No mention of fees. I assume something like the usual 3 percent or so Alipay tacks on to foreign credit card charges when you buy on Taobao. Don't know about a sign-up fee.

Note that HK phone numbers don't work since HK people are supposed to use the Bank of China special account we've discussed here before. But that account is only available to HRP holders, which HK expats don't have. So they can use the Travel Pass service only if they have a non-HK mobile number.

If you're American and already filing FBARs, that virtual bank card you create and load up on Travel Pass will probably need to be listed: more paperwork each year. Not a problem if you're not otherwise filiing FBAR and have no other foreign accounts, since the maximum balance is limited to RMB2000.