What types of welcome offers do HK banks typically provide in 2026?

HK banks commonly offer welcome bonuses such as cash rebates, HKD cash rewards, air miles, interest rate boosts on savings accounts, and fee waivers for new customers who meet minimum deposit or spending requirements within a specified period.

How do I qualify for a bank welcome promotion in Hong Kong?

Most HK bank welcome promotions require you to be a new-to-bank customer, complete account opening within a promotional window, and fulfill conditions such as a minimum deposit amount, a set number of transactions, or a minimum credit card spend within the first 1–3 months.

Which HK banks offer the best savings interest rate promotions?

Banks such as HSBC, Hang Seng, Standard Chartered, and virtual banks like ZA Bank and Mox frequently offer elevated promotional interest rates — sometimes exceeding 4–5% p.a. — for new customers who deposit a minimum qualifying amount during the promotional period.

Can I claim welcome offers from multiple HK banks at the same time?

Yes, there is no restriction on opening accounts at multiple banks simultaneously, so you can take advantage of several welcome promotions at once, provided you meet each bank's individual eligibility criteria and are classified as a new-to-bank customer for each.

Do HK bank welcome promotions have an expiry date?

Yes, welcome promotions are time-limited and typically valid for a specific month or quarter — such as May 2026 — meaning you must open your account and complete the qualifying actions before the promotion's stated end date to receive the bonus.

