To Our ZA Fam,
We’re proud and humbled to announce that more than 180,0001users have put their trust in ZA bank, i.e. the first virtual bank in HK. Over the summer, there were peak moments where a new member joined us every 10 seconds2. Thank you for your support as we continue our journey together to build Hong Kong’s 1stvirtual bank.
We’ve approached everything we do with the belief that our users are the key consideration in designing our products. Our flagship product – “ZA Savings Go”, which kickstarted a new chapter for traditional savings products, was created based on your feedback. Whether you have HKD 1 or HKD 500,000, you can enjoy a savings interest rate of 1%, which is 1,000 times3 the rate offered by traditional banks. Every month since launch, our user base has grown by double digits and in less than 100 days, we’ve crossed HKD 2.4 billion4of total deposits.
We aim to use technology to expand access to banking services. As Hong Kong’s first and only virtual bank that participated in the Hong Kong Government’s Cash Payout Scheme, we’ve facilitated more than 80,000 Hong Kong residents to receive their $10,000 with the touch of their fingers. The marketing campaign “I WANT 11K” also allowed us to introduce a much broader customer base to the virtual banking experience.
Last but not least, we’re well aware that many of you have expressed wishes for a ZA Bank card. We apologise for the wait. We haven’t forgotten our promise, and are making progress in bringing you a personalised, seamless and secure payment experience at the earliest possible time.
Thank you again for your trust and support. We’ll keep working hard to create the best virtual banking products and services for you. We look forward to continuing to be different, together with you.
CEO, ZA Bank
28 September 2020
1. As of 28 September 2020
2. The conclusion was drawn from the number of successful applications between 11pm to 11:59pm on 3 June 2020.
3. Based on the general savings deposit rate for HKD 100K on 28 May of most retail banks. Promotional offers excluded. ZA Savings Go rates are subject to change as per prevailing market conditions. Terms and conditions apply.
4. As of 30 June 2020