- Sleek’s banking partners are Airwallex and Aspire. You apply online, with no branch visit.
- Both are licensed money service operators, not banks, so balances aren’t covered by Hong Kong’s Deposit Protection Scheme.
- Neither charges an account opening fee or needs a minimum balance, and both have a free plan.
- You need your company documents, ID and proof of address for every director and significant owner, and a clear description of your business.
- With Sleek’s priority review, accounts can be activated in as fast as 48 hours once approved.
- Partners: Airwallex (multi-currency-heavy) and Aspire (spend-management-heavy) — both MSO-licensed in HK.
- Activation timeline: As fast as 48 hours with Sleek priority review (vs 2-12 weeks at traditional banks).
- Fees: HK$0 account opening, HK$0 monthly, HK$0 minimum balance for both partners.
- Eligibility: Non-resident directors and shareholders accepted; entire process online — no Hong Kong visit required.
For many new Hong Kong companies, opening a business bank account takes longer than setting up the company itself. Traditional banks ask for meetings, paper documents and weeks of checks, and founders based overseas often struggle most.
Sleek’s partners take a different route. You can open an Airwallex or Aspire account through Sleek online, using the documents from your incorporation, and start paying and getting paid in multiple currencies.
If you’re still weighing up banks, our guide to comparing traditional and digital business accounts in Hong Kong covers every option.
In this guide, you’ll learn:
- What Airwallex and Aspire are, and how safe your money is
- Which partner suits your business
- The documents you need and the four steps to apply
- How long it takes, and how to avoid delays
- When you need a traditional bank instead, or as well
Who are Sleek’s banking partners, and are they banks?
Sleek works with Airwallex and Aspire, two fintech platforms that offer business accounts for Hong Kong companies. Neither is a bank.
- Airwallex: Airwallex (Hong Kong) Limited is a licensed money service operator, regulated by the Customs and Excise Department. Another company in the Airwallex group holds a stored value facility licence from the Hong Kong Monetary Authority.
- Aspire: holds a money service operator licence in Hong Kong, also regulated by the Customs and Excise Department.
What that means for your company:
- What you get: an account in your company’s name to hold, send and receive money in several currencies, plus corporate cards.
- What you don’t get: deposit protection. Hong Kong’s Deposit Protection Scheme covers eligible deposits held with banks, so balances with Airwallex or Aspire aren’t covered.
That’s different from Hong Kong’s licensed virtual banks, which are full banks that happen to operate online.
Airwallex or Aspire: which should you choose?
Both open online with no setup fee and no minimum balance. The difference is what each does best.
| Airwallex | Aspire | |
|---|---|---|
| Best for | Collecting and paying in many currencies, and international transfers | Team spending, expense controls and cards for staff |
| Free plan | Explore: free | Basic: HK$0 a month |
| Paid plans | Grow: HK$499 a month. Accelerate: from HK$2,499 a month. | Premium: HK$399 a month |
| Opening fee and minimum balance | None | None |
| Cards | Corporate, virtual and employee cards with spending limits | Cards for spend users, with five included on Basic and HK$30 a month for each extra user |
Plan prices are from each provider’s Hong Kong pricing page and can change, so check them before you apply.
A quick rule: if most of your money crosses borders, start with Airwallex. If your main need is controlling what your team spends, start with Aspire. Our detailed Airwallex vs Aspire comparison breaks down FX fees, cards and yield.
What documents do you need to apply?
Have these ready before you start. If you incorporate with Sleek, the company documents come to you automatically.
- Company documents: Certificate of Incorporation, Business Registration Certificate and articles of association.
- ID for each person: a passport or Hong Kong identity card for every director, and for every owner with more than 25% of the company.
- Proof of address for each person: a utility bill or bank statement showing their home address, usually dated within the last three months.
- About the business: what the company does, who its customers and suppliers are, and the payments you expect to make and receive.
- Ownership chart: if the company has several shareholders or a company as a shareholder, a chart showing who ultimately owns it.
Everything to have ready before you apply for an Airwallex or Aspire account.
Directors and shareholders don’t need to live in Hong Kong, and identity checks are done online.
