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5 Reasons Startups & SMEs Choose Neat for their Hong Kong Business Accounts

Looking to open a Hong Kong bank account for your business?

As you’ve probably already figured out, it’s no easy task. If you’re reading this, chances are you’ve experienced first-hand what an ordeal it is to deal with the banks here.

Neat Business offers an alternative to a bank account, whether you’re just launching your business or want to set up an offshore account. We are here for startups and SMEs – from ecommerce, to agencies, traders, and beyond – so read on to see why so many choose Neat!

1. We make it easy to open a Hong Kong business account.

(Bet you don’t hear that often!)

Business bank accounts in Hong Kong are notoriously difficult to set up – and ten times so when you’re just starting out. Many legitimate business get rejected at banks again and again, after having their fingers crossed for months, for factors that are hard to control.

“It’s hard to do if you’re a small business, but even harder if you have a Russian passport, like I do. If I had tried to open an account with banks, I would have spent many months trying to overcome administrative barriers rather than working on my business.”

- Kirill Runkov, Craft Director at B-A-T-C-H

At Neat, our mission is to make finance solutions more accessible to entrepreneurs from a variety of backgrounds. Startups and SMEs choose Neat because we don’t make you jump through hoops to get your business started.

2. The approval process is streamlined, modern, and fast.

Startups work at a fast pace – a pace that banks simply can’t keep up with. You don’t have the time to wait for months to know if your Hong Kong bank account has been approved or not.

At Neat, since we’ve built our systems from scratch, we’ve been able to use the latest technologies to automate and digitize a large part of our KYC (Know Your Customer) approval process (which we won an award for, by the way!).

It’s hard for large banks to be as nimble and to innovate on the systems they’ve been using for so long – which means they’re still using long drawn out processes, which in turn draw out your application time.

Opening an account with Neat Business, however, is an entirely different story.

“I signed up for [a Neat Business] account for my startup company. Instead of taking months to set up like the banks, the account was ready to use in under a week. It really is a game changer.”  

- Natalie Pringle, CMO at The New Savvy

Most people who apply for Neat Business accounts get approved within a week.

3. You don’t have to physically be in Hong Kong to open (or manage) your business account.

Not in Hong Kong? Not a problem.

For entrepreneurs trying to open an offshore bank account in Hong Kong, it’s a hassle to have to make the journey here just to visit a bank branch.

That’s why everything from applying, opening, and managing your Neat Business account can be done online. If you’re operating your business from abroad, you can rest assured knowing you’ll never have to come in to a branch.

Here at Neat we’ve got our online application process accessible and made painless for entrepreneurs within and beyond Hong Kong.

Capital Match has enjoyed how simple the application process has been: we filled in all registration forms and submitted documents online through their platform. The experience has been simple and convenient.”

- Sherry Ngai, General Manager at Capital Match

4. Every account comes with Neat Mastercards.

Every Neat Business customer has the option to get Neat Business cards. It’s a prepaid Mastercard you can use in the same way as a regular debit card, both online and offline, but with a number of advantages:

  • Easy expense tracking that you can see from either your mobile app or Neat Business dashboard
  • You don’t need to wait to get approved for a seperate company credit card
  • There’s no chance of accidently spending more than your limit and going into debt
  • You can withdraw cash from any ATM around the world that accepts Mastercard
“Then we were introduced to Neat. We had a bank account number and Mastercards for the whole team organised in a week.”

- Billy Naveed, Founder of Young Founders School

Stay tuned – we have an exciting integration with Xero coming up, which will feed your account activity straight into your accounting software!

5. Neat is a strategic partner for startups and SMEs.

Here at Neat, we’re entrepreneurs helping entrepreneurs.

We understand what startups and SMEs want and need from their business accounts, because we’re a small (and growing) startup ourselves.

While banks prioritize the clients with the largest pockets and build their systems to them, we’re the opposite. We understand the unique challenges small companies face and we’ve built our product to support businesses like yours.

“I like that Neat is also a start-up, and they’re still developing. This means that they’re always innovating and open to customer feedback—which is rare with banks.”

- Dom Wells, Founder of HumanProofDesigns.com

Banks simply aren’t keeping up with the pace of innovation that today’s entrepreneurs are operating at – we are. Entrepreneurs choose Neat because we share in the same ambitions for innovation that you have.

Sign-up for a Neat Business account today!

Neat is not a bank. We’re a modern alternative that supports entrepreneurship that strives to remove obstacles small businesses face.

Join the community of startups, SMEs, and entrepreneurs who are already managing their finances with Neat Business.

Sign-up today!

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