How to register for the Consumption Voucher Scheme in Hong Kong (updated)
Fancy getting HKD $5,000 of free money? Yes, you can spend it on anything you like. And no, it’s not too good to be true. The Hong Kong government the Consumption Voucher Scheme in 2021 to boost the local economy through spending and consumption, as the economy (like other countries) has been affected by the COVID-19-related closures and restrictions.
The second phase (and last round) of the consumption vouchers scheme (CVS) will start on 23rd June 2022, with two new operators – BoC Pay and PayMe from HSBC. Consumption vouchers will be disbursed to the stored value facility (SVF) account specified by eligible registrants including both existing and new registrants. In this Pacific Prime Hong Kong article, we’ll tell you more about the Consumption Voucher Scheme’s eligibility and registration process.
Consumption Voucher Scheme eligibility
All adults (over the age of 18) who are permanent residents or residents with a valid Hong Kong Identity Card (HKIC) will be eligible for the scheme as long as they have been in Hong Kong for the whole of the past two years. Dependents sponsored by the above categories will also be eligible. Unfortunately, this means that expats holding working visas and domestic workers are excluded.
Note: There are exemptions to the ‘two years in Hong Kong rule’, such as for those who were receiving medical treatment outside the city-state.
Consumption Voucher Scheme payout and usage
Eligible residents who register for the Consumption Voucher Scheme will receive digital vouchers valuing HKD $5,000 in total. The payments will be made in two or three installments depending on which electronic payment operator they choose.
The electronic consumption vouchers for payments via AlipayHK, BoC Pay, PayMe from HSBC, Tap & Go, and WeChat Pay HK will be issued in stages starting with HKD $2,000 in August 2022. The second phase of HKD $3,000 voucher cards will commence on 1st October.
Those who have requested to get their payments via Octopus will get HKD $2,000 in the first phase, and HKD $2,000 during the second phase on 1st October. And those who have spent over HKD $4,000 on or before 16th December can collect the remaining HKD $1,000 before the end of September next year.
The vouchers can be used for public transport, restaurants, retail stores, consumption service outlets, and locally registered online stores to boost the economy. They can’t be used for payments to the government such as tax and tunnel fees, utility bills, financial products and services, tuition fees and expenses at school or university, donations, and online purchases from non-local businesses.
The registration process for the second round of consumption vouchers for existing and new users
Here’s some good news for existing users, or those who have already received the first round of consumption vouchers. If you are an existing user and do not want to change your SVF account for receiving the second round of consumption vouchers, you do not have to re-register or go through any procedure. You will be disbursed with HKD $5,000 vouchers in installments based on your eligibility.
If you want to change their SVF account, you need to submit a new e-application on the scheme’s website or any of the temporary service centers from 23rd June to 23 July 2022. You are only allowed to change your SVF-related account only once. Any more requests for changes after the first successful change of account registration will be regarded as duplicated and the application will not process further.
Whether you’re tech-savvy or a Luddite, registering for the scheme will be an easy and straightforward process, as you can do so electronically or by paper.
Electronic registration
To register electronically, follow the steps below:
- Visit the Consumption Voucher Scheme’s website and register. The registrations for the second round will commence on 23rd June 2021.
- Complete identity authentication. You can do this through the “iAM Smart” app or by uploading a copy for your HKIC and inputting personal information.
Note: If you have registered and received payment under the Cash Payout Scheme last year, you may authenticate your identity using the last four digits of your telephone number registered under the scheme, and the last five digits of your account number for the bank transfer.
- Provide the related number of your stored value facility (SVF) account for collecting the vouchers.
Note: You must only choose one of six designated SVF operators to collect the vouchers, including AlipayHK, Octopus, Tap & Go, BoC Pay, PayMe from HSBC, and WeChat Pay HK. What’s more, each selected SVF account can only be registered once, and can’t be changed after submission of registration.
- Make a declaration regarding the “residing in Hong Kong” clause to complete the registration process.
- Wait for an SMS notification informing you of the registration result in around one week.
Paper registration
To register by paper, follow the steps below:
- Get the registration form either by downloading it from the Consumption Voucher Scheme’s website or by picking it up at designated locations in various districts.
Note: You can also collect the form at the Home Affairs Enquiry Centers of the Home Affairs Department, district social welfare offices of the Social Welfare Department, public housing estate offices, and the Customer Service Center of the Hong Kong Housing Authority.
- Complete and sign the paper form. Remember to staple a copy of your HKIC to the form.
- Fold the form and drop it into the drop boxes at any of the 560 collection points, including post offices in various districts.
Note: You can also go to designated branches of Bank of China (Hong Kong), Bank of East Asia, Hang Seng Bank, the Hong Kong and Shanghai Banking Corporation, and Standard Chartered Bank (Hong Kong) during office hours within the registration period. Registration forms submitted by post, fax, or email will not be accepted.
- Wait for an SMS notification informing you of the registration result in around two weeks.
Safeguard your health with Pacific Prime Hong Kong today!
The Consumption Voucher Scheme has been intended to alleviate the COVID-19-related economic impacts. But the pandemic has not just affected the economy – it has also affected healthcare matters. As you begin paying more attention to your health and wellbeing, it may be a good idea to secure a health insurance plan. This ensures you can access the best quality healthcare in the city-state without having to pay out of pocket.
Looking for the best health insurance in Hong Kong? With over two decades of experience, a broker like Pacific Prime Hong Kong is a good bet. Our highly-trained insurance advisors take into account your needs and budget, with the aim to help you secure the most appropriate plan and support you throughout your insurance journey. Get in touch with us for unbiased insurance advice, a tailored plan comparison, and a no-obligation quote today!
With over 5 years of experience in the field, Suphanida spends the majority of her day synthesizing complex pieces of insurance-related information and translating this into easy-to-understand, engaging, and effective content across a variety of media such as articles, infographics, whitepapers, videos, and more.
Suphanida is also responsible for planning and publishing three whitepapers released annually by Pacific Prime: The State of Health Insurance Report, The Cost of Health Insurance Report, and The Global Employee Benefits Trends Report. Additionally, she handles the LinkedIn profiles of Pacific Prime’s Founder and CEO, as well as Global HR Lead.
Suphanida’s strengths lie in her strong research and analytical skills, which she has gained from her BA in Politics from the University of Warwick and Erasmus Mundus Joint MA in Journalism from Aarhus University and City, University of London.
Being of Thai-Indian origin and having lived, studied, and worked in Thailand, the UK, and Denmark, Suphanida also has a unique, multicultural perspective that helps her understand the struggles of expats and globetrotters.
Outside of work, she enjoys traveling to new places and immersing herself in different cultures.
- An Overview of Mental Health Resources in Hong Kong - June 11, 2023
- Hong Kong Budget 2023: Eligible residents to receive HKD$ 5,000 to boost spending - February 27, 2023
- Inpatient vs. outpatient insurance: What does it cover and what is the difference? - February 20, 2023
Top 100 Hong Kong Blogs Winner
Comments
Comments are disabled for this post
We'll notify you
when our team replies!