2025-12-10 04:01:12

Recently, a news went viral on social media: "Wise is open to mainland users to apply for Hong Kong accounts!" Many people are excited to think that they can finally get a Hong Kong bank card. But calm down - there's a huge misunderstanding.

Let's start with the conclusion: Wise did launch a new business in Hong Kong, but it is not a bank at all, and it is not a "Hong Kong bank account" for you. What is it suitable for? Cross-border receipts and payments. Want to use it as a local bank card in Hong Kong? Then you may be disappointed.

How is the news spread crookedly? **

Look back at the timeline and you'll understand. On March 4, 2025, Wise officially announced the launch of a Business multi-currency account for local SMEs in Hong Kong, which can process receipts and payments in multiple currencies, including Hong Kong dollars. This was originally a B-end product, serving local enterprises in Hong Kong.

The result? The message was condensed into one sentence during the dissemination: "Wise opens up mainland users to apply for Hong Kong accounts. Then many people came up with an equation: Hong Kong account = Hong Kong bank account = Hong Kong bank card.

That's the problem.

Why is this misleading? **

Wise is positioned not as a bank at all. It is a regulated payment institution and electronic money issuer, with electronic money licenses and payment licenses around the world, but in terms of legal attributes, it is completely different from traditional banks such as HSBC and Standard Chartered.

The "account" you get through Wise should be called an "e-wallet" or "virtual account". It can generate collection information for you in different regions ( such as the ) of Hong Kong dollar collection accounts, which is convenient for you to transfer and exchange money across borders, but the corresponding clearing paths and fund custody methods behind these accounts are far from the logic of real bank account operation.

What scenarios are they suitable for? **

If your needs are:
- Receiving payments from overseas customers
- Cross-border e-commerce collection
- Currency exchange and transfer, reducing handling fees

That Wise is a good fit. Transparent rates and exchange rates close to the mid-market are a good tool for cross-border freelancers and small and micro businesses.

But if you are counting on using it:
- Spend money locally in Hong Kong
- Handling loans, wealth management and other banking services
- A companion account as proof of Hong Kong identity

That's too much to think about.

Don't let the four words "Hong Kong account" cloud your judgment. Find out what exactly you need before deciding if Wise is your thing.

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MetaverseHomeless

· 2025-12-12 13:43

Another clickbait headline, just to grab attention, so annoying --- Wise is just a payment tool, yet they insist on calling it a Hong Kong bank account, their imagination is incredible --- Basically a virtual account, don’t expect it to function as a real bank card --- Cross-border payments are fine, but don’t expect to use it for local Hong Kong transactions --- This wave of promotion indeed fooled people, is this another opportunity to get cut? --- An electronic wallet is just an electronic wallet, why does it have to be called a bank account? --- Good for freelancers, but really not useful for other purposes --- Understand your needs before jumping in, don’t be fooled by four words --- Currency exchange is cheaper, but don’t ask me to lend you money

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WalletInspector

· 2025-12-10 08:12

It's this kind of title party again, a group of people are excited without looking at the details, and it turns out that they blame the platform for being deceived Wise is an e-wallet, how can it still be used as a bank card, don't you deserve it? Cross-border payments are really good, but don't expect it to be a subs服装ed replacement for a real Hong Kong account If this wave of rumors is really believed, how many people will have to work in vain Information dissemination is like this, a sentence can be spread beyond recognition Wise is quite practical for freelancers, and the key is to know what you want Hong Kong account？ Oh, it's just an e-wallet, don't think about it Another financial product that was made up by netizens, which is also amazing Wise is fine, the problem is that people are too greedy Cross-border collection is good with Wise, don't think about other functions

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ser_we_are_ngmi

· 2025-12-10 04:30

Another wave of expected management of cuts, Wise is a foreign exchange tool, don't think too much

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MetaverseHermit

· 2025-12-10 04:30

It's this kind of headline party again, I'm so angry, I've long said that Wise is not a bank The routine of earning the price difference, cross-exchange is okay, don't think about using it as a Hong Kong card I knew it would be like this, and the information chain would change its taste Wise is like this, there is no problem in engaging in cross-border, and if you really want a Hong Kong account, forget it Here is another one, the virtual account and the bank account are far apart

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LightningPacketLoss

· 2025-12-10 04:27

Another hot spot that has been pitted by marketing accounts, Wise is a payment tool, how can it still be blown as a Hong Kong bank card

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SignatureCollector

· 2025-12-10 04:17

It's this kind of rotten news again, it's really speechless. Wise is a payment tool, and it has to be blown as a Hong Kong bank card, who will save the quality of public opinion. Cross-border collection is a bit useful, if you want to use it as a local card, wash and sleep. A bunch of people's brains are invincible. Looking at this set of propaganda, you can see how many people are going to be cut leeks. Obviously, an e-wallet must be called a bank account. In fact, to put it bluntly, it's a virtual account, don't be fooled by the name. It's okay for cross-border people, don't think too much about other things. The rumors on the Internet are like this, and in the end, they are unrecognizable. Wise is not difficult to understand, and it has to be so complicated. I don't understand why I have to put it on my bank card. An e-wallet is an e-wallet, why do you have to deceive yourself? This wave of operations is indeed outrageous, but it is not to blame Wise, it is purely the information gap that has been exploited.

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SellTheBounce

· 2025-12-10 04:08

Another wave of information gap cutting leeks tricks, it's not surprising.

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PositionPhobia

· 2025-12-10 04:04

It's this kind of headline party again, Wise is not a bank at all, just an e-wallet, don't be fooled. Really, this way of disseminating information is outrageous, Hong Kong accounts ≠ bank cards, and you will be excited to figure it out. Cross-border collection can indeed be used, but friends who want to swipe their cards can take a break, not this thing. Wise's positioning is like this, the payment institution is not a bank, don't benchmark HSBC Standard Chartered, there is no comparison. So, many people don't understand what they need at all, so they are kidnapped and judged by these four words "Hong Kong account". Is a virtual account enough? Look at the scene, it's good to do e-commerce collection, but don't treat it as a real Hong Kong bank account. The title party kills people, everyone, calm down and watch it again.

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