The 7 Best Banks To Use in Hong Kong in 2025

Overwhelmed by your Hong Kong banking options? You’re not alone.
With over 150 licensed banks and wildly different fees, onboarding times, and digital capabilities,  finding the right fit can be frustrating. Whether you’re a local entrepreneur, a foreign founder, or just tired of paperwork delays, this guide breaks down what really matters.

Here’s what we’ll cover:

✅ 7 top-rated banks in Hong Kong for individuals and SMEs
✅ Key strengths, weaknesses, and fees you should know before applying
✅ Smart tips to help you avoid delays, hidden costs, and unsuitable picks

Let’s dive in and find the right banking partner for your needs.

Before diving into the full profiles, here’s a quick comparison of monthly fees, remote setup availability, and which type of customer each bank suits best.

DBS Bank (Hong Kong) is the local branch of Singapore’s leading bank. It is known for its strong regional presence and digital-first approach. DBS has been recognised as the Safest Bank in Asia for 16 consecutive years by Global Finance. It offers a wide range of banking services tailored for individuals, expats, and small businesses.

The bank supports multi-currency accounts, cross-border payments, and remote onboarding. This makes DBS a strong option for customers seeking convenience, international functionality, and financial security on a single platform.

DBS Bank (Hong Kong) Key Features

• Multi-currency banking: Personal and business accounts can hold up to 14 currencies in one place.
• Digital-first banking: DBS Digibank (for individuals) and DBS IDEAL (for businesses) offer 24/7 access to accounts, transfers, and investment tools.
• DBS Remit: Enables international money transfers with zero fees to selected markets and competitive exchange rates.
• SME packages: Tailored banking solutions for startups and growing businesses, including trade finance and treasury services.
• RMB services: Specialised support for cross-border China-Hong Kong transactions with dedicated FX tools and accounts.
• 24/7 Digibot: A virtual assistant that helps with routine inquiries such as balance checks and service requests, reducing hotline wait times.

DBS Bank (Hong Kong) Fees

For full details on rates, transfers, and additional service fees, refer to the official DBS Hong Kong Fee Schedule.

DBS Bank (Hong Kong) Eligibility and Account Opening

Personal Accounts

Available to applicants aged 18+ with a valid HKID or passport. You can apply online via the DBS Digibank app with ID and address proof. Most accounts are approved within 1–2 business days.

Business Accounts

Open to Hong Kong-registered companies, including limited companies, sole proprietorships, and partnerships. Overseas entities may apply but face stricter checks and higher fees. 

Applications start online via DBS IDEAL or by appointment. You'll need business registration, incorporation papers, and IDs for directors and shareholders. Approval typically takes 2–3 weeks.

Pros and Cons of DBS Bank (Hong Kong)

Is DBS Bank (Hong Kong) Right for You?

DBS Bank (Hong Kong) is a great choice for SMEs, startups, and international professionals who need reliable cross-border banking, especially in multiple currencies. The combination of strong digital platforms (Digibank and IDEAL), waived FX fees on personal accounts, and zero-fee remittances to selected markets makes it ideal for globally-minded businesses.

However, it may not be the best fit if you:

• Can’t maintain a high account balance (HKD 50K+ for businesses)
• Need faster business account setup (processing may take 2–3 weeks)
• Is a foreign-incorporated company trying to avoid high setup costs

✔️ Best for:

• SMEs with international clients
• Startups trading in multiple currencies (USD, EUR, RMB, etc.)
• Remote or tech-driven businesses looking for a digital-first bank

❌ Not ideal for:

• Budget-conscious startups with limited initial capital
• Companies needing a local branch network or in-person support
• Businesses incorporated outside Hong Kong looking for low-cost setup

HSBC is one of Hong Kong’s most established banks, known for its strong local presence and global reach. With a wide branch and ATM network, trusted reputation, and extensive international services, it appeals to residents, expats, startups, and SMEs.

