5 Best Debit Cards in Hong Kong [2024]

You want the cashless tap-and-go perk of credit cards in Hong Kong, but you don't want to overspend or miss a payback accidentally. Well, a debit card can be your best friend.

Using a debit card means no debt, no interest, and, depending on your card providers, more savings with attractive rebates and fee waivers.

After all, 91% of Hongkongers have used card payments in the recent year, driven by security and convenience. It is one of the top payment methods in Hong Kong as well. 

In this article, we outline the 5 best debit cards to use in Hong Kong in 2023 based on key benefits with some tips on choosing a debit card.

What is a Debit Card?

Debit cards are payment cards linked to your checking bank account. They allow you to pay, withdraw, and send money by deducting the amounts directly from your account. 

The main difference between a debit card and a credit card is that with debit cards, you are not borrowing money from anyone. Hence, no payback or interest at the end of the month. 

Key Things To Consider When Choosing A Debit Card

Before we move on to the list, let's outline what to consider. 

Choosing between a Visa Card or Mastercard®

Visa and Mastercard® are widely accepted card networks worldwide. Neither gives cards directly to the public like Discover and American Express do. Instead, they partner with financial institutions, which act as "card issuers," providing Visa and Mastercard® cards to their customers. 

At the outset, they are both accepted by most stores in Hong Kong with zero liability protection applied. However, key distinctions that may affect your decision are

• While their global market share and acceptance are almost identical, Visa has a slight edge over Mastercard® in terms of transactions, purchase volume, and the number of cards in circulation.
• Each card network may have an exclusive partnership that provides a different set of rewards. 

While selecting Visa or Mastercard® may provide some unique conveniences, comparing issuer offerings is more crucial to finding the best value.

Card issuers may offer benefits that the two payment network does not. In the final analysis, you want to examine specific debit cards' terms and agreements.

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 match your lifestyle and how much value you can get from them. For example, if you don't shop frequently at a specific store, a debit card offering discounts there might not be the best fit for you, and vice versa.

Fees

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

• Monthly maintenance fee: A small fee to maintain your account. 
• ATM fee: A fee charged when using an ATM outside your card issuer's network. However, many issuers also reimburse this fee up to a monthly limit.
• Foreign transaction fee: A fee charged for using your card aboard usually comes in percentage. Nonetheless, some issuers may waive or reduce this fee for specific regions.

Your best strategy is to review and compare the debit cards' fees, charges, and terms & conditions.

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 unauthorized purchases or withdrawals. Therefore, look for a debit card with solid security features, such as

• Chip and PIN: Cards can store data in different ways. The old way is on a magnetic stripe that houses information directly, and the more recent way is the chip-and-PIN method, where information is encoded and transactions require authorization from a unique code called "PIN".
  
  Cards with chips are more secure than those with magnetic strip data as the chip has better encryption and is harder to clone. Major card networks such as Visa and Mastercard® have already adopted Chip and Pin as the standard, but some old cards or local card networks may not have finished making the switch yet. So it's wise to check. 
• Contactless payments: QR code, tapping, or waving your card to pay means less chance of the card being skimmed or cloned than swiping or inserting. This is because tapping to pay doesn't send your information to the point of sale; instead, it employs a one-time-use code to process that specific payment.
  
  In fact, tap to pay option can be even safer than chip and pin.
• 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, it's best to keep your card in a safe place and stay informed.

❗Important: Safeguard your PIN. If someone learns your PIN, disputing fraud will be complicated.

Considering these key factors, you can find cards that meet your needs. We've also listed our top picks and their benefits to assist your decision-making process. 

🔎 Note: All information provided below is dated 26 July 2023 and may have been updated since. Please check each debit card provider's website for the latest information.

1. HSBC Mastercard Debit Card

Best feature - 12 major currencies available

HSBC, also known as the Hong Kong and Shanghai Banking Corporation, stands as a central banking and financial services institution in Hong Kong and the 2nd strongest in the Asia Pacific, according to The Asian Banker.

Among HSBC's diverse products are banking and payment solutions, including the HSBC Mastercard® Debit Card. 

HSBC Mastercard® Debit Card provides a convenient and flexible way to spend at home or abroad. With 12 key currencies, you can pay online and offline and withdraw cash fees-free at HSBC Group ATMs worldwide.

You can also access and manage spending via HSBC HK Mobile Banking app.

