Best debit cards in Hong Kong: An overview of debit cards in Hong Kong

Interested in getting a debit card in Hong Kong? Right now, you might be overwhelmed with too many choices in a prosperous city such as Hong Kong. Knowing which debit card provider is best for your lifestyle can be difficult. Do you want to receive the highest cash rebate? Or maybe you're looking to save on your exchange rates? Perhaps you prefer the convenience of a virtual bank?

This guide will help you navigate through the different options available to find the best debit card that suits your needs. You will be able to find detailed information about each provider's eligibility, features, fees, rewards, and other essential details that you need to know before making any decisions.

Table of contents
HSBC Mastercard Debit Card Standard Chartered Multi-Currency Mastercard Debit Card Citibank Debit Mastercard ZA Card livi Debit Mastercard

HSBC Mastercard Debit Card

HSBC is one of the largest international banks in Hong Kong. HSBC offers various banking services, including the HSBC Mastercard Debit Card, which can be applied for via the HSBC HK Mobile Banking app. To be eligible for a Mastercard Debit card, you need to have an integrated account.

So, what can you do with your new HSBC Mastercard debit card?

One of the unique features of the HSBC Mastercard Debit Card is that you can easily access 12 major currencies (HKD, USD, GBP, JPY, RMB, EUR, THB, AUD, NZD, SGD, CAD and CHF).¹ When you make any purchases outside of these currencies, the payment will be settled in HKD according to the prevailing exchange rate.

You can shop, make purchases, and withdraw cash at HSBC Group ATMs worldwide without any fees. Additionally, you can earn a 0.4% cash rebate on all eligible purchases made with the card.¹

While HSBC waives some of its fees, you might be charged for other specific services. Let’s take a look:²

Services	Fees (HKD)
Overseas ATM cash withdrawal	HSBC Group’s ATM network: Waived Non-HSBC Group’s ATM: $0 - $40, depending on your integrated account service tie
Local ATM cash withdrawal	HSBC Group’s ATM network: Waived Non-HSBC Group’s ATM: $0 - $25, depending on your integrated account service tie
Card replacement fee	$0 - $50, depending on your integrated account service tie

Standard Chartered Multi-Currency Mastercard Debit Card

If you're someone who loves to travel abroad frequently, then the Standard Chartered Multi-Currency Mastercard Debit Card could be the perfect travel companion for you.

The card supports 11 major currencies, including HKD, RMB, USD, EUR, GBP, AUD, CAD, SGD, JPY, CHF and NZD. When you spend in these currencies, the card will not charge foreign exchange or handling fees. Additionally, when you withdraw cash from an ATM that carries the Mastercard or Maestro logos, you don't need to pay any fees. Moreover, the Standard Chartered Multi-Currency Mastercard Debit Card offers an unlimited 0.5% cash rebate on all local and global payments.³ However, the Standard Chartered Multi-Currency Mastercard Debit Card is only available for Priority Private and Priority Banking clients only.

While Standard Chartered waives most of its fees for the Multi-Currency Mastercard Debit Card, you need to ensure that you have sufficient funds in the linked primary account . Also, the transaction currency made should be in the list that the card supports. Otherwise, the currency will automatically be converted into HKD at an appropriate exchange rate. A foreign exchange rate mark-up fee of 0.95% on the full amount of the transaction will be charged to the account.⁴

Citibank Debit Mastercard

Citibank is one of the most popular global banks in Hong Kong. You’ll also find a wide range of products on offer, including the Citibank Debit Mastercard. You also need to have a Citibank account and be at least 18 years olds to apply for this card. If you have already owned a Citi ATM Card, you can simply convert this card into a Citi Debit Mastercard on the Citi Mobile app.

This card is the perfect solution for anyone who wants to easily withdraw cash, effortlessly manage their daily expenses, and significantly boost their savings.

Like the Citi ATM card, our debit card can be used with your personal identification number (PIN) to withdraw cash from ATMs. You do not need to pay for handling ATM cash withdrawals globally at any Citibank ATM using Citibank Debit Mastercard. Similar to other banks mentioned above, you can enjoy cash rebates with each purchase with the Citibank Debit Mastercard .