The bank supports HKD, RMB, and multi-currency accounts. You can manage your banking through its full-featured online platforms or mobile app. HSBC is especially suitable for those who need cross-border services, access to overseas HSBC accounts, or a mix of digital and in-person banking.

HSBC (Hong Kong) Key Features

• Flexible account tiers: Choose from HSBC One (basic) or upgrade to Premier and Premier Elite for higher privileges. Private Banking is available for high-net-worth individuals.
• Multi-currency accounts: Hold up to 11 major currencies in one account, including HKD, USD, and RMB.
• Mobile app access: Use the HSBC HK App for transfers, bill payments, and investment tools. Lite Mode is available for a simplified interface.
• Business banking options: Choose HSBC Sprint for quicker onboarding or BusinessVantage for more established operations.
• FX and RMB services: Access real-time exchange rates, currency conversions, and full RMB support for trade and cross-border use.
• Global connectivity: Link HSBC accounts across countries, open accounts remotely, and access Greater Bay Area (GBA) support for China-Hong Kong business integration.
• HSBC Global Transfers: Send money instantly and for free to HSBC accounts in over 20 countries. Available for self-named or third-party transfers via the mobile app.

HSBC (Hong Kong) Fees

For full details, see the HSBC Commercial Tariffs and Personal Banking Fees pages.

HSBC (Hong Kong) Eligibility and Account Opening

Personal Accounts

Available to individuals aged 18+ with a valid HKID or passport. Apply via the HSBC HK App, online portal, or at a branch. You’ll need ID and address proof. Most accounts are processed in 1–3 business days.

Business Accounts

Open to companies registered in Hong Kong or select overseas jurisdictions. Apply via HSBC Business Internet Banking or in person. Required documents include a business registration certificate, incorporation papers, and IDs for all directors and shareholders. Processing takes around 2–4 weeks, depending on company structure.

Pros and Cons of HSBC (Hong Kong)

Is HSBC (Hong Kong) Right for You?

HSBC (Hong Kong) is well-suited for individuals and businesses with cross-border needs, especially those operating between Hong Kong and mainland China. Its wide branch network, global brand recognition, and integration with HSBC accounts in other regions make it a strong option for internationally connected users. Multi-currency accounts and tiered services offer added flexibility for more established clients.

However, it may not be the best fit if you:

• Prefer fast, fully online onboarding (setup may take longer)
• Are working with limited initial capital and want to avoid high monthly fees
• Need a simpler setup without complex service tiers

✔️ Best for:

• Users with existing HSBC accounts overseas
• Businesses trading across Hong Kong, mainland China, or the UK
• Individuals seeking global banking features under one brand

❌ Not ideal for:

• Startups or small businesses with tighter budgets
• Founders looking for a quick, fully digital setup
• Entrepreneurs without local proof of address or in-person access

Hang Seng Bank is one of Hong Kong’s leading local banks, majority-owned by HSBC Group. It’s known for strong support for retail and SME clients, a broad network of branches and ATMs, and regional capabilities that support cross-border business with mainland China.

Hang Seng suits individuals and small businesses looking for a local-first experience, multi-currency features, and specialised services for the Greater Bay Area (GBA).

Hang Seng Bank Key Features

• Multi-currency accounts: Hold up to 12 major currencies, including HKD, USD, RMB, and EUR, under a single integrated account.
• Digital and mobile banking: Manage transactions, transfers, and FX using Personal e-Banking and Business e-Banking platforms.
• GBA and RMB support: Services tailored for China-Hong Kong cross-border activity, including RMB trade settlement and remittance tools.
• Tiered relationship programmes: Choose from Preferred, Prestige, or Private Banking to access personalised benefits based on balance tiers.
• Business services: Access SME banking packages, trade finance, treasury services, and business credit cards.

Hang Seng Bank Fees

For full details on service charges, see the official Hang Seng Personal Banking Fee Schedule and Business Banking Tariff .

