Best Current Accounts in Hong Kong 2023

With a current account, you can manage your day-to-day spending and income. It does not only enable you to store, withdraw, transfer and receive funds but also pay bills and issue cheques for your daily payments. You can get a current account from any bank as long as the requirements for opening an account are met.

This article will cover everything you need to know about current account including what it is, its key features, the differences between current account and savings account, and current account recommendations. For those who would like to open a current account in Hong Kong, read on!

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What is a current account?

A current account is a type of bank account that helps you manage your finances as it allows you to perform everyday banking activities. It is called a current account as the funds it holds is typically used ‘currently’. A current account usually comes with a debit card, which is really useful when it comes to withdrawing cash from a cash machine, or to make payments. You typically also have access to free check books, online banking and the mobile banking app, as well as 24-hour telephone services and branch banking. Some common uses for a current account are listed below:

  • Receiving your wages
  • Paying bills
  • Online shopping
  • Direct Debits
  • Everyday purchases

Also, some current accounts come with an overdraft, which allows you to spend more money than what is available in your account and you’ll need to repay with possibly an interest added on top, depending on the types of current accounts you hold.

Current account features

Manage your everyday banking activities

You can make use of your current account to receive your salary and make payments, which helps you manage your finances easily.

Make payments easy

With a current account, you can set up Direct Debits or standing orders to make payments on a regular basis. Your current account usually includes a debit card for withdrawing money and making payments. You can also see your balance and also make payments and transfers with online banking.

Access your cash easily

With a network of cash machines, you can easily access your money from your current account. It is free of charge to withdraw money from most of ATMs in Hong Kong.

Current account vs Savings account

Current account vs Savings accountCurrent accountSavings account
  • Everyday purchases
  • Write cheques
  • Receive payment directly
  • Transfer money
Saving money
No. of transactionsUnlimitedLimited
Required balanceHigherLower
Suitable forManaging day-to-day transactionsEarning interests

Best current accounts 2023

Current accountInterest rate as high asMinimum initial deposit
Citi Plus Account0.3% p.a.HK$0
WeLab Bank Core Account0.1% p.a.HK$0
ZA Bank Savings Account0.31% p.a.HK$0
Citigold Account4.88% p.a.HK$1,500,000

Savings account recommendations

MoneySmart Exclusive
MoneySmart Exclusive

Citi Plus Account

Min. Rate
1.17% p.a.
Max. Rate
2.67% p.a.
Min. Initial Deposit
【Extended offer!】From now until 30 September 2023, new customers who successfully open a Citi Plus banking account via MoneySmart and fund HK$50,000, can earn a total of HK$600 Cash Rebate and a Free Single Travel Insurance Plan (7 days) from Citibank!

Citi Plus Rewards for Everyone Lucky Draw:
Rewards for everyone! Simply by opening a Citi Plus account now and funding-in to get the chance to win Klook HK$5,000 Gift Card! You will still be entitled to HK$200 cash rebate even if you don’t win the lucky draw!
Valid until 30 Sep 2023
Bank Promo
Min. Rate
Saving Rate
Minimum Initial Deposit
Bank Promo:
【 Deposits Flash Offer 】New customers who apply for Mox account with the invitation code "MOXREWARDS" from now until 30 September 2023, maintain at least HK$50,000 HKD Savings Account Balance for 60 days starting from the 7th day after Joining Day, and you’ll be rewarded with an extra HK$600 Cash Reward (7.3% p.a saving rate)! Combinate with 0.3% base rate & 3.2% Welcome Bonus, you can earn up to 10.8% p.a. savings rate at your first 60 days of account opening!

From now until 30 September 2023, simply open a Mox Account with the invitation code "MOXREWARDS" and apply for Mox Credit, you can get HK$800 Cash Rewards by accumulating HK$800 in eligible transactions with Mox Credit within the first 30 days of your Mox Credit approval! 

From now until 30 September, new customers who successfully join Mox and register Mox as your default receiving bank for your FPS transfers can enjoy a Welcome Bonus of 3.2% p.a. savings rate and basic 0.3% p.a. saving rate on your savings deposits of up to HK$250,000 for the first 60 days, total 3.5% p.a. saving rate!

Besides, Mox new and existing customers complete Mox Bonus from August to September, earn extra 2.7% p.a. saving rate on up to HKD500,000 deposits!

From now until 31 October 2023, spend with Mox Credit to enjoy 3% CashBack at Mox CashBack Merchants, with cap of up to HK$450 cash reward! 1% Unlimited CashBack everywhere else!
Valid until 30 Sep 2023
Bank Promo
Foreign Currency Time Deposit Interest Rate
up to 6%
Highest Cash Rebate
Bank Promo:
Open a Citigold account via your mobile to earn up to HK$48,800 cash rebate!
Valid until 30 Sep 2023


What is a current account?

Current accounts are used for everyday banking activities including paying bills, purchases and receiving salary, etc.

Who needs a current account?

Anyone who performs everyday banking activities will benefit from having a current account.

Is there a minimum opening balance required for opening a current account?

Yes, It usually requires a minimum opening balance of a few thousand dollars.

What is the difference between a savings account and a current account?

The main difference between a savings account and a current account is that a savings account is for saving purposes while a current account is for your everyday transactions.