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Mox Bank Review [2024]: Features, Fees & Alternatives

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Features - 4/5

Fees - 3.5/5

Customer Support - 4.5/5

Ease of opening an account 4.5/5

Our Rating Methodology

Click "More info" to understand how we calculate our Mox Bank's Account ratings.

Launched in 2020, Mox or Mox Bank Limited is a Hong Kong virtual bank backed by Standard Chartered, a leading international banking institution. It operates in partnership with HKT (Hong Kong’s leading telecom), PCCW (Multimedia, entertainment, property development, and investment group), and Trip.com (A large online travel agency in Asia).

Mox Bank has a virtual banking license under the Hong Kong Monetary Authority (HKMA) regulation. They are also a member of the Deposit Protection Scheme, protecting eligible deposits up to HKD 500,000.

Mox Bank is one of the most popular personal banking apps in Hong Kong, trailing only behind ZA Bank.   

Their virtual account lets you receive money and pay anyone in Hong Kong, earn interest and cashback, apply for credit, split eligible transactions into monthly instalments, and have a unified physical and digital card that acts as both a debit and credit card.

However, they currently cater only to personal accounts. 

Mox Bank has served Over 500,000 customers. They were awarded One of The World’s Best Banks 2023 by Forbes and Best Digital-only Bank in Hong Kong 2023 by The Asian Banker.

💡 Tip: Discover the best payment cards in Hong Kong from our lists of best credit and debit cards in Hong Kong.

Mox Bank Pros and Cons

Why Mox Bank may be a good option

Why Mox Bank may be a good option

  • 100% online account opening
  • Relatively high interest on deposits
  • Virtual and physical debit and credit Mastercard®
  • Earn cashback of up to 3% 

Why Mox Bank may not be a good option

Why Mox Bank may not be a good option

  • Only available in Hong Kong and lacks cross-border payment options.
  • It is only available on the mobile app.
  • Not catering to businesses

Mox Bank Features

They offer a standard virtual account that lets you spend, save, borrow, and transfer money. However, Mox focuses on retail banking services for daily essentials and doesn't currently cater to business needs. 

Here is a breakdown of the main features.

Smart Banking and Smart Saving

  • With a Mox account, easily send and receive money within Hong Kong at any time.
  • Receive a daily interest rate of 0.3% p.a. for HKD saving deposits up to HKD 500,000.
  • Receive a daily interest rate of 0.01% p.a. for foreign currency deposits (AUD, CAD, CNY, EUR, GBP, JPY, NZD, SGD, USD).
  • Interest is calculated on a 365-day basis, with daily interest paid. 
  • Real-time monitoring of account activity and balance.
  • Buy, sell, and manage foreign currencies 24/7 using the Mox FX rate (mid-market rate).
  • Instantly deposit exchanged funds into your Mox Account.
  • Customise currency display preferences on the "Accounts" page.
  • Organise savings into up to 5 different saving goals with customisable names.
  • Explore flexible Time Deposits from as low as HKD 1 for up to 24 months.

The interest rates and time deposit tenors, as displayed on their website, are outlined below:

Time Deposit Tenor Interest Rates 
6-month 4.6%
12-month 4.25%
24-month 3.8%

As Time Deposit interest rates are subject to change, please check the Mox Bank website for the latest information.

There are no early withdrawal fees. However, you will not be entitled to any interest accrued if you request an early withdrawal.

Mox Card

When you open a Mox bank account, you automatically get a virtual Mox card for free. You also have the option to obtain the physical card, which will be delivered within 5-7 working days. 

Mox card is unique in a couple of ways, namely,  

  • The first numberless bank card in Asia providing increased security by excluding visible card numbers, expiry date, and CVV. Still, you can easily access your card number via the mobile app. You can also change your PIN and daily limit in the app.
  • Functions as both a debit and credit card. It also lets you seamlessly switch between the two. Simply open the Mox app, tap “View Details,” and then the “Flip” button. To switch back, repeat the process.
  • Support Apple Pay and Google Pay so that you can make convenient online purchases.
  • Withdraw cash from more than 2,000 JETCO ATMs in Hong Kong for free and enjoy the convenience of using over 2.6 million ATMs worldwide that accept Mastercard®.