Hang Seng Bank Eligibility and Account Opening

Personal Accounts

Available to individuals aged 18+ with a valid HKID or passport. Apply online or at a branch, though most accounts require in-person verification.

Business Accounts

Open to companies registered in Hong Kong. Overseas entities may also apply but are reviewed case by case. Start your application via Business e-Banking or in person. 

Required documents include a business registration certificate, incorporation papers, and IDs for all directors and shareholders. Processing typically takes 2–4 weeks.

Is Hang Seng Bank Right for You?

Hang Seng Bank is a solid option for SMEs with RMB needs, local businesses with China links, and individuals managing cross-border transactions within the Greater Bay Area. Its strong multi-currency support, RMB settlement capabilities, and regional focus make it a dependable partner for businesses operating across Hong Kong and mainland China.

However, it may not be the best fit if you:

• Want faster onboarding with fewer in-person requirements
• Prefer transparent, predictable fees across all tiers
• Need a modern, digital-first banking experience

✔️ Best for:

• SMEs engaging in RMB trade or working with mainland clients
• Hong Kong-based companies with operations in the Greater Bay Area
• Individuals looking for a traditional local bank with international capabilities

❌ Not ideal for:

• Startups or foreign founders seeking fast, online account setup
• Businesses that prioritise fee transparency and digital tools
• Companies uncomfortable with maintaining minimum balance requirements

Bank of China (Hong Kong), or BOCHK, is a major local bank and the official Renminbi (RMB) clearing bank in Hong Kong. It is well known for its strong links with mainland China and its focus on cross-border trade, remittances, and RMB services.

The bank offers personal and business accounts with multi-currency support, digital banking, and cost-efficient money transfer tools. BOCHK suits individuals and companies with exposure to China or those looking for regional banking solutions. However, while its remittance fees are clearly stated, foreign exchange pricing is less transparent, which may make it harder to estimate the true cost of international payments or conversions.

Bank of China (Hong Kong) Key Features

• Multi-currency accounts: Hold HKD, RMB, USD, and other currencies in a single account.
• BOC Remittance Plus: Offers low-cost or free transfers to Bank of China accounts in mainland China and selected destinations.
• RMB clearing and GBA support: Specialised products for businesses operating across Hong Kong and southern China.
• Digital access: Manage your accounts using the BOCHK Mobile App or internet banking. Personal accounts can often be opened online.
• Business account packages: Integrated Business Solutions (IBS) accounts include access to FX, trade finance, and commercial cards, with added privileges based on your overall balance with the bank.

Bank of China (Hong Kong) Fees

You can find the full fee details on the BOCHK personal and corporate service charge pages.

Bank of China (Hong Kong) Eligibility and Account Opening

Personal Accounts

Available to individuals aged 18+ with a valid HKID, passport, or PRC ID. Applicants must provide a residential address in Hong Kong, mainland China, or the Greater Bay Area. Most Hong Kong residents can apply online via the BOCHK Mobile App using tools like iAM Smart, though some may still need to visit a branch for verification.

Business Accounts

Open to companies registered in Hong Kong or eligible overseas jurisdictions. Required documents include a business registration certificate, incorporation papers, and IDs for key individuals. 

Applications can start online, with a 20% setup fee discount for digital submissions. In-person verification is usually required. Processing takes around 2–4 weeks.

Is Bank of China (Hong Kong) Right for You?

Bank of China (Hong Kong) is a good fit for businesses involved in China–Hong Kong trade, especially those that need RMB accounts, multi-currency support, and access to Greater Bay Area financial services. Its regional presence and cross-border capabilities make it a practical choice for companies already active in the Chinese market.

