Return to 1958 and build a century-old giant

Chapter 11 Bank Account Opening

When Yang Wendong heard this, he knew that what he had just said was not in vain, so he said: "Thank you, the price here is cheap, whether it is for public or private use, it is definitely cost-effective."

"You are very good at doing business, very interesting. I didn't expect to meet such an interesting person like you here." Elena said with a smile: "I have been in Hong Kong for more than ten years and I know a lot of businessmen. You are very similar to them. I think you may become one of them in the future."

"I hope so." Yang Wendong smiled. In his previous life, he had been engaged in sales and had his own business in the mainland for more than ten years, so he might have picked up some similar habits.

In fact, people with rich social experience can tell whether a person is a businessman or has done sales work that frequently contacts outsiders.

Elena nodded and said, "Then I hope that one day you can become a big factory owner and recruit a large number of people to work for you, which can also solve the poverty problem of ordinary people in Hong Kong."

"I think so too." Yang Wendong nodded. There was no harm in fantasizing about it now.

"Well, I'm very happy to communicate with you today." Elena said again: "Next time I come to you, I may give you a very lucrative order. In that case, you can also recruit people from the squatters to work for you."

"No problem." Yang Wendong nodded.

The speed at which he and Zhao Liming could make bamboo tubes was limited, and Hong Kong's rats were now probably everywhere except for some large buildings on Hong Kong Island.

If the business is to really grow, we will definitely need to find other people to help.

However, the speed must be fast because this thing has no patent protection. Even if Hong Kong has patent laws and they are enforceable, it cannot protect this thing. The cost of going to court can kill you.

If other people can do it, he needs to set up business quickly. Originally he didn't have any good ideas, but now, Elena seems to be the breakthrough point.

Elena picked up the mousetrap on the ground again. Just as she was about to turn around, she suddenly came back and said, "By the way, for transactions involving large amounts of money, the Hong Kong government can only issue checks. You have to go to a bank to open an account."

"Open a bank account?" Yang Wendong frowned. This matter was a little difficult for him now!
No matter what era you go to, if you want to open a bank account, there are fees and deposit limits. This was the case for domestic banks in the early 21st century, and it should be even stricter in Hong Kong now.

"Are you worried that the bank won't open an account for you?" Elena seemed to see Yang Wendong's difficulty and said, "I know a Chinese bank called Liao Chongxing Bank. They can accept very small deposits and open accounts. You can try there."

"Liao Chong Hing Bank?" Some memories suddenly came to Yang Wendong's mind.

It seems that this bank is somewhat famous in the banking history of Hong Kong because it was the first bank to go bankrupt due to a bank run.

"Brother Dong? What are you thinking about?" After Elena left, Su Yiyi patted Yang Wendong and asked.

Yang Wendong came back to his senses and said with a smile: "Nothing, I was thinking about the bank."

Su Yiyi hesitated for a moment and asked, "I haven't been to a bank yet. Can I go with you?"

"Uh..." Yang Wendong paused, then said, "Of course."

In this era, the requirements for opening a bank account are generally very high. Most Chinese people cannot meet the threshold for opening an account. Even if they have money, many British banks do not accept Chinese customers.

Discrimination is everywhere. Even some successful Chinese people have some status only because of some reasons in the UK. They need local people to assist in managing Hong Kong.

How could the poor people living in the dormitories have the qualifications to go to a bank? Many of them may have never been to an ordinary restaurant.

"Then let's go tomorrow?" Su Yiyi asked.

Yang Wendong said, "Well, let's go tomorrow and make a decision as soon as possible."

"Okay." Su Yiyi agreed. She usually didn't ask why, especially since Yang Wendong just faced the foreigner with ease, which made her feel that he was very powerful. ...

The next day, before daybreak, Yang Wendong went out and walked to the nearest Liu Chuang Hing Bank.

Su Yiyi even changed into a slightly better piece of clothing, although it also had a few patches on it.

It was not until they reached Tsim Sha Tsui Town and asked several shopkeepers that they found out the location of Liao Chong Hing Bank.

It was just a walk to here, which was not a very far distance, but it still took Yang Wendong almost an hour.

After arriving at the place, he found that not far away, many people were queuing up at the door of the bank, it was very lively.

Not knowing what was going on, Yang Wendong still walked to the end of the line at the door and asked the person in front of him, "Brother, may I ask, what is the minimum account opening fee at this bank?"

The person in front of him replied: "There is no account opening fee, but you need to deposit 100 yuan when opening the account."

"Oh." Yang Wendong nodded, feeling quite happy. He brought 120 yuan.

This was all his belongings. Before he traveled through time, his predecessor had more than 60 million in savings, which were his savings over the years. During these ten days, he also made a lot of money by selling mousetraps.

After deducting the daily management fees for the stall and the wages of Zhao Liming and Su Yiyi, there was only about 60 yuan left.

The line was very long, and Yang Wendong could only wait quietly. However, there were always people around him discussing:

"Hey, are you here to save money too?" someone asked.

"Isn't this nonsense? Otherwise, why come to the bank?" said another person.

"No, what I mean is, is it true that Liao Chong Hing Bank's monthly interest rate is 6%?" the person just now continued to ask.

"That's what's written in the newspaper, it can't be fake." Someone else replied, "And there are so many people queuing here, it must be real. If it's fake, wouldn't the people in front of me be causing trouble?"

"That's right." Several people were discussing the issue of interest.

Yang Wendong was also quietly listening to the sounds around him. This was also a rare way for him to get information from the outside world.

Those who can come to the bank to deposit money, even if it is the Liao Chong Hing Bank with low requirements, have a status far higher than those in the dormitory.

However, the 6% bank deposit interest rate also shocked him. With such a high interest rate, it is no wonder that a bank run crisis broke out in Liao Chong Hing Bank a few years later.

After waiting for another hour, Yang Wendong came to the bank counter, handed in the 100 yuan in cash and his ID card, and said, "Open an account."

"How long will it be stored?" asked the staff inside.

"No, I'll put it in a demand deposit." Yang Wendong replied.

Suddenly, many people around looked at him in surprise.

(End of this chapter)