Subsite Background

Financial Matters

Banking Service


Opening Bank Account

It is recommended that non-local students have a local bank account during their stay in Hong Kong, which can be easily arranged at any local bank.  To open an account, students should book an appointment with the bank, complete and submit an application form to the bank together with the following supporting documents:

1) Passport / Chinese Travel Permit and China Identity Card (中華人民共和國往來港澳通行證及中國身份證)
2) Hong Kong ID Card
3) Letter of Admission
4) Lingnan University Student ID Card
5) Proof of address in Hong Kong (Students residing in the student hostel should contact the Office of Student Affairs to get the hostel address after your arrival)
6) Proof of permanent address in the home country within the past three months (e.g.  letter of admission with home address, bank statement in English/ Chinese or utility bills in English/ Chinese issued in the last three months or latest driving license (with photo and address) in English/ Chinese)
7) Contact phone number in Hong Kong and e-mail address

*Students under 18 must be accompanied by their parent or legal guardian to open a bank account.



Automated Teller Machine (ATM)

Automated Teller Machines (ATMs) providing 24-hour cash withdrawal services can be easily found in Hong Kong such as MTR stations and large shopping malls.  The nearest ATMs are available at the Fu Tai Shopping Centre which provides cash withdrawal services and accepts ATM cards from the following networks: PLUS, UnionPay, Cirrus, VISA, JETCO and MasterCard.  Students can use their home bank ATM cards to withdraw Hong Kong dollars.  However, the home bank may charge a transaction fee for using the ATM card overseas.  There is no cash withdrawal fee when using local bank ATM cards.  Students may transfer money from their home country, withdraw cash from their home bank's ATM and deposit the money into their local bank account.



Credit Cards

Students may apply for a local credit card at any bank in Hong Kong.  Most shops and restaurants in Hong Kong accept VISA and MasterCard, while some will accept UnionPay Cards.  You can usually find signs at the entrance of shops indicating the types of cards they accept.

Friendly reminder: Cash advance charges may be incurred if students use their credit card to withdraw cash from the ATM.




E-wallets are one of the most popular electronic payment methods in Hong Kong, which allow users to use a smartphone or a computer to shop online or transact at physical stores.  To add value to their e-wallet, users can use debit/credit cards, bank accounts or other designated channels such as convenience stores or automatic teller machines.

*Alipay and WeChat Pay are accepted by the Canteen and some merchants in Fu Tai Shopping Centre.  


Common E-Wallets in Hong Kong
GovHK AppsAlipay (iOS/Andriod)
GovHK AppsWeChat Pay (iOS/Andriod)
HK Immigration Department AppTap & Go (iOS/Andriod)
GovHK NotificationsOctopus (iOS/Andriod)
EventHKPayme (iOS/Andriod)



Living Expenses

First Month

It is recommended that students prepare a budget of HK$4,500 - $5,000 to cover their first month's expenses.


Estimated Monthly Expenses

The estimated monthly expenses may vary depending on individual lifestyle and spending habits.  The following table is provided for general reference only:

ItemApprox.  expenses per month (HKD)
Meals (on campus)HK$4,500 - $5,000
EntertainmentHK$600 - $700
Transportation (local)HK$600 - $800
MiscellaneousHK$500 - $1,000
TotalHK$6,200 - $7,500