However, it may not be the best fit if you:

• Need clear, transparent pricing and easy access to fee details
• Prefer fast, fully digital onboarding
• Are just starting out and looking for a simple account setup

✔️ Best for:

• Hong Kong-based companies trading regularly with mainland China
• Businesses that need RMB settlements and support for cross-border growth
• Firms familiar with traditional banking formats

❌ Not ideal for:

• Entrepreneurs seeking easy, online account setup
• Companies needing full fee transparency or competitive FX rates
• Startups with limited time or resources for in-person verification

Citi is the Hong Kong branch of Citibank, a global financial group operating in over 180 markets. Known for international banking and multi-currency support, Citi appeals to expats, professionals, and SMEs with cross-border needs.

The bank offers tiered personal and business services, but most accounts require in-person onboarding. Business account fees are based on the authorised signatory’s personal tier, which may affect transparency for SMEs.

Citibank Hong Kong Key Features

• Multi-currency accounts: Hold up to 14 major currencies in one account, including HKD, USD, RMB, EUR, and GBP. FX tools are available via Currency Manager for time deposits and exchange tracking.
• Tiered personal banking: Choose from Citi Plus (no minimum balance) or upgrade to Citi Priority, Citigold (HKD 1.5M+), or Citigold Private Client (HKD 8M+). Higher tiers offer added wealth tools and benefits based on how much you hold across your Citi accounts.
• RMB services: Access RMB accounts, investments, and trading tools such as Shanghai-Hong Kong Stock Connect. Time deposits start from RMB 1,000.
• Digital access: Manage accounts using Citibank Online or the Citi Mobile® App. Tools include real-time FX, e-Statements, card controls, and in-app chat for higher-tier clients.
• Global Wallet debit card: Citi Debit Mastercard® offers 0.5% cashback (1% for the first 6 months), supports preloaded foreign currencies with no conversion fees, and enables free withdrawals at Citi and JETCO ATMs worldwide.
• Business banking: CitiBusiness® accounts provide support for local/overseas payments, FX services, payroll, and trade tools. Fees and benefits vary by the authorised signatory’s personal tier.

Citibank Hong Kong Fees

For the latest details, refer to Citi’s Personal Banking Fee Schedule. Business account fees are not publicly disclosed. Contact Citi directly for more information.

Citibank Hong Kong Eligibility and Account Opening

Personal Accounts

Available to individuals aged 18+ with a valid HKID or passport and a Tax Identification Number (TIN). Applications must be completed in person at a Citibank branch. Remote onboarding is not available.

Business Accounts

Open to companies registered in Hong Kong. Required documents include a Business Registration Certificate, incorporation papers, and IDs for all directors and shareholders. 

Applications are by appointment only and must be completed in person. Citi may offer simplified onboarding for select tech startups, subject to review.

Is Citibank Hong Kong Right for You?

Citibank Hong Kong is a strong choice for expats, professionals, and SMEs with global banking needs. It offers multi-currency support, free international transfers, and access to premium debit cards. These features are particularly beneficial if you already bank with Citi in another country or need to manage funds across different markets.

However, it may not be the best fit if you:

• Need remote onboarding or want to open an account fully online
• Prefer transparent SME pricing with no surprises
• Run a startup or small business looking for a faster or lower-cost setup

✔️ Best for:

• International clients with existing Citi relationships
• Professionals managing multi-market finances
• Businesses valuing premium services and global access

❌ Not ideal for:

• Remote entrepreneurs needing digital onboarding
• Budget-sensitive SMEs seeking clear, low-cost fee structures
• First-time users without a prior Citi banking history

Standard Chartered is one of Hong Kong’s oldest banks and one of the city’s three note-issuing institutions. It operates as a subsidiary of the UK-based Standard Chartered PLC and offers full-service banking for individuals, expats, and SMEs.

In Hong Kong, the bank is known for its strong multi-currency features, RMB support, and international presence. It offers relationship-tiered services, ranging from Easy Banking to Priority Private, with perks like Asia Miles rewards, FX cashback, and wealth tools. Business users benefit from integrated FX, trade finance, and GBA-focused tools like the GBA One Programme.

