesses, including credit cards, financial management, insurance, foreign exchange, investment banking and other fields.

Offshore account controls are different: Since offshore account funds are regarded as a bank’s external debt, once the external debt exceeds the limit, no more accounts can be opened. The ones most affected are now Dutch Bank and Standard Chartered Bank. You can consider opening an account with other domestic banks, such as China Merchants and Shanghai Pudong Development Bank. These banks have been engaged in offshore banking business for a long time and have no quota restrictions. This may be a measure by the state to restrict the business of foreign banks and strengthen the supervision of this part of funds.