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Virtual Banks comparison 2021

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  1. #1

    Join Date
    Jan 2014
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    1,055

    Virtual Banks comparison 2021

    https://www.moneyhero.com.hk/blog/zh...88%86%E6%9E%90

    Virtual bank Discount
    Zhong An Bank
    (ZA Bank)
    Demand deposit
    • "ZA Current Go" customers can enjoy a 1% annual interest rate for Hong Kong dollar demand deposits (applicable to HK$500,000 or below). At the same time, the 3-month Hong Kong dollar regular annual interest rate is 1.080%.

    ZA Card
    • Up to 6% cash rebate for online spending with ZA Card, 11% cash rebate for spending at Deliveroo

    Personal loan
    • Loan amount above HK$200,000, repayment period of 6 to 24 months, can enjoy the actual annual interest rate guarantee 1.88%, the promotion period is until March 31, 2021
    • There is a 30-minute commitment for approval to ensure that users will receive the approval result within 30 minutes after submitting complete application materials and documents. Otherwise, ZA Bank will earn the user HK$10 in cash every 1 minute, and it will accumulate until the user gets it. Until the final approval result, the rebate limit is HK$500. ▶ More
    DBS Bank Demand deposit
    • Starting from January 1, 2021, customers who successfully open an account can enjoy a current deposit interest rate of 3.6% per annum. The offer is only applicable to the first HK$20,000

    Time deposit
    • The bank has accounts in Hong Kong dollars, US dollars and Renminbi. Customers can customize the number of deposit days and withdraw deposits at any time. The minimum deposit is HK$1,000, and there is no extra charge for early withdrawal. The current Hong Kong dollar 3-month fixed deposit annual interest rate is 1.05%, and the 12-month fixed deposit annual interest rate is 0.80%. The annual interest rate of RMB 6-month fixed deposit is 2.20%, and the annual interest rate of USD 12-month fixed deposit is 0.70%. The final interest rate will be determined by the bank’s mobile app.

    Personal loan
    • Customers can enjoy the effective annual interest rate as low as 1.85%, calculated on a daily interest rate, no handling fee, and a loan amount of not more than HK$200,000, and can enjoy a 60-day interest-free and loan-free offer. Tianxing said that no handling fee will be maintained for at least 3 years. Customers can repay in advance at any time during the loan period, without paying any handling fees. ▶ Apply now

    Balance transfer
    • From now until February 15, 2021, if you successfully apply for and withdraw the "Lump-sum Loan" or enjoy a 60-day interest-free and payment-free offer, in other words, no contributions are required for the first 60 days after the loan is drawn. If the customer pays off the loan in full before the first payment date, no interest is paid but only the principal of the loan is repaid. ▶ Apply now
    Welab Bank apply immediately Time deposit
    • New customers who open a 3-month HKD time deposit enjoy up to 1.1% annual interest rate, the maximum amount is HK$100,000, and the deposit period is 3 months

    Debit card (debit card)
    • From now until January 31, 2021, you can earn 5% cash rebate for spending with WeLab Debit Card on Fridays to Sundays and statutory holidays, and earn 1% cash rebate for all eligible transactions on other days. The monthly basic rebate is capped at HK$500
    Livi Bank
    apply immediately
    Open an account
    • From now until January 31, 2021, download the livi app and open a livi account to earn 20,000 yuu points. After successfully opening an account, bind the yuu account to activate yuu points.

    QR code consumption
    • Shake your phone after making a purchase with the UnionPay QR code on the livi app to receive at least a 3% reward, which can be used in your next purchase.
    MOX Bank
    apply immediately
    Debit card (debit card)
    • With Mox Card at any merchant, you can enjoy 1% unlimited CashBack. From now until March 31, 2021, you can earn 5% Super CashBack when you spend at designated Mox founding merchants . The rebate is up to HK$1,000. Deposit to your account every day and earn interest instantly.

  2. #2

    Join Date
    Nov 2009
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    Quote Originally Posted by nivek2046:
    [*]Shake your phone after making a purchase with the UnionPay QR code on the livi app to receive at least a 3% reward, which can be used in your next purchase.
    WTF is with Livi bank that you need some silly dance to get the cashback?? I guess the marketing guys think of everything...

    Thanks for the comparison table, good to have them all at one glance!

  3. #3

    Join Date
    Nov 2005
    Location
    Cramped island
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    Not sure why 'dbs bank' popped up in the table but shouldn't it be airstar ?
    Anyway i think the more attractive parts are like higher interest rates. Mox offers 1% for the first 500 or 600k as well but moneyhero conveniently left it out, i guess no special commercial deal with others.


  4. #4

    Join Date
    Jun 2011
    Posts
    1,117

    The deliveroo discount seems attractive, but its expiring today, so interesting to see if they roll it over or not.

    So far I have Mox and very happy to move excess funds there for a better interest rate.

    tf19 likes this.

  5. #5

    Za bank I've applied for and accepted in 2 days but the card takes 2 weeks to arrive. I mainly got it as I'm addicted to the McD's bfasts recently (get 15 off when spend 30) but you need to use the physical card, by that time the offer will have expired. That or use Apple Pay which I don't have

    muzzdang likes this.

  6. #6

    Join Date
    Aug 2012
    Posts
    63



    Hi all, am trying to open a ZA bank account (for the cash handout for HKers). Is this the app? (Am wondering cos it says ZA One)

    Thanks!

  7. #7

    Join Date
    Feb 2016
    Location
    Faroe Islands
    Posts
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    Go to ZA Bank website and the link to download its app is at the bottom.


  8. #8

    Join Date
    Apr 2017
    Posts
    60

    That app is for IPO application broking offering by ZA Bank and not of the bank. Check other apps by the developer or use website as mentioned by Cheeky Kiwi above

    Quote Originally Posted by nopain:



    Hi all, am trying to open a ZA bank account (for the cash handout for HKers). Is this the app? (Am wondering cos it says ZA One)

    Thanks!

  9. #9

    Join Date
    Aug 2012
    Posts
    63
    Quote Originally Posted by Cheeky Kiwi:
    Go to ZA Bank website and the link to download its app is at the bottom.

    Thank you, but trying to do it from Australia and cannot find ZA bank in my App store.

    Any other way please?

  10. #10
    Quote Originally Posted by nopain:
    Thank you, but trying to do it from Australia and cannot find ZA bank in my App store.

    Any other way please?
    https://apps.apple.com/hk/app/za-bank/id1477150600?l=en

    If this helps you, consider using my referral code while signing up ! It is UTHX89

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