Like Tree17Likes

Why is there no debit card in Hong Kong?

Reply
Page 3 of 4 FirstFirst 1 2 3 4 LastLast
  1. #21

    Join Date
    Aug 2014
    Location
    Hong Kong
    Posts
    88

    Can anyone advise if this situation has changed?

    The Citi Debit card can't be used for online purchases and I am aware of Tap and Go which acts as a prepaid debit card.

    Is there a bank in HK that today issues a debit card (Visa or MasterCard), linked to a checking account, that can be used for online purchases?


  2. #22

    Join Date
    May 2006
    Posts
    6,042

    PayPal can be topped up from your bank account.


  3. #23

    Join Date
    May 2012
    Posts
    467
    Quote Originally Posted by TaD_LaLa:
    Can anyone advise if this situation has changed?

    The Citi Debit card can't be used for online purchases and I am aware of Tap and Go which acts as a prepaid debit card.

    Is there a bank in HK that today issues a debit card (Visa or MasterCard), linked to a checking account, that can be used for online purchases?
    this came out recently... if you qualify for jade of course
    https://www.hsbc.com.hk/jade/twelve-...cy-debit-card/
    TaD_LaLa likes this.

  4. #24

    Join Date
    Aug 2014
    Location
    Hong Kong
    Posts
    88

    Thanks Alex,

    A bit ironic that you need to have a relationship balance of almost 8 Million HKD in order to use your own money with a debit card online instead of a credit card.

    What am I missing here?



    Quote Originally Posted by alexdown:
    this came out recently... if you qualify for jade of course
    https://www.hsbc.com.hk/jade/twelve-...cy-debit-card/

  5. #25

    Join Date
    Aug 2014
    Location
    Hong Kong
    Posts
    88
    Quote Originally Posted by civil_servant:
    PayPal can be topped up from your bank account.
    Yes you are correct.

    However loads of sites don't take Paypal so not quite the solution.

    Every other country I have lived in, debit cards are standard and credit cards have to be earned based on your banking history, etc.

    HK, even after 6 years still has me confused about this anomaly.

  6. #26

    Join Date
    Sep 2018
    Posts
    259

    Most virtual banks offer debit cards


  7. #27

    Join Date
    May 2012
    Posts
    467
    Quote Originally Posted by TaD_LaLa:
    Every other country I have lived in, debit cards are standard and credit cards have to be earned based on your banking history, etc.

    HK, even after 6 years still has me confused about this anomaly.
    Understand your reaction, but think of this: if you pay your balance in full every month, there is no difference.
    And you need cc anyways for a few things like buying things online, renting a car... so may as well get the one they give you.
    The only thing you need cash for in HK anyway is taxis
    shri likes this.

  8. #28

    Join Date
    Jun 2016
    Posts
    1,287

    Because Octopus has an institutionalized monopoly on direct payment.


  9. #29

    Join Date
    Nov 2005
    Location
    Cramped island
    Posts
    4,114
    Quote Originally Posted by RMDNC:
    Because Octopus has an institutionalized monopoly on direct payment.
    thats an interesting concept.. can you explain how you arrived at this institutionalized monopoly concept ? and why octopus and not visa or mc ?

  10. #30

    Join Date
    Nov 2019
    Posts
    386

    I always thought that EPS was Hong Kong’s version of debit cards.

    https://en.m.wikipedia.org/wiki/Elec...yment_Services

    Don’t think you can use it for online payments though.

    shri likes this.

Reply
Page 3 of 4 FirstFirst 1 2 3 4 LastLast