DBS Treasures Review: the HK$1,000,000 Threshold, Service Fee, Deposit Protection and What the HK$53,800 Welcome Offer Is Made Of

DBS Treasures is the customer segment that DBS Bank (Hong Kong) Limited offers to customers whose Total Relationship Balance reaches HK$1,000,000. DBS Bank (Hong Kong) is a licensed bank on the HKMA register of authorized institutions. Above Treasures sit DBS Treasures Private Client (investible assets from HK$8,000,000) and DBS Private Bank (from US$5,000,000).

Treasures is not a separate account but a service arrangement that brings deposits, foreign exchange, securities, funds and insurance under a single relationship manager. There is no fee to join, but a monthly Total Relationship Balance of HK$1,000,000 or more (or the foreign currency equivalent) must be maintained.

The Total Relationship Balance is the total of assets a customer holds with DBS, solely or jointly: Hong Kong dollar, renminbi and foreign currency deposits (including time deposits), currency linked investments, and the market value of local and overseas securities, funds, bonds, paper gold and other linked or structured investment products. In other words, HK$1,000,000 held entirely in time deposits also meets the threshold.

The service fee uses the three-month average: the daily total balances over three months are added together and divided by the number of days in those three months; for a new customer, the first month counts only from the joining date to the end of the month. The basic requirement of the welcome offer looks at the monthly Total Relationship Balance, and premiums paid on eligible life insurance plans may count as the Insurance Amount.

DBS Bank (Hong Kong) is a member of the Deposit Protection Scheme, which protects up to HK$800,000 per depositor at each member bank. Time deposits with a term of more than five years, structured deposits and all investment products are not protected.

A customer who meets the threshold with HK$1,000,000 in cash therefore has about HK$200,000 above the protection limit. Securities, funds, bonds, paper gold and structured products are not deposits, and their prices can fall as well as rise; life insurance is underwritten by Manulife (International), with DBS acting only as insurance agent, so premiums are also exposed to Manulife's credit risk.

If the average Total Relationship Balance over three consecutive months falls below HK$1,000,000, DBS charges a monthly service fee of HK$300. New customers who join in the fourth quarter of 2026 receive a 12-month waiver: for October joiners, the waiver runs from October 2026 to September 2027, and for November and December joiners it moves back by one month each.

If the account is closed within 3 months of joining, the bank debits a HK$500 handling charge and the value of any rewards paid. On the other hand, Treasures customers whose three-month average balance reaches HK$1,000,000 have the annual fee on their DBS credit cards waived. Foreign exchange, securities, funds and insurance each carry their own charges and spreads, and a fee schedule should be requested from the relationship manager before trading.

Each customer is assigned a DBS Treasures relationship manager, who handles everyday banking and wealth management, supported by investment, treasury and insurance specialists. With the DBS Treasures card, customers may use the facilities of Treasures Centres in Hong Kong, Singapore, India, mainland China, Taiwan and Indonesia, receive priority queuing at DBS branches overseas, and withdraw up to US$5,000 in urgent cash at Treasures Centres in those places.

Day-to-day banking is done mainly through the DBS digibank HK app, which allows trading in Hong Kong, US and other securities markets, fund subscriptions and real-time currency exchange; a 24-hour Treasures hotline is available on (852) 2961 2338. All customers are automatically enrolled in My Treasures Reward, although some privileges carry membership level or balance requirements.

For new customers joining between 1 October and 31 December 2026, the welcome maximum of HK$53,800 is the sum of the caps on six rewards. The first three have relatively low thresholds: the HK$300 Wealth Management Reward (join through the app, log in at least once a month during the counting period, open and maintain a Wealth Management Account and complete the Financial Needs Analysis); the HK$3,000 New Funds Reward (a monthly Total Relationship Balance or Insurance Amount of HK$1,000,000 from the seventh day after joining); and the HK$1,000 Investment Product Take-up Reward (one securities trade of HK$10,000 or more, one fund transaction of HK$10,000 or more with a subscription fee of at least 1.2%, or one foreign exchange transaction of HK$200,000 or more, through the Wealth Management Account).

The other three require much larger sums. The Investment Product Balance Reward is based on the designated investment product balance on the last day of the counting period, ranging from HK$800 at HK$200,000 to HK$22,500 above HK$5,000,001, with money market funds, certificates of deposit, IPOs and retail bonds excluded; the HK$7,000 Insurance Product Balance Reward requires a Manulife life plan taken out at a branch, with a single premium of HK$2,500,000 to under HK$5,000,000 or an annualised first-year premium from HK$250,000 (depending on the payment term); and the Securities Transfer-in Reward pays HK$400 for every HK$200,000 transferred in, capped at HK$20,000, which means a transfer of HK$10,000,000.