Top 10 Best HK Bank Promotions & Welcome Offers May 2026

Top 10 Best HK Bank Promotions & Welcome Offers May 2026 | Top10Grid

1. sim Credit Card - OCBC Bank Hong Kong — KEY METRICS: Welcome bonus: HK$800 cash rebate via FPS (no minimum spend to claim welcome bonus). Total MoneyHero reward value: HK$15,960. Cashback rate: 0.4% to 8% depending on spending category. Annual fee: Waived first year. Minimum monthly income: No requirement. OVERVIEW: The sim Credit Card from OCBC Bank Hong Kong is a digital-first credit card that ranks number one in our May 2026 comparison by total reward value at HK$15,960 according to MoneyHero data. Its combination of a zero income requirement, a straightforward HK$800 FPS cash rebate welcome bonus with no minimum spend attached, and a market-leading cashback ceiling of 8% on selected categories make it the standout value proposition in this list, particularly for younger applicants, freelancers, and those without formal payslips. The card is managed entirely via the sim mobile app with near-instant approval and digital card issuance, making it one of the most frictionless applications in the market. The HK$800 welcome cash rebate is deposited directly via FPS with no platform restrictions, meaning it lands as spendable cash in the cardholder's FPS-linked bank account. PROS: No minimum income requirement making it widely accessible across all working-age adults in Hong Kong; HK$800 FPS cash rebate is credited promptly with no merchant or platform restrictions; cashback ceiling of 8% applies to selected high-value categories including online purchases and mobile wallet transactions; first-year annual fee waiver reduces initial holding cost; fully digital onboarding via the sim app with typically same-day virtual card issuance; no branch visit required at any stage of the application process. ELIGIBILITY: Must be aged 18 or above and a new OCBC sim credit card customer with no active sim card at the time of application. Eligible applicants include Hong Kong permanent residents and eligible HKID holders. Application is completed digitally through the sim mobile app with HKID verification and facial recognition. Standard HKMA know-your-customer (KYC) documentation applies throughout the onboarding process. CONS: The 8% cashback rate is category-restricted and subject to monthly spend caps, meaning high-volume spenders across all categories will not sustain this rate; base cashback rate of 0.4% on general non-bonus spend is among the lowest in this comparison; the HK$15,960 total reward value reflects cumulative card benefits over extended projected usage, not a single lump-sum welcome payment; premium travel benefits such as airport lounge access and comprehensive travel insurance are not included at this tier; high-spend users seeking structured miles accumulation may find the cashback-only structure suboptimal for maximising airline redemptions. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying.
2. The Platinum Card® - American Express Hong Kong — KEY METRICS: Welcome bonus: HK$6,000 Apple Store Gift Card. Total MoneyHero reward value: HK$15,350. Miles earn rate equivalent: $4.5 to $7.5 per mile (Membership Rewards). Annual fee: Premium tier (typically HK$2,000 or above per annum). Minimum monthly income: No stated floor, but premium credit profile effectively required. OVERVIEW: The American Express Platinum Card Hong Kong is the flagship premium credit product in this May 2026 comparison, ranking second by total MoneyHero reward value at HK$15,350. Its headline welcome offer is an HK$6,000 Apple Store Gift Card - the single highest-value welcome gift available in the MoneyHero May 2026 credit card comparison, and one that covers a comprehensive range of Apple hardware, accessories, and software purchases. The card earns Membership Rewards (MR) points at a rate equivalent to $4.5 to $7.5 per mile, and MR points transfer to over 12 airline and hotel loyalty partners including Cathay Pacific Asia Miles, Singapore Airlines KrisFlyer, and British Airways Executive Club, typically at a 1:2 MR-to-mile ratio. The Platinum Card goes beyond miles earning, offering a comprehensive suite of travel and lifestyle benefits that justify its premium annual fee for frequent travellers and high spenders. PROS: HK$6,000 Apple Store Gift Card is the largest single welcome gift in this entire comparison, covering iPhones, MacBooks, AirPods, and accessories; MR points transfer to 12 or more airline and hotel loyalty partners providing exceptional redemption flexibility including premium cabin awards; Priority Pass lounge access through supplementary card benefit; comprehensive travel insurance including emergency medical evacuation and trip cancellation; dedicated Amex concierge service available around the clock; purchase protection and extended warranty on eligible purchases in Hong Kong. ELIGIBILITY: Must be a new American Express credit card customer in Hong Kong who has not held an Amex card for the preceding 12 to 24 months. A strong credit history and clean TransUnion credit report are essential. Valid HKID, proof of Hong Kong address, and income documentation required. Welcome gift conditions typically require a minimum card spend of approximately HK$10,000 to HK$15,000 within the first 3 months of card opening, which applicants must confirm with Amex at time of application. CONS: Annual fee is the highest in this comparison at typically HK$2,000 or above per annum, which meaningfully reduces net value for lower-spend cardholders; the welcome gift is Apple Store restricted and cannot be converted to unrestricted cash; minimum spend conditions must be met to unlock the full HK$6,000 gift card, adding a qualifying hurdle; American Express merchant acceptance in Hong Kong, while strong at large retailers and restaurants, is narrower than Visa and Mastercard at wet markets, small local eateries, and certain government fee payment portals. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying.
3. DBS Eminent Visa Platinum Card - DBS Bank Hong Kong — KEY METRICS: Welcome bonus: HK$800 Apple Store Gift Card. Total MoneyHero reward value: HK$5,980. Cashback rate: 2% to 5% on qualifying categories. Annual fee: Waived first year (conditions apply). Minimum annual income: HK$150,000 (approximately HK$12,500 per month). OVERVIEW: The DBS Eminent Visa Platinum Card from DBS Bank Hong Kong ranks third overall in our May 2026 list, offering a total MoneyHero reward value of HK$5,980. Its welcome benefit is an HK$800 Apple Store Gift Card, redeemable across Apple's full product range including iPhones, iPads, accessories, and App Store credit. DBS Bank Hong Kong is a wholly-owned subsidiary of DBS Group Holdings, one of Southeast Asia's largest banking groups by assets, and is a licensed bank regulated by the HKMA. The card's cashback rate of 2% to 5% is among the more generous structures in Hong Kong's mid-tier credit card market, with the higher 5% rate applying to key spending categories including dining, online shopping, and overseas expenditure. The Visa Platinum network provides near-universal merchant acceptance globally and within Hong Kong, including at government payment portals and public transport top-up facilities. DBS Bank Hong Kong is also a recognised primary or supplementary bank for the MPF scheme, adding to its comprehensive retail banking proposition for HK residents. PROS: HK$800 Apple Store Gift Card provides broad redemption flexibility across hardware, accessories, and digital content; 2% base cashback rate is above the market average for general spend at this income tier; up to 5% cashback on priority categories delivers meaningful monthly return for targeted spenders; DBS Group's strong financial standing and HKMA oversight provide institutional reliability; Visa network ensures near-universal acceptance in Hong Kong and across more than 200 countries; first-year annual fee waiver reduces the initial cost of holding the card. ELIGIBILITY: Applicant must be a new DBS Bank Hong Kong credit card customer, defined as not holding any active DBS credit card in Hong Kong at the time of application. Minimum annual income of HK$150,000 is strictly required. Required documents include a valid HKID and proof of income such as the most recent one month payslip or the most recent tax assessment notice. Application is available online via the DBS website or the DBS digibank mobile app. CONS: The HK$150,000 annual income threshold excludes lower-income applicants, entry-level workers, and many part-time employees; the HK$800 Apple Gift Card welcome bonus, while practical, is the same value as several competitor cards in this comparison at a lower reward tier; the 5% cashback rate is category-specific and likely subject to a monthly spending cap; the HK$5,980 total reward value includes projected ongoing cashback benefits accumulated over an extended period beyond the welcome offer window; existing DBS Bank Hong Kong credit cardholders are not eligible for the new customer welcome bonus. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying.
4. Standard Chartered Smart Credit Card - Standard Chartered Bank Hong Kong — KEY METRICS: Welcome bonus: HK$800 HKTVmall e-Gift Voucher. Total MoneyHero reward value: HK$5,980. Cashback rate: 0.5% to 5% on qualifying categories. Annual fee: Waived (conditions apply). Minimum annual income: HK$96,000 (approximately HK$8,000 per month). OVERVIEW: The Standard Chartered Smart Credit Card ties with the DBS Eminent at HK$5,980 total MoneyHero reward value for May 2026 and ranks fourth in our list. Its key differentiator is an accessible income requirement of just HK$96,000 per annum, meaningfully lower than many competitors at this reward value tier. Standard Chartered Bank Hong Kong is one of the two major international banks with a primary banking licence issued by the HKMA, operating in Hong Kong since 1859, making it one of the most established banking institutions in the city. The HK$800 HKTVmall e-Gift Voucher welcome bonus is redeemable across Hong Kong's largest and most comprehensive online marketplace, covering categories from fresh groceries and packaged food to electronics, home appliances, baby products, beauty, and fashion, making it one of the most broadly practical welcome gift formats available. This broad utility compares favourably to single-retailer gift cards. PROS: The lowest annual income requirement among cards delivering HK$5,000 or above in total reward value in this May 2026 comparison, making it accessible to a wider salary range including junior professionals and skilled tradespeople; HKTVmall voucher covers diverse daily spending categories from fresh food to electronics across one of Hong Kong's most popular e-commerce platforms; Standard Chartered's 160-year HK presence and HKMA oversight provide strong institutional confidence; 5% cashback rate is competitive on priority spending categories; well-established card rewards infrastructure with clear online statement management. ELIGIBILITY: Must be a new Standard Chartered credit card customer with no active Standard Chartered credit card in Hong Kong at the time of application. Minimum annual income of HK$96,000 is required. Required documents include a valid HKID and income proof such as the most recent one month payslip, latest bank statement showing salary credit, or most recent tax demand note. Online application available on the Standard Chartered website or at any Standard Chartered branch in Hong Kong. CONS: The base cashback rate of 0.5% on general non-bonus spend is the lowest in this comparison, which penalises cardholders who spend broadly outside bonus categories; the 5% rate is restricted to specific online merchant categories and is likely subject to a monthly cap; the HKTVmall voucher is platform-restricted and cannot be used at physical retail stores not connected to the HKTVmall network; welcome bonus conditions may include a minimum spend threshold within the first 60 to 90 days of card opening; total HK$5,980 reward value includes projected long-term cashback benefits, not a single one-time payment. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying.
5. Hang Seng MMPOWER World Mastercard - Hang Seng Bank — KEY METRICS: Welcome bonus: HK$1,000 Cash Rebate via FPS (new credit card customers only, deposited directly to FPS-linked account). Total MoneyHero reward value: HK$5,680. Earn rate: Up to 8% in +FUN Dollars on qualifying spend. Annual fee: Applicable (conditions apply). Minimum annual income: HK$150,000 (approximately HK$12,500 per month). OVERVIEW: The Hang Seng MMPOWER World Mastercard from Hang Seng Bank is distinguished in this comparison by offering the most genuinely liquid welcome bonus in cash format: HK$1,000 deposited directly via FPS. Unlike gift cards tied to specific retailers or physical gifts requiring collection, FPS cash credit is immediately spendable at any merchant, for any purpose, including bill payments and transfers, making it the most consumer-friendly welcome format for everyday utility. Hang Seng Bank is a member of the HSBC Group and one of Hong Kong's five note-issuing banks listed on HKEX, with more than six decades of retail banking history in the city and one of the most extensive branch and ATM networks in Hong Kong. The card's proprietary rewards currency, +FUN Dollars, earns at up to 8% on qualifying transactions and can be redeemed as statement credit, delivering effective cashback at a high ceiling rate. The World Mastercard tier provides additional global travel and lifestyle benefits compared to standard Mastercard tiers. PROS: HK$1,000 FPS cash rebate is fully fungible and unrestricted, credited directly as spendable cash to any FPS-linked account with no platform or merchant limitations; the HK$1,000 welcome cash bonus is the highest single cash welcome payment in this comparison; up to 8% +FUN Dollars on qualifying spend is a high ceiling cashback rate; World Mastercard benefits include purchase protection and travel accident insurance; Hang Seng's 200 or more ATM and branch locations across Hong Kong provide strong physical accessibility; +FUN Dollars redeemable as statement credit providing genuine ongoing cashback equivalence. ELIGIBILITY: Must be a new Hang Seng Bank credit card customer, defined as not holding any active Hang Seng credit card at the time of application. Minimum annual income of HK$150,000 is required. Required documents include a valid HKID and proof of income such as the most recent payslip, tax assessment, or employment letter. Applications are accepted online via the Hang Seng website or Hang Seng Mobile App, or in person at any Hang Seng branch. CONS: The HK$150,000 annual income threshold is relatively high and excludes lower-income applicants and those with irregular income; the maximum 8% +FUN Dollars rate applies only to specific spending categories and is likely subject to a monthly earn cap, limiting maximum achievable cashback; existing Hang Seng credit cardholders are ineligible for the HK$1,000 welcome cash rebate, limiting its appeal for existing Hang Seng banking customers who may already hold another Hang Seng card; the World Mastercard tier does not include Priority Pass lounge access, unlike some competitor premium miles cards in this comparison; total reward value of HK$5,680 incorporates projected long-term card usage. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying.
