For bank accounts, there is no standard answer as to which one is better. It all depends on what works for you.

Remember if you are looking for ways to transfer money between Hong Kong and the UK, we have a deal with Transferwise that allows you to transfer up to £500 for free.

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Price comparison sites

We suggest going to comparison sites, such as Go Compare. You can compare current offers according to the type of bank account you need.

Watch out for yearly fees and whether the banks are reputable. Once you picked a bank according to the comparison site’s results, visit the bank’s own website to see what additional offers they give to new customers.

HSBC

You can also apply for an HSBC UK account via your HK branch, though the waiting list is very long. What we like about linking the HSBC accounts is that when you transfer HKD to GBP or vice versa, they only charge the exchange rate, with no additional handle fee.

Lloyds

We also heard that Lloyds is a good choice for Hong Kongers because they will let you open an account with less proof of address than others, and with a Hong Kong passport.

Monzo

We heard from a lot of Hong Kongers it is not really a bank account. More like Octopus card where you add money from another account. But you can only add £100, so not much use.

_{Image: Jan Antonin Kolar on Unsplash}