Financial Matters
Banking Service
Most banks in Hong Kong are open from Monday to Friday and Saturday mornings but are closed on Sundays and public holidays.
Banks in Tuen Mun Town Centre
| Bank | Address |
| Hang Seng Bank | Tuen Mun Town Plaza Branch Shop 28, UG/F, Tuen Mun Town Plaza Phase II, Tuen Mun, New Territories |
| Hong Kong Shanghai Banking Corporation (HSBC) | Tuen Mun Town Plaza Branch Shop 1, UG/F, Tuen Mun Town Plaza Phase II, Tuen Mun, New Territories |
| Standard Chartered | Tuen Mun Branch Shop 21- 23, Level 2, Trend Plaza South Wing, Tuen Mun, New Territories |
| Bank of China | Tuen Mun Town Plaza Branch Shop 2, G/F, Tuen Mun Town Plaza Phase II, Tuen Mun, New Territories |
| The Bank of East Asia | Tuen Mun Town Plaza Branch Shop 2-3, UG/F, Tuen Mun Town Plaza Phase II, Tuen Mun, New Territories |
| Nanyang Commercial Bank (NCB) | Tuen Mun Branch Shop J-L, G/F, Forward Mansion, 26A Yan Ching Circuit, Tuen Mun, New Territories |
| CMB Wing Lung Bank | Tuen Mun Branch |
Opening a 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, provide the following supporting documents:
| 1) Passport / China Resident Identity Card and Exit-Entry Permit for Travelling to and from Hong Kong, China and Macao, China (EEP) (中華人民共和國居民身份證及往來港澳通行證) |
| 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 their 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 located 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 using 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. Payment methods accepted are usually display at the entrance.
Friendly reminder: Cash advance charges may be incurred if students use their credit card to withdraw cash from the ATM.
E-Wallets
E-wallets are one of the most popular electronic payment methods in Hong Kong, which allow users to make payments via a smartphone or computer for both online shopping and in-store transactions. To top up their e-wallet, users can use debit/credit cards, bank accounts or other designated channels such as convenience stores or ATMs.
Note: Alipay and WeChat Pay are accepted at the Canteen and some merchants in Fu Tai Shopping Centre.
| Common E-Wallets in Hong Kong | |
.jpg) | Alipay HK (iOS/Andriod) |
.jpg) | WeChat Pay (iOS/Andriod) |
.jpg) | Octopus (iOS/Andriod) |
.jpg) | Payme (iOS/Andriod) |
Living Expenses
First Month
It is recommended that students prepare a budget of HK$6,200 - $7,500 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:
| Item | Approx. expenses per month (HKD) |
| Meals (on campus) | HK$4,500 - $5,000 |
| Entertainment | HK$600 - $700 |
| Transportation (local) | HK$600 - $800 |
| Miscellaneous | HK$500 - $1,000 |
| Total | HK$6,200 - $7,500 |