Top 5 DBS Hong Kong Alternatives in 2025 (and What They Do Better)

If you’re here, there’s a good chance you’ve already tried opening a business account with DBS, or at least thought about it.

Maybe you hit a wall with the onboarding requirements. Maybe you’re based overseas and realised a remote setup isn’t as simple as you hoped. 

DBS is one of Asia’s most established banks, and for many businesses, it delivers. But for others, especially founders building cross-border, digital-first companies — it’s not always the best fit.

In this guide, we compare 5 alternatives to DBS Hong Kong, each with different strengths: faster onboarding, clearer fees, better multi-currency support, or a platform that just feels easier to use. If you're looking for a provider that matches the way you run your business, this is for you.

What Makes a Good Alternative to DBS Hong Kong?

Not every business is the right fit for a traditional bank, and you might be wondering: “What should I look for instead?”

Here are 4 things you should look for in an alternative:

1. Faster onboarding, even without an HKID
Opening a business account with DBS online requires at least one director with a Hong Kong ID. This can be a challenge if you’re based overseas or don’t have local partners. Some alternatives allow you to apply fully online and don’t require a local director, which makes the process faster and more accessible.

💡 If you’re running your business from abroad, check if the provider lets you apply remotely without needing an HKID or in-person visit.

2. Simple and transparent fees
Traditional banks often publish detailed fee schedules, but understanding the actual costs can still be difficult. Between monthly charges, currency conversion spreads, and transaction fees, it’s easy to underestimate what you’ll pay, especially as your business grows.

💡 Look for providers that clearly show their FX rates and fees up front, so your costs stay predictable even as your business grows.

3. Real multi-currency support, not just a balance
It’s not enough to hold funds in multiple currencies. A good provider should let you pay suppliers or clients in their local currency, without forcing you to convert funds first.

💡  Choose a provider that supports local payments in the currencies your business actually uses.

4. Full control, without the paperwork
When something goes wrong, the quality of support makes all the difference. Some providers offer live chat or a dedicated manager, while others route you through email or phone support with long wait times.

💡 Check recent user reviews on platforms like Trustpilot to see how responsive and helpful the support team really is.

Statrys is a payment service provider in Hong Kong, and we offer a range of payment solutions to businesses registered in Hong Kong, Singapore, and the British Virgin Islands (BVI). These include virtual business accounts, low-cost telegraphic transfers, business expense cards, and more.

Statrys is licensed and regulated by the Hong Kong Customs and Excise Department and now served over 5,000 businesses worldwide. Each account comes with a dedicated account manger to help your business manage payment with ease.

Key Services Offered by Statrys

• Multi-Currency Account: Hold and manage funds in 11 currencies, including USD, HKD, RMB, AUD, EUR, GBP, SGD, JPY, CHF, NZD, and CAD.
• Global Payments: Send funds to 140+ countries via SWIFT, or use local payment options in 12 currencies to save on transfer fees.
• Business Expense Cards: Issue virtual and physical Mastercard® cards to track and manage business spending.
• Xero Integration: Sync transactions automatically with Xero to simplify bookkeeping.
• MT103 Document Access: Download proof of payment (or MT103) online for free.
• Personalised service: A dedicated account manager for every business account who is available via phone, WhatsApp, WeChat and more.

Statrys Fees

The Hong Kong and Shanghai Banking Corporation (HSBC) is one of the leading financial institutions. Established in Hong Kong in 1865, it is now a subsidiary of HSBC Holdings plc, a British banking group headquartered in London. 

HSBC Hong Kong offers a wide array of business banking services, including Business Integrated Accounts, Business Instalment and Profits Tax loans, and HSBC Business Mastercard® credit cards.

Key Services Offered by HSBC Hong Kong

• Business Integrated Account: Manage your deposits in 12 currencies, including HKD, USD, GBP, EUR, JPY, and SGD, and access the functions of savings, current, time deposit, and investment accounts under one account number.
• Payroll Service: Set up and automate payroll payments from your business account with no annual or registration fees.
• WeChat Banking and Notification Service: Receive real-time WeChat notifications on account balance and transactions.
• Real-Time Remittance: Send same-day remittances to Greater China (Service available for HSBC Business Direct and BusinessVantage clients).
• Xero Integration: Seamlessly manage your accounting process with Xero accounting software integration.
• HSBC Business Mastercard®: Earn RewardCash for every card spending and benefit from discount offers as well as an interest-free repayment period of up to 56 days.

