9 min read

Mox is One and is Hong Kong’s Most Trusted Virtual Bank¹

Special offer for customers to receive our limited-edition metal Mox Card

Mox is One and is Hong Kong’s Most Trusted Virtual Bank¹

Hong Kong, 1 September 2021 – Mox Bank Limited (“Mox”) celebrates its one year anniversary this month! Since our official launch on 22 September 2020, Mox has transformed the digital banking experience, bringing a suite of retail banking services and lifestyle benefits all in one place to cater for the digital lifestyle of Hong Kong consumers.

Deniz Güven, CEO of Mox, said: “Our aim is bring a new era of banking by winning the highest heart share and trust of Hong Kongers and we did it! In our first year, we have already seen close to 160,000 customers bank with Mox to take control of their day-to-day finances and build the financial freedom they want. Mox is the most trusted virtual bank in Hong Kong, based on a recent survey¹. The trust customers have placed with us tells us we are on the right track, and will push us to deliver even smarter ways to save, spend and borrow.”

In a survey¹ of virtual bank customers in Hong Kong, being trustworthy is the most important factor to overall brand consideration and Mox is selected as the most trusted virtual bank in Hong Kong. Mox is seen to be delivering what a virtual bank should do – making banking easier – with over 70% of interviewees saying opening an account with Mox was easy, and spearheading among other virtual banks in terms of easiness of account opening. The daily interest and instant CashBack features are well-received too, and are seen as one of the top three factors in a customer’s consideration when choosing Mox.

The Mox app is safe, simple and smart, and is one of the highest rated financial apps in Hong Kong with a 4.8 rating out of 5 on the Apple App Store and a 4.6 rating out of 5 on the Google Play Store. Other popular features among our customers include the real time account management and spend categorisation, the fully customisable savings goals, our partner discounts, as well as the instant provisioning and management of Asia’s first all-in-one numberless bank card.

Smart Saving*

  • Mox has attracted around 160,000 customers and close to HKD5.6 billion in deposits;
  • Over HKD30 million in deposit interest has been paid to our customers.

Smart Spending*

  • Close to HKD2 billion has been spent on the Mox Card, with it having been used around 6 million times. Just over summer this year, 1.5 million transactions were made using the Mox Card;
  • Close to 50% of transaction volume has been online; and,
  • More than HKD25 million in CashBack has been rewarded to our customers for spending with their Mox Card.

Smart Borrowing*

  • More than 90,000 customers have applied for Mox Credit;
  • 80% of these applications were processed straight through, i.e., no additional documents required;
  • On average, we took approximately seven seconds to give a first decision on all applications;
  • More than HKD3 billion in total of Mox Credit lines approved since Mox Credit was launched in May.

Deniz added, “We are pleased to have brought many market-firsts and innovations for our customers and the retail banking industry. We have shown Hong Kong what it means to truly put customers at the heart of what we do.”

Celebrating One Year of Mox with 3 Special Offers

  1. Earn a total of 1% p.a. interest on your deposits up to HKD500,000: During the months of September and October this year, you can earn an additional 0.5% p.a. interest as a bonus in addition to the 0.5% p.a. interest you already earn by participating in the ‘Mox Bonus’ promotion, allowing you to earn a total of 1% p.a. daily interest on your deposits with Mox up to HKD500,000. Complete both challenges during each of September and October, which are to maintain at least HKD50,000 across all your accounts with Mox, and accumulate a spending of at least HKD4,000 on your Mox Card (with Mox Credit or from your Mox Account) to be eligible to earn interest at the bonus 0.5% p.a. rate for the subsequent days² of that month.
  2. Mox Referral Programme: Our Mox Referral Programme is back! Successfully refer your friends to Mox during September 2021 - all they need to do is successfully open a Mox Account using your Invitation Code in September 2021 and spend at least HKD200 on their Mox Card (digital or physical, from their Mox Account or with Mox Credit) during the period from their Mox Account opening date and the following 30 days. You’ll receive a cash reward of HKD100 for the first friend you successfully refer to us, and an incremental of HKD50 each time for the second to fifth friends you successfully refer to us, up to a total of HKD1,000 for the first five successful referrals. For your sixth successful referral onwards, you’ll receive HKD100 per successful referral. Each of your friends will receive up to a HKD200 cash reward, with the HKD200 cash reward being available if they also apply for Mox Credit before they spend the HKD200 on their Mox Card required to earn a cash reward.
  3. Metal Mox Card lucky draw: We’re also bringing back the limited-edition metal Mox Card! For each successful referral you’ve made under the Mox Referral Programme in September 2021 and provided you have received the corresponding cash reward for each such successful referral before 8 November 2021, you’ll get a lucky draw chance to win a limited edition metal Mox Card, on top of the cash rewards you have earned for each successful referral. The more friends you refer to us, the more times you’ll be entered into the metal Mox Card lucky draw³.

Terms and conditions apply. For more details on these promotions, please visit mox.com.

What’s Next from Mox

Mox is committed to providing Hong Kong customers more innovative services and features that will help them grow their money, their world, their possibilities. In the same survey of virtual bank customers in Hong Kong1, we know that our customers are looking for more services from their virtual banks, including foreign currency trading (45%), stock trading (40%) and payroll (40%). Mox continues to listen to its customers and looks forward to announcing new services and features, as well as rewards and promotions, soon.

*All data provided is as of 31 August 2021, unless otherwise specified.

¹Data collected from a YouGov survey conducted in June 2021, with responses based on 1,033 respondents, of whom 694 are current virtual bank customers or prospective virtual bank customers.

²If you fulfil the requirements of both challenges on the last day of a month, you are not eligible to earn interest at the Bonus Rate the next day because it would fall outside of the relevant month.

³Up to a maximum of 5 entries into the lucky draw. If a winner is already a Metal Mox Card holder, they’ll win a Foodpanda voucher worth HKD350. The lucky draw will be held in November 2021 and the winners will be notified by email from Mox.

01 Sep 2021
9 min read