Just got back from Hong Kong! Successfully opened five bank accounts in two days: HSBC, CMB Wing Lung, ZA, Ant Financial, and Tianxing! However, I encountered some problems with Bank of China and ICBC Asia, being rejected on the spot. I've compiled the complete application process, tips to avoid pitfalls, and practical tricks – this might be the most detailed Hong Kong bank card guide to date. Includes:
✅ Detailed bank application process (5 successful applications)
❌ Analysis of the real reasons for the two rejections
🎯 10+ Tips to Avoid Pitfalls
📱 Comparison of features and selection advice for various banks
A single tweet simplifies the entire credit card application process; we recommend saving it!
I. Pre-departure preparations (Importance: ★★★★★)
Must-have items list
Documents (all are required):
Original ID card (make sure it is valid)
Mainland Travel Permit for Hong Kong and Macao (valid for at least 6 months, endorsement must be valid!)
Keep the customs clearance slip (be sure to keep it after passing through customs, as some banks will check it).
Equipment category:
A mobile phone that supports NFC (required for HSBC; it is recommended to bring two as backups).
Power bank (excessive power consumption during the card application process)
Mainland China Class I savings card (ZA Bank requires verification)
Numerical data (prepare in advance):
Entry and exit records (PDF) (WeChat mini-program "Immigration Bureau" → Citizen Services → Entry and Exit Record Inquiry)
Detailed address in mainland China (Chinese and English versions; HSBC and CMB Wing Lung Bank will mail cards).
ID number (used as a tax identification number)
Mainland bank account (required by some banks)
Securities investment certificate (required by Bank of China (Hong Kong))
Network preparation:
Search for "overseas data package" on Alipay (recommended, cheap and stable).
Or buy a Hong Kong data SIM card on Taobao
Upon arrival in Hong Kong, immediately connect to local Wi-Fi (required for opening a virtual bank account).
Key tips for avoiding pitfalls
⚠️ Issues regarding time differences in entry and exit records:
After entering Hong Kong, it takes time for the immigration system to update entry and exit records!
Correct procedure: Do not rush to download your entry and exit records on the day of arrival. Wait until the afternoon or evening of that day to download them from the mini-program to ensure that your Hong Kong entry record has been updated and displayed.
⚠️ Major pitfalls in career selection:
If you are in the cryptocurrency industry or do not have a stable job, never choose "finance-related" in the career options!
Recommended choice:
Self-employed - the safest option
Housewives/Homemakers - HSBC Options
Freelancers - Some banks are available
Choosing "self-employed" avoids submitting complicated documents such as various tax certificates and pay slips.
⚠️ Phone NFC function:
HSBC requires NFC verification of your Hong Kong and Macau travel permit to open an account. If your phone's NFC is not working properly or cannot be recognized, we recommend:
Adjust the recognition position and angle several times.
Try a different phone
II. Bank Selection Strategy: A Combination of Physical Banks and Virtual Banks
My configuration plan
Physical bank (2 images):
HSBC - International Remittances, Investment Management
China Merchants Wing Lung - Backup, Cross-border Transfer
Virtual banks (3 images):
ZA Bank - Cryptocurrency deposits and withdrawals, daily spending
Ant Bank - Alipay ecosystem, micro-payment
Tianxing Bank - Backup and Time Deposits
Comparison of the characteristics of various banks
Important Reminder:
Traditional banks like HSBC and Standard Chartered have extremely strict risk controls; never use them to receive funds from the cryptocurrency market, or your account will be banned sooner or later!
Virtual banks (ZA, Ant Financial, Tianxing) are relatively friendly to the cryptocurrency market, but attention should still be paid to the compliance of the source of funds.
Recommended fund segregation: Receive funds through virtual bank → transfer to stock account → then transfer to traditional bank.
III. Successful Cases: Detailed Application Process for 5 Bank Cards
1. HSBC - Difficulty: ⭐⭐⭐
Why choose HSBC?
Low international remittance fees
Supports multi-currency accounts
You can open an investment account directly in the app to buy US stocks.
