5 Best Debit Cards in Hong Kong [2024]

If you’re seeking the convenience of cashless, tap-and-go payments but without the risk of overspending or missing a billing cycle, a debit card is your solution. As one of the widely used payment methods in Hong Kong, debit cards offer an easy and secure way to pay for goods and services.

For those opening a bank account, the features of a debit card can also play a big role in making the right choice. From fee-free ATM withdrawals to credit card-like perks such as cash rebates, the right card can make your everyday spending smarter and more convenient. 

In this article, we’ll outline the 5 best debit cards to use in Hong Kong, highlighting the key benefits each one offers. We’ll also provide tips to help you choose the best card to match your spending habits.

The HSBC Mastercard® Debit Card is one of many financial products offered by HSBC Hong Kong, which also includes savings accounts, business accounts, loans, and insurance. 

The card supports purchases and worldwide cash withdrawals in 12 major currencies, including HKD, USD, and EUR, making it ideal for those who frequently travel or make international payments in multiple currencies. Cardholders can easily manage their card via the HSBC HK mobile banking service and can also apply for up to 6 supplementary cards.

Key Benefits of the HSBC Mastercard® Debit Card

• Access to 12 major currencies, including HKD, USD, GBP, JPY, RMB, EUR, THB, AUD, NZD, SGD, CAD, and CHF, with funds debited directly from the corresponding foreign currency balance in your account.
• No annual fees, no foreign currency transaction fees, and no handling fees for local and international card transactions, as well as cash withdrawals at HSBC ATMs abroad.
• 0.4% cash rebate on all eligible purchases.
• Apply for up to 6 supplementary cards for family members and friends, with customisable spending limits.

HSBC Mastercard® Debit Card Eligibility

You must have an HSBC integrated account to be eligible for the HSBC Mastercard® Debit Card. Supplementary card applicants must be aged 12 or above. 

As a global provider of financial services, Citi has a distinguished reputation and is one of the most prominent foreign financial institutions in Hong Kong.

The Citibank Debit Mastercard® provides banking convenience worldwide, allowing you to handle cash withdrawals, daily purchases, and bill payments. Plus, you can enjoy benefits like cash rebates with each purchase.

Key Benefits of the Citibank Debit Mastercard® 

• Earn up to 1% cash rebate during the first six months, followed by up to 0.5% thereafter.
• Activate the Global Wallet to pay directly in foreign currencies with zero foreign exchange spreads and fees, plus earn up to 10% rebate on eligible spending.
• Compatible with mobile wallets like Apple Pay and Samsung Pay.
• Supports signature-based Point-of-sale (POS) transactions.
• Withdraw cash at Citibank or JETCO ATMs in Hong Kong, with fee-free withdrawals at Citibank ATMs worldwide.

Citibank Debit Mastercard® Eligibility

• Hold a Citibank Hong Kong account.
• Citi ATM Card holders can activate debit functions through the Citi Mobile® App, Citibank Online, any Citibank ATM in Hong Kong, or by visiting a branch.

Citibank Debit Mastercard® Fees

The Bank of China (Hong Kong) Limited offers a range of banking products and services, including the BOC Mastercard® Debit Card. This card provides benefits such as cash rebates, supplementary cards, and multi-currency support, allowing transactions in 12 currencies, including the Hong Kong dollar.

Key Benefits of the BOC Mastercard® Debit Card

• Link the card to your Multi-Currency Savings Account to pay directly in 12 currencies; transactions in minor currencies use Mastercard exchange rates.
• Easy application and card management via the mobile app
• Free ATM services at BOCHK and JETCO ATM networks, as well as ATMs with the Mastercard® logo.
• Apply for up to 4 supplementary cards for children and loved ones aged 11 and above.
• Get SMS and email notifications for every card transaction.

BOC Mastercard® Debit Card Eligibility

Existing BOCHK customers who are 18 years old or above can apply for the BOC Mastercard® Debit Card via mobile banking or at branch services. Private Wealth customers automatically receive a BOC Private Wealth Mastercard® Debit Card.

BOC Mastercard® Debit Card Fees

The ZA Card is a debit card offered by ZA Bank, one of the prominent virtual banks in Hong Kong. The card is customisable, allowing you to choose the last six digits of your card number.  Despite operating entirely online, ZA Bank provides the option to get a physical ZA Card, which can be activated through the mobile app. 

Key Benefits of the ZA Card

• A Visa debit card with no annual fees.
• Customisable card number.
• Win up to 200% cash rebate with PowerDraw.
• Supports contactless Visa payWave and Apple Pay.
• Lock and unlock your card and verify transactions directly in the app.
• Free cash withdrawals at over 3,000 local bank ATMs in Hong Kong.
• No CVV or expiry date is printed on the physical card for enhanced security.

