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An illustration of a piggy bank with different currencies being saved

A multi-currency account in Hong Kong is an account that holds multiple currencies simultaneously within a single account, facilitating seamless cross-border transactions.

Multi-currency accounts work like regular accounts that receive, pay, and hold money, but there are low to no foreign exchange fees, and you can control when you change from one currency to another using a spot trade or equivalent.

Opening a multi-currency account is a simple process with four basic steps. Choosing a bank, gathering, then submitting the required documents, and then activating the account.

What Is a Hong Kong Multi-Currency Account?

A multi-currency account is a type of account that lets you manage multiple currencies simultaneously in one single account.

They should allow you to do cross-border transactions seamlessly, with low to no fees, and they make it possible for you to control when to exchange the currencies – ensuring the rates are always favourable to you. 

A defining feature of a multicurrency account is that details like the beneficiary name, account number, and SWIFT code all remain the same, even as you use different currencies. Sometimes, multi-currency accounts are called foreign currency accounts.

A dropdown of some supported currencies by the Statrys business account.
  Local Currency Business Account Multi-currency Business Account 
Currency Options Typically limited to one local currency (e.g., HKD in Hong Kong) Offers multiple currency options (e.g., HKD, RMB, JPY, USD, EUR, GBP, etc.)
Foreign Exchange Fees Higher foreign exchange fees for currency conversion. Lower or no foreign exchange fees for transactions between supported currencies
Exchange Rate Flexibility Fixed exchange rates set by the bank for currency conversion Ability to take advantage of favorable exchange rates for different currencies at different times

What Makes Hong Kong Multi-Currency Accounts Unique?

Hong Kong multi-currency accounts should function as standard ones do. Rather, it’s the fact that Hong Kong's multi-currency account offerings are so plentiful that makes this region unique.

In Hong Kong, they typically support the regional currencies – HKD, CNY, and JPY. They almost always support global currencies such as USD, Euros, and so on, too. In fact, transfers involving CNY should be much more efficient in Hong Kong since it is a global hub for that currency.

💡 Did you know? Over half of the money circulating in the Hong Kong economy is foreign currency in recent years.

Furthermore, the financial regulatory framework of Hong Kong makes doing international business across borders and across multiple currencies much more reliable. As a port city, it is a popular trading hub and a gateway to China, especially southern China.

How Do Multi-Currency Accounts Work?

A multi-currency account works by allowing you to receive and pay money in all the supported currencies without having to convert them first, assuming it’s a supported currency. 

You can also make internal account currency changes at the moment you like with a rate that you see in real-time - which is sometimes called a spot trade. 

Spot Trades

A spot trade allows you to exchange one currency for another using a rate that you can see in real-time. Spot trades are valuable since you choose when you do the exchange – unlike in a traditional bank where they convert it for you with a rate that is not shown to you. The conversion in a traditional bank happens immediately upon receiving the funds. 

Most spot trades have a T+2 settlement date, meaning that your order will be executed two full trading days after you order it, but you will still get the rate you saw in real-time upon ordering. 

💡 Tip: While your goal may not be to trade forex, it’s still helpful to have a basic understanding of the foreign exchange market when doing international business.

How Might This Work In Reality?

Let’s look at an illustrative example to understand how multi-currency accounts work in practise.
First, let’s say you are using a traditional local currency bank account.

If a deal is made between you, a Hong Kong-based business, and a client based in the US. You want to sell goods at a total price of USD 10,000, which, let’s say, is HKD 78,000. And let’s say you expect a profit of HKD 10,000. 

Perhaps when your client finally pays you months later, that USD 10,000 is only worth HKD 72,000, lowering your profits to HKD 4,000. 

However, if you had a multi-currency account, your client would simply pay you USD 10,000, and you would receive USD 10,000 in your account. Even if the exchange rate makes it equal to HKD 72,000, you do not have to realize this loss at this time. 

It’s possible for you to wait as long as you like until the exchange rate returns to something favourable – say, it goes up to HKD 79,000. You can then use a spot trade to secure this HKD 79,000 conversion rate immediately.

Then your profit would be HKD 11,000.

Statrys mobile application dashboard showing a total balance in a business account.

I looked for an account that offered flexibility, low fees, and strong security measures, all of which are critical for managing international investments efficiently.