Smart Spending and Mox Credit

Mox introduces features to simplify your spending through its credit system, 'Mox Credit.' Here's what it offers:

  • Start spending right after approval
  • 2% CashBack on eligible transactions with Mox Credit if your savings account balance is HKD 75,000 or above (excluding balances held in Time Deposit Accounts)
  • 3% CashBack on eligible Mox Credit transactions at Hong Kong supermarkets and grocery stores.
  • Easy Bill Switching: switch your HKT bills to Mox Credit in the app for more CashBack benefits
  • CashBack is real cash, not points or coupons.
  • CashBack is calculated instantly and credited daily.

Smart Borrowing

Mox Bank also lets you apply for loans directly from the app through their Smart Borrowing feature, which includes:

  1. Instant Loan: Receive extra cash for instant use as fast as one second to your Mox Account upon approval. Enjoy a repayment period of up to 60 months, with instant calculation of the monthly payment and APR upon selection. 
  2. Instant Clear: Clear external credit card with a repayment period of 3 to 6 months. For amounts below HKD 75,000, enjoy 0% interest with a designated one-off fee, subject to Mox Instant Clear terms and conditions
  3. Split Purchase: You can split a single or multiple Mox Credit transactions of HKD 400+ into an instalment plan of 3-60 months. The APR starts from 5.10%.
  4. Split Your Statement: This feature lets you divide your statement balance of HKD 2,000+ into smaller instalments after you get the credit statement and any time until 3 days before you fully settle the balance.
  5. 0% Merchant Split Purchase: Mox’s name for the Buy Now, Pay Later feature, available with numerous popular merchants. You can divide your purchases with 0% interest into 3 to 60 instalments. 

Mox Invest

  • Buy or sell stocks in the Hong Kong and US markets with limit or market orders.
  • Supporting both US fractional and whole-share stock trading.
  • Choose between share-based or dollar-based investing.

Mox Invest is being introduced to customers in phases. If eligible, you will receive an email with Mox Invest service details. Further information is available by logging into your Mox app.

Money Transfers

All local transfers you make with Mox are sent in real-time. You can send and receive HKD for free to and from your Mox account.  Furthermore, you can make FPS payments with Mox and send money to friends and family.

You can also receive inward USD funds from Hong Kong bank accounts. However, sending USD or any other foreign currency payments is not supported. 

Mox does not facilitate outward transfers of any foreign currencies or cross-border payments, whether in HKD or other currencies.

Foreign Exchange Service

You can access foreign exchange services through the Mox app and exchange your money instantly, 24/7. 

Currently, Mox supports conversions between 10 currencies: HKD, AUD, CAD, CNY, EUR, GBP, JPY, NZD, SGD, and USD.

Mox uses a mid-market rate. Plus, they apply a fixed percentage charge based on the amount. The fee amount will be displayed on the Mox app before you proceed with the foreign exchange transaction. 

Users are allowed up to 50 foreign exchange transactions daily.

Mox Bank’s Features Rating: 4/5

Mox Bank is great for personal banking, offering good interest rates, a secure card for debit and credit, CashBack perks, and various loan and investment options. However, they do not cater to business needs, and limitations in international money transfers and foreign exchange services restrict the overall utility.

Fees Charged by Mox Bank

Account Fees Fee 
Account opening fee Free
Account monthly fee Free
Minimum deposit HKD 0
Balance withdrawal fee (on behalf of a customer) HKD 50
Paper statement request HKD 50 per copy
Mailing of physical statement  HKD 100 per statement
Card Fees Fee 
Cash withdrawal on JETCO ATMs in Hong Kong Free
Cash withdrawal on Mastercard® ATMs in Hong Kong HKD 20 per transaction
Overseas ATM cash withdrawal on JETCO ATMs HKD 30 per transaction*
Overseas ATM cash withdrawal on Mastercard® ATMs HKD 30 per transaction*
Foreign exchange handling fee 1.95% (1% imposed by Mastercard® plus a 0.95% fee imposed by Mox)
Cross-border access fee 1.95% (1% imposed by Mastercard® plus a 0.95% fee imposed by Mox)
Mox Card replacement fee HKD 50
Metal Mox Card replacement fee HKD 350
Dispute charge HKD 150 per transaction

*The foreign currency will be converted into Hong Kong dollars by the exchange rate imposed by JETCO or Mastercard® on the transaction date. Overseas cash withdrawals may have additional fees from local banks that provide ATM services.  