HSBC Hong Kong Fees

Please refer to HSBC's Commercial Tariff document for updated pricing information.

Pros and Cons of HSBC Hong Kong

Founded in 1933, Hang Seng Bank is a part of the HSBC Group. Headquartered in Hong Kong, the bank has a wholly-owned subsidiary in mainland China, branches in Macau and Singapore, and a representative office in Taipei.

Hang Seng Bank currently provides services to close to 4 million customers and has over 260 service outlets in Hong Kong. Its business banking products include Integrated Business Solutions Account, Biz Virtual+ Account, Visa Platinum Commercial Card, and Bill Payment Collection Service.

Key Services Offered by Hang Seng Bank

• Integrated Business Solutions Account: An all-in-one business account that combines the features of HKD current, savings (in HKD, RMB, and foreign currencies), time deposit, investment, and Statement Gold accounts under one account number for convenient access.
• Biz Virtual+ Account: Biz Virtual+ Account is an integrated account designed to provide local startups and SMEs with digital convenience and a simplified application process.
• AutoSweeping Service: Automatically moves funds from your savings account to cover any overdrafts or surpassing your credit limit.
• Payroll Services: Automates salary payments and helps generate employee tax returns.
• Hang Seng Commercial Card: Choose from HKD Commercial World Mastercard®, UnionPay Renminbi Diamond Commercial Card, or HKD Visa Platinum Commercial Card to facilitate business spending and operations.
• Investment and Treasury Services: Integrate your business account with an investment sub-account to protect your funds from currency exchange and interest rate fluctuation risks.

Hang Seng Bank Fees

For more details, please refer to Hang Seng’s service fee table.

Pros and Cons of Hang Seng Bank

Founded in Melbourne in 2015, Airwallex is one of the fast-growing fintech companies, specialising in cross-border money transfer solutions for businesses. It has since expanded to 19 offices around the world, including Hong Kong, Singapore, and Malaysia.

Airwallex’s services are exclusively for business customers, with an extensive payment network allowing users to send money to over 150 countries in more than 60 currencies. 

Key Services Offered by Airwallex

• Global Accounts: Open local currency accounts with unique account numbers and local account details in 13 locations, including Hong Kong, Singapore, Europe (SEPA), the UK, and the US.
• Airwallex Borderless Cards: Make business purchases in multiple currencies with multi-currency prepaid Visa cards for your company and employees.
• Core API: Programmatically manage your finances with APIs for accepting payments, making global payouts, and more.
• Accounting Software Integration: Connect to software such as Xero, NetSuite, and QuickBooks to simplify your accounting process.
• Batch Transfers: Send money to up to 1,000 recipients across countries, currencies, and transfer methods.

For detailed Airwallex Hong Kong fees, please visit their Pricing page.

Pros and Cons of Airwallex

OCBC Bank (Hong Kong) is a wholly owned subsidiary of OCBC Group, the second-largest financial services group in Southeast Asia by assets.

Headquartered in Singapore, OCBC serves businesses in Hong Kong through a broad range of commercial banking solutions. These include SME Business Accounts, business loans, commercial insurance, and MPF services.

The bank has also received multiple industry awards, including being named Best Commercial Bank for SMEs by FinanceAsia Awards.

Key Services Offered by OCBC Bank (Hong Kong)

• Integrated Accounts: Consolidate current, savings and time deposit accounts into one.
• Multi-Currency Business Accounts: Hold and transact in 15 currencies, including HKD, USD, RMB, SGD, EUR, GBP.
• Business Internet Banking: Manage payments, payroll, and statements securely through OCBC Velocity.
• Business Debit Card: Make secure global payments and track expenses in real time.
• Commercial Loans: Apply for working capital loans, equipment financing, and SME business lending.
• Welcome Offer for New Local SMEs: Waived account opening fee (HKD 1,200), search fee (HKD 150) and monthly fee for new SMEs in Hong Kong. (T&C applies)

OCBC Bank (Hong Kong) Fees

Please refer to the Service Fees Booklet for detailed pricing information.

Pros and Cons of OCBC

Whether you are still choosing the business account for your company or looking for an additional account to streamline your business operations, we hope this article helps you narrow down the alternatives for DBS business accounts.

Before making a decision, carefully evaluate your business needs and weigh the pros and cons of each option to ensure optimal efficiency in your business operations.