Virtual Banks comparison 2021

nivek2046 · 31-01-2021, 10:38 AM

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.

timonoj · 31-01-2021, 11:44 AM

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!

freeier · 31-01-2021, 12:59 PM

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.

RobRoy · 31-01-2021, 01:56 PM

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.

SonicYouth1 · 31-01-2021, 03:14 PM

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

nopain · 26-07-2021, 02:03 PM

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!

Cheeky Kiwi · 26-07-2021, 02:16 PM

Go to ZA Bank website and the link to download its app is at the bottom.

LeftTC · 26-07-2021, 02:30 PM

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

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!