1. Functionally, both can freely receive TT, letters of credit, etc. , and both have the function of circulating funds in the account;

2. In terms of fees, the fees for local accounts in Hong Kong are higher than those in offshore account;

3. From the long-term perspective of government policy, local families in Hong Kong have an advantage over offshore account because there is no foreign exchange control in Hong Kong.

4. Both can transfer the money in the account to individuals or companies at home and abroad;

5. There is a difference between them in handling cash checks. Hong Kong local households can withdraw cash or issue checks directly from banks, but offshore account cannot operate;

6. The collection speed of local accounts is faster than that of offshore account.