ZA Card Eligibility

• Have an account with ZA Bank
• Have the ZA App Downloaded
• At least 18 years old 

ZA Card Fees

Welab Debit Card is an all-in-one solution for smart spending offered by WeLab Bank, another leading virtual bank in Hong Kong. 

Once you open an account with WeLab Bank, you’ll receive a virtual debit card that can be used instantly. Additionally, the physical card is numberless, with the card number, CVV, and expiry date hidden for extra security. 

Key Benefits of the WeLab Debit Card

• Unique numberless design.
• Withdraw cash at any JETCO and CIRRUS ATM within Hong Kong (service fees may apply).
• Shop at any retailer worldwide that accepts Mastercard®.
• Support Apple Pay contactless payment.
• Gain insights into your spending habits with monthly consumption statistics.

WeLab Debit Card Eligibility

• Have an account with WeLab Bank
• Have the WeLab Bank App Downloaded
• At least 18 years old

WeLab Debit Card Fees

Now that we've gone over our top picks for the best debit cards in Hong Kong, the choice is yours. Here are some of the key factors to consider.

Choosing the Right Card Provider

While banks play a significant role as card issuers, choosing the right card provider, such as Visa and Mastercard®, can also influence your spending experience. Each provider offers different levels of global acceptance and transaction benefits. Here’s a quick breakdown:

• Visa: Widely accepted worldwide with a slight edge in transaction volume and card circulation.
• Mastercard®: Comparable global acceptance to Visa, with exclusive partnerships offering unique rewards.
• American Express (AmEx): Offers premium perks like higher cashback and travel benefits but has more limited acceptance in Hong Kong.
• UnionPay: Strong acceptance in Asia, including Hong Kong and Mainland China, but limited global reach.

When choosing a debit card, consider where you'll primarily use it (Hong Kong or abroad) and compare the benefits offered by banks, as well as the card’s terms and conditions, to find the best fit. 

Rewards and Benefits

Some debit cards offer rewards like cash back, points, or special draws for eligible purchases made with the card. 

Consider whether these benefits align with your lifestyle and spending habits. For example, if you rarely shop at a specific store, a debit card offering discounts there might not provide much value, whereas a card with general cashback could be a better fit.

Fees

Debit cards may carry a range of fees that can eat into your savings or rewards, namely:

• Annual fee: A small fee to maintain the card. 
• ATM fee: A service fee charged for using an ATM outside your card issuer's network. Some issuers, however, reimburse these fees up to a monthly limit.
• Foreign transaction fee: A fee, typically a percentage of the transaction amount, charged for purchases made in a foreign currency or processed through a foreign bank.

Your best strategy is to review and compare the debit card's terms and conditions, fees, and charges, before making a decision.

Security and Fraud Protection

Debit cards are generally safe to use but are not immune to fraud, skimming or theft. If someone gets your card or its information, they can make unauthorised purchases or withdrawals. Therefore, look for a debit card with solid security features, such as

• Chip and PIN: Cards store data either through a magnetic stripe or the more secure chip-and-PIN method. Unlike magnetic stripes, which house information directly, chips encode data and require authorisation via a unique PIN, making them harder to clone and more secure. Major card networks like Visa and Mastercard® have adopted chip-and-PIN as the standard, but some older cards or local networks may still use magnetic stripes. It’s wise to check if your card supports this technology for added security.
• Contactless Payments: Tap-to-pay technology uses one-time-use codes for each transaction, significantly reducing the risk of your card details being stolen compared to inserting your card.
• Fraud Detection and Alerts: Many debit cards offer real-time fraud monitoring and instant alerts for unusual or unauthorised transactions. This helps you act quickly if your card is compromised.
• Mobile Card Management: The ability to set daily spending or withdrawal limits on your card can minimise potential losses in case of theft or fraud. Additionally, features like locking and unlocking your card through a mobile app provide greater control and security.
• Mobile wallet: This means you store your card on your phone and can make payments without carrying or showing your physical card. Digital wallets are encrypted, which translates to more security.

Ultimately, the best ways to protect your funds are to keep your card secure and stay informed about its use, as debit card spending is deducted instantly from your account.

The best debit card should enhance your everyday spending, whether you're looking for cashback, fee-free withdrawals, seamless foreign currency transactions, or the convenience of digital banking. Debit cards are an integral part of bank accounts, so it’s important to choose one that fits your lifestyle while keeping fees and security features in mind.

If you need an alternative to a payment card for your business in Hong Kong, consider the Statrys Prepaid MasterCard®, designed for business. 

• Denominated in HKD, but allow payments in any currency (conversion fees applied)
• Available in both physical and digital formats.
• Enables convenient point-of-sale purchases.
• Provides real-time transaction updates.
• Includes spending analytics for better financial management.
• Backed by excellent customer support for assistance when needed