In other words, a customer who joins with HK$1,000,000 in deposits receives HK$3,300, or HK$4,300 after one eligible transaction. Each new customer may enjoy the welcome offer only once, and only the primary account holder is eligible.

Suppose a customer joins in October through the referral code and places the full HK$1,000,000 in a three-month Hong Kong dollar online time deposit. DBS's preferential online time deposit rate from 20 October 2026 is 2.80% for three months (new funds, from HK$50,000), which earns about HK$7,058 over 92 days (1,000,000 × 2.80% × 92 ÷ 365). Time deposits count towards the Total Relationship Balance, so the HK$3,000 New Funds Reward is also met; completing the Wealth Management Reward steps in the app adds HK$300, for HK$3,300 in rewards and about HK$10,358 including interest.

The HK$3,300 is equivalent to about 1.3% a year extra on the funds over those 92 days. However, the rewards are paid only in February 2027 and the customer must still hold Treasures status at that time, so the funds should stay in place until payment. A further HK$10,000 securities purchase to earn the HK$1,000 Investment Product Take-up Reward can have its brokerage refunded under the online equity trading offer (capped at HK$8,000 per customer and refunded on or before 30 April 2027), but price movements and transaction levies such as stamp duty remain with the customer.

Customers joining in October 2026 may also take part in the e$aver new customer deposit promotion: new funds of HK$500,000 to under HK$2,000,000 placed in a multi-currency savings account earn an extra 3.1% a year on top of the basic rate until 31 December, subject to a limited quota, with interest paid on or before 31 March 2027. The e$aver promotion runs in monthly editions, so the current edition should be confirmed with the relationship manager before joining.

The funds counting period starts on the seventh day after joining and runs to 31 December 2026 for October joiners, 31 January 2027 for November joiners and 28 February 2027 for December joiners; the rewards are credited to the current account in February, March and April 2027 respectively, or to the savings account if there is no current account.

When each reward is paid, the customer must still be a Treasures customer. The Securities Transfer-in Reward is credited to the Wealth Management Account on or before 30 April 2027, and transferring out any securities on or before that date forfeits it; the insurance reward requires the policy to remain in force on the specified date and is paid after the cooling-off period.

The referral programme applies to people who become new customers between 1 October and 31 December 2026 and have not held any DBS product or service, solely or jointly, in the 18 months before joining, with the exception of a DBS credit card. Opening an account through the DBS digibank HK app requires applicants to be aged 18 or over, to be Hong Kong permanent residents and not to be US residents, citizens or Green Card holders; others must book a branch appointment. Identity documents and proof of address issued within the last three months are required.

Please start the application from this site's link and enter referral code H0UQW68U when opening the account in the app; at a branch, the completed referral form must be submitted on or before the day you become a customer. If more than one person refers the same customer, the bank counts only the first form or code it receives, and the code cannot be added after becoming a customer.

Disclosure: H0UQW68U is this site's referral code. Once a referred customer meets the conditions, DBS pays the referrer HK$1,200 (HK$1,500 if the referrer is a Treasures customer), and this site benefits accordingly.

As of 24 October 2026, the DBS digibank HK app is rated 4.4 on the App Store (Hong Kong) from 16,683 ratings and 4.2 on Google Play from about 7,100 reviews.

The most common complaints in recent reviews are: being unable to log in after forced updates, having to reset Face ID or repeatedly enter SMS passcodes; frequent error messages; a layered interface in which transfers and time deposit renewal are hard to find; balances that do not update immediately after transactions; and too many promotional messages. Some customers praise the convenience of multi-currency management and the relationship manager service.

It suits people who already hold HK$1,000,000 or more in liquid assets, intend to concentrate their main deposits and investments with one bank over the long term, and value a relationship manager and cross-border services; and customers who already plan to transfer securities or take out a large life insurance policy and can earn the larger rewards along the way.

It does not suit people who may need the funds before early 2027; people who would buy unfamiliar investment or insurance products only for the welcome offer; people who have held a DBS account in the past 18 months; or people who would struggle to keep HK$1,000,000 after the waiver period and would bear the HK$300 monthly service fee.