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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) announced today (November 22) that it has launched a consumer education programme to help the public to be "smart and responsible" in using banking services. The programme aims to provide the public with smart tips on the use of banking services as well as promoting a responsible attitude in their use.
To begin the programme with, radio clips featuring renowned artiste Ms Dodo Cheng and other popular DJs will be aired through Commercial Radio 1 and Commercial Radio 2 starting from November 25. Through interesting and lively dialogues, a series of messages will be broadcast to help the public to be "smart and responsible" in using banking services, such as:
* Security tips on the use of internet banking and smartphone / mobile banking;
* Security features of ATM cards with chip-based technology and tips on using them to withdraw cash outside Hong Kong;
* Smart use of credit cards by getting to know the benefits as well as the fees and charges, such as, arising from cash advance, late payment and repayment of the "minimum payment" amount only; and
* Avoiding overspending and right of the customer to refuse increases of his or her credit card limit.
In the run-up to the Christmas and Lunar New Year holidays, the HKMA will also publish a series of feature articles and illustrations in newspapers and magazines and on its website to promote smart and responsible spending with credit cards and to remind members of the public who have travel plans to activate the overseas cash withdrawal function of their ATM cards in advance.
The Deputy Chief Executive of the HKMA, Mr Arthur Yuen, said, "While retail banks in Hong Kong have pledged to implement the Treat Customers Fairly Charter, bank customers should also be aware of the services provided by banks in terms of their rights and obligations, and costs and benefits. We hope this programme can help the public to learn more on how to be 'smart and responsible' users of banking services."
The HKMA will roll out more initiatives to deepen consumer knowledge in using banking services through different channels in the coming months.
Ends/Friday, November 22, 2013
Issued at HKT 16:40
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