Standard Chartered-backed virtual lender Mox Bank in Hong Kong, aiming to position itself as a premier partner for smart US dollar-based investments in the territory, is offering, what the banks says is, “an array of new enhancements that allows customers to reimagine what their US dollar holdings can do”.

The bank offers its customers a 1% per annum base rate on US dollar savings and free HK/US dollar conversion at mid-market rates, which enables them to take advantage of US dollar rate movements or invest in US dollar stocks and funds.

As well, Mox Invest customers can earn on their US dollar savings a 3% per annum rate by investing at least HK$25,000, or the US dollar equivalent, in a month. This allows customers to enjoy high interest rates like a time deposit without funds being locked in for a certain period.

Mox Invest customers have a range of options, from US and Hong Kong stocks and exchange-traded funds to mutual fund trading services, including Core Portfolio, the bank’s personalized funds portfolio offering diversified investments in funds across global equities and bonds.

The 3% savings rate allows customers, the bank points out, to maximize returns on their US dollar holdings while waiting for optimal investment opportunities.