High brand recognition
Application process:
Step 1: Download the "HSBC Mobile Banking" APP
Step 2: Select “Open an Account” → Apply for an “HSBC One Integrated Account” (Red Lion Account)
Step 3: Fill in your personal information
Select "Exit-Entry Permit for Travelling to and from Hong Kong and Macao" as your identification document.
Select "Currently in Hong Kong"
Select "No" if you do not have a Hong Kong ID card.
Step 4: NFC recognition of Hong Kong and Macau travel permit (the most likely step to get stuck!)
Place the pass flat on the back of your phone in the NFC sensing area.
Move slowly to find the best position
If it keeps failing, try a different phone or borrow a demo unit from an Apple store.
Step 5: Fill in the account opening information
Reason for opening an account: Selected "Savings & Investment"
Occupation: Choose "Homemaker" or "Self-employed"
Source of funds: Select "Personal transfer"
Tax ID Number: Enter your ID card number
Step 6: Fill in the mailing address
⚠️ The address must be completely consistent in both Chinese and English!
I suggest using Baidu Translate or Google Translate, then copy and paste.
My first submission was rejected due to an inconsistent address; it was only approved after I resubmitted.
Step 7: Submit for review
Review time: Approved online on the same day (Important reminder: I was informed of approval after confirming and signing at the counter the next day!!!! No notification was given online).
Physical card mailed: I was told it will be mailed to my mainland China address in 3-4 weeks.
Do it immediately after approval:
Apply for the "Blue Lion Card" (everyday spending card) in the app.
Activating "biometric identification" and "dynamic security code" (it's very difficult to activate after returning to mainland China! But) I also
Applying for an investment account (essential for buying US stocks)
Submit Form W8 (US stocks are exempt from tax)
HSBC Avoidance Guide:
Never use this to receive funds from the cryptocurrency market; the risk control measures are extremely strict.
After opening an account, deposit a sum of money to activate the account as soon as possible (it is recommended to deposit more than HKD 10,000; currently, several physical banks charge a monthly management fee of HKD 100 for deposits below HKD 10,000).
Maintain a certain level of trading activity each month to avoid your account being frozen.
The Red Lion and Blue Lion are two different cards; the Blue Lion is the one for everyday spending.
2. China Merchants Wing Lung Bank - Difficulty: ⭐⭐
Why choose China Merchants Wing Lung?
As an alternative to Bank of China
Card mailing speed is faster than Bank of China.
The account opening threshold is relatively low.
There is a connection with China Merchants Bank in mainland China.
Application process:
Step 1: Download the "China Merchants Wing Lung One-Stop" APP
Step 2: Select “Open an account now” → “Non-Hong Kong resident account opening”
Step 3: Fill in your personal information
Document type: Mainland Travel Permit for Hong Kong and Macao
Purpose of opening an account: Investment and wealth management
Occupation: Self-employed
Step 4: Upload ID photo
front and back of ID card
Personal information page of Hong Kong and Macao travel permit
Entry/exit record (PDF) (Make sure you already have a Hong Kong entry record!)
Step 5: Fill in the address information
Detailed address in mainland China (in Chinese and English)
Contact number (Mainland China mobile number starting with +86)
Step 6: In-person witnessing
The next day, I went directly to the nearest physical branch for verification.
Prepare your ID card, Hong Kong and Macao travel permit, and proof of funds (preferably over 200,000 RMB, or a China Merchants Bank Golden Sunflower Card in mainland China).
I'll just ask a few simple questions, don't be nervous.
If the required funds are insufficient, a limited-access card will be issued, primarily restricting daily transfers to HKD 10,000.
Step 7: Awaiting approval
Review time: Same day. A minimum deposit of HKD 1,000 is required. If the monthly deposit is less than HKD 10,000, a management fee of HKD 100 will be charged.
Features of China Merchants Wing Lung:
It's relatively easier to pass the Bank of China's review.
Fast card mailing
It can be linked with China Merchants Bank in mainland China for fund transfers.
