[ZA Bank] From 0 to 1, Hong Kong’s first virtual bank is finally here.

[ZA Bank] From 0 to 1, Hong Kong’s first virtual bank is finally here.

Pioneer of the Industry

Today marks ZA Bank’s first day as Hong Kong’s first fully-operational virtual bank. It has been a year of non-stop work since obtaining our license from the HKMA in March 2019 and our pilot trial in December 2019.

Building a bank from scratch in such a short period of time is no easy task. But the passion and grit of the ZA team made the impossible now a reality, despite Covid-19 and home office arrangements recently.

With the support of and feedback from our ZA Fam, we precisely identified the pain points in the industry and have now become a bank that truly solves the needs of our users.

Build together

We have all waited hours and hours on end to open an account at traditional banks. Wait no more.  ZA customers can open their virtual bank account in five minutes, with just a phone number and an HKID card, all in the comfort of your own home.

In addition, most people feel that their savings interest rates are far too low. Many are also discouraged by the minimum deposit requirements and time commitment of banking products with higher returns. Therefore, we are pleased to roll out a brand new savings deposit product. ZA Savings Go enables you to simultaneously grow your wealth, in this conventionally ultra-low interest rate environment, and enjoy liquidity, as you are free to make withdrawals anytime to pay for bills or deal with any financial emergency. With no minimum balance requirement, you can enjoy an annual savings deposit rate of 1%[1], 1000 times above the market rate[2].

Finally, your calls for an instant loan offer are heard. To all our users, we announce our 30-minute pledge for our personal loan service. This is truly an unprecedented move in Hong Kong. From submitting the complete set of information and documents to receiving the application results, should any applicant have to wait for more than 30 minutes, ZA Bank will provide a cash rebate of HKD 10 per every minute of overtime[3], with an upper limit of HKD 500, to ensure our loans are “instant”.

Be different, together

Today marks the beginning of a new era. For you. For us. For the whole industry.

We will continue to treasure your feedback and commit to our community-driven approach to make banking accessible to everyone through technology.

Thank you once again for all of your steadfast support. I promise to walk with you all hand-in-hand to create a better virtual bank for a better future.


[1] The interest rate is effective on 24 Mar 2020. Please check out the latest rates here. Terms and Conditions apply.

[2] Based on the ZA Savings Go rate (1% p.a.) and the savings rate of most retail banks for HKD100k on 24 Mar 2020 (0.001%). Promotional offers excluded. If ZA Savings Go rate or the market rate changes, the comparison result will be different.

[3] Service hours between 9:30 am to 1 am, Monday to Sunday. Terms and Conditions apply.