Hong Kong

Banking in Hong Kong

About Hong Kong

Hong Kong has a turbulent history between China and Britain. Although it has connections with mainland China, Hong Kong has a distinctly different culture and identity. Different values exist between the two areas, and if you work in business with these counties, you will notice this easily. Hong Kong also has a strong Indian population which contributes further to the dynamics of living in or doing business in Hong Kong.

Hong Kong has a very modern central business district, and a large population that lives in a very small area. You will find a strong retail, corporate and commercial centre here, however in the outer regions, as the country stretches up to China, the landscape is more remote and is mainly used for agricultural purposes with small villages.

If you are travelling to Hong Kong, you shouldn’t have any problems using English in the city area, however in the regional areas, don’t expect this same principal to apply. You should find most people are friendly and willing to help, and there are a range of international services in the city areas, including international currency exchange and interpreters.

Banking in Hong Kong

Hong Kong is a major location for international finance, banking and business. The system is very unique, and the convenient location of the region, makes it easily accessible from other areas of the world. Hong Kong has a well-established airport, and you can also access the country via train from China and boat from nearby countries.


There are many types of banks in Hong Kong, and if you are going to do your banking there it will pay to shop around, ask questions, and choose the most appropriate institution and product for your service. Many offer the ability to combine accounts, such as savings, credit card and loan accounts, and if you maintain a minimum balance in these as a whole, you can save money on extra fees and charges.

The three types of bank in Hong Kong are Licensed Banks, Restricted Licence Banks Deposit Taking Companies. There is also a complex banking system for retail outlets. For savings accounts, banking institutions in Hong Kong allow you to keep your finances in either US dollars, renminbi or in Hong Kong dollars.

Opening a Bank Account in Hong Kong

You don’t need to be a resident of Hong Kong to open a bank account there, and many financial institutions allow you to open one, simply by completing a form that is downloaded from their website. You will need to provide basic information, including identification and proof of address, however you will need to check with your specific institution for their exact requirements. The international accessibility of banking in Hong Kong also makes it a desirable destination for students and business people.


PPS is allows customers to pay their bills using their convenient 24 hour system. They can use either the telephone or Internet to do so. If you would like to open a PPS account, take your ATM or credit card to a PPS registration terminal which are located throughout Hong Kong.

Major banks in Hong Kong

Many international banks, finance institutions and organisations have a presence in the Hong Kong region. This list includes some of the major banks that have operations in the area.

  • ABN AMRO Bank
  • American Express Bank Ltd
  • Australia & New Zealand Banking
  • Bank of China
  • Citibank Hong Kong
  • Hongkong and Shanghai Banking Corporation – HSBC
  • Hang Seng Bank

(Image credit: wandering_angel/flickr)