Written by Bertrand Théaud, Founder
20+ years in Asia as a corporate lawyer, investor, and fintech founder. I've sat on both sides of the table and seen the same avoidable mistakes hit founders again and again. The reviews and articles I write are for founders who'd rather skip the mistakes.
Launched in 2020, Mox is a Hong Kong-licensed virtual bank backed by Standard Chartered, in partnership with HKT, PCCW, and Trip.com. It's built for everyday personal banking in Hong Kong dollars: free FPS transfers, daily interest on savings, and a card that earns uncapped cashback. For a Hong Kong resident managing personal finances day to day, that combination genuinely works, reflected in a 4.8/5 rating across 92,000+ App Store reviews.
The friction shows up the moment a business owner lands here looking for a company account. Mox does not offer business accounts at all, only personal ones tied to an individual's Hong Kong Identity Card. It's also worth knowing before you rely on the Mox Credit Card for anything beyond routine spending: unpaid balances carry a 35.99% APR, a figure Mox shows in the repayment calculator on its Credit Card page rather than in the headline marketing, which focuses on cashback and instalment flexibility instead.
This review covers what Mox actually costs, who it works for, and where to go if you're a business owner who ended up here by mistake.
At a Glance
| Best for | Hong Kong residents who want free HKD transfers, daily interest, and combined spending and savings in one app |
| Monthly fee | Free (no minimum balance, no account opening fee) |
| Eligibility | Hong Kong permanent or non-permanent residents aged 18+ with a valid HKID and HK address; personal accounts only, no business accounts |
| Currencies | Hold and earn interest on 10 currencies (HKD, USD, AUD, CAD, CNY, EUR, GBP, JPY, NZD, SGD); local transfers and spending limited mostly to HKD |
| Regulatory status | Licensed virtual bank under the Hong Kong Banking Ordinance, regulated by the Hong Kong Monetary Authority (HKMA); member of the Deposit Protection Scheme, deposits protected up to HKD 800,000 per depositor |
| Support | In-app voice call and chat, phone line, email; Trustpilot profile is unclaimed with only 3 reviews, so it isn't a useful signal here |
Mox rewards Hong Kong residents who want a fully digital, HKD-focused personal bank with genuine everyday convenience. It is not an option at all for a business, since Mox has no business account product, and it's a weaker fit for anyone who might carry a Mox Credit Card balance without realising the interest rate that applies once the grace period ends.
Disclosure: Statrys operates in the Hong Kong financial services market. This review was built from Mox's own published fee schedule, regulatory disclosures, and eligibility pages, plus verified App Store, Google Play, and Trustpilot data.
This guide is based on research conducted in September 2026. Fees, eligibility rules, and product features change, so always confirm current terms on Mox's own site before applying.
Who Mox Is Right For
Good fit
- Hong Kong residents whose financial life runs primarily in Hong Kong dollars and who want free FPS transfers and free JETCO ATM withdrawals.
- Savers who want to organise money into named goals, with daily interest credited on balances across HKD, USD, and several other currencies.
- Cardholders who pay their statement balance in full each month and want to earn uncapped cashback without an annual fee.
Not a good fit
- Any business. Mox offers personal accounts only, tied to an individual's HKID, so there is no business onboarding, company account, or business payment tooling of any kind.
- Frequent cross-border spenders. International transfers carry a minimum fee of 1 unit of the currency being sent, currency conversion runs up to 2%, and overseas card spending adds a 1.95% foreign exchange handling fee (waived on Mox Credit Card purchases when you choose Asia Miles rewards, until 31 December 2026).
- Anyone who might carry a Mox Credit Card balance rather than pay it off monthly. The card's marketing centres on cashback and flexible instalments, but the APR on unpaid retail purchases is 35.99%, and cash advances carry a similar 35.93% APR from the moment they're drawn, plus a cash advance fee of 3.5% of the amount or HKD 100, whichever is higher.
Opening a Mox Account
Who Can Apply
Mox accepts Hong Kong permanent and non-permanent residents aged 18 or older who hold a valid Hong Kong Identity Card and have a Hong Kong residential and mailing address. There is no path to a business account through Mox. A company or sole proprietorship cannot open one under a business name, regardless of where the business is registered.