6. Standard Chartered Cathay Mastercard - Standard Chartered Bank Hong Kong — KEY METRICS: Welcome gift: Delsey 30-inch GRENELLE SE Expandable Front Opening Suitcase (retail value HK$4,980). Total MoneyHero reward value: HK$4,980. Asia Miles earn rate: $2 to $6 per Asia Mile earned per HKD spent. Annual fee: Applicable. Minimum annual income: HK$96,000 (approximately HK$8,000 per month). OVERVIEW: The Standard Chartered Cathay Mastercard is the premier co-branded airline credit card between Standard Chartered Bank Hong Kong and Cathay Pacific Airways, Hong Kong's flagship carrier and a founding member of the oneworld airline alliance. Ranking sixth in our May 2026 list, its welcome gift is a Delsey 30-inch GRENELLE SE Expandable Front Opening Suitcase with a retail value of HK$4,980, one of the highest-value physical welcome gifts available in this comparison. The Delsey GRENELLE SE is a French-designed premium luggage piece featuring expandable main compartment capacity, a front opening pocket for quick access, and a double-wheel spinning system, making it a genuine long-term utility item for frequent travellers. The card earns Asia Miles at a rate of $2 to $6 per mile depending on spending category, with Cathay Pacific and cathay.com purchases, as well as foreign currency transactions, typically earning the highest rates. Asia Miles are redeemable for Cathay Pacific flights, upgrades, partner hotel stays, and lifestyle rewards, with well-known high value for premium cabin award redemptions on Cathay Pacific and oneworld partner airlines. PROS: Delsey 30-inch suitcase at retail value HK$4,980 is a high-quality, practical, and long-lasting welcome gift especially well suited to HK residents who travel frequently through Hong Kong International Airport; earn rate of up to $6 per Asia Mile on priority categories is among the highest available on a Cathay Pacific co-branded card in the HK market; Standard Chartered and Cathay partnership enables seamless Asia Miles crediting to the cardholder's Marco Polo Club or Asia Miles account with no conversion lag; lower income requirement of HK$96,000 per year makes it accessible relative to many premium miles cards which require HK$240,000 or above; Asia Miles do not expire as long as the card remains active with at least one qualifying transaction per 18-month rolling period. ELIGIBILITY: Must be a new Standard Chartered credit card customer not currently holding any active Standard Chartered credit card in Hong Kong. Minimum annual income of HK$96,000 required. Required documents include a valid HKID and income proof such as the latest one month payslip or most recent tax demand note. Welcome gift collection or delivery conditions vary and should be confirmed at time of application. Applications available via the Standard Chartered website or at branch. CONS: Welcome gift is a physical suitcase requiring collection or delivery arrangement and offers no cash conversion flexibility for applicants who may not travel regularly; base earn rate of $2 per mile on general HKD local spend is modest for daily non-travel transactions; annual fee typically applies after any initial waiver period and must be weighed against miles earning value; the card is primarily optimised for Cathay Pacific and oneworld redemptions, limiting value for HK residents who primarily use non-oneworld airlines; cashback and non-miles rewards options are limited or absent. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying.
7. American Express Explorer® Credit Card - American Express Hong Kong — KEY METRICS: Welcome bonus: Up to 72,000 miles (equivalent to 1,296,000 Membership Rewards points). Estimated MoneyHero welcome value: HK$4,870. Miles earn rate: $1 per mile equivalent on general HKD spend. Annual fee: Mid-premium tier. Minimum annual income: HK$300,000 (approximately HK$25,000 per month). OVERVIEW: The American Express Explorer Credit Card is a mid-premium miles card from American Express Hong Kong, offering one of the most generous upfront miles welcome bonuses in the May 2026 HK credit card market. The 72,000 miles welcome bonus, equivalent to 1,296,000 Membership Rewards (MR) points per MoneyHero valuation, represents substantial redemption potential for frequent flyers. To contextualise the value: 72,000 Asia Miles is sufficient for a round-trip economy class redemption between Hong Kong and Tokyo, Sydney, or Dubai, or a one-way Cathay Pacific business class award to certain regional destinations. Membership Rewards points are highly flexible, transferring to 12 or more airline and hotel loyalty programs, typically at a 1:2 MR-to-mile ratio, meaning 1,296,000 MR points yields 648,000 miles when transferred - or significant cashback if redeemed via the Amex statement credit route. The Explorer card sits below the Platinum tier in the Amex Hong Kong lineup, offering a compelling balance of welcome bonus generosity and a more affordable annual fee than the flagship Platinum. PROS: 72,000 miles welcome bonus is among the largest upfront miles offers available in Hong Kong for May 2026, delivering immediate high perceived value for miles enthusiasts; Membership Rewards points transfer to multiple airline and hotel partners providing superior redemption flexibility compared to co-branded single-airline cards like the Cathay Mastercard; estimated HK$4,870 MoneyHero value materially understates potential yield when MR points are redeemed for premium business or first class cabin awards, where value per mile can exceed HK$0.20 or more; purchase protection and travel accident insurance coverage included; mid-premium annual fee is lower than the Amex Platinum while retaining the full MR points ecosystem. ELIGIBILITY: Must be a new American Express credit card customer in Hong Kong, typically meaning no Amex card held or cancelled in the preceding 12 to 24 months. Minimum annual income of HK$300,000 is required, making this the highest income threshold among all 10 products in this comparison. Valid HKID and income proof required. The full 72,000 miles welcome bonus typically requires meeting a minimum spend condition of approximately HK$8,000 to HK$12,000 within the first 3 months of card opening, which must be confirmed with Amex before application. CONS: HK$300,000 annual income requirement is the highest in this entire top 10 list and excludes the majority of Hong Kong wage earners, limiting eligibility to upper-quartile income professionals; a minimum spend condition must be met in the first 3 months to unlock the full bonus, adding a qualifying commitment; American Express merchant acceptance in Hong Kong is narrower than Visa and Mastercard, particularly at smaller restaurants, wet markets, transport-linked payment terminals, and government payment counters; ongoing earn rate of $1 per mile on general spend is modest for everyday purchases outside any bonus earn categories. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying.
8. HKD Time Deposit New Customer Promotion - ZA Bank — KEY METRICS: Promotional rate: Up to 4.8% to 5.2% p.a. (indicative for new ZA Bank customers placing HKD new-to-bank funds, 1 to 3 month tenors, May 2026). Minimum deposit: HK$10,000. Eligibility: New ZA Bank customers or new-to-bank HKD funds only. HKDIC protection: Up to HK$500,000 per depositor. Application: Fully digital via ZA Bank mobile app. Lock-up period: 1 to 3 months (early withdrawal penalty applies). OVERVIEW: ZA Bank is Hong Kong's largest virtual bank by customer base among the eight HKMA-licensed virtual banking institutions, backed by ZhongAn Online P and C Insurance and Standard Chartered Bank. It has consistently offered some of the most competitive promotional time deposit rates in the HK market for new customers placing new-to-bank funds. For May 2026, ZA Bank's indicative promotional HKD time deposit rate is in the range of 4.8% to 5.2% p.a. for 1 to 3 month tenors, which is materially above the major traditional bank standard savings rates of 0.001% to 0.5% p.a. and competitive against prevailing HIBOR-linked benchmarks. Deposits are protected by the Hong Kong Deposit Protection Scheme (HKDIC) up to HK$500,000 per depositor, providing the same statutory guarantee as traditional licensed banks. The entire process is digital: account opening, deposit instruction placement, tenor selection, and maturity reinvestment instructions are all managed within the ZA Bank mobile app without a single branch visit. For a HK$100,000 deposit at 5.0% p.a. over 3 months, a depositor earns approximately HK$1,233 in interest income with zero market risk and no management fee deductions. Under Hong Kong's current tax framework, interest income for individual depositors is generally not subject to Salaries Tax, enhancing the net return. PROS: Among the highest promotional HKD time deposit rates available in the HK market for new customers in May 2026; fully digital onboarding with no branch visit required, completing HKMA KYC entirely via HKID scan and facial recognition; HKDIC-protected up to HK$500,000 per depositor, providing the same statutory protection as all licensed HK banks; low minimum deposit of HK$10,000 makes it accessible across income levels; FPS-linked maturity settlement enables rapid fund access on the maturity date; transparent rate disclosure with no hidden administration or custodian fees. ELIGIBILITY: Must be a new ZA Bank customer OR placing funds that are genuinely new to ZA Bank and not previously held at the bank. HKID required for app-based account opening with liveness face recognition verification. Must be aged 18 or above and eligible for Hong Kong bank account opening under HKMA KYC rules. Standard source-of-funds documentation may be requested for larger deposit amounts per CRS and anti-money laundering regulations. CONS: Promotional rate is strictly new-funds-only, meaning existing ZA Bank customers cannot roll over maturing deposits at the promotional rate and must continuously bring in external funds to qualify; the short 1 to 3 month tenor means the rate is not locked in beyond the promotional period, exposing depositors to potential rate risk at renewal if HIBOR declines further through 2026 on the back of anticipated US Federal Reserve rate cuts; as a virtual bank with no physical branches, complex queries and disputes must be resolved through the app or online channels, which may be inadequate for elderly customers or for large-sum issues requiring face-to-face resolution; the HK$500,000 HKDIC cap means depositors placing amounts above this threshold carry residual counterparty risk on the unprotected portion. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying.
9. New Funds HKD Time Deposit Promotion - Hang Seng Bank — KEY METRICS: Promotional rate: Up to 3.8% to 4.3% p.a. (indicative for new-to-bank HKD funds, 1 to 3 month tenors, May 2026). Minimum new-to-bank funds deposit: HK$10,000. Eligibility: Both new and existing Hang Seng account holders placing new-to-bank HKD funds. HKDIC protection: Up to HK$500,000 per depositor. Application: Hang Seng Mobile App, Personal e-Banking, or at branch. Lock-up period: 1 to 3 months (penalty for early withdrawal applies). OVERVIEW: Hang Seng Bank, a member of the HSBC Group and one of Hong Kong's five note-issuing banks listed on HKEX, consistently runs new-funds time deposit promotions that offer rates well above its standard savings rate. For May 2026, the indicative promotional HKD time deposit rate for qualifying new-to-bank funds at Hang Seng is in the range of 3.8% to 4.3% p.a. for 1 to 3 month tenors. A critical advantage over virtual bank alternatives is broader eligibility: Hang Seng's new-funds promotions are typically available to both new customers and long-standing existing account holders, provided the deposited funds represent genuinely fresh capital transferred from an external institution via CHATS, FPS, or cheque. This makes it directly relevant to the many HK residents who already hold a Hang Seng account and want to optimise idle cash without switching banks entirely. For a HK$200,000 new funds deposit at 4.0% p.a. over 3 months, a depositor earns approximately HK$2,000 in interest income with no market risk. Hang Seng's 200-plus ATM network and its integration with the broader HSBC Group platform add operational convenience for existing HSBC Group banking customers. PROS: Reputable HKMA-regulated major bank with over 60 years of retail banking history in Hong Kong, providing strong institutional confidence for large deposit amounts; HKDIC-protected up to HK$500,000 per depositor with the full weight of a listed, systemically important HK bank; broader eligibility than virtual bank promotions, with both new and existing Hang Seng account holders qualifying when placing genuine new-to-bank funds; multiple application channels including the Hang Seng Mobile App, Personal e-Banking portal, and physical branch network covering the whole of Hong Kong; promotional rate is materially above the standard Hang Seng savings rate of 0.001% p.a.; no placement fees or custodian charges apply to time deposit placement or maturity reinvestment instructions. ELIGIBILITY: Must hold or be eligible to open a Hang Seng Bank current or savings account. New accounts can be opened digitally via the Hang Seng Mobile App or at any Hang Seng branch. Deposited funds must be strictly new-to-bank, meaning transferred from an external institution via CHATS, FPS, or bank cheque and not representing funds recently withdrawn from Hang Seng. Minimum qualifying new funds deposit of HK$10,000 applies. Standard HKID and HKMA KYC documentation required. Larger deposits may prompt enhanced due diligence and source-of-funds queries under CRS and FATF requirements. CONS: Promotional rate of 3.8% to 4.3% p.a. is meaningfully lower than virtual bank competitors such as ZA Bank or WeLab Bank, which may offer 4.8% to 5.2% p.a. over the same period for new customers; the new-to-bank funds rule is strictly enforced and monitored, meaning rolling over maturing Hang Seng deposits at the promotional rate is not permitted; promotional terms, minimum deposit thresholds, and qualifying tenors are subject to frequent changes in line with HIBOR movements and the bank's funding needs; without an explicit reinvestment instruction placed before maturity, funds automatically revert to the standard savings rate at maturity, potentially resulting in a significant rate reduction if not proactively managed. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying.
10. Mox Save New Customer Rate Promotion - Mox Bank — KEY METRICS: Promotional savings rate: Up to 4.0% to 4.5% p.a. on eligible balances (indicative for new Mox Bank customers, May 2026). Minimum balance for promotional rate: HK$1 (no minimum balance requirement). Account type: Demand deposit savings account, fully liquid with no lock-up period. Annual fee: None. HKDIC protection: Up to HK$500,000 per depositor. Application: Digital only via Mox app. Secondary benefit: Mox debit card earns 1% cashback on all purchases. OVERVIEW: Mox Bank is a virtual bank in Hong Kong licensed by the HKMA and backed by a consortium including Standard Chartered Bank, PCCW, HKT, and Trip.com Group, giving it strong institutional parentage relative to some smaller virtual bank peers. Its flagship deposit product, Mox Save, offers new customers a competitive promotional savings rate indicatively in the range of 4.0% to 4.5% p.a. on eligible balances for May 2026, with no lock-up period and no minimum balance requirement. This structural distinction from time deposits is the defining advantage of Mox Save: funds remain fully accessible at any time with no early withdrawal penalty, interest accrues daily on the balance, and interest is credited to the account on a monthly basis. This makes Mox Save a genuine alternative to holding idle cash in a standard savings account, functioning more like a high-yield demand deposit than a structured term instrument. For customers who value liquidity, such as those maintaining an emergency fund, managing irregular cash flow, or bridging between investment decisions, the fully accessible nature of the account adds substantial practical value beyond the headline rate. The linked Mox debit card earns 1% cashback on all purchases, adding a secondary benefit layer for active users who consolidate their daily spending through the Mox ecosystem. PROS: Full liquidity with no lock-up period and no early withdrawal penalty, unlike 1 to 3 month time deposits; no minimum balance requirement allows even small savers to earn the promotional rate from the first dollar deposited; daily interest accrual with monthly crediting is transparent, compounding-friendly, and easier to track than quarterly or annual crediting structures; HKDIC-protected up to HK$500,000 per depositor; Standard Chartered-backed consortium provides strong institutional credibility underpinning the virtual bank licence; fully digital account opening with HKID and liveness recognition via the Mox app, with no branch visit required; the supplementary 1% debit card cashback on all spending adds meaningful ongoing value beyond the savings rate alone. ELIGIBILITY: Must be a new Mox Bank customer who has not previously held a Mox Bank account. Application is completed entirely within the Mox mobile app using HKID scan, liveness face recognition, and digital address verification in compliance with HKMA KYC standards. Must be aged 18 or above and a Hong Kong resident or eligible visa holder. There is no minimum income requirement for savings account opening at Mox Bank, making it accessible to students, part-time workers, and retirees as well as salaried professionals. CONS: Virtual bank with no physical branch presence in Hong Kong, meaning all customer service interactions occur through in-app chat or online channels, which may be inadequate for complex disputes or for customers who prefer face-to-face banking support; the promotional savings rate for new customers typically reverts to a lower standard rate after the initial promotional period, commonly 3 to 6 months, reducing the ongoing competitive advantage and requiring customers to regularly reassess alternatives; the 4.0% to 4.5% indicative promotional rate may decline further through 2026 as HIBOR tracks any continued downward adjustment in the US Federal Reserve policy rate; as a relatively newer institution compared to established majors such as HSBC, Hang Seng, or Standard Chartered, some customers may be less comfortable placing large sums above the HK$500,000 HKDIC protection cap. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying.

