Key Takeaways
Livi Bank was launched in August 2020 and offers free Personal and Business Accounts.
Livi Bank is backed by the Bank of China Hong Kong, Jingdong Digits Technology, and the Jardine Matheson Group.
The bank is a member of the Deposit Protection Scheme in Hong Kong, protecting eligible deposits up to HK$500,000.
Livi Bank Overview
Livi Bank is one of the virtual banks in Hong Kong. They were granted a virtual banking license from the Hong Kong Monetary Authority in 2019 and started operations in August 2020.
Supported by prominent entities such as the Bank of China Hong Kong, Jingdong Digits Technology, and the Jardine Matheson Group, Livi Bank has established itself firmly in the financial industry.
The bank's core mission is to prioritise its customers, striving to offer a straightforward and secure banking experience. Their range of services encompasses personal banking, business banking, virtual debit cards, foreign exchange, loans, and insurance.
As part of the Deposit Protection Scheme, Livi Bank provides assurance to its customers. Any eligible deposits placed with the bank are secured up to a maximum of HKD 500,000.
| Key Information | Description |
| Eligible Countries | Hong Kong |
| Eligible Company Types | A single-layered sole proprietorship, partnership, or limited company. |
| Initial Deposit |  |
| Account Opening Fee | HKD 1,200 + HKD 10,000 for a company with over a 3-layered structure or the company’s UBO / director/ ultimate controller holding a non-HKID card. |
| How Long Does It Take to Complete the Application? | Within 20 minutes |
| Average Opening Time | 1 business day |
| 100% Online Application |  |
| Key Things to Know | • An application fee is required whether or not the account is successfully opened. • Livi business account doesn’t support international transactions at the time of review. |
| Livi Bank Alternative | Statrys: A multi-currency business account that can hold funds in 11 different currencies in one single account. The account also allows users to send local payouts in 14 currencies. Hence, with Statrys, SMEs can manage international transactions efficiently. |
Types of Accounts Available
Livi Bank offers both personal and business accounts, which are named livi Personal and livi Business, respectively.
livi Personal: The personal account offers competitive saving interest rates in HKD, CNY, and USD. It enables instant transfers of HKD and CNY payments via the FPS system, as well as both inward and outward remittances of CNY and HKD to and from Mainland China. Additionally, all Livi personal account holders can obtain the virtual debit Mastercard® to make purchases, earn rewards, and have an option to pay later.
livi Business: Livi Bank provides a business account that allows you to deposit funds in HKD, CNY, and USD. With this account, your business can receive and send local payments in HKD, CNY, and USD faster. Additionally, they offer business loans to help SMEs grow, which can be approved in just one business day.
Eligibility
This section will outline the eligibility criteria, so you know whether you are eligible to open a Livi business account in Hong Kong.
Countries Eligible
Only businesses registered in Hong Kong are eligible to apply for a Livi Bank virtual business account.
Company Types Eligible
The following business entities are eligible to open a business account with Livi.
What Documents Do I Need to Open a Livi Business Account?
You only need a Smart Hong Kong Identity Card and a valid Hong Kong address to apply for an account.
How To Open a Livi Business Account Online
Livi requires all business account users to have a Livi personal account or the liviSave before applying for a Livi business account.
Step 1: Create a Livi Personal Account
- Download the Livi app and click on "Open account."
- Verify your phone number
- Enter the verification code
- Verify your identity by taking photos of your HKID
- Take a selfie
- Fill in your tax and other personal information
- Choose a 6-digit passcode
- Set up facial/fingerprint recognition (optional)
- Answer additional questions
- Confirm details and submit
Typically, the Livi personal account will be ready immediately. However, in some cases, it may take up to 2 business days. The Livi Bank team will notify you via SMS, email, or phone call once your account is active.
Once you have a personal account, you can apply for a business account.
Step 2: Switch to Livi Business
At the top of your screen, tap the menu to switch your Livi mobile app to “Business.”
Step 3: Tap “Open Account”
After that, tap on the “Open Account” button to start your business account application.
