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

According to the Hong Kong Association of Banks, 66.4% of individuals and 63.7% of SMEs in Hong Kong have used virtual banking (now called digital banking) services for more than two years, with most relying on them for at least half of their banking needs. Virtual banking in Hong Kong is now mainstream — but choosing the right one isn't straightforward.

If you need a Hong Kong business or personal bank account and you've been looking at digital banks, the first thing you'll notice is that they all seem similar on the surface. App-only, no branch visits, fast onboarding. But that surface similarity is misleading.

The differences that matter are specific: some offer business accounts, some don't. Some give you stock and crypto trading inside the app; others focus on China remittance. The right choice depends on how you bank, where your money needs to go, which currencies you need, or whether you need a loan.

This article works through all 8 licensed digital banks in Hong Kong: who offers business accounts, what each one charges, what they are good at, and where they fall short.

A digital bank (formerly called a virtual bank) in Hong Kong is a fully licensed bank that operates exclusively digitally, without physical branches. It delivers standard banking services — deposits, transfers, cards, and in some cases loans — through a mobile app or web platform.

Hong Kong's central bank and financial regulator, the HKMA (Hong Kong Monetary Authority), issued 8 virtual banking licences between 2019 and 2021. All 8 remain active as of 2026.

These institutions are not money service operators (MSOs) or stored-value facility (SVF) providers, which operate under a lighter regulatory framework. They hold the same class of banking licence as traditional banks such as HSBC or Hang Seng Bank.

These institutions were originally licensed and regulated under the term "virtual bank" — the HKMA's official designation since 2018. In October 2024, following a public consultation, the HKMA formally renamed the category to "digital bank,". The change was driven partly by confusion around the Chinese term for "virtual" (虛擬), which carried connotations of being fictional or illegitimate, and partly to better reflect how these banks actually operate. "Virtual bank" may still appear in older documents and references — both terms refer to the same category of institution. 

Yes. All 8 virtual banks are regulated by the HKMA under the same Banking Ordinance as traditional banks.

Deposits are protected by the Hong Kong Deposit Protection Scheme (DPS) up to HKD 800,000 per depositor per bank. The scheme is administered by the Hong Kong Deposit Protection Board (HKDPB). The limit was raised from HKD 500,000.

Backed by ZhongAn Technologies International Group — one of China's largest insurtech companies — ZA Bank launched in March 2020 as Hong Kong's first licensed virtual bank. Operating entirely without physical branches, it pioneered a fully digital banking experience in the city and has since grown to become the largest virtual bank in Hong Kong by user base, serving both personal and business customers. 

It packs into one app: everyday banking, stock trading, cryptocurrency, and personal & business loans. 

➡️ Elgibility 

Online business account opening is available for single-layered businesses. All directors, shareholders, and partners must hold a valid Hong Kong ID card (HKID). Hong Kong tax residents only.

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

➡️ ZA Bank Highlights 

ZA Bank offers a wide range of services. The following are the main fees, features, and limitations

• ZA Bank advertises free account opening, but opening a Business Banking account online requires prepaying 12 months of service fees totalling HKD 1,500.
• No deposit requirement
• Supports 11 currencies for both personal and business accounts: HKD, USD, CNY, EUR, GBP, SGD, AUD, CAD, JPY, NZD, and CHF
• Local and international remittances, with transfers to over 140 countries via ZA Remit in partnership with Wise
• In-app stock and cryptocurrency trading (Bitcoin and Ethereum), plus access to 170+ investment funds
• Small business loans up to HKD 4 million for companies operating for at least 1 years
• Personal card available, but no business card

EleBank, formerly known as Airstar Bank, was launched in June 2020 as a joint venture between Xiaomi Corporation — the Chinese consumer electronics and technology giant — and AMTD Group, a diversified financial conglomerate. From early on, it built a reputation as one of the better options for Mainland China remittances, a strength it still carries today. 

The bank entered a new chapter when online brokerage Futu Group — best known for its trading platforms — became the controlling shareholder and officially rebranded it as EleBank in April 2026. The direction is now moving toward becoming a more complete financial platform, with wealth management, investing, lending, and insurance all under one roof.

➡️ ELE Bank Eligibility 

For business, you must own a Hong Kong-registered business with all partners, directors, sole owners, or shareholders holding an HKID. Otherwise, contact the bank.