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#1
sim Credit Card - OCBC Bank Hong Kong
The sim Credit Card from OCBC Bank Hong Kong is a digital-first credit card that ranks number one in our May 2026 comparison by total reward value at HK$15,960 according to MoneyHero data. Its combination of a zero income requirement, a straightforward HK$800 FPS cash rebate welcome bonus with no minimum spend attached, and a market-leading cashback ceiling of 8% on selected categories make it the standout value proposition in this list, particularly for younger applicants, freelancers, and those without formal payslips.
The card is managed entirely via the sim mobile app with near-instant approval and digital card issuance, making it one of the most frictionless applications in the market. The HK$800 welcome cash rebate is deposited directly via FPS with no platform restrictions, meaning it lands as spendable cash in the cardholder's FPS-linked bank account.
PROS: No minimum income requirement making it widely accessible across all working-age adults in Hong Kong; HK$800 FPS cash rebate is credited promptly with no merchant or platform restrictions; cashback ceiling of 8% applies to selected high-value categories including online purchases and mobile wallet transactions; first-year annual fee waiver reduces initial holding cost; fully digital onboarding via the sim app with typically same-day virtual card issuance; no branch visit required at any stage of the application process.
Key Metrics
Welcome bonus::HK$800 cash rebate via FPS (no minimum spend to claim welcome bonus)Total MoneyHero reward value::HK$15,960Cashback rate::0.4% to 8% depending on spending category+2 more
Eligibility
Must be aged 18 or above and a new OCBC sim credit card customer with no active sim card at the time of application. Eligible applicants include Hong Kong permanent residents and eligible HKID holders. Application is completed digitally through the sim mobile app with HKID verification and facial recognition. Standard HKMA know-your-customer (KYC) documentation applies throughout the onboarding process. CONS: The 8% cashback rate is category-restricted and subject to monthly spend caps, meaning high-volume spenders across all categories will not sustain this rate
base cashback rate of 0.4% on general non-bonus spend is among the lowest in this comparison
the HK$15,960 total reward value reflects cumulative card benefits over extended projected usage, not a single lump-sum welcome payment
premium travel benefits such as airport lounge access and comprehensive travel insurance are not included at this tier
high-spend users seeking structured miles accumulation may find the cashback-only structure suboptimal for maximising airline redemptions. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying
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#2
The Platinum Card® - American Express Hong Kong
The American Express Platinum Card Hong Kong is the flagship premium credit product in this May 2026 comparison, ranking second by total MoneyHero reward value at HK$15,350. Its headline welcome offer is an HK$6,000 Apple Store Gift Card - the single highest-value welcome gift available in the MoneyHero May 2026 credit card comparison, and one that covers a comprehensive range of Apple hardware, accessories, and software purchases.
The card earns Membership Rewards (MR) points at a rate equivalent to $4.5 to $7.5 per mile, and MR points transfer to over 12 airline and hotel loyalty partners including Cathay Pacific Asia Miles, Singapore Airlines KrisFlyer, and British Airways Executive Club, typically at a 1:2 MR-to-mile ratio. The Platinum Card goes beyond miles earning, offering a comprehensive suite of travel and lifestyle benefits that justify its premium annual fee for frequent travellers and high spenders.
PROS: HK$6,000 Apple Store Gift Card is the largest single welcome gift in this entire comparison, covering iPhones, MacBooks, AirPods, and accessories; MR points transfer to 12 or more airline and hotel loyalty partners providing exceptional redemption flexibility including premium cabin awards; Priority Pass lounge access through supplementary card benefit; comprehensive travel insurance including emergency medical evacuation and trip cancellation; dedicated Amex concierge service available around the clock; purchase protection and extended warranty on eligible purchases in Hong Kong.
Key Metrics
Welcome bonus::HK$6,000 Apple Store Gift CardTotal MoneyHero reward value::HK$15,350Miles earn rate equivalent::$4.5 to $7.5 per mile (Membership Rewards)+2 more
Eligibility
Must be a new American Express credit card customer in Hong Kong who has not held an Amex card for the preceding 12 to 24 months. A strong credit history and clean TransUnion credit report are essential. Valid HKID, proof of Hong Kong address, and income documentation required. Welcome gift conditions typically require a minimum card spend of approximately HK$10,000 to HK$15,000 within the first 3 months of card opening, which applicants must confirm with Amex at time of application. CONS: Annual fee is the highest in this comparison at typically HK$2,000 or above per annum, which meaningfully reduces net value for lower-spend cardholders
the welcome gift is Apple Store restricted and cannot be converted to unrestricted cash
minimum spend conditions must be met to unlock the full HK$6,000 gift card, adding a qualifying hurdle
American Express merchant acceptance in Hong Kong, while strong at large retailers and restaurants, is narrower than Visa and Mastercard at wet markets, small local eateries, and certain government fee payment portals. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying
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#3
DBS Eminent Visa Platinum Card - DBS Bank Hong Kong
The DBS Eminent Visa Platinum Card from DBS Bank Hong Kong ranks third overall in our May 2026 list, offering a total MoneyHero reward value of HK$5,980. Its welcome benefit is an HK$800 Apple Store Gift Card, redeemable across Apple's full product range including iPhones, iPads, accessories, and App Store credit.
DBS Bank Hong Kong is a wholly-owned subsidiary of DBS Group Holdings, one of Southeast Asia's largest banking groups by assets, and is a licensed bank regulated by the HKMA. The card's cashback rate of 2% to 5% is among the more generous structures in Hong Kong's mid-tier credit card market, with the higher 5% rate applying to key spending categories including dining, online shopping, and overseas expenditure.
The Visa Platinum network provides near-universal merchant acceptance globally and within Hong Kong, including at government payment portals and public transport top-up facilities. DBS Bank Hong Kong is also a recognised primary or supplementary bank for the MPF scheme, adding to its comprehensive retail banking proposition for HK residents.
PROS: HK$800 Apple Store Gift Card provides broad redemption flexibility across hardware, accessories, and digital content; 2% base cashback rate is above the market average for general spend at this income tier; up to 5% cashback on priority categories delivers meaningful monthly return for targeted spenders; DBS Group's strong financial standing and HKMA oversight provide institutional reliability; Visa network ensures near-universal acceptance in Hong Kong and across more than 200 countries; first-year annual fee waiver reduces the initial cost of holding the card.
Key Metrics
Welcome bonus::HK$800 Apple Store Gift CardTotal MoneyHero reward value::HK$5,980Cashback rate::2% to 5% on qualifying categories+2 more
Eligibility
Applicant must be a new DBS Bank Hong Kong credit card customer, defined as not holding any active DBS credit card in Hong Kong at the time of application. Minimum annual income of HK$150,000 is strictly required. Required documents include a valid HKID and proof of income such as the most recent one month payslip or the most recent tax assessment notice. Application is available online via the DBS website or the DBS digibank mobile app. CONS: The HK$150,000 annual income threshold excludes lower-income applicants, entry-level workers, and many part-time employees
the HK$800 Apple Gift Card welcome bonus, while practical, is the same value as several competitor cards in this comparison at a lower reward tier
the 5% cashback rate is category-specific and likely subject to a monthly spending cap
the HK$5,980 total reward value includes projected ongoing cashback benefits accumulated over an extended period beyond the welcome offer window
existing DBS Bank Hong Kong credit cardholders are not eligible for the new customer welcome bonus. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying
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#4
Standard Chartered Smart Credit Card - Standard Chartered Bank Hong Kong
The Standard Chartered Smart Credit Card ties with the DBS Eminent at HK$5,980 total MoneyHero reward value for May 2026 and ranks fourth in our list. Its key differentiator is an accessible income requirement of just HK$96,000 per annum, meaningfully lower than many competitors at this reward value tier.
Standard Chartered Bank Hong Kong is one of the two major international banks with a primary banking licence issued by the HKMA, operating in Hong Kong since 1859, making it one of the most established banking institutions in the city. The HK$800 HKTVmall e-Gift Voucher welcome bonus is redeemable across Hong Kong's largest and most comprehensive online marketplace, covering categories from fresh groceries and packaged food to electronics, home appliances, baby products, beauty, and fashion, making it one of the most broadly practical welcome gift formats available.
This broad utility compares favourably to single-retailer gift cards. PROS: The lowest annual income requirement among cards delivering HK$5,000 or above in total reward value in this May 2026 comparison, making it accessible to a wider salary range including junior professionals and skilled tradespeople; HKTVmall voucher covers diverse daily spending categories from fresh food to electronics across one of Hong Kong's most popular e-commerce platforms; Standard Chartered's 160-year HK presence and HKMA oversight provide strong institutional confidence; 5% cashback rate is competitive on priority spending categories; well-established card rewards infrastructure with clear online statement management.
Key Metrics
Welcome bonus::HK$800 HKTVmall e-Gift VoucherTotal MoneyHero reward value::HK$5,980Cashback rate::0.5% to 5% on qualifying categories+2 more
Eligibility
Must be a new Standard Chartered credit card customer with no active Standard Chartered credit card in Hong Kong at the time of application. Minimum annual income of HK$96,000 is required. Required documents include a valid HKID and income proof such as the most recent one month payslip, latest bank statement showing salary credit, or most recent tax demand note. Online application available on the Standard Chartered website or at any Standard Chartered branch in Hong Kong. CONS: The base cashback rate of 0.5% on general non-bonus spend is the lowest in this comparison, which penalises cardholders who spend broadly outside bonus categories
the 5% rate is restricted to specific online merchant categories and is likely subject to a monthly cap
the HKTVmall voucher is platform-restricted and cannot be used at physical retail stores not connected to the HKTVmall network
welcome bonus conditions may include a minimum spend threshold within the first 60 to 90 days of card opening
total HK$5,980 reward value includes projected long-term cashback benefits, not a single one-time payment. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying
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#5
Hang Seng MMPOWER World Mastercard - Hang Seng Bank
The Hang Seng MMPOWER World Mastercard from Hang Seng Bank is distinguished in this comparison by offering the most genuinely liquid welcome bonus in cash format: HK$1,000 deposited directly via FPS. Unlike gift cards tied to specific retailers or physical gifts requiring collection, FPS cash credit is immediately spendable at any merchant, for any purpose, including bill payments and transfers, making it the most consumer-friendly welcome format for everyday utility.
Hang Seng Bank is a member of the HSBC Group and one of Hong Kong's five note-issuing banks listed on HKEX, with more than six decades of retail banking history in the city and one of the most extensive branch and ATM networks in Hong Kong. The card's proprietary rewards currency, +FUN Dollars, earns at up to 8% on qualifying transactions and can be redeemed as statement credit, delivering effective cashback at a high ceiling rate.
The World Mastercard tier provides additional global travel and lifestyle benefits compared to standard Mastercard tiers. PROS: HK$1,000 FPS cash rebate is fully fungible and unrestricted, credited directly as spendable cash to any FPS-linked account with no platform or merchant limitations; the HK$1,000 welcome cash bonus is the highest single cash welcome payment in this comparison; up to 8% +FUN Dollars on qualifying spend is a high ceiling cashback rate; World Mastercard benefits include purchase protection and travel accident insurance; Hang Seng's 200 or more ATM and branch locations across Hong Kong provide strong physical accessibility; +FUN Dollars redeemable as statement credit providing genuine ongoing cashback equivalence.
Key Metrics
Welcome bonus::HK$1,000 Cash Rebate via FPS (new credit card customers only, deposited directly to FPS-linked account)Total MoneyHero reward value::HK$5,680Earn rate: Up to:8% in +FUN Dollars on qualifying spend+2 more
Eligibility
Must be a new Hang Seng Bank credit card customer, defined as not holding any active Hang Seng credit card at the time of application. Minimum annual income of HK$150,000 is required. Required documents include a valid HKID and proof of income such as the most recent payslip, tax assessment, or employment letter. Applications are accepted online via the Hang Seng website or Hang Seng Mobile App, or in person at any Hang Seng branch. CONS: The HK$150,000 annual income threshold is relatively high and excludes lower-income applicants and those with irregular income
the maximum 8% +FUN Dollars rate applies only to specific spending categories and is likely subject to a monthly earn cap, limiting maximum achievable cashback
existing Hang Seng credit cardholders are ineligible for the HK$1,000 welcome cash rebate, limiting its appeal for existing Hang Seng banking customers who may already hold another Hang Seng card
the World Mastercard tier does not include Priority Pass lounge access, unlike some competitor premium miles cards in this comparison
total reward value of HK$5,680 incorporates projected long-term card usage. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying
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#6
Standard Chartered Cathay Mastercard - Standard Chartered Bank Hong Kong
The Standard Chartered Cathay Mastercard is the premier co-branded airline credit card between Standard Chartered Bank Hong Kong and Cathay Pacific Airways, Hong Kong's flagship carrier and a founding member of the oneworld airline alliance. Ranking sixth in our May 2026 list, its welcome gift is a Delsey 30-inch GRENELLE SE Expandable Front Opening Suitcase with a retail value of HK$4,980, one of the highest-value physical welcome gifts available in this comparison.
The Delsey GRENELLE SE is a French-designed premium luggage piece featuring expandable main compartment capacity, a front opening pocket for quick access, and a double-wheel spinning system, making it a genuine long-term utility item for frequent travellers. The card earns Asia Miles at a rate of $2 to $6 per mile depending on spending category, with Cathay Pacific and cathay.com purchases, as well as foreign currency transactions, typically earning the highest rates.
Asia Miles are redeemable for Cathay Pacific flights, upgrades, partner hotel stays, and lifestyle rewards, with well-known high value for premium cabin award redemptions on Cathay Pacific and oneworld partner airlines. PROS: Delsey 30-inch suitcase at retail value HK$4,980 is a high-quality, practical, and long-lasting welcome gift especially well suited to HK residents who travel frequently through Hong Kong International Airport; earn rate of up to $6 per Asia Mile on priority categories is among the highest available on a Cathay Pacific co-branded card in the HK market; Standard Chartered and Cathay partnership enables seamless Asia Miles crediting to the cardholder's Marco Polo Club or Asia Miles account with no conversion lag; lower income requirement of HK$96,000 per year makes it accessible relative to many premium miles cards which require HK$240,000 or above; Asia Miles do not expire as long as the card remains active with at least one qualifying transaction per 18-month rolling period.
Key Metrics
Welcome gift: Delsey:30-inch GRENELLE SE Expandable Front Opening Suitcase (retail value HK$4,980)Total MoneyHero reward value::HK$4,980Asia Miles earn rate::$2 to $6 per Asia Mile earned per HKD spent+2 more
Eligibility
Must be a new Standard Chartered credit card customer not currently holding any active Standard Chartered credit card in Hong Kong. Minimum annual income of HK$96,000 required. Required documents include a valid HKID and income proof such as the latest one month payslip or most recent tax demand note. Welcome gift collection or delivery conditions vary and should be confirmed at time of application. Applications available via the Standard Chartered website or at branch. CONS: Welcome gift is a physical suitcase requiring collection or delivery arrangement and offers no cash conversion flexibility for applicants who may not travel regularly
base earn rate of $2 per mile on general HKD local spend is modest for daily non-travel transactions
annual fee typically applies after any initial waiver period and must be weighed against miles earning value
the card is primarily optimised for Cathay Pacific and oneworld redemptions, limiting value for HK residents who primarily use non-oneworld airlines
cashback and non-miles rewards options are limited or absent. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying
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#7
American Express Explorer® Credit Card - American Express Hong Kong
The American Express Explorer Credit Card is a mid-premium miles card from American Express Hong Kong, offering one of the most generous upfront miles welcome bonuses in the May 2026 HK credit card market. The 72,000 miles welcome bonus, equivalent to 1,296,000 Membership Rewards (MR) points per MoneyHero valuation, represents substantial redemption potential for frequent flyers.
To contextualise the value: 72,000 Asia Miles is sufficient for a round-trip economy class redemption between Hong Kong and Tokyo, Sydney, or Dubai, or a one-way Cathay Pacific business class award to certain regional destinations. Membership Rewards points are highly flexible, transferring to 12 or more airline and hotel loyalty programs, typically at a 1:2 MR-to-mile ratio, meaning 1,296,000 MR points yields 648,000 miles when transferred - or significant cashback if redeemed via the Amex statement credit route.
The Explorer card sits below the Platinum tier in the Amex Hong Kong lineup, offering a compelling balance of welcome bonus generosity and a more affordable annual fee than the flagship Platinum. PROS: 72,000 miles welcome bonus is among the largest upfront miles offers available in Hong Kong for May 2026, delivering immediate high perceived value for miles enthusiasts; Membership Rewards points transfer to multiple airline and hotel partners providing superior redemption flexibility compared to co-branded single-airline cards like the Cathay Mastercard; estimated HK$4,870 MoneyHero value materially understates potential yield when MR points are redeemed for premium business or first class cabin awards, where value per mile can exceed HK$0.20 or more; purchase protection and travel accident insurance coverage included; mid-premium annual fee is lower than the Amex Platinum while retaining the full MR points ecosystem.
Key Metrics
Welcome bonus: Up to:72,000 miles (equivalent to 1,296,000 Membership Rewards points)Estimated MoneyHero welcome value::HK$4,870Miles earn rate::$1 per mile equivalent on general HKD spend+2 more
Eligibility
Must be a new American Express credit card customer in Hong Kong, typically meaning no Amex card held or cancelled in the preceding 12 to 24 months. Minimum annual income of HK$300,000 is required, making this the highest income threshold among all 10 products in this comparison. Valid HKID and income proof required. The full 72,000 miles welcome bonus typically requires meeting a minimum spend condition of approximately HK$8,000 to HK$12,000 within the first 3 months of card opening, which must be confirmed with Amex before application. CONS: HK$300,000 annual income requirement is the highest in this entire top 10 list and excludes the majority of Hong Kong wage earners, limiting eligibility to upper-quartile income professionals
a minimum spend condition must be met in the first 3 months to unlock the full bonus, adding a qualifying commitment
American Express merchant acceptance in Hong Kong is narrower than Visa and Mastercard, particularly at smaller restaurants, wet markets, transport-linked payment terminals, and government payment counters
ongoing earn rate of $1 per mile on general spend is modest for everyday purchases outside any bonus earn categories. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying
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#8
HKD Time Deposit New Customer Promotion - ZA Bank
ZA Bank is Hong Kong's largest virtual bank by customer base among the eight HKMA-licensed virtual banking institutions, backed by ZhongAn Online P and C Insurance and Standard Chartered Bank. It has consistently offered some of the most competitive promotional time deposit rates in the HK market for new customers placing new-to-bank funds.
