Revolut is an e-money institution platform that provides a wide range of banking and financial services through its mobile app and web platform. Launched in 2015, Revolut initially started as a service for managing multiple currencies but has since grown into a comprehensive financial platform used by millions of people globally.
Moreover, one of Revolut’s main features is its multi-currency accounts, which allow users to hold, exchange, and spend in various currencies at competitive exchange rates. This service is particularly popular among frequent travelers and those who need to manage money across different countries.
Beyond traditional banking services, Revolut also enables users to engage in cryptocurrency trading, stocks and comodities directly within the app.
In this article, we will uncover Revolut’ availability and expansion plans in Hong Kong, as well as provide alternative solutions.
Is Revolut available in Hong Kong?
Unfortunately, Revolut is not yet available in Hong Kong and it’s currently available in 35 countries. According to their website, Revolut “You can open a Revolut account if you live in a country or overseas territory listed below: Australia, Brazil, European Economic Area (EEA), Japan, New Zealand, Singapore, Switzerland, United Kingdom and United States”.
As the world of digital banking evolves, Hong Kong residents looking for sophisticated and user-friendly banking platforms have a variety of options. Revolut has gained popularity in over 35 countries for its innovative features, transparent operations, and a strong commitment to social and environmental responsibility. However, Revolut is not available in Hong Kong.
This article explores the best Revolut alternatives accessible to Hong Kong residents who wish to benefit from innovative digital banking services. We will look at the best neobanks and fintech platforms that cater to the unique needs and preferences of Hong Kong users, offering features such as low fees, seamless transactions, and comprehensive mobile banking solutions.
Whether you are a seasoned user or just getting started, keep reading to learn about the best options for managing your finances efficiently.
If you would like to read our full review of Revolut just click here!
Revolut Alternatives in Hong Kong
In this section, we will be discussing 3 alternatives that share comparable features with Revolut in Hong Kong:
- Wise
- Mox
- Livi Bank
Wise
Wise, formerly known as TransferWise, is a leading fintech company that has evolved into a neobank, primarily focused on providing international money transfers and multi-currency account services.
Initially founded in 2011, Wise was created to address the high fees and markups associated with traditional foreign exchange services. Today, it offers customers the ability to hold, convert, and manage funds in over 40 currencies through its multi-currency accounts, making it an ideal choice for individuals and businesses dealing with cross-border transactions.
Likewise, Wise has gained a reputation for its user-friendly mobile app, efficient international transactions, and commitment to cost transparency, positioning itself as one of the most trusted names in cross-border financial services.
However, if you still have doubts about Wise being the right fit for you, just click here and find out more!
Mox
Mox is a fully digital bank based in Hong Kong, established to deliver a modern, intuitive, and seamless banking experience through its mobile-first platform.
Created by Standard Chartered in partnership with PCCW, HKT, and Trip.com, Mox offers a full range of banking services designed to meet the needs of today’s digitally savvy consumers.
Overall, by providing a fully digital, secure, and user-friendly platform, Mox is transforming how people manage their money in Hong Kong, making banking more accessible, flexible, and transparent.
However, if you still have doubts about Mox being the right fit for you, just click here and find out more!
Livi Bank
Livi Bank is a virtual bank in Hong Kong designed to offer a fully digital and customer-centric banking experience.
As one of the new virtual banks licensed by the Hong Kong Monetary Authority, Livi Bank aims to revolutionize traditional banking by providing an innovative and seamless financial platform that is accessible anytime, anywhere.
Overall, designed for the digital age, Livi Bank combines cutting-edge technology with a customer-first approach, positioning itself as a forward-thinking player in Hong Kong’s banking landscape.
However, if you still have doubts about Livi Bank being the right fit for you, just click here and find out more!
Final Thoughts
Although Revolut is not accessible in Hong Kong, there are still plenty of other options available to assist people in achieving their financial objectives. There are local and global solutions available, each catering to a different desire and set of financial goals.
Having said so, always remember that choosing the best digital bank depends on your personal goals and financial situation, so it’s essential to stay informed about the latest developments and explore the ever-expanding range of financial tools available.
We hope we helped you in your search for the Best Alternatives for Revolut in Hong Kong.
Why use a digital bank?
Affordable fees and attractive pricing
With their digital-first approach and reduced operating costs, neobanks often offer highly competitive fees compared to traditional banks. Many neobanks minimize or eliminate fees for services like account maintenance and transactions, and some even provide enhanced interest rates on savings and loans. This cost-efficiency appeals to individuals and businesses focused on maximizing financial value without the typical expenses of traditional banking.
Quick account setup and hassle-free onboarding
Opening an account with a traditional bank is often a slow, paperwork-heavy process. Neobanks streamline this experience by using technology to offer a quick, fully online onboarding. Some even provide instant approval, allowing users to start banking within minutes. This efficiency and ease make neobanks an attractive option for people who want fast, paperless access to financial services.
Intuitive design for easy navigation
Advanced budgeting and financial tracking tools
Neobanks often come equipped with advanced financial tools built right into their apps, giving users insights into spending patterns, budgeting help, and real-time transaction categorization. For businesses, this translates into improved financial control and clear visibility over cash flow. With features like expense tracking and financial analysis, neobanks empower individuals and businesses to make informed, data-driven financial decisions, setting them apart with their strong focus on financial management.
Responsive support and community involvement
Neobanks focus on customer satisfaction with quick, accessible support through multiple channels like in-app chat, email, and even social media. Traditional banks can sometimes have slower, more bureaucratic service, but neobanks use technology to deliver faster, more tailored responses. Many also build a sense of community through online forums and events where users can exchange tips and insights, fostering a collaborative approach to banking.