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

➡️ ELE Bank Highlights

• No account management fees, no minimum deposit balance requirement
• Supports 11 currencies, including HKD, USD, and CNY
• Instant FX trading available for HKD, USD, and CNY
• Transfers to Mainland China for Weixin (WeChat) Pay users, with funds received in as fast as one hour. (currently limited to PRC transfers)
• International remittances available via SWIFT
• Dedicated corporate internet banking portal for business customers
• Corporate savings accounts available in HKD, USD, and CNY, with time deposits starting from as low as HKD 1,000
• No clear information available on business card offerings

Livi Bank is a joint venture between three well-known names: Bank of China (Hong Kong); JD Technology, the fintech arm of Chinese ecommerce giant JD.com, and Jardine Matheson, the Hong Kong conglomerate behind familiar retail names like 7-Eleven, Maxim's, and Starbucks. 

That last partnership is no coincidence — from day one, livi was designed around lifestyle and everyday spending, letting customers earn rewards just by paying at places they already visit. It has since expanded meaningfully into SME banking and wealth management, making it one of the more well-rounded options for both individuals and small businesses.

➡️ Livi Bank Eligibility 

For business accounts, the director, owners and controlling person must hold a HKID or Mainland Resident Identity Card. You must open a livi personal account (liviSave) first before applying for a business account. 

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 Bank Highlights

• Grow your savings in HKD, CNY, and USD for both personal and business account
• Support instant HKD and CNY transfers via FPS, plus USD transfers via RTGS.
• SME Financing solutions, including the livi Business Instalment Loan.
• Gamified livi Rewards on everyday banking, including Cash Rewards, e-Coupons, and NFTs.
• Personal and home insurance solutions.

Ant Bank is the Hong Kong arm of Ant International — the fintech giant behind Alipay and a subsidiary of Alibaba Group. Launched in September 2020, its defining edge is being the only digital bank in Hong Kong deeply integrated with an AlipayHK e-wallet. 

If you're already an AlipayHK user, Ant Bank essentially extends that ecosystem into a full licensed bank, making it a natural fit for anyone who lives and pays through Alipay day-to-day. The bank has since expanded into stock trading, buy-now-pay-later, and fund investments starting from as low as HKD 1.
➡️ Ant Bank Eligibility

Business accounts are open to businesses registered and operating in Hong Kong for over 1 year. The major ultimate beneficial owner must hold a valid HKID and proof of address.

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

• Deep integration with AlipayHK, allowing account use within the app
• eM+ High Yield Account with automatic daily balance transfers via AlipayHK and no minimum deposit requirement
• One-stop Hong Kong and U.S. stocks, plus funds investment starting from HKD 1
• Business account supporting HKD and USD savings and fund transfers, daily interest, free account opening, and no minimum deposit
• Business loans of up to HKD 5,000,000
• Buy now, pay later service through Ant Bank PayLater

Ping An Digital Bank is a wholly owned subsidiary of Lufax Holding Ltd. and part of Ping An Insurance (Group) Company of China, one of the world’s largest financial conglomerates. The bank has a strong focus on SME commercial lending, offering selected loan products with minimal or no documentation requirements and a fully online application process.

The bank has also undergone several rebrands over time, previously operating as Ping An OneConnect Bank, then PAObank, before adopting its current name, Ping An Digital Bank.

➡️ Ping An Digital Bank Eligibility

SME: Hong Kong incorporated and registered companies. HKID scan and selfie verification required.

Retail: Hong Kong residents aged 18+ with a valid HKID, Hong Kong mobile number, and residential address. Must not be a U.S. resident or Green Card holder.

➡️ Ping An Digital Bank Highlights

• No minimum balance requirement and no monthly or annual fees
• Cross-border payments in HKD, USD, and CNY for both personal and business customers
• Instant HKD transfers and receipts via FPS, fast USD and CNY transfers to local Hong Kong banks through RTGS
• Currency exchange with no handling fees
• Business financing solutions, including eFast Business Loan, Trade-Connect Instalment Loan, tailored funding for cross-border ecommerce and trading businesses, and various other loan options
• Investment and insurance 

Fusion Bank launched in December 2020 as the last of Hong Kong's eight virtual banks to go live, and it came with a clear identity from day one. Backed by Tencent — the internet giant behind WeChat — alongside ICBC Asia, Hong Kong Exchanges and Clearing, and Hillhouse Capital, Fusion Bank was the first virtual bank in Hong Kong to connect with WeChat Pay HK, letting customers use their bank account directly as a funding source for WeChat payments. 

For businesses and individuals with regular cross-border activity or merchant exposure in Mainland China via WeChat, this integration remains a genuine differentiator. In January 2025, Fusion Bank also partnered with WeBank Technology Services, Mainland China's first digital bank, to further strengthen its cross-border capabilities.

