ZA Bank Business Account Review [2025]: Features, Fees & Alternative

ZA Bank is a Hong Kong–licensed digital bank regulated by the Hong Kong Monetary Authority. Launched in 2019, the bank is recognised as the city’s first and largest digital bank. ZA Bank offers deposits, loans, insurance, and investments entirely through a mobile app, with no physical branches.

Although they serve both personal and business clients, this review focuses on their business services. If you’re a Hong Kong-registered business looking for a mobile-first banking solution, this guide breaks down everything you need to know before choosing ZA Bank: fees, features, onboarding requirements, real user feedback, and the top alternatives available in 2025.

Only Hong Kong Tax Residents Are Eligible

ZA Bank’s business account is exclusively available to Hong Kong-registered businesses. Plus, all owners, directors, partners, and shareholders must be Hong Kong tax residents and hold a valid HKID to be eligible to apply.

Local & International Transfers 

Supports local HKD, CNY, and USD transfers via FPS and CHATS—the three currencies most commonly used by Hong Kong SMEs. International payments can be made through SWIFT in these currencies, plus other major options such as EUR and GBP.

Built-In SME Loan Options

Eligible businesses (1+ year old) can access unsecured loans up to HKD 4 million with flexibility.

No Cards, No Integrations, No APIs

ZA Bank offers no business credit/debit cards, no software integrations, and no API access, so you cannot automate bookkeeping or connect to other business tools. 

In-Person Verification May Be Required
Companies with more complex structures may need an in-person review when opening an account. ZA Bank can also request in-person verification at its discretion.

• Local Hong Kong SMEs with occasional international payments: Businesses that mainly operate in HKD, CNY, and USD and only send or receive overseas transfers from time to time can rely on low-cost FPS and CHATS for local payments and use SWIFT when global transfers are needed.
• Simple structures and tech-savvy teams: Sole proprietors, single director companies, and small teams that prefer a mobile-first banking setup can benefit from fast onboarding and smooth app-based account management.
• Companies seeking quick, lightweight financing: SMEs that need early-stage working capital can take advantage of ZA Bank’s streamlined loan options.

• Businesses dealing with multiple overseas markets: While you can send or receive international payments with ZA Bank, you cannot hold balances in EUR, GBP,or other currencies. This forces automatic conversions on every non-HKD/CNY/USD transfer, which will increase FX costs.
• Ecommerce, trading, or global service firms with heavy transaction volume: Companies receiving frequent customer payments from multiple platforms may benefit more from a platform that can connect to marketplaces and payment gateways directly.
• Businesses with foreign shareholders: Companies with overseas shareholders without HKID may not be eligible or face challenges for opening an account.

For detailed pricing information, please refer to ZA Bank’s business banking fee document.

ZA Bank supports HKD, CNY, and USD within one account, local and international payments, and flexible financing options. This section focuses on its core offerings.

ZA Bank’s business account supports HKD, CNY, and USD, with the option to place time deposits in all three currencies.

Local payments are processed via FPS and CHATS:

• FPS: supports transfers in HKD and CNY
• CHATS: supports transfers in HKD, CNY, and USD

International transfers are handled via the SWIFT network, supporting AUD, CAD, CHF, EUR, GBP, JPY, NZD, and SGD. 

The foreign exchange service in the app allows you to exchange HKD, USD, CNY, AUD, CAD, CHF, EUR, GBP, JPY, NZD, and SGD, providing real-time quotations, instant currency exchange, and 24/7 access.

Lastly, batch payments in HKD, CNY, and USD are supported, along with payroll via FPS or intrabank.

ZA Bank offers a small Business Loan to businesses that have reached their first anniversary. The maximum loan amount is HKD 4,000,000. 

ZA Bank doesn’t offer payment cards or accounting software integration for its business accounts.

The account opening process can be done online, and you can get approved within 1 business day if all the business owners, directors, shareholders, and partners are Hong Kong tax residents with valid HKID, and the business has no more than 3 partners or 4 shareholders that are natural persons (not corporate shareholders). 

If your company does not meet the online requirements or has a complex structure, ZA Bank Relationship Manager may reach out after the initial review to arrange an in-person appointment to complete the process. In addition to these criteria, your application may also be shifted to an offline review for other reasons at ZA Bank’s discretion.

Only businesses incorporated in Hong Kong can open a business account with ZA Bank. You are eligible to open ZA Bank business accounts if you meet the following criteria.

• Be a sole proprietorship, partnership, or limited company
• Be established or incorporated in Hong Kong
• All owners, partners and shareholders must be aged 18 or over
• All owners, partners and shareholders must be natural persons, not a company or a corporation.
• Tax resident of Hong Kong only.

• Copy of an individual’s identity documents
• Copy of residential address proof
• Copy of a business registration certificate
• Proof of business, such as a sales contract, invoices, and bank statements
• Foreign Account Tax Compliance Act (FATCA) documents
• Common Reporting Standard (CRS) documents.
• Ownership Structure Chart, if applicable
• Copy of Certificate of Incorporation for limited companies 
• Copy of Articles of Association for limited companies 
• Copy of the  latest annual return, if applicable

This checklist of document requirements is extensive when compared to competitors in Hong Kong, such as Statrys, where we only require two main documents to open an account with us:

• Copies of the passport(s) of the directors and shareholders
• A copy of your business registration certificate

Here’s what actual users are saying about ZA Bank on mobile platforms. The following breakdown covers both Android and iOS experiences, highlighting how the app performs for everyday banking, onboarding, and support, so you can see what to expect before trying it yourself.

ZA Bank has earned a 5/5 rating from about 30,000 reviews on the Google Play Store. Users praise its user-friendly app and good transfer functionality, while a few reviews mention difficulties with onboarding, app login issues, and some confusion regarding rewards eligibility. Despite these minor concerns, the overall rating remains very high, reflecting strong user satisfaction.

The reviews indicate that most users can easily manage finance through the app. A few complaints about login, complicated rewards or onboarding suggest that first-time users may encounter minor hurdles initially.

ZA Bank holds a strong 4.8/5 rating from more than 57,000 reviews on the App Store. Users highlight the app’s clean and easy-to-use interface, responsive customer support, and smooth onboarding experience. A small number of reviews mention occasional bugs. Overall, the high rating reflects consistently positive user experiences.

The feedback suggests that most iPhone users can handle everyday banking tasks without trouble, and new users are likely to get started quickly with minimal friction.