Suitable as a backup card
3. ZA Bank - Difficulty: ⭐
Why is it essential to open a ZA Bank account?
Opening an account is very simple and can be done in just a few minutes.
Most friendly to the crypto community
I have a physical VISA card that can be used for purchases in mainland China.
High-interest fixed deposit promotions are frequently offered.
Fixed deposit interest rate increase coupons (up to 4.9%) are issued every Tuesday.
Application process:
Step 1: Connect to local Hong Kong WiFi (Required!)
Step 2: Download the “ZA Bank” APP
Step 3: Select "Open an Account"
Step 4: Fill in basic information
Select "Pay taxes in China"
Occupation: Self-employed
Purpose of opening an account: savings and investment
Step 5: Upload documents
front and back of ID card
Entry and exit records (PDF)
Step 6: Facial Recognition
Follow the prompts to complete the facial recognition.
It's easier to pass through well-lit areas.
Step 7: Link your mainland bank card
A Class I savings card from mainland China is required.
Used to verify identity
Step 8: Submit for review
Review time: Approved instantly!
Get your 12-digit account number now!
You can choose to apply for a physical card (HKD 35).
Invitation code benefits:
Open an account using the invitation code (invitation code: F9P3F7) to receive account opening bonuses and coupons. We recommend filling it in!
ZA Bank Usage Tips:
Pay attention to fixed deposit interest rate coupons every Tuesday; the interest rate can reach as high as 4.9%.
Transfer money from HSBC FPS to ZA instantly.
Single withdrawal limit: 20 USDT (crypto withdrawals)
Suitable as a primary spending card
4. Ant Bank - Difficulty: ⭐
Why choose Ant Bank?
It's a subsidiary of Alipay, with a familiar interface.
Opening an account is super easy
Integration with the Alipay ecosystem
Suitable for small payments
Application process:
Step 1: Connect to Hong Kong local WiFi
Step 2: Download the “Ant Bank” APP
Step 3: Select "Open an Account Now"
Step 4: Fill in your personal information
Occupation: Self-employed (avoid submitting tax documents)
Purpose of opening an account: Savings
Step 5: Upload documents and entry/exit records
Step 6: Facial Recognition
Step 7: Submit for review
Review time: Approved within minutes
Available immediately
Ant Bank's features:
Most user-friendly interface, best Chinese support
Suitable for heavy Alipay users
Small payments are very convenient.
Backpack withdrawal with 0% handling fee
5. Airstar Bank - Difficulty: ⭐
Why choose Tianxing Bank?
Under Xiaomi, a reliable brand.
Low account opening threshold
Fixed deposit interest rates are good
It's suitable as a backup card.
Application process:
Step 1: Connect to Hong Kong local WiFi
Step 2: Download the "Airstar Bank" APP
Step 3: Fill in the information according to the process.
Occupation: Self-employed
Purpose of opening an account: savings and investment
Step 4: Upload documents and entry/exit records
Step 5: Facial Recognition
Step 6: Submit for review
Review time: Approved on the same day
Available immediately
Features of Tianxing Bank:
As an alternative to ZA Bank
If ZA Bank tightens its policies in the future, you can use Tianxing.
Time deposit interest rates are competitive.
Suitable as a backup card
IV. Case Studies of Failure: Two Heartbreaking Lessons from Rejection
1. Bank of China (Hong Kong) (BOC) - Analysis of Reasons for Rejection
Rejected: Online application rejected + branch office refuses on the spot
Analysis of reasons for rejection:
❌ Reason 1: Online applications from mainland users were collectively rejected.
It's said that recently, mainland users applying for Hong Kong residency through online channels have all been rejected, with no solution in sight. I was originally planning to use it as my primary credit card.
❌ Reason 2: Offline branch outlets can carry investment certificates
There are a few things to keep in mind when applying online. First, go early. If you start queuing at 8:03 AM, you can get in as soon as the doors open at 9:00 AM. Second, go to a smaller branch where there are fewer people. Third, bring your investment documentation.
