Virtual Banks in Hong Kong: All 8 Compared [2026]

At first glance, Hong Kong's eight digital banks look almost identical: app-first, almost no branches, sign-up in minutes. For a business, two questions narrow the field quickly. Does the bank offer business accounts at all? And can every one of your directors open one without an HKID?

Here's the short version. I go through each bank in detail further down.

Hong Kong's 8 Digital Banks at a Glance [2026]

All six business-account banks require an HKID for their standard online route; livi also accepts a Mainland resident identity card, and so does EleBank for its standard business account.

Quick Answer

If you just want a pick, here's how I'd read the table:

• Best all-rounder: ZA Bank. It has the widest business currency range, shares the largest government-guaranteed SME loan cap with livi, and combines business banking, investing, and lending in a single app.
• Best for SME lending: ZA Bank or livi for the largest government-guaranteed loans. Ant Bank if you'd rather not go through the guarantee scheme.
• Best for China payments: EleBank if you send personal remittances to family members' Weixin wallets in Mainland China. Fusion Bank if you already use WeChat Pay HK.
• Best for personal use: Mox if you travel often, WeLab Bank if you're mainly saving or investing.
• No HKID (or Mainland ID)? None of the six will open a business account for you online. Statrys, a licensed Money Service Operator, accepts passports and runs fully online.

What Is a Digital Bank or Virtual Bank in Hong Kong?

According to a November 2025 survey by the Hong Kong Association of Banks, 66.4% of individual and 63.7% of SME digital banking users have used these services continuously for more than two years. Digital banking is now mainstream.

The HKMA defines a digital bank as "a bank which delivers banking services exclusively or primarily through the internet or other forms of electronic channels." In practice, Hong Kong's digital banks deliver deposits, transfers, cards, and in some cases loans mainly through an app. The HKMA now allows them to open branches or offices, and EleBank opened a store in Causeway Bay in October 2026.

The HKMA lists eight digital banks. Their licences were granted in 2019, and all eight launched between March and December 2020. All eight remain licensed.

They are not money service operators (MSOs) or stored value facility (SVF) providers, which operate under different, narrower licences. They hold a banking licence under the same Banking Ordinance as traditional banks such as HSBC or Hang Seng Bank.

Virtual Bank vs Digital Bank: What's the Difference?

These banks were licensed under the name "virtual bank". In August 2024, the HKMA proposed renaming the category "digital bank" and consulted the public. It published the consultation conclusions on 14 October 2024, with most respondents agreeing, and renamed its guideline the "Guideline on Authorization of Digital Banks" later that month. "Virtual bank" still appears in older documents; both terms refer to the same banks.

Are Digital Banks (Virtual Banks) in Hong Kong Safe?

Yes. All eight are licensed and supervised by the HKMA under the same Banking Ordinance as traditional banks.

Deposits are covered by the Deposit Protection Scheme up to HKD 800,000 per depositor per bank, the limit since 1 October 2024 (previously HKD 500,000). The scheme is run by the Hong Kong Deposit Protection Board.

All 8 Virtual Banks in Hong Kong Reviewed

Below, I go through each bank in detail: who can open a business account, what each charges, where each is strong, and where each falls short.

ZA Bank

Backed by the ZhongAn group, ZA Bank launched in March 2020 as the first of Hong Kong's virtual banks to open for business. It serves both personal and business customers, and packs everyday banking, stock trading, crypto trading, and personal and business loans into one app.

ZA Bank Eligibility

Online business account opening is for Hong Kong tax-resident companies with no more than 4 shareholders and directors, all of them individuals holding a valid HKID. For companies that don't meet those criteria, a relationship manager may follow up instead.

Online personal account opening is available to individuals aged 18 or above with a valid HKID, a local mobile number, and a Hong Kong residential address.

ZA Bank Highlights

• Opening a business account online costs HKD 1,500, a prepayment of the first 12 months' service fees. If the account can't be opened online, ZA Bank says the fee is at least HKD 11,000.
• 11 currencies for business accounts: HKD, USD, CNY, AUD, CAD, CHF, EUR, GBP, JPY, NZD, and SGD
• Local and international transfers, plus ZA Remit (with Wise) for personal overseas payments
• In-app stock and cryptocurrency trading, plus investment funds
• SME loans up to HKD 18 million under the government-backed SME Financing Guarantee Scheme, repayable over up to 10 years
• Personal card available

EleBank (Formerly Airstar Bank)

EleBank launched in June 2020 as Airstar Bank, a joint venture between Xiaomi and AMTD. From early on, it built a reputation for Mainland China remittances, a strength it still carries.