➡️ Fusion Bank Eligibility

Business accounts are available to Hong Kong registered businesses with single-layer ownership, with representatives and beneficial owners holding a HKID and a Fusion Bank personal account.

Personal accounts are available to HKID holders, including permanent and non-permanent residents, aged 18 or above, who are non-US persons.

➡️ Fusion Bank Highlights

• No opening fee and no minimum balance requirements.
• Supports HKD, CNY, and USD savings and time deposits for personal and business users.
• Global remittance services 
• Direct WeChat Pay HK integration for seamless WeChat merchant payments in Hong Kong and Mainland China.
• Large-scale multi-currency financing for corporates
• A cross-border loan with WeBank for Mainland China SMEs expanding via Hong Kong or overseas markets through Hong Kong entities. 

WeLab Bank is the only homegrown virtual bank among Hong Kong's eight — built by WeLab, a pan-Asian fintech founded in Hong Kong in 2013 with operations spanning Hong Kong, Mainland China, and Indonesia (Bank Saqu)

The bank focuses on retail banking as an accessible platform for individual savers and investors, with no business account offerings. WeLab Bank also partners with brands such as Tesla and Apple to provide financing solutions.

➡️ 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. No business accounts are offered.

➡️ WeLab Bank Highlights

• Deposit accounts support HKD, USD, CNY, AUD, CAD, CHF, EUR, GBP, JPY, NZD, and SGD, with available currencies subject to change and viewable in the WeLab Bank App.
• WeLab Global Wallet Debit Card for spending worldwide.
• Local inward and outward USD transfers via RTGS, global remittance services available.
• Subscribe+ for Apple Products. A buy-now-pay-later credit plan that lets customers purchase Apple devices through partner resellers.
• A discounted unsecured personal instalment loan for Tesla owners or buyers in Hong Kong
• Card Debt Consolidation Loan and a range of other loan products.
• Digital Wealth Advisory investment portfolios starting from HKD 100.

Mox Bank launched in September 2020 as the virtual banking arm of Standard Chartered, built in partnership with PCCW, HKT — Hong Kong's leading telecom and lifestyle group — and Trip.com, Asia's largest online travel agency. That mix of partners shapes exactly what Mox is: a personal banking experience designed around lifestyle, travel, and everyday spending. 

It is a personal banking platform with no business accounts, and one of the more established names in Hong Kong’s virtual banking space for personal consumers.

➡️ Mox Bank Eligibility

Open to Hong Kong permanent and non-permanent residents aged 18 or above holding a valid HKID. No business accounts are offered.

➡️ Mox Bank Highlights

• No account opening fee, no minimum balance requirement
• Daily interest is credited on HKD and USD savings balances.
• Mox Card with 0% foreign exchange fees and unlimited Asia Miles or 2% unlimited cashback on eligible spending.
• All-in-one numberless bank card for added convenience and security.
• Local transfers are supported only for HKD, USD, and CNY. Foreign currency withdrawals or spending from the Mox Account are not supported. Overseas transfers are available in AUD, EUR, GBP, SGD, and USD via Express Remit to selected countries.
• In-app Hong Kong and US stock trading, including fractional shares, plus cryptocurrency trading for Bitcoin and Ethereum.
• Mox+ is an upcoming premium offering with preferential privileges, priority service, and an elevated banking experience, currently open for waitlist registration.

Hong Kong’s digital banks offer a mix of everyday savings rates, promotional bonus campaigns, and fixed-term time deposits across HKD, USD, and CNY. This comparison brings together the latest publicly available rates so you can quickly see which virtual banks currently offer the most competitive deposit rates for personal and business accounts.

⚠️ Disclaimer: Rates below reflect each bank's standard/base rates as of 11 May 2026 and are subject to change at any time — always verify directly in the bank's app or official website before transacting.

For personal accounts, the process is similar across banks:

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

For business accounts, the process takes longer and requires more documentation. In general:

• Submit company registration documents (Business Registration Certificate, Certificate of Incorporation)
• Provide ID documents for all directors, shareholders, and authorised persons
• omplete company and beneficial ownership details
• Receive approval — typically 1–5 working days for straightforward structures

Applications with complex ownership structures, non-HKID directors, or corporate shareholders may take longer and could be referred for offline review. In some cases, they may not be eligible at all, so confirm eligibility before applying.

Hong Kong's eight virtual banks each have their own strengths — the right one depends on what you actually need. Here’s a quick guide to get you started in deciding.

You need a business account - Six of the eight digital banks offer business accounts: ZA Bank, ELE Bank, Livi Bank, Ant Bank, Ping An Digital Bank, and Fusion Bank. If you're a sole proprietor, partnership, or limited company with all HKID-holding directors, ZA Bank is one of the most full-featured option. If commercial lending matters, Ping An Digital Bank and Ant Bank both offer substantial SME loans.

