Virtual Banks in Hong Kong and their account opening benefits

╔═══════════════════╦══════════════════════════════╦═══════════════╗
║ Virtual Banks ║ Main Investors ║ Website ║
╠═══════════════════╬══════════════════════════════╬═══════════════╣
║ LIVI VB LIMITED ║ BOC(HK),JD Digits,Jardines ║ Link
║ MOX BANK LIMITED ║ SCHK,PCCW Limited,HKT,Ctrip ║ Link
║ ZA Bank ║ ZA International ║ Link ║
║ WeLab Bank ║ WeLab ║ Link
║ Ant Bank ║ Ant Financial ║ Link
║ Airstar Bank ║ Xiaomi and AMTD Group ║ Link
║ Fusion Bank ║Tencent,ICBC,Hillhouse Capital║ Link
║ PAO Bank ║ PingAn ║ Link
╚═══════════════════╩══════════════════════════════╩═══════════════╝

What is Virtual Bank?

Is Virtual Bank safe?

Promotional Offer Comparison

  • 1% p.a. daily interest rate
  • 5% super CashBack when spending at their Founding Merchants up to HKD1,000 till 31 December 2020.
  • 1% unlimited CashBack everywhere else
  • Comes with a physical MasterCard credit card
  • Advantage(s): daily interest rate, nice user interface
  • up to 8% cash rebate wherever spending with their debit card (cash rebate upper limit HK$1,210)
  • up to 1.2% p.a. time deposit rates (3-month deposit, max HK$50,000): if more people joined the time deposit, the deposit rate will be higher.
  • Comes with a physical Debit card
  • Advantage(s): nice user interface, attractive cash rebate rate
  • Disadvantage(s): the saving interest rate is low.
  • 0.5% p.a. interest rate (first HK$500,000); once made a purchase via QR Payment (T&C apply), the interest rate will increase to 3% p.a.
  • until 31 December 2020, account opening can earn up to 20,000 yuu points; once referred a friend, you can get 18,000 yuu points for each friend you referred.
  • Every time you made a QR Payment, you can shake the phone and enjoy a cash reward for next purchase.
  • My referral code: y8fuhre9
  • Disadvantage(s): No biometric login, Difficult to scan the HKID card when registering an account
  • 5% p.a. interest rate (first HK$50,000) for 6 months
  • HKD/USD/CNY accounts available
  • Personal loan: APR as low as 1.85% (no transaction fee)
  • Advantage(s): Has multiple currencies
  • Disadvantage(s): No biometric login, poor user interface
  • 1% p.a. Interest rate (first HK$500,000)
  • Up to 1.08% p.a. HKD Time deposit interest rate
  • Comes with a physical Visa credit card
  • Has various ways to earn ZA Coin, which can convert to HKD
  • Personal Loan rate is attractive (0.07% flat rate of a loan HK$200,000 or above and tenor of 6 - 24 months). APR as low as 1.45%
  • Advantage(s): can customize the Visa card last 6 digits, has multiple currencies
  • Disadvantage(s): confusing user interface
  • My referral code: FW95A2

Money In & Out

Mini Interest-Earning Guide

Disclaimer

--

--

--

I write stuffs: novels, programs, mobile apps, journal papers, book chapters, etc.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Hidden Dangers Of Foreign Dividend Investing

The Meltdown That Led to Growth

Who’s Got Your Money?

How do you get sold to without spending a dollar?

Installment loans?

Why It’s a Good Time to Buy Your First Home

Could i still have the hope to have my credit card application approved?

Forget financial literacy — it’s not doing you any favors

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Raptor Kwok

Raptor Kwok

I write stuffs: novels, programs, mobile apps, journal papers, book chapters, etc.

More from Medium

5 Laws of Gold — The Richest Man in Babylon

Investor Interviews: DaVan Johnson

Mental health oversight in models of intimate partner violence (IPV) Priya Prakash

Kruskal’s Algorithm(Minimum Spanning Trees)