Online broker Futu became its controlling shareholder, and the bank was renamed EleBank in April 2026. It's moving towards a broader financial platform, with wealth management, investing, lending, and insurance, and now lists a physical store in Causeway Bay alongside its app.

EleBank Eligibility

For business, you must own a Hong Kong-registered business. For EleBank's standard account, all connected parties must hold an HKID or a Mainland resident identity card; its streamlined account requires an HKID for all connected parties, plus a single-tier structure and more than one year of operation. Otherwise, contact the bank.

For individuals, you need to be at least 18, hold a Hong Kong permanent or non-permanent identity card, and have a residential address and mobile number in Hong Kong or Mainland China. Certain tax residencies, birthplaces, or nationalities may be ineligible.

EleBank Highlights

• No account management fees and no minimum balance requirement for corporate accounts; corporate accounts can open in as little as 48 hours
• Corporate savings in HKD, USD, and CNY, with time deposits
• Personal remittances to Mainland China for recipients who are Weixin Pay users (family support only), generally credited within 20 minutes
• International remittances via SWIFT
• A dedicated corporate internet banking portal

livi

livi is a joint venture between Bank of China (Hong Kong), JD Technology, the fintech arm of JD.com, and Jardine Matheson, whose DFI Retail Group runs retail names such as 7-Eleven and Wellcome.

That last partnership shaped livi from the start: it was designed around lifestyle and everyday spending, letting customers earn rewards when paying at places they already visit. It has since expanded into SME banking and lending, making it one of the more well-rounded options for both individuals and small businesses.

livi Eligibility

For business accounts, every account user must hold an HKID or a Mainland resident identity card and a livi personal account (liviSave), and the business must be a single-layered sole proprietorship, partnership, or limited company. There's no minimum operating history.

For personal accounts, applicants must be aged 18+, hold a valid Hong Kong smart ID, have a Hong Kong mobile number and address, and be physically present in Hong Kong when applying. Mainland residents with a valid Mainland ID and Exit-Entry Permit may also apply while in Hong Kong.

livi Highlights

• Business application fee of HKD 1,200, charged whether or not the account opens
• Savings in HKD, CNY, and USD for personal and business accounts
• Instant HKD and CNY transfers via FPS, plus USD transfers via RTGS
• SME loans up to HKD 18 million under the SME Financing Guarantee Scheme, repayable over up to 10 years
• livi Rewards on everyday banking

Ant Bank

Ant Bank is the Hong Kong bank of Ant Group, the company behind Alipay. Launched in September 2020, its defining edge is its close integration with the AlipayHK e-wallet.

If you already pay through AlipayHK, Ant Bank extends that into a licensed bank. It has since added stock trading, buy-now-pay-later, and fund investments from HKD 1.

Ant Bank Eligibility

Business accounts are open to businesses registered and operating in Hong Kong for more than 1 year, whose major ultimate beneficial owner holds an HKID.

Personal accounts are open to Hong Kong residents aged 18 or above with a valid HKID.

Ant Bank Highlights

• Integration with AlipayHK, including the eM+ savings account
• One-stop Hong Kong and US stocks, plus funds from HKD 1
• Business account with HKD and USD savings, interest up to 0.3% a year, and no account opening fee
• Unsecured business loans up to HKD 5 million
• Buy now, pay later through Ant Bank PayLater

Ping An Digital Bank (Formerly PAObank)

Ping An Digital Bank is part of Lufax, within the Ping An Insurance group, one of China's largest financial groups. Previously Ping An OneConnect Bank and then PAObank, it adopted its current name in 2026. The bank has a strong focus on SME lending, with fully online applications.

Ping An Digital Bank Eligibility

Business: Hong Kong-incorporated and registered companies, with HKID verification for directors and shareholders.

Retail: applicants aged 18+ with a valid HKID (2018 version) and a Hong Kong or Mainland China mobile number. US residents and Green Card holders aren't eligible.

Ping An Digital Bank Highlights

• No monthly or annual account fees for business accounts, though there's an HKD 2,000 account opening fee
• HKD, USD, and CNY for personal and business customers
• Instant HKD transfers via FPS; USD and CNY transfers to Hong Kong banks via RTGS
• Business Instalment Loan up to HKD 7.4 million for companies established more than 3 years (HKD 1 million for 1 to 3 years), plus trade and ecommerce financing
• Investment and insurance products

Fusion Bank

Fusion Bank launched in December 2020, the last of the eight. Backed by Tencent, alongside ICBC (Asia), Hong Kong Exchanges and Clearing, and Hillhouse, it was the first virtual bank in Hong Kong to connect with WeChat Pay HK, so customers can fund WeChat payments directly from their bank account.

