Banking Options
Hong Kong Currency
The currency of Hong Kong is the Hong Kong Dollar (HKD). HKD banknotes are issued in six denominations: HK$10, HK$20, HK$50, HK$100, HK$500 and HK$1,000. The Hong Kong dollar is divided into 100 cents and issued in seven denominations: 10c, 20c, 50c, HK$1, HK$2, HK$5 and HK$10. The Hong Kong dollar has been pegged with the United States dollar since 1983 and as a result, the exchange rate between HKD and USD remains constant at HK$7.80 to US$1.
Banking Options
The banking options for tourists include:
Octopus Card: The Octopus card is a widely used contactless smart card system in Hong Kong, primarily for public transportation but accepted at many retail outlets. It can be used to pay for MTR (Mass Transit Railway) trains, buses, trams, ferries and even some taxis. The card can also be used for small-value purchases at convenience stores and vending machines. Octopus can be chosen of two types:
a. Mobile Octopus: To instantly add Octopus to your iPhone or Huawei mobile phone, just download the Octopus App for Tourists. Utilize your credit or debit card to check your balance and make a payment whenever and wherever you choose on your phone. For Mobile Octopus, there is a refundable $50 deposit. Using the Octopus App for Tourists, you may quickly apply for a refund of the deposit and any remaining value when you're done using the Mobile Octopus.
b. Travel Octopus: A physical card that may be purchased for HK$39 without requiring a deposit. Its distinctive Hong Kong design makes it a perfect souvenir that you can use again when you visit Hong Kong in the future.
Credit Cards: Credit cards are widely accepted in Hong Kong, including major international brands such as Visa, Mastercard, and American Express and they can be used for various transactions, including shopping, dining, and hotel bookings.
Banking Services: Hong Kong has a robust banking system with numerous local and international banks operating in the city offering a wide range of services, including currency exchange, money transfers and ATM facilities.