List of Virtual Banks in Hong Kong Digital Banks HK Personal Business Account Comparison
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List of Virtual Banks in Hong Kong
Virtual banks (also known as digital banks) in Hong Kong are fully licensed financial institutions regulated by the Hong Kong Monetary Authority (HKMA). They operate entirely online without physical branches, offering services like account opening, transfers, payments, and loans via mobile apps or websites. As of September 2025, there are eight licensed virtual banks, all launched between 2020 and 2021. They are protected by the Deposit Protection Scheme up to HKD 500,000 per depositor, similar to traditional banks. These banks promote financial inclusion, especially for retail customers and SMEs, and focus on innovative, low-cost digital services.
ZA Bank
https://bank.za.group/en facebook
- Subsidiary of ZA Global (ZhongAn Online).
- Launched: March 2020 (first virtual bank in Hong Kong).
- Key features: High-yield savings, crypto ETF investing, and rewards like Asia Miles on spending. It reported monthly profits in 2024 due to deposit growth.
Rapid account opening and 24/7 customer service.
Mox Bank
https://mox.com facebook
https://mox.com/promotions/instant-loan/
- Backed by Standard Chartered Bank (Hong Kong), with partners like HKT and Trip.com.
- Launched: September 2020.
- Key features: Focus on everyday banking, travel rewards, and SME services.
WeLab Bank
https://www.welab.bank/en/ facebook
https://www.welab.bank/en/feature/onboarding/
- Homegrown under WeLab (a Hong Kong fintech company).
- Launched: April 2020.
- Key features: Personalized financial tools, loans, and a user-friendly app for retail and business users.
Livi Bank
https://www.livibank.com facebook
- Joint venture between Bank of East Asia, JD Digits, and Hong Kong Telecom.
- Launched: July 2020.
- Key features: Rewards for everyday spending, FPS transfers, and QR payments accepted across Hong Kong merchants.
Airstar Bank
https://www.airstarbank.com facebook
- Joint venture between Xiaomi Corporation and AMTD Group.
- Launched: July 2020.
- Key features: Tech-integrated services, including partnerships for smart devices and quick account setup.
Fusion Bank
https://www.fusionbank.com facebook
- Backed by Tencent Holdings, ICBC (Asia), Hong Kong Exchanges and Clearing, Hillhouse Capital, and Adrian Cheng.
- Launched: December 2020.
- Key features: First virtual bank to offer foreign exchange services; focuses on innovative fintech solutions.
PAObank (also known as PAO Bank)
https://www.paob.com.hk facebook
- Subsidiary of Lufax Holding Ltd (part of Ping An Insurance).
- Launched: September 2020.
- Key features: SME-focused loans (up to HKD 35 million via Business Secured Loan in 2024), and tailored business platforms.
Ant Bank (Hong Kong) Limited facebook
https://www.antbank.hk
- Operated by Ant Group (Alibaba affiliate).
- Launched: January 2021.
- Key features: Integrated with AlipayHK ecosystem, offering seamless payments, wealth management, and micro-loans.
These banks are all operational and compete on factors like interest rates, app usability, and specialized services (e.g., crypto or SME lending). To open an account, you'll typically need a Hong Kong ID, local address, and phone number—processes are quick and app-based. For the latest details or comparisons, check the HKMA website or individual bank apps. If you're an expat, note that some (like ZA Bank) require local residency for full access.
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