To make things even better, Citibank Debit Mastercard users also have access to the Citibank Global Wallet. You can activate your Citibank Global Wallet via the mobile app and start storing and transacting in 12 currencies, including HKD, AUD, CAD, CHF, EUR, GBP, JPY, NZD, RMB, SGD, THB, and USD.⁵ With Citibank Global Wallet, the bank will lock in foreign exchange rates and waive the handling fee.⁶ If you opt out of the Citibank Global Wallet, you will be charged a 1.95% Foreign Exchange Handling Fee for Foreign Currency Spending via Mastercard/Visa Network.⁷

ZA Card

ZA Card is a seamless banking service offered by ZA Bank, Hong Kong’s first virtual bank. One of the most exciting features of this card is the ability to personalise the last six digits of your card. With the ZA Card, you can withdraw cash for free at over 3,000 local bank ATMs in HK and nearly 3 million ATMs worldwide.⁸ You can also spend directly from your savings account, use contactless Visa payWave, benefit from a quick transaction verification process, set budgets, and connect your card to your Apple Pay.

To apply for a ZA Card, you must have an active account with ZA Bank. This means that you must first create an account with ZA Bank. If you are a Hong Kong resident, to be eligible for an account, you must be:⁹

• Are 18 years or above;
• Holding the original HKID;
• Having a phone number that you can receive text messages and answer calls in Hong Kong.

While ZA Bank waives its annual fees, there are other fees that you may be required to pay:¹⁰

Services	Fees (HKD)
Foreign Currency Transaction Handling Fee other than HKD	1.95% per transaction
Foreign currency transaction in Hong Kong Dollars	1.95% cross-border transaction Fee
Overseas cash withdrawal	$50 per transaction + 1.95% foreign exchange rate mark-up fee
Physical ZACard replacement fee	$50

livi Debit Mastercard

livi Bank is a virtual bank backed by BOC Hong Kong (Holdings), JD Digits and Jardines. Among the exciting product portfolio from the bank, livi Debit Mastercard combines the best of both worlds, offering you the convenience of a universal payment method in Mastercard and the simplicity, seamlessness, and security of digital contactless payment.

You can easily apply for a livi Debit Mastercard on the Overview screen of the livi app. Upon successful instant approval, you can use the debit card immediately at physical and online stores. You will have the option to add your card to Apple Pay or Google Pay to make payments at physical stores displaying their logos. You can also link your card to designated merchants on the livi app. With Token Connect, you can make payments quickly without entering card information. Sensitive details such as CVC and card numbers are only shown after additional authentication to maximise safety.¹¹

livi Bank doesn’t require any annual fees for the livi Debit Mastercard. However, you will be charged a 1.9% handling fee for any transactions made in currencies other than HKD.¹² Mastercard determines the daily exchange rate at the time of the transaction.

You’ve certainly got a lot of options when it comes to selecting a debit card in Hong Kong: it is tough to find the one that suits your needs. Make sure to research and explore different available options before making a final decision to ensure that you make the best choice.

If you're looking to send money quickly and want a good deal on international payments, consider using Wise! Many debit cards only allow you to exchange in a limited number of currencies. But with Wise, you can send money in over 50 currencies using the mid-market rate, without worrying about hidden fees or any markups for currency conversions. You just need to pay a low, transparent fee: you can see the cost and the total amount your recipient will receive before you confirm your Wise payment.

Sources:

1 HSBC HK: Mastercard Debit Card
2 HSBC HK: Bank tariff guide for HSBC Wealth and Personal Banking Customers
3 Standard Chartered HK: Multi-Currency Mastercard Debit Card
4 Standard Chartered HK: Service Charges
5 Citibank Hong Kong: Citibank Debit Mastercard - Convenient Banking
6 Citibank Hong Kong: Citibank Global Wallet - Save & Earn
7 Citibank Hong Kong: Citibank Service Fees
8 ZA Bank: Debit Card | ZA Card
9 ZA Bank: Bank Account Opening
10 ZA Bank: Fees and Charges Guide for Individual Customers
11 livi bank Hong Kong: livi Debit Mastercard
12 livi bank Hong Kong: Livi Bank Limited Fees & Charges

Sources last checked on 1 Mar 2024