Regularly charging large sums from HK to UK

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  1. #1

    Join Date
    Oct 2016
    Posts
    30

    Question Regularly charging large sums from HK to UK

    I will be transitioning to HK pretty soon but am currently paying a mortgage in the UK.

    I am with Barclays and HSBC at the moment in the UK. But both are on their BASIC accounts. Obviously my income will be in HKD and I'm going to need to open a bank account out there, but I don't want to be consistenly be hit with high fees transferring funds from HK to UK to fund the mortgage and potentially other bills in the UK.

    Can you advise what would be the best thing to do?

    *Title should be transferring not "charging"...


  2. #2

    Join Date
    May 2017
    Posts
    150

    You could always use bitcoin to transfer. Might take some time though as you need to:

    1) Transfer money to HK BTC exchange (e.g. anxpro)
    2) Spot which exchanges in the UK give you the best prices
    3) Buy BTC and transfer over to the UK exchange
    4) Sell BTC and move the money to your bank account

    All in all, I do that transferring money to HK from Malaysia and it barely costs me anything and I make some money out of it too since sometimes the BTC price in HK is higher. Or in my case, sometimes I just pay the $40 in admin/commission fees from HSBC