Banking in Hong Kong

Information on opening a bank account in Hong Kong - what documents to provide - the credit and debit cards, payment methods, cheques and more...

Renowned as an international financial centre, Hong Kong has hundreds of licenced banks, representing the interests of 32 foreign countries. The banking and financial services industry is regulated by the Hong Kong Monetary Authority (HKMA). One of the HKMA's responsibilities is to ensure the stability of the Hong Kong currency, currently pegged to the US dollar.

Types of Banks in Hong Kong

There are three types of bank in Hong Kong: Licenced Banks, Restricted Licence Banks (RLB) and Deposit Taking Companies (DTC). However, only licenced banks can operate current and savings accounts.

Retail banks provide a selection of different account services and tiers. Savings accounts can be in US dollars, the renminbi or in Hong Kong dollars. Most banks allow customers to link savings, cheque (current account), credit card and debit card services to a master account. In most circumstances, customers can avoid bank service charges in exchange for a minimum deposit into these accounts.

Hong Kong retail banks

Some of the more popular retail banks in Hong Kong include:

For a comprehensive list of banks in operation in Hong Kong, visit the Angloinfo Directory.

Opening Hours

Retail banks in Hong Kong are open for business Monday to Friday from 09:00-16:30 and Saturday from 09:00-12:30. They are closed on Sundays and public holidays. Some banks and branches open earlier and close later, while some services at banks may not be available an hour before closing.