For May 2026, ZA Bank's indicative promotional HKD time deposit rate is in the range of 4.8% to 5.2% p.a. for 1 to 3 month tenors, which is materially above the major traditional bank standard savings rates of 0.001% to 0.5% p.a. and competitive against prevailing HIBOR-linked benchmarks. Deposits are protected by the Hong Kong Deposit Protection Scheme (HKDIC) up to HK$500,000 per depositor, providing the same statutory guarantee as traditional licensed banks.
The entire process is digital: account opening, deposit instruction placement, tenor selection, and maturity reinvestment instructions are all managed within the ZA Bank mobile app without a single branch visit. For a HK$100,000 deposit at 5.0% p.a. over 3 months, a depositor earns approximately HK$1,233 in interest income with zero market risk and no management fee deductions.
Under Hong Kong's current tax framework, interest income for individual depositors is generally not subject to Salaries Tax, enhancing the net return. PROS: Among the highest promotional HKD time deposit rates available in the HK market for new customers in May 2026; fully digital onboarding with no branch visit required, completing HKMA KYC entirely via HKID scan and facial recognition; HKDIC-protected up to HK$500,000 per depositor, providing the same statutory protection as all licensed HK banks; low minimum deposit of HK$10,000 makes it accessible across income levels; FPS-linked maturity settlement enables rapid fund access on the maturity date; transparent rate disclosure with no hidden administration or custodian fees.
Key Metrics
Promotional rate: Up to:4.8% to 5.2% p.a. (indicative for new ZA Bank customers placing HKD new-to-bank funds, 1 to 3 month tenors, May 2026)Minimum deposit::HK$10,000Eligibility: New ZA Bank customers or new-to-bank HKD funds only:+3 more
Eligibility
Must be a new ZA Bank customer OR placing funds that are genuinely new to ZA Bank and not previously held at the bank. HKID required for app-based account opening with liveness face recognition verification. Must be aged 18 or above and eligible for Hong Kong bank account opening under HKMA KYC rules. Standard source-of-funds documentation may be requested for larger deposit amounts per CRS and anti-money laundering regulations. CONS: Promotional rate is strictly new-funds-only, meaning existing ZA Bank customers cannot roll over maturing deposits at the promotional rate and must continuously bring in external funds to qualify
the short 1 to 3 month tenor means the rate is not locked in beyond the promotional period, exposing depositors to potential rate risk at renewal if HIBOR declines further through 2026 on the back of anticipated US Federal Reserve rate cuts
as a virtual bank with no physical branches, complex queries and disputes must be resolved through the app or online channels, which may be inadequate for elderly customers or for large-sum issues requiring face-to-face resolution
the HK$500,000 HKDIC cap means depositors placing amounts above this threshold carry residual counterparty risk on the unprotected portion. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying
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#9
New Funds HKD Time Deposit Promotion - Hang Seng Bank
Hang Seng Bank, a member of the HSBC Group and one of Hong Kong's five note-issuing banks listed on HKEX, consistently runs new-funds time deposit promotions that offer rates well above its standard savings rate. For May 2026, the indicative promotional HKD time deposit rate for qualifying new-to-bank funds at Hang Seng is in the range of 3.8% to 4.3% p.a. for 1 to 3 month tenors.
A critical advantage over virtual bank alternatives is broader eligibility: Hang Seng's new-funds promotions are typically available to both new customers and long-standing existing account holders, provided the deposited funds represent genuinely fresh capital transferred from an external institution via CHATS, FPS, or cheque. This makes it directly relevant to the many HK residents who already hold a Hang Seng account and want to optimise idle cash without switching banks entirely.
For a HK$200,000 new funds deposit at 4.0% p.a. over 3 months, a depositor earns approximately HK$2,000 in interest income with no market risk. Hang Seng's 200-plus ATM network and its integration with the broader HSBC Group platform add operational convenience for existing HSBC Group banking customers.
PROS: Reputable HKMA-regulated major bank with over 60 years of retail banking history in Hong Kong, providing strong institutional confidence for large deposit amounts; HKDIC-protected up to HK$500,000 per depositor with the full weight of a listed, systemically important HK bank; broader eligibility than virtual bank promotions, with both new and existing Hang Seng account holders qualifying when placing genuine new-to-bank funds; multiple application channels including the Hang Seng Mobile App, Personal e-Banking portal, and physical branch network covering the whole of Hong Kong; promotional rate is materially above the standard Hang Seng savings rate of 0.001% p.a.; no placement fees or custodian charges apply to time deposit placement or maturity reinvestment instructions.
Key Metrics
Promotional rate: Up to:3.8% to 4.3% p.a. (indicative for new-to-bank HKD funds, 1 to 3 month tenors, May 2026)Minimum new-to-bank funds deposit::HK$10,000Eligibility: Both new and existing Hang Seng account holders placing new-to-bank HKD funds:+3 more
Eligibility
Must hold or be eligible to open a Hang Seng Bank current or savings account. New accounts can be opened digitally via the Hang Seng Mobile App or at any Hang Seng branch. Deposited funds must be strictly new-to-bank, meaning transferred from an external institution via CHATS, FPS, or bank cheque and not representing funds recently withdrawn from Hang Seng. Minimum qualifying new funds deposit of HK$10,000 applies. Standard HKID and HKMA KYC documentation required. Larger deposits may prompt enhanced due diligence and source-of-funds queries under CRS and FATF requirements. CONS: Promotional rate of 3.8% to 4.3% p.a. is meaningfully lower than virtual bank competitors such as ZA Bank or WeLab Bank, which may offer 4.8% to 5.2% p.a. over the same period for new customers
the new-to-bank funds rule is strictly enforced and monitored, meaning rolling over maturing Hang Seng deposits at the promotional rate is not permitted
promotional terms, minimum deposit thresholds, and qualifying tenors are subject to frequent changes in line with HIBOR movements and the bank's funding needs
without an explicit reinvestment instruction placed before maturity, funds automatically revert to the standard savings rate at maturity, potentially resulting in a significant rate reduction if not proactively managed. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying
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#10
Mox Save New Customer Rate Promotion - Mox Bank
Mox Bank is a virtual bank in Hong Kong licensed by the HKMA and backed by a consortium including Standard Chartered Bank, PCCW, HKT, and Trip.com Group, giving it strong institutional parentage relative to some smaller virtual bank peers. Its flagship deposit product, Mox Save, offers new customers a competitive promotional savings rate indicatively in the range of 4.0% to 4.5% p.a. on eligible balances for May 2026, with no lock-up period and no minimum balance requirement.
This structural distinction from time deposits is the defining advantage of Mox Save: funds remain fully accessible at any time with no early withdrawal penalty, interest accrues daily on the balance, and interest is credited to the account on a monthly basis. This makes Mox Save a genuine alternative to holding idle cash in a standard savings account, functioning more like a high-yield demand deposit than a structured term instrument.
For customers who value liquidity, such as those maintaining an emergency fund, managing irregular cash flow, or bridging between investment decisions, the fully accessible nature of the account adds substantial practical value beyond the headline rate. The linked Mox debit card earns 1% cashback on all purchases, adding a secondary benefit layer for active users who consolidate their daily spending through the Mox ecosystem.
PROS: Full liquidity with no lock-up period and no early withdrawal penalty, unlike 1 to 3 month time deposits; no minimum balance requirement allows even small savers to earn the promotional rate from the first dollar deposited; daily interest accrual with monthly crediting is transparent, compounding-friendly, and easier to track than quarterly or annual crediting structures; HKDIC-protected up to HK$500,000 per depositor; Standard Chartered-backed consortium provides strong institutional credibility underpinning the virtual bank licence; fully digital account opening with HKID and liveness recognition via the Mox app, with no branch visit required; the supplementary 1% debit card cashback on all spending adds meaningful ongoing value beyond the savings rate alone.
Key Metrics
Promotional savings rate: Up to:4.0% to 4.5% p.a. on eligible balances (indicative for new Mox Bank customers, May 2026)Minimum balance for promotional rate::HK$1 (no minimum balance requirement)Account type: Demand deposit savings account, fully liquid with no lock-up period:+4 more
Eligibility
Must be a new Mox Bank customer who has not previously held a Mox Bank account. Application is completed entirely within the Mox mobile app using HKID scan, liveness face recognition, and digital address verification in compliance with HKMA KYC standards. Must be aged 18 or above and a Hong Kong resident or eligible visa holder. There is no minimum income requirement for savings account opening at Mox Bank, making it accessible to students, part-time workers, and retirees as well as salaried professionals. CONS: Virtual bank with no physical branch presence in Hong Kong, meaning all customer service interactions occur through in-app chat or online channels, which may be inadequate for complex disputes or for customers who prefer face-to-face banking support
the promotional savings rate for new customers typically reverts to a lower standard rate after the initial promotional period, commonly 3 to 6 months, reducing the ongoing competitive advantage and requiring customers to regularly reassess alternatives
the 4.0% to 4.5% indicative promotional rate may decline further through 2026 as HIBOR tracks any continued downward adjustment in the US Federal Reserve policy rate
as a relatively newer institution compared to established majors such as HSBC, Hang Seng, or Standard Chartered, some customers may be less comfortable placing large sums above the HK$500,000 HKDIC protection cap. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying
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#1
sim Credit Card - OCBC Bank Hong Kong
The sim Credit Card from OCBC Bank Hong Kong is a digital-first credit card that ranks number one in our May 2026 comparison by total reward value at HK$15,960 according to MoneyHero data. Its combination of a zero income requirement, a straightforward HK$800 FPS cash rebate welcome bonus with no minimum spend attached, and a market-leading cashback ceiling of 8% on selected categories make it the standout value proposition in this list, particularly for younger applicants, freelancers, and those without formal payslips.
The card is managed entirely via the sim mobile app with near-instant approval and digital card issuance, making it one of the most frictionless applications in the market. The HK$800 welcome cash rebate is deposited directly via FPS with no platform restrictions, meaning it lands as spendable cash in the cardholder's FPS-linked bank account.
PROS: No minimum income requirement making it widely accessible across all working-age adults in Hong Kong; HK$800 FPS cash rebate is credited promptly with no merchant or platform restrictions; cashback ceiling of 8% applies to selected high-value categories including online purchases and mobile wallet transactions; first-year annual fee waiver reduces initial holding cost; fully digital onboarding via the sim app with typically same-day virtual card issuance; no branch visit required at any stage of the application process.
Key Metrics
Welcome bonus::HK$800 cash rebate via FPS (no minimum spend to claim welcome bonus)Total MoneyHero reward value::HK$15,960Cashback rate::0.4% to 8% depending on spending category+2 more
Eligibility
Must be aged 18 or above and a new OCBC sim credit card customer with no active sim card at the time of application. Eligible applicants include Hong Kong permanent residents and eligible HKID holders. Application is completed digitally through the sim mobile app with HKID verification and facial recognition. Standard HKMA know-your-customer (KYC) documentation applies throughout the onboarding process. CONS: The 8% cashback rate is category-restricted and subject to monthly spend caps, meaning high-volume spenders across all categories will not sustain this rate
base cashback rate of 0.4% on general non-bonus spend is among the lowest in this comparison
the HK$15,960 total reward value reflects cumulative card benefits over extended projected usage, not a single lump-sum welcome payment
premium travel benefits such as airport lounge access and comprehensive travel insurance are not included at this tier
high-spend users seeking structured miles accumulation may find the cashback-only structure suboptimal for maximising airline redemptions. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying
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#2
The Platinum Card® - American Express Hong Kong
The American Express Platinum Card Hong Kong is the flagship premium credit product in this May 2026 comparison, ranking second by total MoneyHero reward value at HK$15,350. Its headline welcome offer is an HK$6,000 Apple Store Gift Card - the single highest-value welcome gift available in the MoneyHero May 2026 credit card comparison, and one that covers a comprehensive range of Apple hardware, accessories, and software purchases.
The card earns Membership Rewards (MR) points at a rate equivalent to $4.5 to $7.5 per mile, and MR points transfer to over 12 airline and hotel loyalty partners including Cathay Pacific Asia Miles, Singapore Airlines KrisFlyer, and British Airways Executive Club, typically at a 1:2 MR-to-mile ratio. The Platinum Card goes beyond miles earning, offering a comprehensive suite of travel and lifestyle benefits that justify its premium annual fee for frequent travellers and high spenders.
PROS: HK$6,000 Apple Store Gift Card is the largest single welcome gift in this entire comparison, covering iPhones, MacBooks, AirPods, and accessories; MR points transfer to 12 or more airline and hotel loyalty partners providing exceptional redemption flexibility including premium cabin awards; Priority Pass lounge access through supplementary card benefit; comprehensive travel insurance including emergency medical evacuation and trip cancellation; dedicated Amex concierge service available around the clock; purchase protection and extended warranty on eligible purchases in Hong Kong.
Key Metrics
Welcome bonus::HK$6,000 Apple Store Gift CardTotal MoneyHero reward value::HK$15,350Miles earn rate equivalent::$4.5 to $7.5 per mile (Membership Rewards)+2 more
Eligibility
Must be a new American Express credit card customer in Hong Kong who has not held an Amex card for the preceding 12 to 24 months. A strong credit history and clean TransUnion credit report are essential. Valid HKID, proof of Hong Kong address, and income documentation required. Welcome gift conditions typically require a minimum card spend of approximately HK$10,000 to HK$15,000 within the first 3 months of card opening, which applicants must confirm with Amex at time of application. CONS: Annual fee is the highest in this comparison at typically HK$2,000 or above per annum, which meaningfully reduces net value for lower-spend cardholders
the welcome gift is Apple Store restricted and cannot be converted to unrestricted cash
minimum spend conditions must be met to unlock the full HK$6,000 gift card, adding a qualifying hurdle
American Express merchant acceptance in Hong Kong, while strong at large retailers and restaurants, is narrower than Visa and Mastercard at wet markets, small local eateries, and certain government fee payment portals. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying
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0
#3
DBS Eminent Visa Platinum Card - DBS Bank Hong Kong
The DBS Eminent Visa Platinum Card from DBS Bank Hong Kong ranks third overall in our May 2026 list, offering a total MoneyHero reward value of HK$5,980. Its welcome benefit is an HK$800 Apple Store Gift Card, redeemable across Apple's full product range including iPhones, iPads, accessories, and App Store credit.
DBS Bank Hong Kong is a wholly-owned subsidiary of DBS Group Holdings, one of Southeast Asia's largest banking groups by assets, and is a licensed bank regulated by the HKMA. The card's cashback rate of 2% to 5% is among the more generous structures in Hong Kong's mid-tier credit card market, with the higher 5% rate applying to key spending categories including dining, online shopping, and overseas expenditure.
The Visa Platinum network provides near-universal merchant acceptance globally and within Hong Kong, including at government payment portals and public transport top-up facilities. DBS Bank Hong Kong is also a recognised primary or supplementary bank for the MPF scheme, adding to its comprehensive retail banking proposition for HK residents.
PROS: HK$800 Apple Store Gift Card provides broad redemption flexibility across hardware, accessories, and digital content; 2% base cashback rate is above the market average for general spend at this income tier; up to 5% cashback on priority categories delivers meaningful monthly return for targeted spenders; DBS Group's strong financial standing and HKMA oversight provide institutional reliability; Visa network ensures near-universal acceptance in Hong Kong and across more than 200 countries; first-year annual fee waiver reduces the initial cost of holding the card.
Key Metrics
Welcome bonus::HK$800 Apple Store Gift CardTotal MoneyHero reward value::HK$5,980Cashback rate::2% to 5% on qualifying categories+2 more
Eligibility
Applicant must be a new DBS Bank Hong Kong credit card customer, defined as not holding any active DBS credit card in Hong Kong at the time of application. Minimum annual income of HK$150,000 is strictly required. Required documents include a valid HKID and proof of income such as the most recent one month payslip or the most recent tax assessment notice. Application is available online via the DBS website or the DBS digibank mobile app. CONS: The HK$150,000 annual income threshold excludes lower-income applicants, entry-level workers, and many part-time employees
the HK$800 Apple Gift Card welcome bonus, while practical, is the same value as several competitor cards in this comparison at a lower reward tier
the 5% cashback rate is category-specific and likely subject to a monthly spending cap
the HK$5,980 total reward value includes projected ongoing cashback benefits accumulated over an extended period beyond the welcome offer window
existing DBS Bank Hong Kong credit cardholders are not eligible for the new customer welcome bonus. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying
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1
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0
#4
Standard Chartered Smart Credit Card - Standard Chartered Bank Hong Kong
The Standard Chartered Smart Credit Card ties with the DBS Eminent at HK$5,980 total MoneyHero reward value for May 2026 and ranks fourth in our list. Its key differentiator is an accessible income requirement of just HK$96,000 per annum, meaningfully lower than many competitors at this reward value tier.
Standard Chartered Bank Hong Kong is one of the two major international banks with a primary banking licence issued by the HKMA, operating in Hong Kong since 1859, making it one of the most established banking institutions in the city. The HK$800 HKTVmall e-Gift Voucher welcome bonus is redeemable across Hong Kong's largest and most comprehensive online marketplace, covering categories from fresh groceries and packaged food to electronics, home appliances, baby products, beauty, and fashion, making it one of the most broadly practical welcome gift formats available.
This broad utility compares favourably to single-retailer gift cards. PROS: The lowest annual income requirement among cards delivering HK$5,000 or above in total reward value in this May 2026 comparison, making it accessible to a wider salary range including junior professionals and skilled tradespeople; HKTVmall voucher covers diverse daily spending categories from fresh food to electronics across one of Hong Kong's most popular e-commerce platforms; Standard Chartered's 160-year HK presence and HKMA oversight provide strong institutional confidence; 5% cashback rate is competitive on priority spending categories; well-established card rewards infrastructure with clear online statement management.
Key Metrics
Welcome bonus::HK$800 HKTVmall e-Gift VoucherTotal MoneyHero reward value::HK$5,980Cashback rate::0.5% to 5% on qualifying categories+2 more
Eligibility
Must be a new Standard Chartered credit card customer with no active Standard Chartered credit card in Hong Kong at the time of application. Minimum annual income of HK$96,000 is required. Required documents include a valid HKID and income proof such as the most recent one month payslip, latest bank statement showing salary credit, or most recent tax demand note. Online application available on the Standard Chartered website or at any Standard Chartered branch in Hong Kong. CONS: The base cashback rate of 0.5% on general non-bonus spend is the lowest in this comparison, which penalises cardholders who spend broadly outside bonus categories
