Opening a Bank Account in Hong Kong for Foreigners: Options, Requirements, and Steps

If you're moving from New Zealand to Hong Kong for work, study, or a longer stay, getting your banking sorted early can make your transition a lot smoother. By opening a bank account in Hong Kong, you can receive your salary more easily, manage day-to-day spending, and avoid the high fees that often come with international card transactions. 

This guide walks you through what New Zealanders need to know about opening a bank account in Hong Kong, including the requirements, steps, and some of the banks that offer options to foreigners. We'll also introduce you to the Wise account, a non-bank alternative that lets you hold and manage 40+ currencies, including NZD and HKD, all in one place.

Table of contents
Can I open a bank account in Hong Kong from New Zealand How to open a bank account in Hong Kong Best accounts in Hong Kong for foreigners HSBC One account Citibank Citi Plus account Bank of China HKD Current Account Standard Chartered HKD Current Account Wise account Summary

Can I open a bank account in Hong Kong from New Zealand

It’s possible for New Zealanders to open a bank account in Hong Kong, provided you meet the eligibility criteria for the account. Depending on the bank, you may be able to do the process from New Zealand, although many will require you to visit a branch in person.

If you’re looking for something you can open online from abroad, the Wise account ticks those boxes.

What do you need to open a bank account in Hong Kong

Exactly what’s needed to open a Hong Kong bank account can vary between providers, but in general you can expect to be asked for:²

• Hong Kong Identity Card (HKID)
• Passport
• Proof of address

The HKID is an official document that everyone aged 11 or older who’s permitted to stay in Hong Kong for more than 180 days must have.³ It needs to be applied for within 30 days of arrival, and is meant to be carried with you at all times. The HKID is used as a form of ID and is used to complete various processes there, including opening a bank account.

How to open a bank account in Hong Kong

To open a Hong Kong bank account as a New Zealander there are some general steps to take.

1. Assess the available options and choose which bank account suits your needs
2. Gather the documents needed for the application
3. Complete the online application or make an appointment for an in-person application at a branch

Best accounts in Hong Kong for foreigners

Hong Kong is home to a number of different banks that offer services to locals and foreigners alike. We’re going to take a look at four banks with a Hong Kong presence, delving into the details of an account they offer that a New Zealander could open.

• HSBC
• Citibank
• Bank of China
• Standard Chartered

We’ll also let you know a bit about Wise, a non-bank alternative that can be opened before you arrive in Hong Kong.

Before that though, here’s a few things to look out for when choosing which bank account to open.

• Eligibility criteria for foreigners
• Whether you can open an account from NZ
• Monthly account fees
• Exchange rate margins and international transfer fees
• What physical and virtual debit card options it has
• How the account can be managed

Now let’s take a look at the accounts on offer, focusing on the features, fees and any caveats to opening one.

HSBC One account

HSBC is an international bank with a local presence in many destinations, including Hong Kong. There they offer a few all-in-one accounts, including the base level HSBC One account.¹

• Spend and save in 12 major currencies including HKD, CNY and NZD
• No minimum account balance required
• Access to an investment platform
• Opportunities to earn rewards and gain access to exclusive benefits

These are some of the main fees to know about:⁴

Fee	Amount
Account fee	No fee
Card fee	Annual fee is waived Card replacement fee of 50 HKD
ATM withdrawal	Local and international withdrawals are free at HSBC Group’s ATM network Otherwise it is 25 HKD for local withdrawals or 40 HKD for overseas withdrawals.
Foreign currency transaction fee	Waived

The HSBC One account can be opened via the HSBC HK App.² As a New Zealander you can open the account in New Zealand or Hong Kong, but must have a HKID, proof of address and be able to provide any other documents they request.