❌ Reason 3: Insufficient reasons for opening an account
Bank of China has strict requirements for the reason for opening an account. Simply saying "savings" may not be enough. Saying "investment and wealth management" or "purchasing insurance" is more likely to be approved, but you need to bring proof of investment.
Features of Bank of China (Hong Kong):
The account opening threshold is relatively low (theoretically).
However, the actual review process is very strict.
Cross-border remittances via BOC Express are free of charge.
The physical card needs to be mailed and will arrive in mainland China in about two weeks.
Recommended branches: China Hong Kong City Branch, Mong Kok Branch
What if Bank of China rejects my application?
Immediately switch to HSBC and China Merchants Wing Lung Bank.
Adjust career choice and reason for opening an account
Ensure complete entry and exit records
2. ICBC Asia - Analysis of Reasons for Rejection
Rejection time: On-site rejection at offline branches.
Analysis of reasons for rejection:
❌ Reason: No appointment made
Opening an offline account with ICBC Asia requires prior appointment. When I went directly to the branch, I was told that there were no slots available for that day.
Correct approach: Make an appointment in advance on the official website or app and choose a suitable time slot.
ICBC Asia's characteristics:
The account opening threshold is relatively high.
In-person processing required
Card mailing speed is faster than Bank of China.
Suitable for users with large capital needs
As an alternative
What if ICBC Asia rejects my application?
Prepare all the materials before going.
Or simply give up and choose another bank.
China Merchants Wing Lung is a better alternative.
V. 5 things you must do after getting a card
1. Activate key functions immediately.
HSBC:
Enable biometric login (fingerprint/facial recognition)
Activate dynamic security code
Apply for Blue Lion Card
Open an investment account
Submit W8 form
Why do it immediately?
Once back in mainland China, these functions are difficult to activate, requiring verification with a Hong Kong mobile phone number or offline processing.
2. Activate Account
All banks must do this:
Deposit a sum of money (at least HKD 1,000 is recommended).
Make a transfer or purchase
Ensure the account status changes from "Pending Activation" to "Normal".
Why is it important?
An inactive account may be automatically closed by the bank, rendering all previous efforts futile.
3. Set up account linkage
HSBC's unique features:
After enabling "account linkage", online payments can be automatically converted to currency according to the real-time exchange rate, eliminating the need for manual currency exchange.
Operation path:
Within the app → Account Services → Enable Account Linkage (Free)
4. Apply for a physical card
Virtual banks:
ZA Bank: HKD 35
Ant Bank: Free
Tianxing Bank: Free
Physical banks:
HSBC: Automated Mail
China Merchants Wing Lung: Automatic Mailing
Recommendation: Apply for at least one physical card for convenient offline spending and ATM withdrawals.
5. Record all information
Must be recorded:
Account Number
Login username and password
Customer service hotline
mailing address
Recommendation: Use your phone's notes app or a password manager to save your passwords; don't just rely on your memory!
VI. Usage Tips and Precautions
Fund segregation strategy
Three layers of isolation:
Receiving layer: ZA Bank/Ant Bank (receives various types of funds)
Intermediate Tier: Stock Account
Savings tier: HSBC/China Merchants Wing Lung Bank (long-term savings, international remittances)
Why is quarantine necessary?
Traditional banks have strict risk controls; directly receiving funds from the cryptocurrency market will result in account suspension.
By transferring funds through a stock account, the source of funds becomes "investment income," making it safer.
Use cases of various banks
HSBC:
International money transfer (low fees)
US Stock Investment (Open an Account Directly via App)
Large savings (reliable brand)
❌ Do not use for depositing or withdrawing funds in the cryptocurrency market.
China Merchants Wing Lung:
Cross-border transfer
backup account
Collaboration with China Merchants Bank in mainland China
ZA Bank:
Cryptocurrency deposits and withdrawals (mainstream)
Everyday spending (physical VISA card)
Fixed deposit (pay attention to interest rate hike coupons every Tuesday)
Ant Bank:
Small payments
Alipay ecosystem
Backpack Gold
Tianxing Bank:
backup account
Fixed deposit
Keep your account active
Do it at least once a month:
Transfer or consumption
Log in to the app to check your balance.