the 5% rate is restricted to specific online merchant categories and is likely subject to a monthly cap
the HKTVmall voucher is platform-restricted and cannot be used at physical retail stores not connected to the HKTVmall network
welcome bonus conditions may include a minimum spend threshold within the first 60 to 90 days of card opening
total HK$5,980 reward value includes projected long-term cashback benefits, not a single one-time payment. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying
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1
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0
#5
Hang Seng MMPOWER World Mastercard - Hang Seng Bank
The Hang Seng MMPOWER World Mastercard from Hang Seng Bank is distinguished in this comparison by offering the most genuinely liquid welcome bonus in cash format: HK$1,000 deposited directly via FPS. Unlike gift cards tied to specific retailers or physical gifts requiring collection, FPS cash credit is immediately spendable at any merchant, for any purpose, including bill payments and transfers, making it the most consumer-friendly welcome format for everyday utility.
Hang Seng Bank is a member of the HSBC Group and one of Hong Kong's five note-issuing banks listed on HKEX, with more than six decades of retail banking history in the city and one of the most extensive branch and ATM networks in Hong Kong. The card's proprietary rewards currency, +FUN Dollars, earns at up to 8% on qualifying transactions and can be redeemed as statement credit, delivering effective cashback at a high ceiling rate.
The World Mastercard tier provides additional global travel and lifestyle benefits compared to standard Mastercard tiers. PROS: HK$1,000 FPS cash rebate is fully fungible and unrestricted, credited directly as spendable cash to any FPS-linked account with no platform or merchant limitations; the HK$1,000 welcome cash bonus is the highest single cash welcome payment in this comparison; up to 8% +FUN Dollars on qualifying spend is a high ceiling cashback rate; World Mastercard benefits include purchase protection and travel accident insurance; Hang Seng's 200 or more ATM and branch locations across Hong Kong provide strong physical accessibility; +FUN Dollars redeemable as statement credit providing genuine ongoing cashback equivalence.
Key Metrics
Welcome bonus::HK$1,000 Cash Rebate via FPS (new credit card customers only, deposited directly to FPS-linked account)Total MoneyHero reward value::HK$5,680Earn rate: Up to:8% in +FUN Dollars on qualifying spend+2 more
Eligibility
Must be a new Hang Seng Bank credit card customer, defined as not holding any active Hang Seng credit card at the time of application. Minimum annual income of HK$150,000 is required. Required documents include a valid HKID and proof of income such as the most recent payslip, tax assessment, or employment letter. Applications are accepted online via the Hang Seng website or Hang Seng Mobile App, or in person at any Hang Seng branch. CONS: The HK$150,000 annual income threshold is relatively high and excludes lower-income applicants and those with irregular income
the maximum 8% +FUN Dollars rate applies only to specific spending categories and is likely subject to a monthly earn cap, limiting maximum achievable cashback
existing Hang Seng credit cardholders are ineligible for the HK$1,000 welcome cash rebate, limiting its appeal for existing Hang Seng banking customers who may already hold another Hang Seng card
the World Mastercard tier does not include Priority Pass lounge access, unlike some competitor premium miles cards in this comparison
total reward value of HK$5,680 incorporates projected long-term card usage. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying
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1
source: hangseng Get it →
0
#6
Standard Chartered Cathay Mastercard - Standard Chartered Bank Hong Kong
The Standard Chartered Cathay Mastercard is the premier co-branded airline credit card between Standard Chartered Bank Hong Kong and Cathay Pacific Airways, Hong Kong's flagship carrier and a founding member of the oneworld airline alliance. Ranking sixth in our May 2026 list, its welcome gift is a Delsey 30-inch GRENELLE SE Expandable Front Opening Suitcase with a retail value of HK$4,980, one of the highest-value physical welcome gifts available in this comparison.
The Delsey GRENELLE SE is a French-designed premium luggage piece featuring expandable main compartment capacity, a front opening pocket for quick access, and a double-wheel spinning system, making it a genuine long-term utility item for frequent travellers. The card earns Asia Miles at a rate of $2 to $6 per mile depending on spending category, with Cathay Pacific and cathay.com purchases, as well as foreign currency transactions, typically earning the highest rates.
Asia Miles are redeemable for Cathay Pacific flights, upgrades, partner hotel stays, and lifestyle rewards, with well-known high value for premium cabin award redemptions on Cathay Pacific and oneworld partner airlines. PROS: Delsey 30-inch suitcase at retail value HK$4,980 is a high-quality, practical, and long-lasting welcome gift especially well suited to HK residents who travel frequently through Hong Kong International Airport; earn rate of up to $6 per Asia Mile on priority categories is among the highest available on a Cathay Pacific co-branded card in the HK market; Standard Chartered and Cathay partnership enables seamless Asia Miles crediting to the cardholder's Marco Polo Club or Asia Miles account with no conversion lag; lower income requirement of HK$96,000 per year makes it accessible relative to many premium miles cards which require HK$240,000 or above; Asia Miles do not expire as long as the card remains active with at least one qualifying transaction per 18-month rolling period.
Key Metrics
Welcome gift: Delsey:30-inch GRENELLE SE Expandable Front Opening Suitcase (retail value HK$4,980)Total MoneyHero reward value::HK$4,980Asia Miles earn rate::$2 to $6 per Asia Mile earned per HKD spent+2 more
Eligibility
Must be a new Standard Chartered credit card customer not currently holding any active Standard Chartered credit card in Hong Kong. Minimum annual income of HK$96,000 required. Required documents include a valid HKID and income proof such as the latest one month payslip or most recent tax demand note. Welcome gift collection or delivery conditions vary and should be confirmed at time of application. Applications available via the Standard Chartered website or at branch. CONS: Welcome gift is a physical suitcase requiring collection or delivery arrangement and offers no cash conversion flexibility for applicants who may not travel regularly
base earn rate of $2 per mile on general HKD local spend is modest for daily non-travel transactions
annual fee typically applies after any initial waiver period and must be weighed against miles earning value
the card is primarily optimised for Cathay Pacific and oneworld redemptions, limiting value for HK residents who primarily use non-oneworld airlines
cashback and non-miles rewards options are limited or absent. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying
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1
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#7
American Express Explorer® Credit Card - American Express Hong Kong
The American Express Explorer Credit Card is a mid-premium miles card from American Express Hong Kong, offering one of the most generous upfront miles welcome bonuses in the May 2026 HK credit card market. The 72,000 miles welcome bonus, equivalent to 1,296,000 Membership Rewards (MR) points per MoneyHero valuation, represents substantial redemption potential for frequent flyers.
To contextualise the value: 72,000 Asia Miles is sufficient for a round-trip economy class redemption between Hong Kong and Tokyo, Sydney, or Dubai, or a one-way Cathay Pacific business class award to certain regional destinations. Membership Rewards points are highly flexible, transferring to 12 or more airline and hotel loyalty programs, typically at a 1:2 MR-to-mile ratio, meaning 1,296,000 MR points yields 648,000 miles when transferred - or significant cashback if redeemed via the Amex statement credit route.
The Explorer card sits below the Platinum tier in the Amex Hong Kong lineup, offering a compelling balance of welcome bonus generosity and a more affordable annual fee than the flagship Platinum. PROS: 72,000 miles welcome bonus is among the largest upfront miles offers available in Hong Kong for May 2026, delivering immediate high perceived value for miles enthusiasts; Membership Rewards points transfer to multiple airline and hotel partners providing superior redemption flexibility compared to co-branded single-airline cards like the Cathay Mastercard; estimated HK$4,870 MoneyHero value materially understates potential yield when MR points are redeemed for premium business or first class cabin awards, where value per mile can exceed HK$0.20 or more; purchase protection and travel accident insurance coverage included; mid-premium annual fee is lower than the Amex Platinum while retaining the full MR points ecosystem.
Key Metrics
Welcome bonus: Up to:72,000 miles (equivalent to 1,296,000 Membership Rewards points)Estimated MoneyHero welcome value::HK$4,870Miles earn rate::$1 per mile equivalent on general HKD spend+2 more
Eligibility
Must be a new American Express credit card customer in Hong Kong, typically meaning no Amex card held or cancelled in the preceding 12 to 24 months. Minimum annual income of HK$300,000 is required, making this the highest income threshold among all 10 products in this comparison. Valid HKID and income proof required. The full 72,000 miles welcome bonus typically requires meeting a minimum spend condition of approximately HK$8,000 to HK$12,000 within the first 3 months of card opening, which must be confirmed with Amex before application. CONS: HK$300,000 annual income requirement is the highest in this entire top 10 list and excludes the majority of Hong Kong wage earners, limiting eligibility to upper-quartile income professionals
a minimum spend condition must be met in the first 3 months to unlock the full bonus, adding a qualifying commitment
American Express merchant acceptance in Hong Kong is narrower than Visa and Mastercard, particularly at smaller restaurants, wet markets, transport-linked payment terminals, and government payment counters
ongoing earn rate of $1 per mile on general spend is modest for everyday purchases outside any bonus earn categories. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying
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1
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#8
HKD Time Deposit New Customer Promotion - ZA Bank
ZA Bank is Hong Kong's largest virtual bank by customer base among the eight HKMA-licensed virtual banking institutions, backed by ZhongAn Online P and C Insurance and Standard Chartered Bank. It has consistently offered some of the most competitive promotional time deposit rates in the HK market for new customers placing new-to-bank funds.
For May 2026, ZA Bank's indicative promotional HKD time deposit rate is in the range of 4.8% to 5.2% p.a. for 1 to 3 month tenors, which is materially above the major traditional bank standard savings rates of 0.001% to 0.5% p.a. and competitive against prevailing HIBOR-linked benchmarks. Deposits are protected by the Hong Kong Deposit Protection Scheme (HKDIC) up to HK$500,000 per depositor, providing the same statutory guarantee as traditional licensed banks.
The entire process is digital: account opening, deposit instruction placement, tenor selection, and maturity reinvestment instructions are all managed within the ZA Bank mobile app without a single branch visit. For a HK$100,000 deposit at 5.0% p.a. over 3 months, a depositor earns approximately HK$1,233 in interest income with zero market risk and no management fee deductions.
Under Hong Kong's current tax framework, interest income for individual depositors is generally not subject to Salaries Tax, enhancing the net return. PROS: Among the highest promotional HKD time deposit rates available in the HK market for new customers in May 2026; fully digital onboarding with no branch visit required, completing HKMA KYC entirely via HKID scan and facial recognition; HKDIC-protected up to HK$500,000 per depositor, providing the same statutory protection as all licensed HK banks; low minimum deposit of HK$10,000 makes it accessible across income levels; FPS-linked maturity settlement enables rapid fund access on the maturity date; transparent rate disclosure with no hidden administration or custodian fees.
Key Metrics
Promotional rate: Up to:4.8% to 5.2% p.a. (indicative for new ZA Bank customers placing HKD new-to-bank funds, 1 to 3 month tenors, May 2026)Minimum deposit::HK$10,000Eligibility: New ZA Bank customers or new-to-bank HKD funds only:+3 more
Eligibility
Must be a new ZA Bank customer OR placing funds that are genuinely new to ZA Bank and not previously held at the bank. HKID required for app-based account opening with liveness face recognition verification. Must be aged 18 or above and eligible for Hong Kong bank account opening under HKMA KYC rules. Standard source-of-funds documentation may be requested for larger deposit amounts per CRS and anti-money laundering regulations. CONS: Promotional rate is strictly new-funds-only, meaning existing ZA Bank customers cannot roll over maturing deposits at the promotional rate and must continuously bring in external funds to qualify
the short 1 to 3 month tenor means the rate is not locked in beyond the promotional period, exposing depositors to potential rate risk at renewal if HIBOR declines further through 2026 on the back of anticipated US Federal Reserve rate cuts
as a virtual bank with no physical branches, complex queries and disputes must be resolved through the app or online channels, which may be inadequate for elderly customers or for large-sum issues requiring face-to-face resolution
the HK$500,000 HKDIC cap means depositors placing amounts above this threshold carry residual counterparty risk on the unprotected portion. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying
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1
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0
#9
New Funds HKD Time Deposit Promotion - Hang Seng Bank
Hang Seng Bank, a member of the HSBC Group and one of Hong Kong's five note-issuing banks listed on HKEX, consistently runs new-funds time deposit promotions that offer rates well above its standard savings rate. For May 2026, the indicative promotional HKD time deposit rate for qualifying new-to-bank funds at Hang Seng is in the range of 3.8% to 4.3% p.a. for 1 to 3 month tenors.
A critical advantage over virtual bank alternatives is broader eligibility: Hang Seng's new-funds promotions are typically available to both new customers and long-standing existing account holders, provided the deposited funds represent genuinely fresh capital transferred from an external institution via CHATS, FPS, or cheque. This makes it directly relevant to the many HK residents who already hold a Hang Seng account and want to optimise idle cash without switching banks entirely.
For a HK$200,000 new funds deposit at 4.0% p.a. over 3 months, a depositor earns approximately HK$2,000 in interest income with no market risk. Hang Seng's 200-plus ATM network and its integration with the broader HSBC Group platform add operational convenience for existing HSBC Group banking customers.
PROS: Reputable HKMA-regulated major bank with over 60 years of retail banking history in Hong Kong, providing strong institutional confidence for large deposit amounts; HKDIC-protected up to HK$500,000 per depositor with the full weight of a listed, systemically important HK bank; broader eligibility than virtual bank promotions, with both new and existing Hang Seng account holders qualifying when placing genuine new-to-bank funds; multiple application channels including the Hang Seng Mobile App, Personal e-Banking portal, and physical branch network covering the whole of Hong Kong; promotional rate is materially above the standard Hang Seng savings rate of 0.001% p.a.; no placement fees or custodian charges apply to time deposit placement or maturity reinvestment instructions.
Key Metrics
Promotional rate: Up to:3.8% to 4.3% p.a. (indicative for new-to-bank HKD funds, 1 to 3 month tenors, May 2026)Minimum new-to-bank funds deposit::HK$10,000Eligibility: Both new and existing Hang Seng account holders placing new-to-bank HKD funds:+3 more
Eligibility
Must hold or be eligible to open a Hang Seng Bank current or savings account. New accounts can be opened digitally via the Hang Seng Mobile App or at any Hang Seng branch. Deposited funds must be strictly new-to-bank, meaning transferred from an external institution via CHATS, FPS, or bank cheque and not representing funds recently withdrawn from Hang Seng. Minimum qualifying new funds deposit of HK$10,000 applies. Standard HKID and HKMA KYC documentation required. Larger deposits may prompt enhanced due diligence and source-of-funds queries under CRS and FATF requirements. CONS: Promotional rate of 3.8% to 4.3% p.a. is meaningfully lower than virtual bank competitors such as ZA Bank or WeLab Bank, which may offer 4.8% to 5.2% p.a. over the same period for new customers
the new-to-bank funds rule is strictly enforced and monitored, meaning rolling over maturing Hang Seng deposits at the promotional rate is not permitted
promotional terms, minimum deposit thresholds, and qualifying tenors are subject to frequent changes in line with HIBOR movements and the bank's funding needs
without an explicit reinvestment instruction placed before maturity, funds automatically revert to the standard savings rate at maturity, potentially resulting in a significant rate reduction if not proactively managed. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying
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1
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#10
Mox Save New Customer Rate Promotion - Mox Bank
Mox Bank is a virtual bank in Hong Kong licensed by the HKMA and backed by a consortium including Standard Chartered Bank, PCCW, HKT, and Trip.com Group, giving it strong institutional parentage relative to some smaller virtual bank peers. Its flagship deposit product, Mox Save, offers new customers a competitive promotional savings rate indicatively in the range of 4.0% to 4.5% p.a. on eligible balances for May 2026, with no lock-up period and no minimum balance requirement.
This structural distinction from time deposits is the defining advantage of Mox Save: funds remain fully accessible at any time with no early withdrawal penalty, interest accrues daily on the balance, and interest is credited to the account on a monthly basis. This makes Mox Save a genuine alternative to holding idle cash in a standard savings account, functioning more like a high-yield demand deposit than a structured term instrument.
For customers who value liquidity, such as those maintaining an emergency fund, managing irregular cash flow, or bridging between investment decisions, the fully accessible nature of the account adds substantial practical value beyond the headline rate. The linked Mox debit card earns 1% cashback on all purchases, adding a secondary benefit layer for active users who consolidate their daily spending through the Mox ecosystem.
PROS: Full liquidity with no lock-up period and no early withdrawal penalty, unlike 1 to 3 month time deposits; no minimum balance requirement allows even small savers to earn the promotional rate from the first dollar deposited; daily interest accrual with monthly crediting is transparent, compounding-friendly, and easier to track than quarterly or annual crediting structures; HKDIC-protected up to HK$500,000 per depositor; Standard Chartered-backed consortium provides strong institutional credibility underpinning the virtual bank licence; fully digital account opening with HKID and liveness recognition via the Mox app, with no branch visit required; the supplementary 1% debit card cashback on all spending adds meaningful ongoing value beyond the savings rate alone.
Key Metrics
Promotional savings rate: Up to:4.0% to 4.5% p.a. on eligible balances (indicative for new Mox Bank customers, May 2026)Minimum balance for promotional rate::HK$1 (no minimum balance requirement)Account type: Demand deposit savings account, fully liquid with no lock-up period:+4 more
Eligibility
Must be a new Mox Bank customer who has not previously held a Mox Bank account. Application is completed entirely within the Mox mobile app using HKID scan, liveness face recognition, and digital address verification in compliance with HKMA KYC standards. Must be aged 18 or above and a Hong Kong resident or eligible visa holder. There is no minimum income requirement for savings account opening at Mox Bank, making it accessible to students, part-time workers, and retirees as well as salaried professionals. CONS: Virtual bank with no physical branch presence in Hong Kong, meaning all customer service interactions occur through in-app chat or online channels, which may be inadequate for complex disputes or for customers who prefer face-to-face banking support
the promotional savings rate for new customers typically reverts to a lower standard rate after the initial promotional period, commonly 3 to 6 months, reducing the ongoing competitive advantage and requiring customers to regularly reassess alternatives
the 4.0% to 4.5% indicative promotional rate may decline further through 2026 as HIBOR tracks any continued downward adjustment in the US Federal Reserve policy rate
as a relatively newer institution compared to established majors such as HSBC, Hang Seng, or Standard Chartered, some customers may be less comfortable placing large sums above the HK$500,000 HKDIC protection cap. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying
Google
1
source: mox Get it →

