Best Current Accounts in Hong Kong 2024

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.

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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


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.