Standard Chartered Hong Kong Key Features

• Multi-currency accounts: Hold and spend up to 11 currencies with a Standard Chartered Debit Mastercard. FX fees are waived when you use preloaded currency balances.
• Digital platforms: Use the SC Mobile app or Straight2Bank for account management, payments, investments, and business operations.
• FX membership programme: Personal clients can access better exchange rates and earn rewards based on transaction volume.
• Cross-border payments: Priority clients enjoy zero-fee online transfers in over 20 currencies. Businesses can use telegraphic transfers, limit orders, and hedging tools.
• Business banking tools: Straight2Bank provides access to payroll, trade finance, treasury, and GBA integration via the GBA One Programme.
• SME support: Business loans, working capital, commercial overdrafts, and dedicated programmes for women entrepreneurs (SC WIN) are available.

Standard Chartered Hong Kong Fees

For full details, see Standard Chartered Hong Kong’s service charges.

Standard Chartered Hong Kong Eligibility and Account Opening

Personal Accounts

Open to individuals aged 18+ with a valid HKID or passport. Apply via the SC Mobile app or at a branch. You’ll need to provide ID and address proof. Approval usually takes 3–5 business days.

Business Accounts

Available to companies registered in Hong Kong or supported overseas jurisdictions. Required documents include business registration, incorporation papers, and IDs for all directors and shareholders. 

Applications can start online, but in-person verification is typically required. Processing takes around 2–4 weeks. Fees vary by relationship tier, with higher charges possible for overseas entities.

Pros and Cons of Standard Chartered Hong Kong

Is Standard Chartered Hong Kong Right for You?

Standard Chartered Hong Kong is a solid option for individuals and SMEs managing cross-border finances, especially those active in the Greater Bay Area. It provides multi-currency account tools, Asia Miles rewards, and FX services that suit clients with regional or international exposure.

However, it may not be the best fit if you:

• Prefer quick, fully digital onboarding
• Want transparent pricing without needing to meet high relationship tiers
• Run a lean or early-stage business with limited initial capital

✔️ Best for:

• SMEs with high account balances and international operations
• Frequent FX users needing integrated currency tools
• Clients looking to earn Asia Miles via banking activity

❌ Not ideal for:

• Small businesses wanting a low-cost, simple setup
• Companies needing remote business onboarding
• Users seeking predictable pricing without balance-linked tiers

Bank of East Asia (BEA) is one of the largest independent local banks in Hong Kong, offering a wide range of services for individuals, families, and SMEs. With a history dating back over a century, BEA is known for its strong local presence, branch accessibility, and commitment to relationship-based banking.

BEA serves a diverse client base with multi-currency accounts, business support services, and RMB solutions for cross-border needs. While the bank offers solid in-person and digital options, some account types may require in-branch visits and longer setup times.

Bank of East Asia (BEA) Key Features

• Multi-currency accounts: Hold and manage funds in HKD, RMB, USD, and other currencies. Business accounts support trade-linked currency needs.
• Tiered relationship banking: Access services like SupremeGold and SupremeGold Private, with added privileges based on your total balance with the bank.
• Business tools: Use SME account packages for payroll, remittance, FX, and trade finance support.
• Digital banking: Manage your finances via the BEA Mobile app and i-Statement portal. Business e-Banking is available for company accounts.
• RMB support: Dedicated services for RMB settlements, cross-border transactions, and China-facing businesses.
• Family and wealth services: Personalised products for high-net-worth clients and family offices are available through BEA Private Banking.

Bank of East Asia (BEA) Fees

For full details, view BEA’s Personal Banking Fee Schedule. Business account fees are not published on the company's website. We recommend contacting BEA directly for tailored information based on your company type and account tier.

Bank of East Asia (BEA) Eligibility and Account Opening

Personal Accounts

Available to individuals aged 18+ with a valid HKID or passport and address proof (Hong Kong or overseas). Applications must be submitted at a BEA branch, with in-person verification required. Higher-tier services like SupremeGold may have additional requirements based on financial profile or minimum balance.