Quick Comparison

Metric	#1sim Credit Card - OCBC Bank Hong Kong	#2The Platinum Card® - American Express Hong Kong	#3DBS Eminent Visa Platinum Card - DBS Bank Hong Kong	#4Standard Chartered Smart Credit Card - Standard Chartered Bank Hong Kong	#5Hang Seng MMPOWER World Mastercard - Hang Seng Bank	#6Standard Chartered Cathay Mastercard - Standard Chartered Bank Hong Kong	#7American Express Explorer® Credit Card - American Express Hong Kong	#8HKD Time Deposit New Customer Promotion - ZA Bank	#9New Funds HKD Time Deposit Promotion - Hang Seng Bank	#10Mox Save New Customer Rate Promotion - Mox Bank
Welcome bonus:	HK$800 cash rebate via FPS (no minimum spend to claim welcome bonus)	HK$6,000 Apple Store Gift Card	HK$800 Apple Store Gift Card	HK$800 HKTVmall e-Gift Voucher	HK$1,000 Cash Rebate via FPS (new credit card customers only, deposited directly to FPS-linked account)	—	—	—	—	—
Total MoneyHero reward value:	HK$15,960	HK$15,350	HK$5,980	HK$5,980	HK$5,680	HK$4,980	—	—	—	—
Cashback rate:	0.4% to 8% depending on spending category	—	2% to 5% on qualifying categories	0.5% to 5% on qualifying categories	—	—	—	—	—	—
Annual fee: Waived first year		—	—	—	—	—	—	—	—	—
Minimum monthly income: No requirement		—	—	—	—	—	—	—	—	—

Data extracted from item descriptions. Verify rates with the issuing institution.

