ZA Bank Business Account Review [2025]: Pros, Cons & Alternative

An affordable option for Hong Kong entrepreneurs, but limited if you need to make international transactions.

ZA Bank’s business account is a good starting point for local SMEs with straightforward needs. It offers fast onboarding, multi-currency support for HKD, CNY, and USD, and core features like batch payments, payroll, and free FPS transfers, all with no monthly fees.

What stood out is how easy ZA Bank makes it for local businesses to get started. The fully online setup, as long as your structure is simple and all parties are Hong Kong tax residents, is a clear advantage over traditional banks. For domestic operations, it offers a practical set of tools, including access to loans and interest-bearing balances.

However, there are some clear limitations. There are no payment cards or accounting integrations, and currency support is limited to just 3 options. International payments are processed only through SWIFT, which can be slower and more expensive. These gaps may not matter at launch, but they often become pain points as a business grows.

ZA Bank works well if you're a small team serving Hong Kong clients. However, if your business operates or plans to operate internationally, you may want to look at alternatives like Statrys for more flexibility, 11 major currencies, advanced FX tools, and better global coverage.

Key Highlights:

• Multi-currency support (HKD, CNY, USD) under one account
• Free FPS transfers for most local payments
• Real-time currency conversion with no handling fee
• 24/7 live chat and phone support
• Bulk payroll support for up to 1,000 transactions
• SME financing options, including government-backed loans

ZA Bank Business Account Features

ZA Bank’s business account keeps things simple. It supports HKD, CNY, and USD under one multi-currency account, with the option to place time deposits in all three currencies. It’s a straightforward setup that works for SMEs dealing mainly in local or regional markets.

Local payments run through FPS and CHATS, and they’re supported in all 3 currencies. For international transfers, ZA Bank relies on the SWIFT network, so you can send or receive funds overseas, but you may want to double-check fees and speed depending on your counterparties. ZA Bank also offers batch payments and payroll services, which are handy for businesses with regular payouts.

Currency exchange is available 24/7 with no handling fees, letting you convert between HKD, CNY, and USD directly in the app. ZA Bank also offers access to business loans, including those under Hong Kong’s SME Financing Guarantee Scheme.

However, the feature set is limited. ZA Bank doesn’t offer payment cards, accounting software integrations, or trade finance tools such as cheque clearing or letters of credit. For SMEs involved in trading or planning to scale internationally, these gaps may require turning to additional providers such as Statrys.

Our Verdict: 6.5/10

ZA Bank covers the basics for local SMEs but misses key tools that growing businesses rely on, including no payment cards, no software integrations, and limited currency support.

If your business needs cross-border operations, team expense management, or financial automation, you’ll likely need to piece together additional tools or consider switching to a provider with a more complete offering.

ZA Bank doesn’t require a minimum balance or charge monthly fees for its business account. However, there is a fee to open an account, along with other service charges. Key fees include:

General Fees

Transfer Fees

For detailed pricing information, please refer to ZA Bank’s business banking fee document.

Our Verdict 7.5/10

ZA Bank keeps everyday fees low with no monthly charges and cheap FPS transfers. That’s great for Hong Kong-based businesses. However, the account opening fee starts at HKD 1,200 and jumps to HKD 10,000+ for complex setups or when using a relationship manager. Add-on costs like HKD 200 for inactivity or HKD 100–200 for SWIFT payments can also pile up. ZA Bank does not disclose exchange rate margins or FX fees, so businesses may not know the total cost of an international transfer upfront.

It's cost-effective for local SMEs but not ideal if you're handling cross-border payments or want a low-cost setup from day one.

You can reach out to ZA Bank through various channels, which are:

• Email: bank.opinion@za.group
• 24/7 Hotline: +852 3665 3665
• 24/7 Online Live Chat
• ZA Bank office: Unit 1301, Level 13, IT Street, Cyberport 3, 100 Cyberport Road, Hong Kong (Appointment is required).

Additionally, ZA Bank provides a Help Centre in Traditional Chinese and English with self-service resources for common queries.

While the hotline is available 24/7, the live chat felt more like an extension of the Help Centre. I could not reach a human during testing, and most answers pointed back to the FAQ articles. If you need quick and genuine support, it’s faster to call.

Our Verdict: 7/10

ZA Bank’s 24/7 hotline is a real advantage if you need support anytime. Email is available too, although it is better suited for non-urgent matters. The live chat, on the other hand, feels more like an automated FAQ.

Since the live chat does not offer real-time support, the hotline becomes the only reliable option. When problems arise, you might have to wait longer than expected to get through.

Only businesses incorporated in Hong Kong can open a business account with ZA Bank. You are eligible to open ZA Bank business accounts if you meet the following criteria.

• Be a sole proprietorship, partnership, or limited company
• Be established or incorporated in Hong Kong
• A sole proprietor must be aged 18 or over
• Tax resident of Hong Kong only.

In general, the required documents include:

• Copy of an individual’s identity documents
• Copy of residential address proof
• Copy of a business registration certificate
• Proof of business, such as a sales contract or invoice
• Foreign Account Tax Compliance Act (FATCA) documents
• Common Reporting Standard (CRS) documents.

The account opening process can be done online, and you can get approved within 1 business day if your business meets the following conditions:

• Sole Proprietorship: The owner must be a Hong Kong tax resident, hold a valid HKID, and be 18 or above.
• Partnership: All partners must be HK tax residents, natural persons (not companies), hold valid HKIDs, be general partners, and the partnership cannot exceed 3 partners.
• Limited Company: All shareholders and directors must be HK tax residents, natural persons, hold valid HKIDs, and the company cannot have more than 4 shareholders or directors.

Otherwise, you'll need to complete the process with an in-person appointment.

Our Verdict: 7/10

ZA Bank keeps the onboarding process clean, if your business is simple and local. But the criteria are tight. Everyone involved must be a Hong Kong tax resident, and once your company has more than a few directors or shareholders, you’re pushed into an in-person meeting. That takes away from the digital convenience they’re aiming for.

If you're a small, founder-led business based in Hong Kong, it's easy to set up. But if you're running a more layered structure or have cross-border partners, you may hit friction early on.

ZA Bank Alternative: Statrys

If you need access to more currencies or want better control over FX costs, consider Statrys.

Statrys is a licensed payment service provider in Hong Kong that offers digital-only solutions, including multi-currency business accounts tailored to businesses registered in Hong Kong, Singapore and the British Virgin Islands (BVI).

With a Statrys business account, you can hold funds in 11 major currencies: HKD, CNY, USD, EUR, GBP, SGD, AUD, JPY, CHF, NZD, and CAD, with one account number. Local payments in Hong Kong are free to receive, and sending payments costs just HKD 5.

Statrys supports local payments in 12 currencies, providing faster and cheaper transactions for paying suppliers and employees. Businesses can also lock in exchange rates for up to 12 months with forward contracts.

Additionally, Statrys offers payment cards for online and in-store purchases, plus ATM withdrawals worldwide where Mastercard® is accepted.

Statrys offers dedicated account managers, providing more personalised support compared to many digital banking alternatives. You can contact them via phone, WhatsApp, and WeChat whenever needed.