Concept
Airstar Bank has traded as EleBank (象象銀行) since April 2026; the HKMA register lists the entity as Ele Bank Limited. Same bank, same licence — this page uses the old name only for events that predate the change. EleBank is one of Hong Kong's eight digital banks: branchless retail banks that the HKMA began licensing in 2019 and formally renamed from 'virtual banks' to 'digital banks' in October 2024. It received its licence on 9 May 2019 and opened to the public in June 2020 as Hong Kong's second virtual bank. It was founded as a venture between Xiaomi and AMTD Group, with Xiaomi holding the controlling stake at the time. Deposits are covered by the Hong Kong Deposit Protection Scheme up to HK$800,000, the same protection that applies at any licensed bank in the city.
Two things set the bank apart among the eight digital banks. It has consistently offered one of the highest rates on 12-month HKD term deposits: 3.15% with no minimum on 3 August 2026, top of the digital-bank table on that date. Term-deposit rates here are promotional and move with the market, so read any figure with its date and check the bank's live rate page before deciding. It was also the first Hong Kong virtual bank to run 24-hour FX dealing in HKD, USD and CNY — a service it launched on 27 April 2021 — which matters for clients working the mainland-China corridor outside normal banking hours. The bank serves both corporate and individual clients, with zero fees on most retail operations and no monthly maintenance charge or minimum balance.
Ownership: from Xiaomi and AMTD to Futu control
The bank started as a venture between Xiaomi and the Hong Kong investment firm AMTD Group, with Xiaomi as the controlling owner. The cap table changed in June 2024, when the brokerage group Futu Holdings put HK$440 million into Gravitation Fintech HK, the bank's parent company, and became the second-largest beneficial owner with an indirect stake of 44.11%. Control then changed hands in September 2025: a further HK$500 million injection took Futu to roughly 68.4% and diluted Xiaomi to roughly 28.4%, making Futu the controlling shareholder in place of Xiaomi. AMTD, once the co-founder, has been diluted to a minority. The April 2026 rename to EleBank belongs to the same shift — the bank is being steered toward wealth and investing products.
Regulation and deposit protection
The bank holds a full banking licence and is supervised by the HKMA on the same prudential terms as any other licensed bank in Hong Kong; the practical difference is that it has no branches. The HKMA published its consultation conclusions on the renaming on 14 October 2024 — 26 submissions, broad support for 'Digital Bank' — and on 25 October 2024 reissued the authorization guideline as the 'Guideline on Authorization of Digital Banks', retiring the label 'virtual bank'. Deposits sit under the Hong Kong Deposit Protection Scheme up to HK$800,000 per depositor, a ceiling lifted from HK$500,000 on 1 October 2024, with a second phase of scheme enhancements in force from 1 January 2025. For anyone deciding where to open an account in Hong Kong, the rulebook and the protection match a high-street bank, and the trade-off is service through an app instead of a counter.
Use cases
Corporate account for a Hong Kong company, opened fast. The bank advertises corporate account opening “as fast as 48 hours”, with actual time depending on the case. On fees it publishes “no account management fees” and “no minimum balance requirement” for the multi-currency corporate savings account; we could not find a published corporate account-opening fee schedule on the bank's site, so ask for the current tariff in writing before you commit and treat any range quoted elsewhere as unverified. The account targets small and medium-sized businesses and comes with a payment dashboard, expense tracking, cards and employee payouts. Its direct rivals are the business accounts at ZA Bank and livi.
Term deposits in HKD, USD and CNY. The headline product is the 12-month HKD deposit, which has sat near the top of the digital-bank table — 3.15% with no minimum as at 3 August 2026; rates are promotional and change. Time deposits are offered in HKD, USD and CNY only, which suits companies that settle with the mainland and want to park idle cash at a yield.
Transfers to mainland China and round-the-clock FX. The bank launched 24-hour FX in HKD, USD and CNY on 27 April 2021, describing itself then as the first Hong Kong virtual bank to do so, and clients can deal outside the hours of traditional banks.
For individuals, Xiaomi-ecosystem perks (cashback on Xiaomi purchases and similar privileges) were part of the older retail pitch. We could not confirm them as current: Xiaomi is now a minority shareholder and the bank has rebranded, so check what is actually on offer in the app rather than relying on the Xiaomi tie-in.
Where the bank sits among the eight digital banks
Six years in, Hong Kong's digital-bank cohort has split in two. ZA Bank, WeLab Bank and Mox have reached or touched breakeven, with ZA Bank posting its first interim profit of about HK$49 million in the first half of 2025. The other five were still loss-making on their 2025 figures, EleBank among them, alongside livi, Fusion Bank, Ant Bank and Ping An Digital Bank (International) — the former PAOBank, renamed in March 2026. This says nothing about depositor safety, since the money is HKMA-protected, but it explains why the bank competes hard on deposit rates and leans on its shareholders for distribution rather than spending heavily to acquire customers.
The bank's answer to the cost problem has been to move its entire core banking system onto Tencent Cloud; Tencent Cloud announced the migration as complete in April 2025. Together with Futu's controlling stake, the direction is a leaner, cloud-run bank selling deposits, FX and investing to a China-facing base, rather than a full-service bank chasing every segment.
Who the bank is not suitable for
- US dollar payments to the United States: the bank is built around the HKD/CNY corridor, so compare USD transfer routing and fees against other Hong Kong banks first. We could not verify a published comparison ranking it against livi on USD, so the earlier claim to that effect has been removed.
- Large international SWIFT settlement outside China: a traditional bank such as HSBC Hong Kong or Standard Chartered fits better.
- Non-residents of Hong Kong without HKID – the bank requires either HKID or a long-term HK visa.
Q/A
Is EleBank a different bank from Airstar Bank?
No. Airstar Bank announced its change of identity to EleBank on 23 April 2026, and the HKMA register now lists Ele Bank Limited as a licensed bank. The rebrand did not itself create a second bank account relationship: customers should nevertheless use the current EleBank website and app and verify any payment instructions against official channels.
Can a visitor open an EleBank account without an HKID?
The current visitor route does not require an HKID in every case, but the applicant must be at least 18, physically present in Hong Kong, hold an accepted original identity document, and provide any required entry-and-exit records. The site illustrates a PRC resident identity-card flow; document support and approval should be checked before travel.
Can an EleBank account be opened entirely from abroad?
Not under the published visitor route. EleBank says a visitor must come to Hong Kong and be physically present when applying, even though the form and identity checks are completed in the app. Hong Kong residents have a separate mobile route using a current smart HKID, an eligible phone number and a valid residential address.
Are all EleBank balances protected up to HK$800,000?
No. Ele Bank Limited is a DPS member, but the HK$800,000 limit applies to the depositor’s aggregate eligible deposits at the bank. Separate savings and time-deposit accounts are combined, and non-deposit products, structured deposits, offshore deposits and time deposits originally longer than five years are not protected.
Should a promotional deposit rate be treated as permanent?
No. A headline rate may apply only to a campaign period, a balance tier, new money, a specific currency or an eligible customer group. EleBank directs customers to its latest savings and time-deposit terms. Compare the base and promotional rates, cap, tenor, early-withdrawal result and expiry date before moving funds.