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0
#1
sim Credit Card - OCBC Bank Hong Kong
The sim Credit Card from OCBC Bank Hong Kong is a digital-first credit card that ranks number one in our May 2026 comparison by total reward value at HK$15,960 according to MoneyHero data. Its combination of a zero income requirement, a straightforward HK$800 FPS cash rebate welcome bonus with no minimum spend attached, and a market-leading cashback ceiling of 8% on selected categories make it the standout value proposition in this list, particularly for younger applicants, freelancers, and those without formal payslips.
The card is managed entirely via the sim mobile app with near-instant approval and digital card issuance, making it one of the most frictionless applications in the market. The HK$800 welcome cash rebate is deposited directly via FPS with no platform restrictions, meaning it lands as spendable cash in the cardholder's FPS-linked bank account.
PROS: No minimum income requirement making it widely accessible across all working-age adults in Hong Kong; HK$800 FPS cash rebate is credited promptly with no merchant or platform restrictions; cashback ceiling of 8% applies to selected high-value categories including online purchases and mobile wallet transactions; first-year annual fee waiver reduces initial holding cost; fully digital onboarding via the sim app with typically same-day virtual card issuance; no branch visit required at any stage of the application process.
Key Metrics
Welcome bonus::HK$800 cash rebate via FPS (no minimum spend to claim welcome bonus)Total MoneyHero reward value::HK$15,960Cashback rate::0.4% to 8% depending on spending category+2 more
Eligibility
Must be aged 18 or above and a new OCBC sim credit card customer with no active sim card at the time of application. Eligible applicants include Hong Kong permanent residents and eligible HKID holders. Application is completed digitally through the sim mobile app with HKID verification and facial recognition. Standard HKMA know-your-customer (KYC) documentation applies throughout the onboarding process. CONS: The 8% cashback rate is category-restricted and subject to monthly spend caps, meaning high-volume spenders across all categories will not sustain this rate
base cashback rate of 0.4% on general non-bonus spend is among the lowest in this comparison
the HK$15,960 total reward value reflects cumulative card benefits over extended projected usage, not a single lump-sum welcome payment
premium travel benefits such as airport lounge access and comprehensive travel insurance are not included at this tier
high-spend users seeking structured miles accumulation may find the cashback-only structure suboptimal for maximising airline redemptions. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying
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1
source: com Get it →
0
#2
The Platinum Card® - American Express Hong Kong
The American Express Platinum Card Hong Kong is the flagship premium credit product in this May 2026 comparison, ranking second by total MoneyHero reward value at HK$15,350. Its headline welcome offer is an HK$6,000 Apple Store Gift Card - the single highest-value welcome gift available in the MoneyHero May 2026 credit card comparison, and one that covers a comprehensive range of Apple hardware, accessories, and software purchases.
The card earns Membership Rewards (MR) points at a rate equivalent to $4.5 to $7.5 per mile, and MR points transfer to over 12 airline and hotel loyalty partners including Cathay Pacific Asia Miles, Singapore Airlines KrisFlyer, and British Airways Executive Club, typically at a 1:2 MR-to-mile ratio. The Platinum Card goes beyond miles earning, offering a comprehensive suite of travel and lifestyle benefits that justify its premium annual fee for frequent travellers and high spenders.
PROS: HK$6,000 Apple Store Gift Card is the largest single welcome gift in this entire comparison, covering iPhones, MacBooks, AirPods, and accessories; MR points transfer to 12 or more airline and hotel loyalty partners providing exceptional redemption flexibility including premium cabin awards; Priority Pass lounge access through supplementary card benefit; comprehensive travel insurance including emergency medical evacuation and trip cancellation; dedicated Amex concierge service available around the clock; purchase protection and extended warranty on eligible purchases in Hong Kong.
Key Metrics
Welcome bonus::HK$6,000 Apple Store Gift CardTotal MoneyHero reward value::HK$15,350Miles earn rate equivalent::$4.5 to $7.5 per mile (Membership Rewards)+2 more
Eligibility
Must be a new American Express credit card customer in Hong Kong who has not held an Amex card for the preceding 12 to 24 months. A strong credit history and clean TransUnion credit report are essential. Valid HKID, proof of Hong Kong address, and income documentation required. Welcome gift conditions typically require a minimum card spend of approximately HK$10,000 to HK$15,000 within the first 3 months of card opening, which applicants must confirm with Amex at time of application. CONS: Annual fee is the highest in this comparison at typically HK$2,000 or above per annum, which meaningfully reduces net value for lower-spend cardholders
the welcome gift is Apple Store restricted and cannot be converted to unrestricted cash
minimum spend conditions must be met to unlock the full HK$6,000 gift card, adding a qualifying hurdle
American Express merchant acceptance in Hong Kong, while strong at large retailers and restaurants, is narrower than Visa and Mastercard at wet markets, small local eateries, and certain government fee payment portals. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying
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1
source: americanexpress Get it →
0
#3
DBS Eminent Visa Platinum Card - DBS Bank Hong Kong
The DBS Eminent Visa Platinum Card from DBS Bank Hong Kong ranks third overall in our May 2026 list, offering a total MoneyHero reward value of HK$5,980. Its welcome benefit is an HK$800 Apple Store Gift Card, redeemable across Apple's full product range including iPhones, iPads, accessories, and App Store credit.
DBS Bank Hong Kong is a wholly-owned subsidiary of DBS Group Holdings, one of Southeast Asia's largest banking groups by assets, and is a licensed bank regulated by the HKMA. The card's cashback rate of 2% to 5% is among the more generous structures in Hong Kong's mid-tier credit card market, with the higher 5% rate applying to key spending categories including dining, online shopping, and overseas expenditure.
The Visa Platinum network provides near-universal merchant acceptance globally and within Hong Kong, including at government payment portals and public transport top-up facilities. DBS Bank Hong Kong is also a recognised primary or supplementary bank for the MPF scheme, adding to its comprehensive retail banking proposition for HK residents.
PROS: HK$800 Apple Store Gift Card provides broad redemption flexibility across hardware, accessories, and digital content; 2% base cashback rate is above the market average for general spend at this income tier; up to 5% cashback on priority categories delivers meaningful monthly return for targeted spenders; DBS Group's strong financial standing and HKMA oversight provide institutional reliability; Visa network ensures near-universal acceptance in Hong Kong and across more than 200 countries; first-year annual fee waiver reduces the initial cost of holding the card.
Key Metrics
Welcome bonus::HK$800 Apple Store Gift CardTotal MoneyHero reward value::HK$5,980Cashback rate::2% to 5% on qualifying categories+2 more
Eligibility
Applicant must be a new DBS Bank Hong Kong credit card customer, defined as not holding any active DBS credit card in Hong Kong at the time of application. Minimum annual income of HK$150,000 is strictly required. Required documents include a valid HKID and proof of income such as the most recent one month payslip or the most recent tax assessment notice. Application is available online via the DBS website or the DBS digibank mobile app. CONS: The HK$150,000 annual income threshold excludes lower-income applicants, entry-level workers, and many part-time employees
the HK$800 Apple Gift Card welcome bonus, while practical, is the same value as several competitor cards in this comparison at a lower reward tier
the 5% cashback rate is category-specific and likely subject to a monthly spending cap
the HK$5,980 total reward value includes projected ongoing cashback benefits accumulated over an extended period beyond the welcome offer window
existing DBS Bank Hong Kong credit cardholders are not eligible for the new customer welcome bonus. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying
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#4
Standard Chartered Smart Credit Card - Standard Chartered Bank Hong Kong
The Standard Chartered Smart Credit Card ties with the DBS Eminent at HK$5,980 total MoneyHero reward value for May 2026 and ranks fourth in our list. Its key differentiator is an accessible income requirement of just HK$96,000 per annum, meaningfully lower than many competitors at this reward value tier.
Standard Chartered Bank Hong Kong is one of the two major international banks with a primary banking licence issued by the HKMA, operating in Hong Kong since 1859, making it one of the most established banking institutions in the city. The HK$800 HKTVmall e-Gift Voucher welcome bonus is redeemable across Hong Kong's largest and most comprehensive online marketplace, covering categories from fresh groceries and packaged food to electronics, home appliances, baby products, beauty, and fashion, making it one of the most broadly practical welcome gift formats available.
This broad utility compares favourably to single-retailer gift cards. PROS: The lowest annual income requirement among cards delivering HK$5,000 or above in total reward value in this May 2026 comparison, making it accessible to a wider salary range including junior professionals and skilled tradespeople; HKTVmall voucher covers diverse daily spending categories from fresh food to electronics across one of Hong Kong's most popular e-commerce platforms; Standard Chartered's 160-year HK presence and HKMA oversight provide strong institutional confidence; 5% cashback rate is competitive on priority spending categories; well-established card rewards infrastructure with clear online statement management.
Key Metrics
Welcome bonus::HK$800 HKTVmall e-Gift VoucherTotal MoneyHero reward value::HK$5,980Cashback rate::0.5% to 5% on qualifying categories+2 more
Eligibility
Must be a new Standard Chartered credit card customer with no active Standard Chartered credit card in Hong Kong at the time of application. Minimum annual income of HK$96,000 is required. Required documents include a valid HKID and income proof such as the most recent one month payslip, latest bank statement showing salary credit, or most recent tax demand note. Online application available on the Standard Chartered website or at any Standard Chartered branch in Hong Kong. CONS: The base cashback rate of 0.5% on general non-bonus spend is the lowest in this comparison, which penalises cardholders who spend broadly outside bonus categories
the 5% rate is restricted to specific online merchant categories and is likely subject to a monthly cap
the HKTVmall voucher is platform-restricted and cannot be used at physical retail stores not connected to the HKTVmall network
welcome bonus conditions may include a minimum spend threshold within the first 60 to 90 days of card opening
total HK$5,980 reward value includes projected long-term cashback benefits, not a single one-time payment. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying
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#5
Hang Seng MMPOWER World Mastercard - Hang Seng Bank
The Hang Seng MMPOWER World Mastercard from Hang Seng Bank is distinguished in this comparison by offering the most genuinely liquid welcome bonus in cash format: HK$1,000 deposited directly via FPS. Unlike gift cards tied to specific retailers or physical gifts requiring collection, FPS cash credit is immediately spendable at any merchant, for any purpose, including bill payments and transfers, making it the most consumer-friendly welcome format for everyday utility.
Hang Seng Bank is a member of the HSBC Group and one of Hong Kong's five note-issuing banks listed on HKEX, with more than six decades of retail banking history in the city and one of the most extensive branch and ATM networks in Hong Kong. The card's proprietary rewards currency, +FUN Dollars, earns at up to 8% on qualifying transactions and can be redeemed as statement credit, delivering effective cashback at a high ceiling rate.
The World Mastercard tier provides additional global travel and lifestyle benefits compared to standard Mastercard tiers. PROS: HK$1,000 FPS cash rebate is fully fungible and unrestricted, credited directly as spendable cash to any FPS-linked account with no platform or merchant limitations; the HK$1,000 welcome cash bonus is the highest single cash welcome payment in this comparison; up to 8% +FUN Dollars on qualifying spend is a high ceiling cashback rate; World Mastercard benefits include purchase protection and travel accident insurance; Hang Seng's 200 or more ATM and branch locations across Hong Kong provide strong physical accessibility; +FUN Dollars redeemable as statement credit providing genuine ongoing cashback equivalence.
Key Metrics
Welcome bonus::HK$1,000 Cash Rebate via FPS (new credit card customers only, deposited directly to FPS-linked account)Total MoneyHero reward value::HK$5,680Earn rate: Up to:8% in +FUN Dollars on qualifying spend+2 more
Eligibility
Must be a new Hang Seng Bank credit card customer, defined as not holding any active Hang Seng credit card at the time of application. Minimum annual income of HK$150,000 is required. Required documents include a valid HKID and proof of income such as the most recent payslip, tax assessment, or employment letter. Applications are accepted online via the Hang Seng website or Hang Seng Mobile App, or in person at any Hang Seng branch. CONS: The HK$150,000 annual income threshold is relatively high and excludes lower-income applicants and those with irregular income
the maximum 8% +FUN Dollars rate applies only to specific spending categories and is likely subject to a monthly earn cap, limiting maximum achievable cashback
existing Hang Seng credit cardholders are ineligible for the HK$1,000 welcome cash rebate, limiting its appeal for existing Hang Seng banking customers who may already hold another Hang Seng card
the World Mastercard tier does not include Priority Pass lounge access, unlike some competitor premium miles cards in this comparison
total reward value of HK$5,680 incorporates projected long-term card usage. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying
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#6
Standard Chartered Cathay Mastercard - Standard Chartered Bank Hong Kong
The Standard Chartered Cathay Mastercard is the premier co-branded airline credit card between Standard Chartered Bank Hong Kong and Cathay Pacific Airways, Hong Kong's flagship carrier and a founding member of the oneworld airline alliance. Ranking sixth in our May 2026 list, its welcome gift is a Delsey 30-inch GRENELLE SE Expandable Front Opening Suitcase with a retail value of HK$4,980, one of the highest-value physical welcome gifts available in this comparison.
The Delsey GRENELLE SE is a French-designed premium luggage piece featuring expandable main compartment capacity, a front opening pocket for quick access, and a double-wheel spinning system, making it a genuine long-term utility item for frequent travellers. The card earns Asia Miles at a rate of $2 to $6 per mile depending on spending category, with Cathay Pacific and cathay.com purchases, as well as foreign currency transactions, typically earning the highest rates.
Asia Miles are redeemable for Cathay Pacific flights, upgrades, partner hotel stays, and lifestyle rewards, with well-known high value for premium cabin award redemptions on Cathay Pacific and oneworld partner airlines. PROS: Delsey 30-inch suitcase at retail value HK$4,980 is a high-quality, practical, and long-lasting welcome gift especially well suited to HK residents who travel frequently through Hong Kong International Airport; earn rate of up to $6 per Asia Mile on priority categories is among the highest available on a Cathay Pacific co-branded card in the HK market; Standard Chartered and Cathay partnership enables seamless Asia Miles crediting to the cardholder's Marco Polo Club or Asia Miles account with no conversion lag; lower income requirement of HK$96,000 per year makes it accessible relative to many premium miles cards which require HK$240,000 or above; Asia Miles do not expire as long as the card remains active with at least one qualifying transaction per 18-month rolling period.
Key Metrics
Welcome gift: Delsey:30-inch GRENELLE SE Expandable Front Opening Suitcase (retail value HK$4,980)Total MoneyHero reward value::HK$4,980Asia Miles earn rate::$2 to $6 per Asia Mile earned per HKD spent+2 more
Eligibility
Must be a new Standard Chartered credit card customer not currently holding any active Standard Chartered credit card in Hong Kong. Minimum annual income of HK$96,000 required. Required documents include a valid HKID and income proof such as the latest one month payslip or most recent tax demand note. Welcome gift collection or delivery conditions vary and should be confirmed at time of application. Applications available via the Standard Chartered website or at branch. CONS: Welcome gift is a physical suitcase requiring collection or delivery arrangement and offers no cash conversion flexibility for applicants who may not travel regularly
base earn rate of $2 per mile on general HKD local spend is modest for daily non-travel transactions
annual fee typically applies after any initial waiver period and must be weighed against miles earning value
the card is primarily optimised for Cathay Pacific and oneworld redemptions, limiting value for HK residents who primarily use non-oneworld airlines
cashback and non-miles rewards options are limited or absent. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying
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#7
American Express Explorer® Credit Card - American Express Hong Kong
The American Express Explorer Credit Card is a mid-premium miles card from American Express Hong Kong, offering one of the most generous upfront miles welcome bonuses in the May 2026 HK credit card market. The 72,000 miles welcome bonus, equivalent to 1,296,000 Membership Rewards (MR) points per MoneyHero valuation, represents substantial redemption potential for frequent flyers.
To contextualise the value: 72,000 Asia Miles is sufficient for a round-trip economy class redemption between Hong Kong and Tokyo, Sydney, or Dubai, or a one-way Cathay Pacific business class award to certain regional destinations. Membership Rewards points are highly flexible, transferring to 12 or more airline and hotel loyalty programs, typically at a 1:2 MR-to-mile ratio, meaning 1,296,000 MR points yields 648,000 miles when transferred - or significant cashback if redeemed via the Amex statement credit route.
The Explorer card sits below the Platinum tier in the Amex Hong Kong lineup, offering a compelling balance of welcome bonus generosity and a more affordable annual fee than the flagship Platinum. PROS: 72,000 miles welcome bonus is among the largest upfront miles offers available in Hong Kong for May 2026, delivering immediate high perceived value for miles enthusiasts; Membership Rewards points transfer to multiple airline and hotel partners providing superior redemption flexibility compared to co-branded single-airline cards like the Cathay Mastercard; estimated HK$4,870 MoneyHero value materially understates potential yield when MR points are redeemed for premium business or first class cabin awards, where value per mile can exceed HK$0.20 or more; purchase protection and travel accident insurance coverage included; mid-premium annual fee is lower than the Amex Platinum while retaining the full MR points ecosystem.
Key Metrics
Welcome bonus: Up to:72,000 miles (equivalent to 1,296,000 Membership Rewards points)Estimated MoneyHero welcome value::HK$4,870Miles earn rate::$1 per mile equivalent on general HKD spend+2 more
Eligibility
Must be a new American Express credit card customer in Hong Kong, typically meaning no Amex card held or cancelled in the preceding 12 to 24 months. Minimum annual income of HK$300,000 is required, making this the highest income threshold among all 10 products in this comparison. Valid HKID and income proof required. The full 72,000 miles welcome bonus typically requires meeting a minimum spend condition of approximately HK$8,000 to HK$12,000 within the first 3 months of card opening, which must be confirmed with Amex before application. CONS: HK$300,000 annual income requirement is the highest in this entire top 10 list and excludes the majority of Hong Kong wage earners, limiting eligibility to upper-quartile income professionals
a minimum spend condition must be met in the first 3 months to unlock the full bonus, adding a qualifying commitment
American Express merchant acceptance in Hong Kong is narrower than Visa and Mastercard, particularly at smaller restaurants, wet markets, transport-linked payment terminals, and government payment counters
ongoing earn rate of $1 per mile on general spend is modest for everyday purchases outside any bonus earn categories. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying
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#8
HKD Time Deposit New Customer Promotion - ZA Bank
ZA Bank is Hong Kong's largest virtual bank by customer base among the eight HKMA-licensed virtual banking institutions, backed by ZhongAn Online P and C Insurance and Standard Chartered Bank. It has consistently offered some of the most competitive promotional time deposit rates in the HK market for new customers placing new-to-bank funds.
For May 2026, ZA Bank's indicative promotional HKD time deposit rate is in the range of 4.8% to 5.2% p.a. for 1 to 3 month tenors, which is materially above the major traditional bank standard savings rates of 0.001% to 0.5% p.a. and competitive against prevailing HIBOR-linked benchmarks. Deposits are protected by the Hong Kong Deposit Protection Scheme (HKDIC) up to HK$500,000 per depositor, providing the same statutory guarantee as traditional licensed banks.
The entire process is digital: account opening, deposit instruction placement, tenor selection, and maturity reinvestment instructions are all managed within the ZA Bank mobile app without a single branch visit. For a HK$100,000 deposit at 5.0% p.a. over 3 months, a depositor earns approximately HK$1,233 in interest income with zero market risk and no management fee deductions.
Under Hong Kong's current tax framework, interest income for individual depositors is generally not subject to Salaries Tax, enhancing the net return. PROS: Among the highest promotional HKD time deposit rates available in the HK market for new customers in May 2026; fully digital onboarding with no branch visit required, completing HKMA KYC entirely via HKID scan and facial recognition; HKDIC-protected up to HK$500,000 per depositor, providing the same statutory protection as all licensed HK banks; low minimum deposit of HK$10,000 makes it accessible across income levels; FPS-linked maturity settlement enables rapid fund access on the maturity date; transparent rate disclosure with no hidden administration or custodian fees.
Key Metrics
Promotional rate: Up to:4.8% to 5.2% p.a. (indicative for new ZA Bank customers placing HKD new-to-bank funds, 1 to 3 month tenors, May 2026)Minimum deposit::HK$10,000Eligibility: New ZA Bank customers or new-to-bank HKD funds only:+3 more
Eligibility
Must be a new ZA Bank customer OR placing funds that are genuinely new to ZA Bank and not previously held at the bank. HKID required for app-based account opening with liveness face recognition verification. Must be aged 18 or above and eligible for Hong Kong bank account opening under HKMA KYC rules. Standard source-of-funds documentation may be requested for larger deposit amounts per CRS and anti-money laundering regulations. CONS: Promotional rate is strictly new-funds-only, meaning existing ZA Bank customers cannot roll over maturing deposits at the promotional rate and must continuously bring in external funds to qualify
the short 1 to 3 month tenor means the rate is not locked in beyond the promotional period, exposing depositors to potential rate risk at renewal if HIBOR declines further through 2026 on the back of anticipated US Federal Reserve rate cuts
as a virtual bank with no physical branches, complex queries and disputes must be resolved through the app or online channels, which may be inadequate for elderly customers or for large-sum issues requiring face-to-face resolution
the HK$500,000 HKDIC cap means depositors placing amounts above this threshold carry residual counterparty risk on the unprotected portion. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying
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#9
New Funds HKD Time Deposit Promotion - Hang Seng Bank
Hang Seng Bank, a member of the HSBC Group and one of Hong Kong's five note-issuing banks listed on HKEX, consistently runs new-funds time deposit promotions that offer rates well above its standard savings rate. For May 2026, the indicative promotional HKD time deposit rate for qualifying new-to-bank funds at Hang Seng is in the range of 3.8% to 4.3% p.a. for 1 to 3 month tenors.
A critical advantage over virtual bank alternatives is broader eligibility: Hang Seng's new-funds promotions are typically available to both new customers and long-standing existing account holders, provided the deposited funds represent genuinely fresh capital transferred from an external institution via CHATS, FPS, or cheque. This makes it directly relevant to the many HK residents who already hold a Hang Seng account and want to optimise idle cash without switching banks entirely.
For a HK$200,000 new funds deposit at 4.0% p.a. over 3 months, a depositor earns approximately HK$2,000 in interest income with no market risk. Hang Seng's 200-plus ATM network and its integration with the broader HSBC Group platform add operational convenience for existing HSBC Group banking customers.
PROS: Reputable HKMA-regulated major bank with over 60 years of retail banking history in Hong Kong, providing strong institutional confidence for large deposit amounts; HKDIC-protected up to HK$500,000 per depositor with the full weight of a listed, systemically important HK bank; broader eligibility than virtual bank promotions, with both new and existing Hang Seng account holders qualifying when placing genuine new-to-bank funds; multiple application channels including the Hang Seng Mobile App, Personal e-Banking portal, and physical branch network covering the whole of Hong Kong; promotional rate is materially above the standard Hang Seng savings rate of 0.001% p.a.; no placement fees or custodian charges apply to time deposit placement or maturity reinvestment instructions.
Key Metrics
Promotional rate: Up to:3.8% to 4.3% p.a. (indicative for new-to-bank HKD funds, 1 to 3 month tenors, May 2026)Minimum new-to-bank funds deposit::HK$10,000Eligibility: Both new and existing Hang Seng account holders placing new-to-bank HKD funds:+3 more
Eligibility
Must hold or be eligible to open a Hang Seng Bank current or savings account. New accounts can be opened digitally via the Hang Seng Mobile App or at any Hang Seng branch. Deposited funds must be strictly new-to-bank, meaning transferred from an external institution via CHATS, FPS, or bank cheque and not representing funds recently withdrawn from Hang Seng. Minimum qualifying new funds deposit of HK$10,000 applies. Standard HKID and HKMA KYC documentation required. Larger deposits may prompt enhanced due diligence and source-of-funds queries under CRS and FATF requirements. CONS: Promotional rate of 3.8% to 4.3% p.a. is meaningfully lower than virtual bank competitors such as ZA Bank or WeLab Bank, which may offer 4.8% to 5.2% p.a. over the same period for new customers
the new-to-bank funds rule is strictly enforced and monitored, meaning rolling over maturing Hang Seng deposits at the promotional rate is not permitted
promotional terms, minimum deposit thresholds, and qualifying tenors are subject to frequent changes in line with HIBOR movements and the bank's funding needs
without an explicit reinvestment instruction placed before maturity, funds automatically revert to the standard savings rate at maturity, potentially resulting in a significant rate reduction if not proactively managed. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying
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#10
Mox Save New Customer Rate Promotion - Mox Bank
Mox Bank is a virtual bank in Hong Kong licensed by the HKMA and backed by a consortium including Standard Chartered Bank, PCCW, HKT, and Trip.com Group, giving it strong institutional parentage relative to some smaller virtual bank peers. Its flagship deposit product, Mox Save, offers new customers a competitive promotional savings rate indicatively in the range of 4.0% to 4.5% p.a. on eligible balances for May 2026, with no lock-up period and no minimum balance requirement.
This structural distinction from time deposits is the defining advantage of Mox Save: funds remain fully accessible at any time with no early withdrawal penalty, interest accrues daily on the balance, and interest is credited to the account on a monthly basis. This makes Mox Save a genuine alternative to holding idle cash in a standard savings account, functioning more like a high-yield demand deposit than a structured term instrument.
For customers who value liquidity, such as those maintaining an emergency fund, managing irregular cash flow, or bridging between investment decisions, the fully accessible nature of the account adds substantial practical value beyond the headline rate. The linked Mox debit card earns 1% cashback on all purchases, adding a secondary benefit layer for active users who consolidate their daily spending through the Mox ecosystem.
PROS: Full liquidity with no lock-up period and no early withdrawal penalty, unlike 1 to 3 month time deposits; no minimum balance requirement allows even small savers to earn the promotional rate from the first dollar deposited; daily interest accrual with monthly crediting is transparent, compounding-friendly, and easier to track than quarterly or annual crediting structures; HKDIC-protected up to HK$500,000 per depositor; Standard Chartered-backed consortium provides strong institutional credibility underpinning the virtual bank licence; fully digital account opening with HKID and liveness recognition via the Mox app, with no branch visit required; the supplementary 1% debit card cashback on all spending adds meaningful ongoing value beyond the savings rate alone.
Key Metrics
Promotional savings rate: Up to:4.0% to 4.5% p.a. on eligible balances (indicative for new Mox Bank customers, May 2026)Minimum balance for promotional rate::HK$1 (no minimum balance requirement)Account type: Demand deposit savings account, fully liquid with no lock-up period:+4 more
Eligibility
Must be a new Mox Bank customer who has not previously held a Mox Bank account. Application is completed entirely within the Mox mobile app using HKID scan, liveness face recognition, and digital address verification in compliance with HKMA KYC standards. Must be aged 18 or above and a Hong Kong resident or eligible visa holder. There is no minimum income requirement for savings account opening at Mox Bank, making it accessible to students, part-time workers, and retirees as well as salaried professionals. CONS: Virtual bank with no physical branch presence in Hong Kong, meaning all customer service interactions occur through in-app chat or online channels, which may be inadequate for complex disputes or for customers who prefer face-to-face banking support
the promotional savings rate for new customers typically reverts to a lower standard rate after the initial promotional period, commonly 3 to 6 months, reducing the ongoing competitive advantage and requiring customers to regularly reassess alternatives
the 4.0% to 4.5% indicative promotional rate may decline further through 2026 as HIBOR tracks any continued downward adjustment in the US Federal Reserve policy rate
as a relatively newer institution compared to established majors such as HSBC, Hang Seng, or Standard Chartered, some customers may be less comfortable placing large sums above the HK$500,000 HKDIC protection cap. Rates are indicative and subject to change. Always verify current rates directly with the bank before applying
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sim Credit Card - OCBC Bank Hong Kong

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HKD Time Deposit New Customer Promotion - ZA Bank

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New Funds HKD Time Deposit Promotion - Hang Seng Bank

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Mox Save New Customer Rate Promotion - Mox Bank

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