How do you open a business account through Sleek?
There are four steps. You complete the application yourself, online. Sleek prepares your company documents and sends your application to the partner for priority review.
Step 1: Incorporate or log in
Incorporate your Hong Kong company online with Sleek. Once you’re incorporated, you’ll have your Certificate of Incorporation and Business Registration Certificate ready to upload. If you’re already a Sleek client, log in to your dashboard.
Step 2: Choose your partner
Pick Airwallex or Aspire from the dashboard. Use the comparison above, or ask a Sleek adviser if you need both multi-currency payments and team cards.
Step 3: Apply through Sleek’s link
The link opens the partner’s own online application. You’ll enter your company details, describe the business and the payments you expect, upload the documents listed above, and complete an online identity check for each director and owner. No branch visit is needed.
Step 4: Activate and set it up
Once the partner approves the application, activate the account, add your team, issue cards and connect it to your accounting software for Hong Kong businesses.
Applying through Sleek also unlocks Sleek-exclusive offers from each partner, such as cash rebates and Sleek Credits. The current offers and their terms are on Sleek’s business banking page.
How long does it take, and how do you avoid delays?
With Sleek’s priority review, accounts can be activated in as fast as 48 hours once the partner approves them. Most delays come from the application itself:
- Vague business description: “consulting” or “trading” isn’t enough. Say what you sell, to whom and where.
- Missing or out-of-date documents: an expired passport or an old proof of address sends the application back.
- Unclear ownership: if a company owns your company, show who owns that company too.
- Higher-risk activity: some industries and countries get extra checks, so expect more questions and allow more time.
- Slow replies: if the partner asks a follow-up question, the application waits until you answer. Reply the same day if you can.
If one application stalls, you can apply to the other partner at the same time.
When is a Sleek partner account not the right choice?
A fintech account handles most day-to-day payments, but it isn’t enough on its own if:
- your business handles cash or cheques
- you need a business loan, overdraft or trade finance
- a client, landlord or supplier insists on dealing with a bank
- you want your balance covered by deposit protection
- your industry is one the partners don’t support, so check before you apply
In those cases, open a traditional bank account, either instead of or alongside a fintech account. Banks usually take longer and may want to meet the directors.
If you’re based overseas, our guide to opening a traditional bank account as a non-resident explains what to expect, and an Airwallex or Aspire account lets you start trading in the meantime.
When is a Sleek partner account a good fit?
- You’re setting up a new Hong Kong company and want to start trading quickly.
- You or your directors live outside Hong Kong.
- You’ll pay or get paid in several currencies.
- You want cards for your team with spending limits.
If that sounds like you, opening the account alongside your incorporation saves weeks of back and forth.
How Sleek helps you open your business account
Sleek sets up your company and your business account together, so you’re ready to trade as soon as you’re incorporated.
With Sleek, you can:
- Get bank-ready documents: your Certificate of Incorporation and Business Registration Certificate are ready to upload as soon as you’re incorporated.
- Apply with priority review: applications through Sleek’s partner links get priority onboarding.
- Get help choosing: our team will help you pick between Airwallex and Aspire, or open both.
- Keep the books in sync: account transactions feed into your bookkeeping and year-end accounts.
You get a company and a working business account, without weeks of waiting in between.
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FAQs about opening a business account with Sleek's partners
Does opening the account through Sleek cost extra?
No. Sleek’s incorporation packages include a free business account and debit card, subject to the partner’s approval. You only pay the partner if you choose a paid plan.
Do I need to be a Sleek client to open an Airwallex or Aspire account?
No. You can apply to either partner directly. Applying through Sleek adds priority review and Sleek-exclusive offers, and it’s open to Sleek clients, including companies that move their company secretary to Sleek.
What happens if my application is rejected?
Ask what was missing or unclear, fix it and reapply, or apply to the other partner. A rejection from one doesn’t stop you applying elsewhere, including to a traditional bank.
Can I switch from one partner to the other later?
Yes. The accounts are separate, so you open the new one, move your balance across and close the old one. Remember to send your new payment details to clients and suppliers.
