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Virtual Banks in Hong Kong: questions and comparisons

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  1. #21

    Join Date
    Oct 2006
    Location
    Hong Kong
    Posts
    15,557

    Another data point at the moment on Mox is linked up to Google and Apple Pay.


  2. #22

    Join Date
    Jan 2014
    Posts
    1,274

    how do I deposit a cheque into these accounts?


  3. #23

    Join Date
    May 2005
    Location
    Hong Kong, from UK
    Posts
    3,838
    Quote Originally Posted by nivek2046:
    how do I deposit a cheque into these accounts?
    Er, it's late 2020. When did you last deposit a cheque?

    (Yeah, I know, Hong Kong...)
    shri likes this.

  4. #24

    Join Date
    Mar 2007
    Posts
    636
    Quote Originally Posted by nivek2046:
    how do I deposit a cheque into these accounts?
    I don't think you would use the virtual banks as your main bank account.

    As shared by the fellow posters, use it for the high interest rates, cash back rebates, special deals, etc. Since moving funds via FPS is free and instant, just move your excess cash and earn 1% PA (savings account not fixed deposit) which is 1000x what you get from other banks.
    nivek2046 likes this.

  5. #25

    Join Date
    Aug 2010
    Location
    Ashtead, UK
    Posts
    15

    Does anyone know if you can open an account with any of the virtual banks without being physically present in Hong Kong or having an address there?

    I hold a Permanent Hong Kong ID card but am resident in the UK right now. If they need proof of address, will they accept proof of a residential address overseas?


  6. #26
    Quote Originally Posted by Chris_in_Makati:
    Does anyone know if you can open an account with any of the virtual banks without being physically present in Hong Kong or having an address there?

    I hold a Permanent Hong Kong ID card but am resident in the UK right now. If they need proof of address, will they accept proof of a residential address overseas?
    Technically you're supposed to be a resident of Hong Kong, and I think they make you declare it, but there is no need for proof of address as long as you enter a Hong Kong address (for them to send the card to).

  7. #27

    Join Date
    Aug 2010
    Location
    Ashtead, UK
    Posts
    15
    Quote Originally Posted by eightfivetwo:
    Technically you're supposed to be a resident of Hong Kong, and I think they make you declare it, but there is no need for proof of address as long as you enter a Hong Kong address (for them to send the card to).

    Thanks.

    Looks like it wouldn't work for me as I don't have access to a Hong Kong postal address. I guess they'd probably want a Hong Kong mobile phone number too.

  8. #28

    Join Date
    Dec 2009
    Posts
    6,714
    Quote Originally Posted by Chris_in_Makati:
    I guess they'd probably want a Hong Kong mobile phone number too.
    They do.

  9. #29

    stupid questions. why don't you ask your banks to get formal answers?

    for MOX, you will see the bank account number via the mobile app. people can transfer money to your MOX account using your account number; or mobile number/email address via FPS. this is virtual bank's principle. if a virtual bank offers you an ATM card, suppose you can do withdrawal / deposit of cash via ATM kiosks. MOX card deliberately don't print account number on card is to increase security.