9 Key Things to Know Before Opening a ZA Bank Business Account [2026]

If you are considering ZA Bank for your business, it helps to understand a few things before you apply. ZA Bank is one of the fastest business accounts to open in Hong Kong — but there are specific eligibility requirements, fee structures, and limitations that affect whether it is the right fit for your company.

This guide covers 9 things worth checking before you start the application, based on ZA Bank’s published terms and verified pricing as of May 2026. Statrys operates in the same market as ZA Bank in Hong Kong, so I have tried to present this information as accurately as possible.

1. ZA Bank Requires a Valid HKID for Every Director, Shareholder, and Partner

The most important eligibility check before anything else: every connected party must hold a valid Hong Kong Identity Card. One person without an HKID moves the entire application offline — or blocks it entirely.

ZA Bank’s online application is only available when all directors, shareholders, and partners hold a valid HKID. This applies regardless of shareholding size or role. There are no exceptions for the online route.

If even one connected party does not hold an HKID, ZA Bank may redirect your application to offline processing via a Relationship Manager, or the application may not proceed at all.

2. Only Simple, Single-Layer Company Structures Can Apply Online

ZA Bank’s online application works for sole proprietorships, partnerships with up to 3 partners, and limited companies with up to 4 shareholders or directors — all of whom must be natural persons. More complex structures must go through a Relationship Manager offline.

Corporate shareholders (where a company, not an individual, holds shares) are not accepted for the online application. Bearer share entities are not accepted. The business must be registered and actively operating in Hong Kong.

Note: Even if the above requirements are met, the rest of your application may still be moved offline for other considerations. If so, ZA Bank’s Relationship Manager will contact you.

3. The Account Costs HKD 1,500 to Open, Then HKD 138 Per Month from Year Two

ZA Bank advertises free account opening. However, to open a Business Banking account online, you must prepay 12 months of service fees, amount to HKD 1,500. From month 13 onward, a monthly fee of HKD 138 applies unless your Total Relationship Balance remains at or above HKD 50,000.

Total Relationship Balance is the average balance across your ZA Bank accounts over the preceding period.

Verify current fee details directly at ZA Bank’s official business page.

4. ZA Bank Supports 11 Currencies and Transfers to 140+ Countries

ZA Bank supports 11 currencies for business savings accounts — more than most digital banks in Hong Kong — and international remittances to over 140 countries via ZA Remit, in partnership with Wise.

Supported currencies (for savings): HKD, USD, CNY, EUR, GBP, SGD, AUD, CAD, JPY, NZD, and CHF.

For incoming and outgoing CHATS transfers, ZA Bank only supports HKD, USD, and CNY. Any local transfers in other currencies, if available, can only be made through SWIFT (Telegraphic Transfer).

Key features of the ZA Bank business account:

• Local and overseas transfers: FPS (HKD, CNY), CHATS (USD), SWIFT (international)
• International remittances to 140+ countries via ZA Remit (in partnership with Wise)
• Time deposits in HKD, CNY and USD 
• Business loans up to HKD 4 million (for companies operating at least 1 year)
• No business debit card (Only personal debit card available)

5. You Need Certified Copies of ID and Business Documents from Every Connected Party

ZA Bank requires certified copies of HKID and business registration documents from every director, shareholder, and partner. Having these ready before you start prevents delays, since ZA Bank notifies each party separately to complete their own identity verification.

Sole proprietorship: Certified copy of HKID; proof of address; Business Registration Certificate; proof of business activity (invoices, contracts, or website).

Partnership: Certified copies of HKIDs for all partners; proof of address for all partners; Partnership Agreement; Business Registration Certificate; proof of business activity.

Limited company: Certified copies of HKIDs for all directors and shareholders; proof of address for all parties; Certificate of Incorporation; Articles of Association; Business Registration Certificate; proof of business activity, ownership chart if applicable 

All copies should be certified by a professional such as a solicitor or accountant. ZA Bank may request additional documents depending on your business. Check ZA Bank’s official Document Checklist before applying.

6. The Application Takes About 6 Minutes, and Approval Can Come in One Business Day

ZA Bank is one of the fastest business accounts to set up in Hong Kong for eligible companies — around 6 minutes to complete the form, with approval possible in one business day. The main variable is how quickly each connected party completes their identity verification via the app.

Once you submit the application, ZA Bank notifies all connected parties separately to complete their identity verification. Approval timelines depend on how quickly each party responds.

For businesses where all connected parties are prepared and the structure is straightforward, the account can be fully open and operational within one working day. More complex cases, or those requiring offline review, take longer.

7. Identity Verification Happens Via the ZA Bank App - Followed by KYC Phone Call

Each connected party must complete their identity verification through the ZA Bank app. If any party does not have the app or cannot complete the selfie check, the process stalls.

Each person must:

• Download the ZA Bank app (if they do not already have it)
• Provide their HKID details
• Complete a selfie check
• Sign the application electronically

This step must be completed by everyone before the KYC phone call can proceed. Prepare connected parties in advance so they know to expect the notification and can complete verification promptly.

8. ZA Bank Is a Fully Licensed Bank — Not an MSO or Payment Institution

ZA Bank holds a full banking licence from the HKMA under the Banking Ordinance, which means client deposits are protected under the Hong Kong Deposit Protection Scheme up to HKD 800,000 per depositor. This is a meaningful difference from non-bank alternatives.

Unlike Money Service Operators (MSOs) or stored-value facility providers, ZA Bank operates under the same regulatory framework as HSBC or Hang Seng Bank. For businesses that need a licensed bank account to satisfy third-party requirements — trade finance, certain regulatory filings, or institutional client relationships — this matters.

9. How to Open a ZA Bank Business Account: Step by Step

The application is 100% online and takes around 6 minutes. Five steps, completed through the ZA Bank website and app.

Step 1: Register the contact person

Go to the ZA Bank Business page and click “Apply Now.” The contact person must be the sole proprietor, a shareholder with 25%+ shares, or a director or partner. Enter their full name (matching the HKID exactly), email, and mobile number for OTP verification. Only individuals holding a valid HKID can initiate the online application.

Step 2: Provide company and connected parties’ details

Enter business registration details, business and mailing address, tax residency, and information on all connected parties (shareholders, directors, partners). ZA Bank will notify each party directly to complete their own verification via the app. Applications not meeting online eligibility criteria may be redirected to a Relationship Manager.

Step 3: Each connected party completes identity verification

Every director, shareholder, or partner must open the ZA Bank app, provide their HKID, complete a selfie check, and sign the application electronically. This must happen before the KYC call can proceed.

Step 4: Join the KYC call

ZA Bank calls the registered contact person to verify submitted details. Be available to confirm company and personal information during this call.

Step 5: Receive confirmation and activate your account

Once approved, you will receive an email confirming account activation. 

Not Eligible for ZA Bank? Try Statrys

If any director, shareholder, or partner does not hold an HKID, ZA Bank’s online application is not available. Statrys is one of the direct alternative for Hong Kong-registered companies with foreign directors or non-HKID shareholders.

Statrys is not a bank, but a licensed Money Service Operator in Hong Kong. Applications are entirely online, passport identification is accepted, and there is no residency requirement for any connected party.

Statrys supports 11 currencies with FX fees from 0.1%, includes Xero integration and assigns a dedicated account manager to every account. Over 10,000 SMEs use Statrys for international payments. 96% of accounts open within 3 business days.