ZA is probably the first bank that came in the form of digital banks in Hong kong. It is supported by Mainland Capital and holds 3, 00,000 users, as of now. Along with it, ZA is used for multipurpose: transacting money, taking loans, deposits, etc. Not only this, ZA is conglomerated with ZhongAn Online and Best Group, which is the Internet Company from mainland China. Here is a complete ZA bank Analysis.

As per the ZA’s Pilot plan, you could open a bank account with the help of an invitation only. Users can also get a satisfactory 6% interest on the deposit of three months.

Also, it supports three currencies: HKD, USD, and CNY.

In 2021, the Hong Kong Insurance Authority received an Insurance Agency License. By doing so, it became the first-ever digital bank to get the license.

What is so attractive about ZA Bank?

Because it was the first to receive a license from Hong Kong Insurance Authority, it became the ‘Apple of the eye’ for people living in Hong Kong. Also, its 1% high-interest rate is the protagonist of its being on the top in the list of digital banks in Hong Kong.

Here are some quick Good and Bad things about ZA.

Pros & Cons



With ZA, you would be off from a few perks:

How to open a Personal ZA Bank account?

With everything being said, it’s important to discuss how you can open your ZA bank account. For that, you would be doing what’s given down below:

Initially, it’s worth talking about the eligibility to avoid hindrance during the application of the points.

To get your ZA account opened, you need to:

Now comes the steps to open an account.

How to open a ZA Bank business account?

Both personal and business account setup is different and so it’s required to discuss here.

As soon as you get deposited your details you will be connected with the relationship manager who will then be collecting and checking your details. After that, it would take almost a week to help you know what exactly happened.

ZA Card

ZA Card, like a cash app card, is a debit card with no fees at all. Also, you are getting choices to choose the last 6 numbers of your card and whether you want CVV, signature, and other details printed on your card or not.

Along with it, your card is free to be used at various ATMs and the maximum limit to withdraw is 3000.

You get additional benefits like freezing card activities right from your ZA app.

ZA Money Transfer

Money transfer in Hong Kong is sometimes a hectic practice, but thanks to ZA which makes it quick and safe among other users.

For those who are not aware, ZA transfers funds via FPS which is needed your mobile number, email, or QR code, which will transfer only CNY and HKD.

But for the USD transfer, you should move to the “Chat” on the ZA app.

Is my money safe with ZA Bank?

To be aware of ZA’s security, it is necessary to know that ZA is a member of the deposit protection scheme. The Deposit Protection Scheme (DPS) protects the Hong Kong dollar, and other currencies for up to HK$500,000 per depositor.

Who owns ZA Bank?

It was a collective effort of three giants: CITIC Bank, Sinolink, and Zhong An Online. These three were conglomerated to get the digital banking license for ZA bank in 2018.

We can say that ZA came from Zhong An Online, which is a Chinese insurance company.


With everything coming positive, it’s obvious to have great competitors. We have shortlisted a few serious competitors standing parallel to the ZA.

Airstar Bank

Walking parallel, Airstar is the second digital bank getting the license of digital-only banks, after the ZA. It is particularly known for its high-interest savings with 3.6 for the first HKD 20,000.

There is no extra fee asked and the FPS transfers required no early fees for the HKD and other currencies.

Airstar is conglomerated with Xiaomi Corporation and other such big giants doing extremely well in Asia’s financial services.

Ant Bank

Ant Bank is part of the Ant group, conglomerated with Alibaba, one of the leading corporations in China. It provides benefits like quick account opening and an annual interest rate of up to 2% for the first HKD 20,000.

It is quite easy to FPS transfer from here and needs nothing extra but your email address, mobile number, and bank account.

Summing Up!

ZA bank Analysis: ZA is the wisest choice that a Hong Kong living person would ever make. Being it got the first digital bank license, it has developed through time as per the requirements of its users.

Whenever we talk about Hong Kong’s best virtual banks, ZA stands out from the crowd because of its amazing features, higher interest rates, transaction security, 11% rebate, etc.