Step 4: Fill in the Company Information
Provide your basic company information, such as company name, address, and type of your business.
Step 5: Enter All the Information About Company Members
Provide the personal information of your company members, including full name, address, and roles in the company.
Step 6: Provide Business Details And Financial Information
Describe the nature of your business and financial information, such as revenue and profit margins.
Step 7: Confirm And Submit
Ensure your information is correct before submitting the application.
Step 8: Endorse The Application
After that, the application will be sent to all account users, including the ultimate beneficiary owner, directors, and ultimate controller, for endorsement in their own liviSave account.
How Long Does it Take to Open a Livi Business Account?
Assuming you have already opened a liviSave account, the business account can be active in as fast as 1 business day.
How Much Does It Cost to Open a Livi Business Account?
| Fee | Amount |
| Account Opening Fee | HKD 1,200 |
| Additional Account Opening Fee (for special types of company*) |
HKD 10,000 |
*Special type of company includes but is not limited to the following:
- Company structure with over 3 layers
- The company's ultimate beneficial owner/director/ultimate controller is a non-Hong Kong ID card holder.
How to Contact Livi Bank Customer Support?
If you have further questions, Livi Bank offers multiple channels to contact the customer service team, including
- Phone: +852 2929 2998 / +86 4001200099,
- Submit query form,
- Live Chat on the mobile app (for registered customers only),
- Feedback page on the mobile app (for registered customers only),
- Email: livicare@livibank.com,
- Post: 28/F, Oxford House, Taikoo Place, 979 King’s Road, Quarry Bay, Hong Kong.
The Livi team will acknowledge your feedback within 7 days by either calling or sending an email. Then, they will provide a response within 30 days.
Alternative Solution: Statrys
Virtual banks and neobanks are on the rise globally, and Hong Kong is no exception. It's beneficial to explore the market offerings before settling on a decision. Let us introduce you to Statrys, a notable financial alternative.
Established in 2019 by Bertrand Theaud, Statrys is a fintech firm based in Hong Kong that is committed to improving financial solutions for SME businesses operating across Asia. Statrys is not a bank but rather a licensed Money Service Operator, offering multi-currency business accounts supporting 11 major currencies for companies incorporated in Hong Kong, Singapore, and the British Virgin Islands (BVI).
Statrys also received the "SME Payment Solutions of the Year - Hong Kong" award at the 2023 ABF Retail Banking Awards, recognising Statry’s impact and contribution to the industry.
Statrys’ Key Services
| Key Features | Description |
| Multi-Currency Business Account | Hold, receive, and send money in 11 currencies: USD, HKD, CNY, AUD, EUR, GBP, SGF, JPY, CHF, NZD, and CAD. |
| Business Account Opening Requirements | Must be incorporated in Hong Kong, Singapore, or the BVI. |
| Business Account Opening Time | 3 days on average |
| Initial deposit | HKD 0 |
| Account Opening Fee | HKD 0 Except for special companies registered outside Hong Kong, Singapore, the BVI or companies with complex structure |
| Monthly Fee | Free (if 5 or more outgoing transfers made in the month) |
| Customer Support Channels | Website, Live Chat, Email, Phone, WhatsApp, and WeChat |
| Swift Payments & Tracking | |
| Local Payments | Send local payments in 14 currencies: HKD, AUD, EUR, GBP, IDR, INR, KRW, PHP, SGD, THB, TRY, USD, and VND |
| Payment Cards | Virtual and physical business cards with built-in controls to manage expenses |
| ATM cash withdrawals | |
| FX Rate and Fee | Competitive exchange rates with fees as low as 0.15% (spot and forward contracts) |
| Xero Integration | |
| Free Invoicing Software | Create, manage, and send invoices efficiently |
| Company Registration Service | 100% online Hong Kong and Singapore company registration. |
| Trustpilot Score | 4.6/5, based on 254 Statrys reviews on Trustpilot |
FAQs
Is Livi Bank a bank?
Livi Bank received a virtual banking license from the Hong Kong Monetary Authority in 2019.
