Hong Kong’s PAObank to offer free travel insurance to new customers

New customers must use the referral code "PAOBPR" to avail of the insurance.

PAO Bank Limited (PAObank) is integrating insurance into its banking services.

The bank has entered into a strategic partnership with China Ping An Insurance (hong Kong) (CPAIHK), and is offering time deposit to customers and free travel insurance to new customers.

Until 30 September 2025, PAObank customers who complete three missions may earn up to HK$1,000 cash rewards.

The first mission involves setting PAObank as their default faster payment system (FPS) account, and the second mission involves exchanging HK$5,000 to US dollars via the in-app FX service.

Customers who complete these two missions can earn a US$9.29 cash reward, eligible to their HKD or USD savings account with PAObank within 2 months after the programme period.

The first 1,000 customers to complete all three missions will receive an additional HK$929 cash reward.

The third mission involves customers depositing HK$200,000 in new funds and placing a 6-month HK dollar denominated time deposit.

For new eligible individual customers, those who successfully open a retail banking account until now through 30 September 2025 via the referral code PAOBPR will receive free travel insurance from CPAIHK.

Newly signed-up customers who use the code will also enjoy an 18% annual interest rate on their 1-month HKD time deposit, with a maximum deposit amount of HK$50,000, according to the press release.

CPAIHK customers who successfully open a PAObank retail banking account will enjoy an even higher 20% annual interest rate on 1-month HKD time deposit, it added.