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GBP to HKD FX - to buy in UK or wait till in HK?

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  1. #1

    Join Date
    Feb 2014
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    London presently (HK soon)
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    GBP to HKD FX - to buy in UK or wait till in HK?

    Hi all,

    Just thinking about money for my trip to HK on saturday.

    The best rate I can get in the UK is roughly 12.5:1

    Would I be better off waiting till I get to HK and brining GBP cash and swapping at local stores - is this common?

    Would work better for me in the sense that I wont need to reconvert excess HKD back to GBP when I get home.

    Thanks,
    Tom


  2. #2

    Join Date
    Aug 2006
    Posts
    7,517

    See current bank rates here: https://bank.hangseng.com/1/2/rates/...exchange-rates

    But, you need to pay (I think) HK$50 if you exchange money at Hang Seng if you are not an account holder. There are private exchange shops which will offer a similar rate, some with charges, some without (but a lower rate).

    I usually use my ATM card, but that depends on what your bank charges to withdraw overseas.


  3. #3

    Join Date
    Mar 2012
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    Your best bet is just to use your UK ATM card to withdraw HK$ here, unless your bank has unusually high charges for overseas withdrawls.

    TheBrit likes this.

  4. #4

    Join Date
    Feb 2014
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    London presently (HK soon)
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    Are there not local stores which convert currency willy nilly?


  5. #5

    Join Date
    Mar 2012
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    Yes of course, but you won't gain anything. What do you have against ATMs?


  6. #6

    Join Date
    Feb 2014
    Location
    London presently (HK soon)
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    To use an ATM outside of the UK i'll have to pay an FX transaction fee (for my bank its 2.75% of sterling amount withdrawn) and then a fixed comission fee (£1.25).

    If I take out £'s in the UK and bring them over, convert them in a corner shop as and when I need them at a decent rate, overall I think I'll be better off..... So if you say there are loads of places which do this, I will stick to this...

    Thanks....


  7. #7

    Join Date
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    Corner shops?