• Virtual Debit Card instantly ready
  Your new WeLab Bank account comes with an integrated virtual debit card that you can use immediately with your favorite online merchants – even before your physical card arrives!
• Good lookin’ technology
  A numberless card design prevents others from using your card number, CVV or expiry date without your permission. Want to shop online? Get all your card details securely from your app and spend with peace of mind. Flaunt off that fancy shimmer without worrying about having your card credentials compromised.
• Your card, your control
  All transactions are deducted directly from your Core Account balance, so you’ll never spend more than what you have. Get instant notifications the moment you use your card, set limits for your payments so you know where your money is going - all through your phone.
• Rewards for all
  Everyone loves a good deal! Earn rewards with your WeLab Debit Card – we’re always adding new perks, so be sure to check out our latest offers. That’s on top of all of the promotions offered by Mastercard that every cardholder can enjoy.

What's so special about a WeLab Debit Card?
Our WeLab Debit Card combines the best of both worlds: an ATM card and a Mastercard-branded bank card. With just one card in your wallet, you can access your money at any JETCO and CIRRUS ATM within Hong Kong (service fees may apply). You can also use it for purchases at any merchant/location that accepts Mastercard. All your transactions will be deducted / debited from your available balance in your Core Account; that way, you'll never spend more than you have!

Goodbye overspending, hello healthy budgeting!

What is the difference between the virtual card and physical card?
A virtual Debit Card is just the same as any other regular debit card, only that it's virtual! You can use it to pay for online transactions through the Mastercard network.

You will be issued a virtual Debit Card as soon as your account is opened, so that you can start using your card immediately. You can also request for physical Debit Card that you can use to make card-present transactions in store locations, which will delivered to you around 5-7 business days after your request has been made.

Do I need to activate my physical Debit Card?
Yes! For security reasons, the physical Debit Card you received is not usable until you have used our app to activate it.

Activate your physical card by logging into the app and go to "Card" > "Activate physical card", then scan the QR code located on the back of your card. Set your card PIN and voila! Your new card should be activated and you can start spending!

Maximise your shopping this weekend (and every weekend)!
Use our WeLab Debit Card and earn cash rebate when you eat out, hail a ride or shop for groceries, or even when you’re staying at home and ordering in on food or daily supplies – start maximizing your weekends in the most practical way!

From now until 31 March 2021, whether you use your physical or virtual WeLab Debit Card:

• On Friday to Sunday, get 5% cash rebate whenever you spend on our “Big 3” daily spending categories (F&B, ride-hailing or at grocery spots)* ! For other spending categories, get 1% cash rebate*!
• On Monday to Thursday, get 1% cash rebate on all spending categories*!

How much cash rebate can I earn?
*Up to HKD 500 for each calendar month, which means up to HKD 1,000 for the whole promotional period!

• From Friday to Sunday, Transport, Food & Beverage and Groceries spending: Earn 5% cash rebate (maximum HKD 250 per month, equivalent to HKD 5,000 eligible spending).
• From Friday to Sunday, other categories; AND from Monday to Thursday all spending categories: Earn 1% cash rebate (maximum HKD 250 per month, equivalent to HKD 25,000 eligible spending).

What merchants are eligible for the 5% special rebate?
Transactions made at merchants from the special categories Transport, Food & Beverage and Groceries are eligible for 5% special rebate.
Examples (including but not limited to):
Transport: Ride booking applications
Food & Beverage: Restaurants, bars, online food ordering websites/services, online food delivery platforms, hotel restaurants & bars, nutrition stores
Groceries: Supermarkets, convenience stores

What transactions are eligible for 1% cash rebate?
In a nutshell, most transactions are eligible for the 1% reward as long as they’re not the following:
(a) payment of banking fees and charges (including but not limited to annual fee, overdrawn fee, card replacement fee, ATM cash withdrawal fee, if applicable);

(b) quasi-cash transactions including:
(i) betting and gambling transactions;
(ii) instalment payments;
(iii) balance transfers;
(iv) cash, token, vouchers payment and/or foreign exchange transactions at non-financial institutions (including cash coupon purchases, purchase of foreign currency, money orders and travelers’ cheques);
(v) any transactions at other financial institutions (including purchase of merchandise and services from banks);

(c) bank transfers (by way of Faster Payment System, SWIFT, eDDA, etc.);

(d) bill payments (including but not limited to water bills, electricity bills, insurance premiums, payments to other banks and credit cards, etc.);

(e) tax payments to the Inland Revenue Department;

(f) purchase and/or reload of stored value cards or e-wallets;

(g) unposted, canceled and/or refunded transactions, in whole or in part.

We may add to, or remove from, the list of ineligible transactions from time to time at our sole discretion.

For the 5% special rebate, only transactions from the special categories can earn the reward!

What do I get for spending on Friday, Saturday or Sunday in the other categories?
You can still enjoy 1% cash rebate!

WeLab Bank combines the power of fintech with the power of people to open up a new world of virtual banking.

We are built for you
This bank is for you. Using the latest mobile technology and best-in-class financial minds, we’ve designed a digital-first and digital-only bank to make banking simple, fast, social and fun.

Without physical branches, we can create savings that we pass back to you in the form of better rates, more flexibility, and smarter ways to grow your money. We leverage behavioral science and technology to make your money dreams happen – all accessible at your fingertips.

This is the power of fintech.

We are human
Behind this screen and the lines of code are passionate individuals who grew up in Hong Kong, take the same buses and aspire for a better future just like you. We’re here to listen and co-ideate with you, because that’s how we can continue to understand and make banking work and make sense for you.

This is the power of people.

We are gamechangers
We’re a group of bankers, technologists, designers, and risk managers who left our corporate jobs because we wanted to create a game-changing bank for you. We changed out of our suits and ties so we can roll up our sleeves and get our hands dirty building a ground-breaking banking experience.

• We are made-in-Hong Kong
  We want to create a strong Made-in-Hong Kong fintech platform for all of us and make Hong Kong shine on the global financial stage. We’ve infused our magic by injecting Hong Kong’s unique market nuances in the design of this bank. We want to make you and Hong Kong proud.
• We are digital, we are human
  We leverage the power of big data insights, finance, technology and combine that with the power of people-oriented intuitive design. Together we can help you save more, create better ideas, and deliver bigger positive impact to your financial lives.
• We are a bank for all
  Building onto the success of neobanks around the world, we created our unique virtual bank that make banking accessible and revolutionizes how you bank. We are proud to be a homegrown virtual bank amongst the eight approved virtual banks to be awarded a banking license by the Hong Kong Monetary Authority.
• We are startup in spirit, veteran in fintech
  Behind WeLab Bank is WeLab Group – a company with proven success in redefining financial services since 2013. We’re proud to be backed by some of the world’s top investors, including CK Hutchison's TOM Group, International Finance Corporation and Sequoia Capital.