Participate in bank activities
Why is it important?
Accounts that are not used for a long time may be marked as "dormant accounts" by banks or even closed.
Risk control precautions
Avoid triggering risk control measures:
Avoid frequent large-amount transfers.
Do not trade with suspicious accounts.
Do not use in gray industries
Maintain a reasonable explanation of the source of funds
What if I get flagged for risk control?
Contact customer service immediately
Provide proof of the source of funds
Cooperate with the bank's investigation
Have a lawyer ready if necessary
VII. Frequently Asked Questions
Q1: Is it necessary to go to Hong Kong?
A: Virtual banks (ZA, Ant Financial, Starbucks) require you to be in Hong Kong and connected to Hong Kong WiFi to open an account.
Q2: How much cash do I need to prepare?
A: I suggest you prepare HKD 10,000 in cash as a backup.
Q3: How long does it take to process a card application?
A: Virtual Banking: 10-30 minutes
Physical bank online: 30-60 minutes
In-person banking: 1-2 hours
Q4: How long will it take to receive the physical card?
A: HSBC: 7-14 days
Merchants Yonglong: 5-7 days
Bank of China: 10-14 days
Virtual banks: 7-10 days after application
Q5: How long after opening an account do I need to activate it?
A: We recommend depositing funds and making a transaction within 7 days of opening the account to ensure account activation.
Q6: Will my account be frozen?
A: Your account may be frozen if it remains inactive for an extended period or if there are suspicious transactions. Maintain at least one transaction per month and avoid large, suspicious transfers.
Q7: Can I use my Hong Kong bank card to link to Stripe and receive salary X?
A: Sure! I recommend using a Hong Kong bank card + Stripe plan. Detailed instructions will be updated later.
Q8: Which banks are friendly to the cryptocurrency community?
A: ZA Bank, Ant Bank, and Tianxing Bank are relatively friendly. HSBC and Bank of China have strict risk controls, so they are not recommended for use with cryptocurrency funds.
Q9: Can I reapply if my account opening fails?
A: Yes, but it is recommended to wait for a period of time (at least 1 week) and adjust the application materials accordingly.
Q10: Do I need to maintain a minimum deposit amount?
A: Virtual banks: No requirements
HSBC: We recommend maintaining a balance above HKD 10,000; otherwise, a management fee of HKD 100 per month will be charged.
China Merchants Wing Lung: We recommend maintaining a minimum asset value of HKD 10,000; if it falls below, charge a management fee of HKD 100 per month.
VIII. My Final Recommendation
Optimal combination scheme (3 images)
HSBC (International Remittances, Investments)
Bank of China (Hong Kong) (Mainland-Hong Kong transfer)
ZA Bank (Cryptocurrency deposits and withdrawals, daily expenses)
Recommended order for applying for cards
Day 1:
Morning: Arrival in Hong Kong
Noon: Connected to WiFi and applied for 3 virtual bank cards (ZA, Ant Financial, and Tianxing).
Afternoon: Online application for HSBC, Bank of China (Hong Kong), and China Merchants Wing Lung Bank accounts.
Day 2:
Applications submitted by Bank of China (Hong Kong) branch at 9:00 AM
If you failed to open an account with one bank on Day 1, you can try again with another bank.
Or go to a physical branch to apply for other bank services.
Final words
Using a Hong Kong bank card is the first and most important step in global asset allocation.
With a Hong Kong bank card, you can:
Investing in US and Hong Kong stocks
Purchase Hong Kong insurance
Receiving overseas income
Conducting cross-border e-commerce
Participating in the Web3 ecosystem
However, Hong Kong credit cards are just tools; the key is to use them in compliance with regulations and not to cross legal red lines.
Hopefully this guide will be helpful. If you have any questions, feel free to leave a comment!
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