Here are the key benefits and requirements:

HSBC Mastercard® Debit Card Key Benefits

• Access to 12 major currencies, including HKD, USD, GBP, JPY, RMB, EUR, THB, AUD, NZD, SGD, CAD and CHF.
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• Withdraw cash from HSBC Group ATMs worldwide, with no handling fees
• 0.4% cash rebate on all eligible purchases
• Apply up to 6 supplementary cards for loved ones, with free-fee privileges (T&C applied)
• Support contactless and mobile payment

HSBC Mastercard® Debit Card Eligibility

• You need to be HSBC integrated account customer to apply for this card
• Permanent resident of Hong Kong 
• Aged 18 - 65

Learn more about HSBC Mastercard® Debit Card

HSBC Debit Card Terms and Conditions
HSBC Mastercard® Debit Card Important Notes
HSBC Mastercard® Debit Card Fees 

2. Citibank Debit Mastercard

Best feature - Cash rebate and global wallet 

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.

Citibank Debit Mastercard Key Benefits

• Up to 1% cash rebate during the first six months, followed by a rebate of up to 0.5% thereafter 
• Global wallet, with auto FX Top-up function, 0% charges and up to 3% cash rebate for applicable spending
• Withdraw cash at Citibank or any JETCO ATMs in Hong Kong
• Point-of-Sale debit and contactless payment
• Other exclusive privileges, lifestyle and social events

Citibank Debit Mastercard Eligibility

• Have a Citibank account
• At least 18 years old 

Learn more about Citibank Debit Mastercard®

Citibank Debit Mastercard Fees

3. livi Debit Mastercard

Best feature - Secure payment with Token Connect 

Livi Bank is a virtual bank in Hong Kong supported by key entities like the Bank of China Hong Kong, Jingdong Digits Technology, and the Jardine Matheson Group. It aims to offer convenient and secure banking with a focus on everyday rewards.

The Livi Debit Mastercard® offers global Mastercard acceptance and contactless payment convenience. It also works online and with Apple Pay / Google Pay for in-store spending. 

💡 Insight: Discover the Simple Steps to Open a Livi Bank Account Online in 2023

livi Debit Mastercard Key Benefits

• Fast approval
• Point-of-Sale debit and contactless payment
• Securely pay at designated merchants using Token Connect without entering card information.
• No FX is necessary. Settle the amount in HKD (fee applicable). 
• Support Apple Pay / Google Pay
• Customise or verify your payment threshold in the "Cards" section of the Livi app.

livi Debit Mastercard Eligibility

• Livi customer who has liviSave
• Have the Livi App Downloaded
• At least 18 years old

Learn more about livi Debit Mastercard

livi Debit Mastercard Terms and Conditions
livi Bank Fees

4. ZA Debit Card

Best feature - First debit card with a personalized last 6 digit number

ZA Debit Card is a payment solution offered by ZA Bank, one of the prominent virtual banks in Hong Kong. Its main highlight is the personalized card number that lets you choose the last 6 digits.

Additionally, you can conveniently spend from your savings account, make contactless payments, quickly verify transactions, receive instant notifications, set custom limits, and access free cash withdrawals at a vast network of ATMs locally and globally.

💡 Insight: Everything You Need to Know About ZA Bank's Business Account

ZA Debit Card Key Benefits

• Hong Kong's first Visa debit card with a personalized number
• Complimentary cash withdrawal at more than 3,000 domestic bank ATMs in Hong Kong
• Access nearly 3 million ATMs worldwide with the physical card
• Support Apple Pay 
• Up to 11% cash rebate or discount for designated travel products
• Buy 1 Get 1 coffee and pastry at designated merchants
• Limited-time PowerDraw reward

ZA Debit Card Eligibility

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

Learn more about ZA Card

ZA Card Terms and Conditions
ZA Card Usage via Digital Wallet Terms and Conditions
ZA Bank Fees and Charges

5. WeLab Debit Card

Best feature - Numberless card design

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

You can simplify your wallet with this single card for both ATM and Mastercard® purchases, manage expenses through the app, shop securely with a numberless card design, and make contactless payments with Apple Pay support.

WeLab Debit Card Key Benefits

• Unique numberless design 
• Withdraw cash in any JETCO and CIRRUS ATM within Hong Kong (service fees may apply)
• Shop at any retailer that accepts Mastercard®
• Support Apple Pay contactless payment 
• Users' insights on monthly spending 
• Ready-to-use virtual debit card

WeLab Debit Card Eligibility

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

Learn more about WeLab Debit Card

WeLab Account Terms and Conditions
WeLab Debit Card Fees and Charges
WeLab Debit cards and ATMs FAQs

Final Thoughts

The best debit cards fit your lifestyle, whether you want a cash rebate, global wallet, easy FX services, or a fast application through a virtual bank. Just take into account their fees and security features.

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 
• Allow payments in any currency (conversion fees applied)
• Physical and digital formats
• Convenient point-of-sale purchases
• Real-time transaction updates
• Spending analytics
• Backed by excellent customer support