Cost of Living and Finance

Cost of Living

Expenses Estimated cost
Tuition fees and other charges Please refer to the website of the Finance Office
On-campus accommodation

Please refer to the website of the Student Residence Office:

Off-campus accommodation1 HK$50,000-60,000 (~US$6,400-7,700) per 2 semesters
Living costs (meals, transport, laundry, and education expenses for books, stationery, etc.)2 HK$50,000 (~US$6,400) per 2 semesters

1 Estimated cost for private renting. The rental could vary depending on the size, location, age of the building, etc.
2 Actual costs will vary depending on individual lifestyle choices. Students may also need to budget for outbound exchanges, summer study tours and emergency medical expenses, etc. 

Money Matters

Bringing Money to Hong Kong

It is unnecessary to carry a large amount of cash with you when you travel to Hong Kong. There is no immediate or large payment due on arrival, so an amount of around HK$10,000 in cash to support general living for the first two months should suffice.

Each student will receive an all-in-one payment notice during the first month after enrolment covering insurance premiums, etc. Payment can be settled by various means. Please visit website of the Finance Office for details.

Banking Services

Most of the banks in Hong Kong are open from 9:00 am to 4:30 pm Monday to Friday, and from 9:00 am to 12:30 pm on Saturdays, except for public holidays. Some banks and branches have slightly longer hours and some banking services are not available an hour before closing.

Automated teller machines (ATMs) can be found almost everywhere in Hong Kong, providing 24-hour cash withdrawal (HK$) for Visa and MasterCard holders. Some ATMs also provide cash in Renminbi, but few support withdrawals of other currencies.

Campus banks operated by Hang Seng Bank and Bank of China (Hong Kong) are located on the 3rd floor of Yeung Kin Man Academic Building. Branches of other banks such as Citibank, DBS, HSBC and Standard Chartered Bank, can be found in the nearby Festival Walk shopping mall.


Required documents for opening a bank account in Hong Kong:

Please check with your preferred bank for their requirements. Common required documents include:

  • Identity documents
  • CityUHK Student ID card
  • Proof of residency in home country
  • Proof of address in Hong Kong (If you are residing at the Student Residence, you can obtain it from the Student Residence Office.)
For students under 18:

Students under the age of 18 may not be able to open a bank account in Hong Kong. For those banks which allow minors to open a bank account, they normally require the presence of a parent. Please check with the bank you intend to patronise for details. 

Credit Cards

Visa, MasterCard, American Express and most of the international credit cards can be used for cash withdrawal and other financial transactions at ATMs in Hong Kong. However, please note that some local shops do not accept credit cards.

Other than the traditional payment methods, electronic payment such as Apple Pay, Google Pay, WeChat Pay and Alipay are also widely accepted in shops and restaurants.

Currency Exchange

The legal tender in Hong Kong is the Hong Kong dollar (HK$), which is linked to the US dollar at a rate of about HK$7.8 to US$1, although sometimes the exchange rate may fluctuate slightly.