ZA Bank unveils HK’s first stock rebate programme ‘StockBack’
• Earn a free lucky draw of big-name US stocks after each successful stock purchase
• Users can enjoy additional limited-time free US stock giveaway by end-June

Hong Kong, 18 June 2024 — ZA Bank today announced the launch of StockBack¹, an innovative stock rebate programme that allows users to get a free lucky draw of big-name US stocks after each successful stock purchase transaction. The move sets a precedent in the local banking industry where users can get “stockback” from every stock purchase for the first time in Hong Kong.

ZA Bank, Hong Kong’s largest digital bank by user base, is committed to building an all-in-one digital wealth management platform with the launches of fund and US stock investment services. The rollout of StockBack will bring an upgraded stock investment experience to users.

From now until 31 December 2024, ZA Bank users will automatically get a StockBack for each successful purchase of US stocks¹. Simply by logging into the dedicated campaign page and opening the PowerDraw box within 24 hours, users will receive a Designated US Stock Redemption Coupon. The designated stocks for the coupons include the top 100 US-listed companies and ETFs in terms of market capitalisation, such as Microsoft, Apple, Tesla and other technology giants. Users can instantly redeem the coupon for fractional shares in the form of market orders during US stock trading hours, or at the opening of the next trading day if the redemption is submitted outside of trading hours^{2, 3}. There is no limit to the number of coupons that a user can receive, and the redeemed shares can be sold at any time, where all commissions and transaction-related fees will be waived for the sale orders of the fractional stock portion⁴.

Calvin Ng, Alternate Chief Executive of ZA Bank, said, “As the only digital bank in Hong Kong that offers savings, insurance and investment in one single app, we provide a comprehensive suite of wealth management solutions to help more users embark on their investment journeys at a lower cost. In the initial week since the launch of StockBack, the daily count of users trading in US stocks has increased by nearly 80%, where the number of daily transaction orders has also recorded a substantial growth of about 120%. ⁵ Our aspiration is to become a banking app with the most engaging investment experience through this innovative offering.”

In addition, from now until 30 June 2024, ZA Bank users can collect a designated capsule through ZA Quest⁶, and open it to randomly draw a big-name US stock worth up to USD 77.77. ³ The capsules are available on a first-come, first-served basis while stocks last.

The bank also announced the extension of its US stock commission offer. Users who trade US stocks via the ZA Bank App can enjoy a trading commission of only USD 0.012 per share (min USD 3.88 per order) by 31 July 2024, regardless of the price of the stock purchased⁷.

Calvin continued, “With StockBack, we strive to democratise US stock investments for more users. Investing in US stocks is no longer a remote possibility, as users can get popular US stocks for free simply by opening the PowerDraw boxes to reach a new milestone in wealth management!”

Starting from today, users can update the ZA Bank App to the latest version to enjoy the new experience of StockBack.

— Ends —

Notes to editors:

Easy steps to participate in StockBack

	1. Automatically get a StockBack for each successful purchase of US stocks1
	2. Log into the dedicated campaign page and open the PowerDraw box
	3. Randomly get a Designated US Stock Redemption Coupon
	4. Instantly redeem the coupon for fractional shares in the form of market orders during US stock trading hours2,3
	5. Find the corresponding fractional shares in the position, which can be sold at any time4

From now until 30 June 2024, ZA Bank users can collect a designated capsule through ZA Quest⁶, and open it to randomly draw a big-name US stock worth up to USD 77.77.³ The capsules are available on a first-come, first-served basis while stocks last.

1. 1. “StockBack” refers to “Stock PowerDraw” chances. In each “Stock PowerDraw” chance, users will receive a Designated US Stock Redemption Coupon upon logging into the dedicated campaign page and opening the PowerDraw box within 24 hours. The promotion period is from today till 31 December 2024. Terms and conditions apply.
2. 2. For the redeemable stocks, amount and validity period, please refer to the coupon details of the designated U.S. stock redemption coupon. Participants should pay attention to the name and code of their redeemable stocks, the trading status (US stock market opening status/stock trading status), the redeemable amount, the redemption deadline, Disclosure of transaction-related information, and Terms and Conditions for Investment.  Stock Redemption Coupon is subject to its terms and conditions.
3. 3. The actual redeemed quantities are subject to actual execution prices. Fees incurred during redemption (commission and other fees for redemption) are waived by ZA Bank. The submitted redemption request cannot be cancelled or modified. After successful exchange, the fractional shares calculated to the 4th decimal place will be deposited into users’ US stock account.
4. 4. Commissions and transaction-related fees will be charged for sale order of the integer stock portion.
5. 5. Based on a comparison of the daily averages of US stock trading days for the period 3-10 June 2024 with that for the period 1-31 May 2024.
6. 6. ZA Quest is subject to its terms and conditions.
7. 7. From now until 30 June 2024, users can enjoy the minimum commission per order as USD 3.88. Terms and conditions apply.

Media enquiries

Please contact: media@za.group

About ZA Bank
 
ZA Bank Limited (“ZA Bank”), licensed by the Hong Kong Monetary Authority (“HKMA”) on 27 March 2019, is one of the first batch of virtual banks in Hong Kong. On 24 March 2020, ZA Bank officially launched its services to the public, making it the first fully operating virtual bank in Hong Kong. On 22 March 2021, ZA Bank officially launched Business Banking to deliver an innovative banking experience to local small and medium-sized enterprises. ZA Bank was established by ZhongAn Technologies International Group Limited (“ZA Global”). With its “Community-Driven” approach, ZA Bank encourages users to directly contribute to its product development and design processes, helping the bank create innovative services that better serve the needs of Hong Kong customers.
 
ZA Bank was recognised as “Virtual Bank of the Year – Retail Banking (Hong Kong)” in 2023 and 2024 for two consecutive years at The Asset Triple A Digital Awards. The ZA Bank App was also the top-rated Hong Kong retail banking app on Google Play as of 31 December 2023.

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