Required Documents
| Document | Purpose |
|---|---|
| Hong Kong Identity Card (HKID) | Identity and residency verification |
| Nationality, place of birth, and preferred account name | Basic applicant profile |
| Mobile number, email, and residential or mailing address | Contact information |
| Tax residency country and tax identification number | Tax reporting compliance |
| Employment details and income information | Financial profile for account assessment |
| Reason for opening the account | Account purpose declaration |
How to Apply
Applying is entirely digital: download the Mox app from the App Store or Google Play, or visit mox.com and scan the QR code to get started. The app walks applicants through personal information, document upload, and a selfie, with account opening typically completed in a few minutes for straightforward cases.
Mox Fees
Mox's day-to-day HKD banking is free: no account opening fee, no monthly fee, free FPS transfers, and free JETCO ATM withdrawals in Hong Kong. Fees below come from Mox's Fees and Charges document, last updated November 2025 and checked in September 2026.
Transfers and Currency Fees
| Fee type | Amount |
|---|---|
| Local HKD transfer (FPS, JETCO, Payment Connect) | Free |
| International transfer (Express Remit) | Minimum 1 unit of the foreign currency being sent |
| Additional fee, USD sent to a non-US country | Minimum USD 1, on top of the standard remit fee (effective since 15 August 2025) |
| Receiving international telegraphic transfers | HKD 50 per transfer (effective since 1 September 2025) |
| Currency exchange | Up to 2% of the amount sold, or the smallest unit of the currency / USD 0.01 equivalent, whichever is higher |
| Overseas card spending (foreign exchange handling fee) | 1.95% (1% Mastercard® + 0.95% Mox) |
| ATM withdrawal, Hong Kong | JETCO: free; Mastercard® network: HKD 20 per transaction |
| ATM withdrawal, overseas | HKD 30 per transaction (JETCO or Mastercard® exchange rate applies) |
| Negative balance (overdrawn beyond HKD 5,000) | HKD 120 per month, starting 30 days after the overdraft occurs |
Mox Credit
| Item | Amount |
|---|---|
| Annualised percentage rate (APR), retail purchases (if unpaid) | 35.99% APR (33.10% p.a. interest rate; 0.0907% daily) |
| Annualised percentage rate (APR), cash advances | 35.93% (0.0834% daily), accrues from the transaction date |
| Cash advance fee | 3.5% of the transaction amount or HKD 100, whichever is higher |
| Annual fee | None |
Mox's headline pricing (free account, free local transfers, and no minimum balance) is genuinely accurate for everyday HKD banking. The fee that actually catches people off guard is on the credit side rather than the banking side. Mox Credit is marketed around cashback and flexible instalments, but if a HKD 5,000 statement balance isn't paid in full by the due date, it accrues interest at 0.0907% a day (a 33.10% p.a. rate, or 35.99% APR). That works out to roughly HKD 136 to 141 a month in interest alone, and the cost scales with whatever's left unpaid rather than being a one-time charge. Mox Credit is a materially different product from a debit-only account, and it's worth understanding before treating the Mox Card as just a cashback tool.
Mox Support & Reviews
| Channel | Availability |
|---|---|
| In-app voice call and live chat | Available in-app |
| Phone | +852 2888 8228 |
| care@mox.com | |
| Trustpilot | Unclaimed profile, only 3 reviews; not a meaningful signal for this provider |
With a Mox account, you can apply for a physical and digital numberless card that lets you switch between your Mox Account balance (debit) and Mox Credit (credit). The card works with Apple Pay and Google Pay and supports JETCO and Mastercard® ATM networks worldwide.
Mox holds a 4.8/5 rating on the App Store from over 92,000 Hong Kong reviews, and 4.6/5 on Google Play from 35,100+ reviews. The rating gap between the two platforms is real, not a rounding difference. Positive reviews across both platforms consistently highlight the app's usability and daily banking experience, while the recurring complaints are technical glitches, transfer limits, and difficulty escalating issues with customer support once something goes wrong.
