Cash Payout Scheme
The Cash Payout Scheme was a one-time HK$10,000 (about US$1,290) universal cash payment announced in Hong Kong's 2020-21 Budget and administered by the HKSAR Government's Financial Services and the Treasury Bureau in partnership with 21 retail banks and Hongkong Post. It was funded entirely by the Hong Kong government to relieve residents' financial burden and stimulate consumer spending amid the 2019-2020 social unrest and the COVID-19 pandemic. Every Hong Kong permanent resident aged 18 or above by March 31, 2021, holding a valid Permanent Identity Card or Certificate of Exemption could register, regardless of income or need. By the time registration closed in December 2021, more than 6.5 million of an estimated 7 million eligible residents had been paid, at a total budgeted cost of roughly HK$71 billion.
Universal cash handout, one-time UBI-style payment, COVID-19 relief, Hong Kong, largest cash payout in Hong Kong history, needs-blind universal eligibility
Headquarters
- Organization Name
- Government of the Hong Kong Special Administrative Region (Financial Services and the Treasury Bureau)
- City
- Hong Kong
- Country
- Hong Kong
Contact
- Phone
- +852 1822 020
Status & Funding
- Organization status
- Active
- Program status
- Inactive
- Application status
- Timed
- Number of recipients
- 7,000,000
- Funding type
- Government
Benefits
- Currency Type
- Fiat
- Total Amount
- 10,000
- Avg. Per Month
- 555.56
- Payment frequency
- Lump Sum
- How long the program lasts
- 18 months
- Distribution Type
- Direct Bank Deposit, Cheque (via Hongkong Post)
- Benefit details
Recipients could register electronically through one of 21 participating banks for direct deposit into a sole-name bank account, the fastest method, with payment arriving about one week after registration. Alternatively, they could submit a paper form to a bank or Hongkong Post, or register electronically via the Hongkong Post website, to receive an order cheque collected in person. Paper-form registrants were processed in three age-based batches at two-week intervals, starting with those born in 1955 or earlier. Cheques were valid for six months; an uncollected or unencashed cheque was reissued once automatically and then forfeited if still unclaimed.
Eligibility
Overview
- Eligibility details
Eligibility was universal and needs-blind: any Hong Kong permanent resident aged 18 or above by March 31, 2021, holding a valid Hong Kong Permanent Identity Card or a Certificate of Exemption qualified, with no income, asset, or employment test. Residents who were eligible for but still processing permanent resident status could also qualify if they completed verification and ID applications with the Immigration Department by set 2021 deadlines.
Demographics
- Minimum age
- 18
- Language
- Chinese, English
Financial
- Banked status
- Banked, Unbanked
Citizenship
- Citizenship / immigration status
- Permanent Resident
- Minimum Years In Jurisdiction
- 7 years
Geography
- Countries covered
- Hong Kong
- Residency of Target Geography
- Yes
- Minimum Years A Resident of Target Geography
- 7 years
Application Process
- How to apply
Residents registered either electronically through one of 21 participating retail banks for direct deposit, or via a paper form submitted to banks or Hongkong Post, or electronically via the Hongkong Post website for cheque payment. Registration opened June 21, 2020 and closed December 31, 2021. Paper forms were also available at bank branches, post offices, Home Affairs Enquiry Centres, District Social Welfare Offices, and Hong Kong Housing Authority offices. General inquiries were handled via the hotline 18 2020 or the Scheme website.
- Selection process
There was no competitive selection process. Every registrant who provided documentary proof of Hong Kong permanent resident status (a valid Hong Kong Permanent Identity Card or Certificate of Exemption) and met the age requirement had their eligibility verified by the Immigration Department, banks, or Hongkong Post, and was then paid automatically.