You only need a personal account - All eight banks work for individuals. Mox Bank and WeLab Bank are personal-only, and both are polished, well-rounded options. Mox suits frequent travellers; WeLab suits savers, investors, and anyone interested in Apple or Tesla financing.

You want multi-currency support - ZA Bank and WeLab Bank both support 11 currencies — the widest among the eight. If you regularly hold or transact in EUR, GBP, AUD, JPY, or SGD, these two are your best starting points.

You want the best savings or time deposit rates - Rates shift frequently, but Livi Bank, PAO Bank, and WeLab Bank consistently offer competitive time deposit rates across HKD, USD, and CNY. For USD specifically, Fusion Bank and WeLab Bank have posted some of the higher rates. Always check current rates directly in each app before committing.

You want investing alongside your banking - ZA Bank, Mox Bank, and Ant Bank all offer in-app stock trading (Hong Kong and US markets). Ant Bank lets you start investing in funds from just HKD 1. WeLab Bank offers digital wealth advisory portfolios from HKD 100.

You need a loan - For personal loans, WeLab Bank has the widest range of products. For business loans, Ping An Digital Bank stands out for its minimal-documentation SME lending; Ant Bank offers up to HKD 5 million; ZA Bank up to HKD 4 million for businesses operating at least one year.

You need China connectivity -  ELE Bank is strong for CNY remittances, with transfers arriving in WeChat Pay in as little as an hour. Livi Bank (via its JD Technology and Bank of China ties) also handles CNY well. 

Sometimes the easiest choice is the bank that fits naturally into services you already rely on.

Already on WeChat / WeChat Pay HK → Fusion Bank. Direct integration means your bank account funds WeChat payments seamlessly. 

Already on AlipayHK → Ant Bank HK. Ant Bank lives inside the AlipayHK app. If you're already paying through Alipay daily, this extends the convenience.

Shop at 7-Eleven, Maxim's, or Starbucks a lot → Livi Bank. Livi is backed by the same Jardine Matheson group. You likely earn rewards just by spending at places you already go.

Own an Apple device or buying a Tesla → WeLab Bank. The only digital bank in HK with both an Apple device buy-now-pay-later plan and a dedicated discounted loan for Tesla owners and buyers.

Frequent traveler, use Trip.com, collect Asia Miles, or already bank with Standard Chartered (SC) → Mox Bank. Mox is SC's own digital banking arm, co-founded with Trip.com. The card gives unlimited Asia Miles or 2% cashback with zero FX fees.

For most of Hong Kong's digital banks, an HKID is required. Every bank covered in this article lists a valid Hong Kong Identity Card as a prerequisite for both personal and business account opening.

The exceptions are narrow: Livi Bank and WeLab Bank allow Mainland Chinese residents to apply while physically present in Hong Kong using their Mainland ID and Exit-Entry Permit. 

For business accounts, the answer is effectively no — at least for straightforward online applications. All six Hong Kong digital banks that currently offer business accounts state that every director, shareholder, and beneficial owner must hold a valid HKID. If your business has foreign directors or a non-HKID shareholder, your options are:

• Contact the bank directly to ask whether offline or manual review is available
• Consider a Hong Kong traditional bank (HSBC, Hang Seng, DBS) that has more established processes for non-resident directors, albeit with longer onboarding
• Look at a non-bank alternative such as Statrys, which is designed for Hong Kong-registered companies with foreign directors. It offers a 100% online application process and does not require all owners to hold an HKID, as passport identification is accepted.

If you're looking for an online business account in Hong Kong but don't hold a Hong Kong Identity Card, you can’t use a digital bank in Hong Kong.

All six digital banks offering business accounts in Hong Kong require every director, shareholder, and beneficial owner to hold a valid HKID. If your company has even one foreign director or a non-HKID shareholder, you will not qualify for a straightforward online application with any of them.

The good news is there's still a fully digital option worth considering: Statrys multi-currency business account. Statrys is not a bank, but a licensed money service operator built specifically for Hong Kong-incorporated businesses with foreign directors or shareholders. The application is fully online, passport identification is accepted in place of an HKID, and there is no Hong Kong residency requirement.

Statrys supports 11 currencies — HKD, USD, EUR, GBP, SGD, AUD, CAD, CHF, JPY, NZD, and CNH — with FX fees from 0.1%. The platform also provides a dedicated account manager, accounting software integrations, and real-time payment tracking. 

Over 10,000 SMEs currently use Statrys for international payments.