Here's what that split rating actually means day to day: the app works well when everything goes smoothly, which is most of the time given the volume of positive reviews, but the lower Google Play score suggests a meaningful share of users hit friction, usually a technical issue or a support escalation, on Android specifically. If you need Mox to work reliably every time, not just most of the time, that's worth weighing against how much tolerance you have for occasionally working through app-only support channels to resolve something urgent.
Mox vs Statrys for Business Owners
Mox is not a business account provider, and no comparison table changes that. If you landed on this review searching for a business account, Mox simply isn't an option, regardless of price, features, or rating.
Statrys is built specifically for SMEs, startups, and entrepreneurs registered in Hong Kong and Singapore. Since 2020, Statrys has supported over 10,000 business accounts and processed more than USD 7 billion in transfers. With Statrys, a business can hold and manage 11 major currencies (HKD, USD, EUR, GBP, CNY, SGD, JPY, AUD, CHF, NZD, and CAD) in one account, send and receive local payments via FPS and international payments via SWIFT, hold local currency accounts in the UK, Germany, Luxembourg, Australia, Denmark, and Liechtenstein, convert currencies with FX fees from 0.1% and no hidden spreads, spend with a physical and virtual Mastercard® payment card, and reach a dedicated account manager instead of an app-only support queue.
Was this article helpful?
Yes
No
FAQs
Is Mox Bank safe and legitimate in Hong Kong?
Yes. Mox is a licensed virtual bank regulated by the Hong Kong Monetary Authority under the Hong Kong Banking Ordinance, and it's backed by Standard Chartered. Eligible deposits are protected under the Hong Kong Deposit Protection Scheme up to HKD 800,000 per depositor.
Can I use Mox Bank for my business in Hong Kong?
No. Mox offers personal accounts only; there is no business onboarding, company account, or business payment tooling available at all. If you need a business account in Hong Kong, Statrys is built specifically for SMEs and startups, with multi-currency support, FX fees from 0.1%, and a dedicated account manager.
What are the fees for a Mox Bank account?
There's no account opening fee and local HKD transfers via FPS are free. International transfers carry a minimum fee of 1 unit of the foreign currency, plus up to 2% for currency exchange. Receiving an international telegraphic transfer costs HKD 50. Overseas card spending adds a 1.95% foreign exchange handling fee, and carrying a Mox Credit balance accrues interest at 35.99% annually.
How much does it cost to carry a balance on the Mox Credit Card?
If a statement balance isn't paid in full by the due date, interest accrues at 35.99% a year on retail purchases (0.0907% daily) and 35.91% on cash advances, which start accruing from the transaction date rather than the statement date. There's no annual fee on the card itself, but an unpaid balance is genuinely expensive to carry.
What are the requirements to open a Mox Bank account?
You must be at least 18 years old, hold a Hong Kong Identity Card, and have a valid Hong Kong residential address. Both permanent and non-permanent HK residents are eligible; Mox is not available to non-residents or anyone without an HKID.
What is the best Mox Bank alternative for businesses in Hong Kong?
Statrys is the direct answer, since Mox doesn't offer a business product to compare against. Statrys provides a 100% online multi-currency business account supporting 11 major currencies, FX fees from 0.1% based on real-time mid-market rates, and a dedicated account manager for every client; 87% of clients get their account opened in less than 2 days.
Disclaimer
Statrys operates in the Hong Kong financial services market. This review reflects our own research into Mox's publicly available fees, eligibility, and support terms, and we've aimed to keep it accurate and balanced given that overlap.
Share this content
![Cover image for Banks in Hong Kong - A Complete List [2026]](/_next/image?url=%2F_next%2Fstatic%2Fmedia%2FRecently-published-01.912b4d6e.png&w=256&q=75)
![Cover image for 9 Key Things to Know Before Opening a ZA Bank Business Account [2026]](/_next/image?url=%2F_next%2Fstatic%2Fmedia%2FRecently-published-02.a17f9254.png&w=256&q=75)
![Cover image for Virtual Banks in Hong Kong: All 8 Compared [2026]](/_next/image?url=%2F_next%2Fstatic%2Fmedia%2FRecently-published-04.282db31c.png&w=256&q=75)