Adam Garcia
Finance and Investing Expert


How long did it take you to open a multi-currency account in Hong Kong?


Opening a multi-currency account in Hong Kong was a relatively swift process, thanks partly to my familiarity with the financial market's dynamics and having the right documentation ready. From the initial inquiry to getting the account operational, the entire process took just a few weeks.

What was the account opening process like in Hong Kong?


How did you find the right multi-currency account for your business?


How secure are multi-currency accounts in Hong Kong?


Who Should Open a Multi-Currency Account?

Businesses that consistently deal with CNY or HKD and other commonly supported currencies such as USD, EUR, GBP, SGD, AUD, CAD, and so on would benefit from having a foreign currency account. Similarly, businesses that employ or contract in other countries in various currencies would find value in such accounts. Additionally, businesses conducting sales in multiple currencies can find advantages in utilizing foreign currency accounts.

How To Open A Multi-Currency Account

To open a Hong Kong multi-currency account, you can follow these steps:

Step 1: Decide Which Bank or Account Provider To Use:

Select a bank or virtual bank that aligns with your needs. Prioritise researching their offerings, fees, terms, conditions, and eligibility requirements.

Here are some well-known banks in Hong Kong to consider:

1. DBS

  • Offers up to 13 currencies
  • No foreign exchange fees or debit card fees.
  • Free ATM withdrawals at specific locations
  • $7 fee for other overseas withdrawals. 
  • No account fees


  • Allows storage in 10 currencies
  • Free ATM withdrawals at HSBC ATMs worldwide
  • 1% cash back on eligible spending 
  • No fees at HSBC ATMs, high ATM withdrawal limit of 10,000 SGD.

If traditional banks are not what you are looking for, then Statrys could be an option. 


  • Hong Kong multi-currency business account supporting 11 currencies 
  • Competitive FX rates, based on real-time midmarket rates, fees as low as 0.1%
  • Offers ATM withdrawals with a fee of 1.99% (Minimum HKD 31).
  • Dedicated account manager, communication through Live Chat, Email, Phone, WhatsApp, and WeChat.

⚠️ Important: When researching neobanks, be sure that they are licensed. In Hong Kong, the authority that licenses neobanks – sometimes called money service operators – is the Customs and Excise Department (C&ED). You can check on the C&ED website to search for licensees. 

A dropdown of some supported currencies by the Statrys business account.

Step 2: Gather Required Documents:

Prepare necessary documents like your official identity document (passport or HK ID card), proof of address, valid visa, and employment confirmation if applicable.

⚠️ Note: If you are opening a multi-currency account with a traditional bank in Hong Kong, you often must visit the bank’s branch in-person to verify your identity and go through other administrative checks.

Step 3: Complete the Application Process:

Submit the required documents and go through any additional verification steps as requested by the bank, which may include in-person interviews. Note that virtual banks, online banks, or neobanks typically do not require in-person interviews. 

Step 4: Activation:

Once your details are verified, you will be able to start using your multi-currency account to manage different currencies effectively.

Each account provider or bank may have specific procedures and requirements, so it's advisable to check with the chosen bank or account provider for the most up-to-date information on opening a multi-currency account.

💡Tip: With non-traditional money service providers or neobanks, such as Statrys or Chime, the fees can be significantly lowered. 


Multi-currency accounts in Hong Kong stand out as an essential financial tool for businesses and individuals engaged in international transactions. They offer a streamlined approach to managing multiple currencies, saving costs on foreign exchange fees, and providing users with strategic control over currency exchange rates. 

The unique financial landscape of Hong Kong, combined with its position as a global trading hub, makes these accounts especially beneficial in this region. Whether for business or personal use, a multi-currency account can simplify the complexities of dealing with foreign currencies and enhance financial efficiency. 

With a range of options from traditional banks to neobanks, individuals and businesses can find solutions that best meet their needs, ensuring they can manage their finances with greater agility in the global marketplace.

A dropdown of some supported currencies by the Statrys business account.


Who offers multi-currency accounts?

Traditional banks such as DBS and HSBC and neobanks such as Statrys, Airwallex, and Currenxie offer multi-currency accounts for business. Some offer personal accounts as well.  

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