Business Accounts

Available to companies registered in Hong Kong or supported overseas jurisdictions. Required documents include a Business Registration Certificate, incorporation papers, and ID for all directors and shareholders. 

Applications must be made in person or by appointment. Processing typically takes 2–4 weeks, with expedited setup possible for eligible SMEs.

Pros and Cons of Bank of East Asia (BEA)

Is Bank of East Asia (BEA) Right for You?

Bank of East Asia (BEA) is a strong choice if you value traditional, relationship-based banking with support for RMB services, cross-border trade, and face-to-face assistance. It appeals to individuals, families, and SMEs that want a long-term partner with physical branch and ATM access in Hong Kong.

However, it may not be the best fit if you:

• Prefer fast, digital onboarding
• Need transparent FX rates and clear fee structures
• Operate a small or remote business with limited capital

✔️ Best for:

• Clients who value in-person support and tiered relationship services
• Businesses managing RMB payments or China–Hong Kong trade
• Families and individuals seeking a local banking presence

❌ Not ideal for:

• Remote founders or overseas SMEs wanting online setup
• Startups needing quick account activation
• Users looking for modern digital features or clear FX pricing

Not sure how to narrow down your bank options? These quick tips will help you match your needs with the right provider and avoid unexpected fees or delays.

1. Make Sure You’re Eligible to Apply

Before comparing banks by features or fees, check whether you meet the basic requirements to apply. Some banks in Hong Kong only accept applications from local residents, while others allow non-residents or remote companies with extra documentation.

For personal accounts, most banks require you to apply in person, especially if you don’t have a Hong Kong ID. A few, like DBS and HSBC, allow remote onboarding for select customers.

For business accounts, requirements vary by provider. Standard Chartered and Bank of China (Hong Kong) support remote applications, but setup can still take time and require local proof. Citibank and BEA typically require an in-person visit. If you’re a remote entrepreneur without a Hong Kong address, options may be limited.

2. Understand the Fees

Bank fees in Hong Kong can stack up quickly. Whether you’re opening a personal or business account, keep an eye on these key costs:

Monthly fees

• Personal: Waived if you meet balance or transfer requirements. Digital banks and Citibank offer low or no-fee options.
• Business: Higher thresholds apply. Some banks waive fees with bundled services or relationship tiers.

Transfer fees

• Personal: Local transfers are often free. International ones may cost HKD 100–200 plus FX margins.
• Business: SWIFT and telegraphic transfers add up. Fee waivers may apply with high volumes or online use.

ATM and card fees

• Personal: Out-of-network withdrawals can cost HKD 20–30. Banks like Citibank offer global fee waivers.
• Business: Many accounts exclude ATM cards. Business debit cards may come with extra charges.

Inactivity and closure fees

• Personal: Inactivity or paper statement fees may apply. Replacement cards can also cost extra.
• Business: Some banks charge early closure fees if the account is shut within a few months.

3. Prioritise Digital Banking

Most banks offer online platforms, but their quality varies. Key things to check are as follows:

• Ease of transactions: Supports same-day local and international transfers, allowing you to manage payments quickly and efficiently.
• Mobile app usability: Some apps are slow or have limited features. Banks like DBS offer full-featured digital access with quick onboarding.
• FPS (Faster Payment System) integration: If you do local business, ensure your bank supports FPS for real-time, fee-free payments.

Opening a business account in Hong Kong can be time-consuming, especially if you’re applying from overseas or don’t meet the minimum balance requirements.

That’s why some entrepreneurs choose fintech alternatives like Statrys.

Statrys offers a multi-currency business account with:

✅ 100% online application
✅ Transparent pricing
✅ No need for in-person visits
✅ Support for non-residents and SMEs

96% of accounts are opened within 3 business days, and each client gets a dedicated account manager. Here’s what you can expect: