
Airstar Bank Launches Foreign Exchange (FX) Service
First VB to introduce 24-hour Access to Seize Investment Opportunities in FX Market
At the start, our FX service supports three currencies, namely Hong Kong Dollar (HKD), US Dollar (USD) and Chinese Yuan Renminbi (CNY). Through the Airstar Bank mobile app, customers can view real time exchange rates to track the latest market movements anytime, anywhere. Our 24-hour instant trading capability also allows immediate trade without being restricted by the working hours of some traditional banks. Customers can utilize the funds straight away after transactions, avoid missing out due to delayed trading and seize every potential FX investment opportunity.
The Airstar Bank mobile app is designed to optimize customer experience, with a particular focus on simplicity and convenience for users. After logging in, they can access real time FX rates by choosing “FX”. If desired, they can then tap “Exchange Now” and complete a transaction in three simple steps: (i) select the currency and amount to buy or sell, (ii) select the currency which you wish to trade, and (iii) confirm the transaction which will be processed within seconds.
Airstar Bank stays true to the vision of stellar banking services for everyone by rewarding customers with competitive FX rates which beat those offered to the high-end accounts of major traditional banks. For example, as of 9am approximately, 29 April 2021, both our USD and CNY exchange rates are lower than the average rate offered by 4 major traditional banks to their high-end accounts which helps customers save more.
Currency |
ASB
FX Rate |
HKD required
for every USD/ CNY 10K transaction |
Average
rate among high-end accounts of |
HKD
required for every USD/ CNY 10K transaction |
USD |
7.7748 |
HKD 77,748 |
7.7821 |
HKD 77,821 |
CNY |
1.2025 |
HKD 12,025 |
1.2059 |
HKD 12,059 |
Our account with Deposit and FX services enables customers to buy foreign currencies and subsequently place a time deposit with the mobile app straight away. What’s more, our USD and CNY time deposit rates are generally more favorable than other traditional banks2. For example, our 12-month CNY time deposit is being offered at a stellar rate of 2.7% p.a.2, which is 7.7 times of the interest rates in other banks2.
From 29 April to 31 May 2021, customers who complete FX transactions on the Airstar Bank mobile app with a cumulative amount of at least HK$50,000 (or equivalent) will be eligible for an extra cash rebate of HK$1003.
"Airstar Bank is dedicated to expanding the products and services and providing the public with more comprehensive and easy-to-use banking services. The new FX service is being rolled out to dovetail with our existing offer of 2.7% p.a. on 12-month CNY time deposit for the ultimate benefit of the customers,"" says Mr. Ronald Iu, Chief Executive of the Bank.
Note:
- As of 9am approximately, 29 April 2021, based on comparison with relevant FX interest rates offered by 4 major HK traditional banks to high-end accounts (excluding promotional offers). Information for reference only.
- As of 9am, 29 April 2021, based on comparison with 12-month CNY time deposit rates among 3 major HK banks (excluding promotional offers). Information for reference only.
- Please refer to “Foreign Currency Exchange Promotion Offer Terms & Conditions” on Airstar Bank website for details.
Photo 1 – Simple and convenient, Airstar Bank’s FX service allows you to complete a transaction within seconds.
Photo 2 – The first virtual bank in HK provides 24-hour FX service
About Airstar Bank
Airstar Bank Limited is an entity jointly established by Xiaomi Corporation, global IoT leader, and AMTD Group, Asia's leading comprehensive financial services conglomerate. Airstar Bank has been granted a banking licence by the Hong Kong Monetary Authority on 9 May 2019. We are committed to the vision of financial inclusion and financial innovation, with a view to becoming "Everyone's Bank". We pledge to all customers that they will enjoy and benefit from convenient, state-of-the-art virtual banking services.
Media Enquiries
Across Asia Communications Limited
Kent Lau
3111 5199
Airstar Bank
Carrie Foon
3961 3109