Citibank Citi Plus account

In Hong Kong, Citibank offers the Citi Plus account. It’s a comprehensive account with features that support saving, investing and spending.⁵

• Enjoy special rewards, bonuses and welcome offers
• No minimum account balance required
• Access to a Citi Plus Debit Mastercard and Citi Plus Credit Card
• Fully managed using the Citi Mobile app

Here are some of the main account fees to be aware of:

Fee	Amount
Account fee	No fee
Card fee	Annual debit card fee is waived
ATM withdrawal	Local Citibank or Jetco ATM withdrawals are free Local withdrawals from other networks are 2.4% the HKD value Overseas ATM withdrawals are free however a conversion spread and foreign exchange fee may apply depending on the currency
Foreign currency transaction fee	1.95% for spending via the Mastercard or Visa network in currencies other than AUD, CAD, CHF, CNY, EUR, GBP, JPY, NZD, SGD, THB, USD

Provided you are 18-64 years old, have a HKID, reside in Hong Kong and have a Hong Kong address, you can apply for the Citi Plus account using a combination of their online application form and mobile app.⁵

Bank of China HKD Current Account

One of the biggest banks in China, Bank of China also offers services to people residing in Hong Kong. For daily spending, there’s a HKD Current Account.⁷ 

• Comes with a free cheque book
• Bank at any Bank of China branch
• Opportunity to open a USD Current Account as well

These are some of the fees associated with having a Bank of China Current Account with a BOC Mastercard Debit card.⁸ 

Fee	Amount
Account fee	Fee waived
Card fee	Annual debit card fee is waived
ATM withdrawal	Local BOC or Jetco ATM withdrawals are free Local withdrawals from Mastercard or Cirrus network are 25 HKD Withdrawals in Mainland China are 50 HKD Withdrawals outside Mainland China and Hong Kong are free
Foreign currency transaction fee	Fee waived

To open an account the Bank of China website says new customers need to make an appointment.⁷

Standard Chartered HKD Current Account

At Standard Chartered, their daily spending account for Hong Kong is the HKD Current Account.⁹ On top of this they also have accounts for CNY and USD. 

• Comes with a cheque book
• Minimum opening balance of 1000 HKD
• Overdraft protection

Here are some of the main fees for the Current Account and Standard Chartered debit card.⁰

Fee	Amount
Account fee	No fee
Card fee	No fee
ATM withdrawal	Local Jetco ATM withdrawals are free, or 28 HKD outside Hong Kong Visa or Mastercard network withdrawals are 28 HKD Local UnionPay withdrawals are 15 HKD, or 15 HKD + 0.5% outside Hong Kong
Foreign currency transaction fee	Up to 1.95%

Conveniently, the application process for a Standard Chartered Current account can be completed online.

Wise account

Unlike the other accounts mentioned, Wise isn’t a traditional bank account. Instead, it’s a multi-currency account that’s specifically designed to make moving money across borders easier.

• Mid-market exchange rate
• Receive, hold and send 40+ currencies
• Local account details available for 8+ currencies
• Order a Wise debit card for easy daily spending

Here’s a few of the key fees to know about:

Fee	Amount
Account fee	No fee
Card fee	One-off fee of 14 NZD
ATM withdrawal	Free to withdraw 350 NZD per month in 2 or less withdrawals Above this it is 1.75% plus 1.50 NZD per withdrawal
Foreign currency transaction fee	No fee for spending a currency you hold, Variable fee starting at 0.25%

The Wise account can be opened entirely online, with a quick and easy application process. You can do it from New Zealand, or in Hong Kong, the choice is yours.

🚀 Open a Wise account

Summary

Opening a bank account in Hong Kong as a New Zealander is relatively straightforward once you know the requirements and have your HKID.

HSBC, Citibank, Bank of China and Standard Chartered each offer options suitable for foreigners, but the right choice depends on what you need. If you want an account you can open before you arrive, or you expect to move money between New Zealand, Hong Kong and other currencies often, the Wise account can be a flexible alternative.

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💻 Open a Wise account online for free in minutes 💻

Sign up for Wise 🚀

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This general advice does not take into account your objectives, financial circumstances or needs and you should consider if it is appropriate for you.

Please see Terms of Use and product availability for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.

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Sources: 

1. HSBC - HSBC One
2. HSBC - How to Open a Hong Kong Account
3. GovHK - Settling in Hong Kong.
4. HSBC - Fees
5. Citibank - Citi Plus
6. Citibank - Banking Fees
7. BOC - Current Account
8. BOC - General Banking Service Charges
9. Standard Chartered - HKD Current Account
10. Standard Chartered - Service Charges

Date: 11 December 2025