For businesses and individuals with regular activity in Mainland China through WeChat, that link remains a differentiator. In January 2025, Fusion Bank was also named a partner of WeBank Technology Services, the technology arm of Mainland China's first digital bank, which upgraded Fusion's core banking systems. The two also offer a cross-border loan for Hong Kong affiliates of Mainland SMEs.

Fusion Bank Eligibility

Business accounts are for Hong Kong-registered businesses with single-layer ownership, whose representatives and beneficial owners hold an HKID and a Fusion Bank personal account.

Personal accounts are for HKID holders aged 18 or above who aren't US persons.

Fusion Bank Highlights

• No minimum deposit and no monthly account fees for business accounts
• The widest business currency range after ZA Bank: savings and time deposits in HKD, CNY, USD, EUR, JPY, and AUD
• WeChat Pay HK link for payments in Hong Kong and Mainland China
• SME lending, including government-guaranteed loans
• A cross-border loan with WeBank for Mainland China SMEs expanding through Hong Kong entities

WeLab Bank

WeLab Bank is backed by WeLab, a fintech group founded in Hong Kong in 2013, with operations in Hong Kong, Mainland China, and Indonesia.

The bank focuses on individual savers and investors, with no business deposit accounts. It does offer supply chain financing to cross-border ecommerce businesses without requiring an account, and partners with brands such as Tesla and Apple on consumer financing.

WeLab Bank Eligibility

Hong Kong residents aged 18 or above with a valid HKID, a local mobile number, and a Hong Kong address. Mainland Chinese visitors physically present in Hong Kong may also apply with a valid Exit-Entry Record and a referral code.

WeLab Bank Highlights

• Deposits in HKD, USD, and up to 10 foreign currencies through GoSave 2.0 time deposits
• WeLab Global Wallet debit card for spending worldwide
• Local and global transfers
• Subscribe+ for Apple products, a buy-now-pay-later plan, and a discounted personal loan for Tesla owners or buyers
• Digital Wealth Advisory portfolios from HKD 100

Mox

Mox launched in September 2020 and is a subsidiary of Standard Chartered Bank (Hong Kong), built with partners HKT, PCCW, and Trip.com. That mix shapes what Mox is: personal banking designed around lifestyle, travel, and everyday spending.

It has no business accounts and is one of the more established names in Hong Kong digital banking for individuals.

Mox Eligibility

Hong Kong permanent and non-permanent residents aged 18 or above with a valid HKID.

Mox Highlights

• No account opening fee and no minimum balance
• Mox Card with unlimited Asia Miles or cashback on eligible spending; the 1.95% FX handling fee is waived on Mox Credit spending when you earn Asia Miles
• Numberless card for added security
• Local transfers in HKD, USD, and CNY; overseas transfers in 17 currencies, including USD, EUR, GBP, JPY, AUD, and SGD, to selected countries
• In-app Hong Kong and US stock trading, including fractional shares, plus crypto trading

Hong Kong Virtual Banks: Interest Rates Compared

Rates change often, and several banks run promotions on top of their standard rates, especially for new funds. The figures below are each bank's published standard or headline rates when we checked, where the bank publishes them, as a starting point. Always confirm the live rate in the bank's app before you deposit.

Personal Account

Business Account

How to Open a Virtual Bank Account in Hong Kong

For personal accounts, the process is similar across banks:

• Download the bank's app (iOS or Android)
• Enter your personal details and HKID number
• Take a photo of your HKID card
• Complete a selfie or video verification
• Receive confirmation

For business accounts, the process takes longer and needs more documents. In general:

• Submit company registration documents (Business Registration Certificate, Certificate of Incorporation)
• Provide ID documents for all directors, shareholders, and authorised persons
• Complete company and beneficial ownership details
• Receive approval, typically within a few working days for straightforward structures

Applications with complex ownership, non-HKID directors, or corporate shareholders may take longer, may be referred for offline review, or may not be eligible at all, so check eligibility before applying.

Which Virtual Bank Should You Use?

Choosing comes down to a few things: whether you need a business account, whether your directors hold an HKID, which currencies you deal in, and whether you’ll need a loan. If you’d rather not work through all eight yourself, the quick quiz below asks six questions and points you to the bank most likely to fit.

If you’d rather compare them yourself, here’s how the eight stack up by need.