Mox Credit Fees Fee 
APR for Retail Purchases 35.99% (0.0907% per day)
APR for Cash Advance 35.91% (0.0871% per day)
Cash Advance Fee HKD 100 per cash advance
Split Purchase/Instant Loan/Instant Clear • One-off fee, displayed during application.
• Monthly fee displayed during application.
• Early repayment fee: 2% of all remaining principal of the Split Purchase
0% Merchant Split Purchase 2% early repayment fee
Excess Fund Transfer Handling Fee A 2% handling fee if exceeding HKD 30,000 monthly
Foreign Exchange Fees Fee 
Currency Exchange Fee The greater amount between the following two options will apply:

• A variable percentage, up to 1%, of the actual selling amount. The specific percentage will differ based on the currency pair involved.

• The minimum unit of the selling currency, or USD 0.01, or the equivalent of USD 0.01 in the selling currency—whichever of these three is the highest.

The upper limit for currency receipt in a single transaction is USD 10,000 or its equivalent. When selling currency in a single transaction, the amount must surpass the minimum fee for currency exchanges. 

Mox Bank Fees Rating:  3.5/5

Although it provides free account services, no minimum deposit, and local JETCO ATM withdrawals at no cost, it incurs substantial fees for overseas ATM transactions, foreign exchange operations, and high APRs for credit services. This fee structure suits users focused on local transactions but may be costly for international activities. 

Requirements for Opening an Account

To be eligible to apply for a Mox account, you must:

  • Be at least 18 years old.
  • Possess a Hong Kong Identity Card, whether permanent or non-permanent.
  • Hold a valid Hong Kong proof of address and a mailing address.

You will also have to provide supporting documents or additional information about yourself. These include:

  • Personal and contact information (ID, place of birth, mobile number, email, Hong Kong address, and more)
  • Tax country/city and tax ID
  • Employment and income
  • Purpose of the account
  • Preferences for receiving marketing information

During the application process, Mox will request a photo of your HKID (front and back) and a selfie. Make sure to have your HKID card ready, and the Mox app will guide you through the process.

🔎 Tip: Check our step-by-step guide on how to open a Mox Bank Account.

Mox Bank’s Ease of Opening Ratings: 4.5/5

The eligibility criteria are simple and clear, and the documents required are standard. The convenience is notable as the entire procedure can be completed online. However, it's only accessible on mobile, not desktop.

Mox Bank Customer Support

To contact Mox Bank, you can reach out to them through these channels:

  • Voice call or live chat function in the Mox app
  • Hotline: +852 2888 8228
  • Submit the form on the Mox contact page
  • Email: care@mox.com
  • Write to them at 39/F, Oxford House, Taikoo Place, 979 King’s Road, Quarry Bay, Hong Kong.

Mox Bank’s Customer Support Ratings 4.5/5

Mox Bank provides a range of support channels, including voice calls, live chat, hotline, online form, email, and a physical address. However, specific details about response times are not provided.

Mox Bank Alternatives

  Mox Bank logo Statrys logo ZA Bank logo
Multi-currency Business Account in Hong Kong no yes yes
Personal Account yes no yes
Supported Currencies in Multi-currency account HKD 11 currencies (HKD, AUD, CAD, CHF, RMB, EUR, GBP, JPY, NZD, SGD, USD) 3 currencies (HKD, CNY, and USD)
SWIFT Payments yes yes yes
Customer Support Channel Voice call, in-app chat, Hotline, Online form, Email and postal mail  Website, Email, Phone, Live chat, WhatsApp and WeChat Email, Phone, Online Live Chat, Query forms, ZA Bank office
ATM withdrawal yes yes no
Account Opening Time Minutes 3 business days Several weeks
Trustpilot Reviews No Trustpilot page 4.6/5 based on 238 reviews No Trustpilot page
Account Monthly Fee Free Free (if 5 or more outgoing transfers made in the month)

No average account balance required
Additional physical debit cards fee No annual fee, and no other fees mentioned HKD 48 per card/month no
Applicable virtual cards yes yes no
FX Fees and rates Mid-market rates FX rates based on live mid-market rates and FX fees of as low as 0.15% (depending on exchange volume) No information provided
Dedicated account managers for the Statrys business account.


Is Mox Bank legit?

Yes, Mox is a virtual bank backed by Standard Chartered Bank (Hong Kong) Limited. It combines the trust of an international banking group (Standard Chartered), Hong Kong’s telecom company (HKT), media company (PCCW), and Asia’s biggest online travel agency (Trip.com). It is also one of the most well-known financial institutions in Hong Kong's financial sector.

Is Mox safe?


What are the fees for a Mox Account?


What are the requirements for opening a Mox Bank account?



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Statrys does not compete directly with Mox Bank in the payment industry. However, we're committed to providing an unbiased, thorough review to help you make an informed choice.

Fact checked by
Djon Ly

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