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HONG KONG DEPOSIT PROTECTION BOARDGUIDELINE ON INFORMATION REQUIRED FOR DETERMINING AND PAYING COMPENSATION ISSUED UNDER SECTION 8(1) OF THE DEPOSIT PROTECTION SCHEME ORDINANCERevised September 2024 Introduction According to section 32(5) of the Deposit Protection Scheme Ordinance (the DPS Ordinance), when compensation under the Deposit Protection Scheme (DPS) is triggered in respect of a Scheme member (i.e. a specified event has occurred in accordance with section 22 of the DPS Ordinance), the
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How to fill out hong kong deposit protection

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How to fill out hong kong deposit protection

01
Visit the Hong Kong Deposit Protection Scheme (DPS) website.
02
Review the types of accounts that are covered under the DPS.
03
Prepare necessary documentation such as your identification and account details.
04
Complete the online application form provided on the DPS website.
05
Submit the application and wait for confirmation from the DPS.

Who needs hong kong deposit protection?

01
Tenants renting residential properties in Hong Kong.
02
Landlords who require protection for their security deposits.
03
Banks and financial institutions managing rental deposit accounts.
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Hong Kong Deposit Protection refers to a scheme established to protect depositors by ensuring that they are compensated up to a certain limit if their bank fails.
Banks that accept deposits from the public are required to participate in the Hong Kong Deposit Protection Scheme and file necessary reports.
To fill out the Hong Kong Deposit Protection form, individuals must provide their personal information, details about the deposits held, and the bank’s information.
The purpose of Hong Kong Deposit Protection is to safeguard depositors' funds, promote confidence in the banking system, and maintain financial stability.
Banks must report information such as the amount of protected deposits, details of account holders, and their compliance with the deposit protection regulations.
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