You need a business account: six of the eight offer one (ZA Bank, EleBank, livi, Ant Bank, Ping An Digital Bank, and Fusion Bank). If your company is simple and all directors hold an HKID, ZA Bank is one of the most complete options. If lending matters, compare ZA Bank, livi, Ping An Digital Bank, and Ant Bank.

You only need a personal account: all eight work for individuals. Mox suits frequent travellers; WeLab suits savers, investors, and anyone interested in Apple or Tesla financing.

You want multi-currency support: ZA Bank has the widest range for business (11 currencies), followed by Fusion Bank (6). EleBank, livi, and Ping An Digital Bank cover HKD, USD, and CNY.

You want the best savings or time deposit rate: rates shift often, and not every bank publishes them online. livi publishes the most complete personal and business rate tables. Check current rates in each app before committing.

You want investing alongside your banking: ZA Bank, Mox, Ant Bank, and EleBank offer stock trading. EleBank and Ant Bank let you start investing in funds from as little as HKD 0.01 and HKD 1 respectively; WeLab offers digital wealth portfolios from HKD 100.

You need a loan: for business loans, ZA Bank and livi offer government-guaranteed loans up to HKD 18 million, Ping An Digital Bank up to HKD 7.4 million, and Ant Bank unsecured loans up to HKD 5 million. For personal loans, WeLab has a wide range.

You need China connectivity: EleBank is strong for personal CNY remittances to family members' Weixin wallets in Mainland China. livi, backed by Bank of China (Hong Kong) and JD, also handles CNY well, and Fusion links to WeChat Pay HK.

Choose Based on What You Already Use

Already on WeChat Pay HK? Fusion Bank. Your bank account funds WeChat payments directly.

Already on AlipayHK? Ant Bank. If you already pay through AlipayHK, this extends the convenience.

Shop at 7-Eleven or Wellcome often? livi. It's backed by Jardine Matheson, whose DFI Retail Group runs those brands, and rewards everyday spending.

Own an Apple device or buy a Tesla? WeLab Bank. It offers an Apple buy-now-pay-later plan and a discounted loan for Tesla owners and buyers.

Frequent traveller, Trip.com user, or Standard Chartered customer? Mox. Mox is part of Standard Chartered Hong Kong, with Trip.com as a partner, and its card earns Asia Miles or cashback, with the FX fee waived on Mox Credit spending when you earn Asia Miles.

Can You Open a Virtual Bank Account in Hong Kong Without an HKID?

For most of Hong Kong's digital banks, no. Every bank covered here lists a valid HKID for personal accounts.

The exceptions are narrow: livi, WeLab, ZA Bank, and EleBank allow Mainland residents to apply for personal accounts while physically present in Hong Kong, using their Mainland ID and entry-exit documents (WeLab also requires a referral code), and livi and EleBank accept a Mainland resident identity card for business account users.

For business accounts, the answer is effectively no for straightforward online applications. Most of the six digital banks that offer business accounts require directors, shareholders, or beneficial owners to hold an HKID; livi and EleBank (standard account) also accept a Mainland ID, and Ping An Digital Bank treats companies with non-HKID beneficial owners as a "special type of company", with an extra opening fee of at least HKD 10,000. If your company has a director or shareholder with neither, your options are:

• Contact the bank to ask whether an offline or manual review is available (ZA Bank, for example, charges at least HKD 11,000 if the account can't be opened online)
• Consider a traditional Hong Kong bank (HSBC, Hang Seng, DBS) with established processes for non-resident directors, though onboarding takes longer
• Look at a non-bank alternative such as Statrys, designed for Hong Kong-registered companies with foreign directors, with a 100% online application that accepts passports

Online Business Account in Hong Kong Without an HKID

If your directors or shareholders don’t hold an HKID, a digital bank won’t open a business account for you online.

There’s still a fully digital option: the Statrys multi-currency business account, built for Hong Kong-incorporated businesses with foreign directors or shareholders.

• No HKID needed: passport identification is accepted in place of an HKID, and there’s no Hong Kong residency requirement.
• 100% online application: apply from anywhere, with no branch visit.
• 11 currencies in one account: HKD, USD, EUR, CNY, GBP, SGD, JPY, AUD, CHF, NZD, and CAD.
• Competitive FX: FX fees from 0.1%.
• No monthly fees.
• A dedicated account manager for support.
• Xero integration for easier bookkeeping.

More than 10,000 SMEs use Statrys. Statrys isn’t a bank: Statrys Limited is a licensed Money Service Operator in Hong Kong.