The Hong Kong dollar (HK$) is an internationally recognised currency, separate from China’s own currency.

Major HK$ notes are: $100, $500 and $1,000 and; lesser HK$ notes are: $10, $20, $50.

Coins issued are 10 cents, 20 cents, 50 cents, HK$1, HK$2, HK$5 and HK$10.

Exchange Rate

The exchange rate of the Hong Kong dollar is “pegged” to the U.S Dollar. HK7.8 to the US$1. For an accurate exchange rate, see ask your nearest bank.

General Bank Information

Check your banks ATM machine for bill payment options. Most utilities and Government services can be paid through an ATM machine.

• The Hong Kong and Shanghai Banking Corporation Limited (HSBC)
  Tel: 2233 3000
  Website: www.hsbc.com.hk

• Standard Chartered Bank (Hong Kong)
  Tel: 2820 3333
  Website: www.standardchartered.com.hk

• Hang Seng Bank Limited
  Tel: 2198 1111
  Website: www.hangseng.com

• Citibank
  Tel: 2868 8888
  Website: www.citibank.com.hk

In most cases, to open a bank account, you need to arrive prepared with:

• Hong Kong identification card or
• Passport, if you provide a passport you will need to bring along a second type of identification such as a driving license.
• Some banks will require previous bank statement showing your address in your home country.
• You may also be required to provide a letter from your employer that verifies proof of employment and your income.
• It will be necessary to sign the forms in the presence of a bank employee.
• Normally there is usually a minimum initial deposit.

If you are setting up an account with an American-affiliated bank using your U.S. passport, they will also require that you provide your social security number. All interest income will be reported to the U.S. Internal Revenue Service.

Setting up a checking account can take a while and several weeks to receive your chequebook for your checking account (called a “current account” in Hong Kong). Therefore, we would recommend that you attend to this while you are house hunting in Hong Kong.

Opening Hours

Regular banking business hours vary depending on the bank, but are generally 9:30 a.m. to 5:00 p.m. Monday through Friday, and 9:30 a.m. to 12:30 p.m. on Saturday.