OPENING A BANK ACCOUNT

For international students studying in Hong Kong, setting up a local bank account can greatly simplify financial transactions and daily money management. In Hong Kong, there is a variety of banks to choose from, but for most students, the most convenient or common options are Hang Seng Bank and HSBC.

Once you have all the necessary documents prepared, visit your selected bank to open an account. It's advisable to check their website beforehand, as some banks may require appointments while others may accommodate walk-ins.

Once you have a bank account along with an online/application version, you can use FPS (Faster Payment System) to transfer money from one account to another. Let’s say your friend paid for your lunch, and you want to pay them back. This process will be more efficient with FPS.  All banks and e-wallet operators in Hong Kong can participate in the FPS. The FPS enables their customers to make cross-bank/e-wallet payments easily, by entering the mobile phone number or the email address of the recipient, with funds available to the recipient almost immediately. The FPS operates 24 Hours and supports payments in the HKD  and RMB.

For more information, click this link.

While specific procedures may vary among banks, generally, you will be required to provide the following documents:

• Proof of identification: HKID or passport with a student visa and entry record to Hong Kong.

• Proof of residential address: Your Hong Kong address should be obtainable from your campus’ Student Residence Office or any bills displaying your Hong Kong address.

• Proof of permanent address: Your address is your home country. Prepare a translated proof of residence (ID Card) from a sworn translator. 

• Proof of student status: Essential for opening a student account, which can be demonstrated with your Student ID or admission letter.