Exchanging hkd to gbp in hk or UK?

[NAMBLA]

Hi. Is it better to exchange 50k hkd to gbp in Hong Kong and take the cash. Or wait to get to England to exchange hkd to gbp? Or wire 50k hkd to my UK gbp Barclays account? Which method will I lose less on the exchange rate? Where hk would I the best rate? Bank or dodgy exchange in CK Mansion?

Thanks in advance for anyone experienced the best method.

[flameproof]

Changing exotic currencies (like HKD) in foreign countries is usually the worst option. I would buy GBP in HK.

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小女孩找換店 - SmallGirlExchange.Co.LTD

[flameproof]

Original Post Deleted

Sounds fishy, but is legit. Their rates are better than Chungking.

[NAMBLA]

Original Post Deleted

But where in hk did you exchange the 500k hkd to gbp? Did you get good rate?

[lighthse003]

HK banks and moneychangers has some of the best exchange rates in the world for HKD or USD/other currencies.

Macau Pataca is considered exotic in Hong Kong too, with many people travelling between HK and Macau every hour. Most Macau people already have HKD before boarding a ferry to HK coz MOP to HKD rates in HK are lower.

Only USD and EUR have acceptable rates in London. Asian currencies, no, both JPY and HKD are not common in the UK.


Where we go to change money in HK?
Internet banking foreign exchange function mostly.
Only widhdraw non HKD cash from foreign currency accounts if the bank is not charging fees. Some don't upto a certain amount, some always do. Banks have both TT and Notes rates, TT rates usually better, TT rates apply when no banknotes are seen in the process of transaction.

Or goto the shops with good exchange rates.

Changing exotic currencies (like HKD) in foreign countries is usually the worst option. I would buy GBP in HK

[Drunken Master]

Berlin exchange

[ray98]

Wouldn't do money exchange shops, one dodgy 50 quid note and you're in the UK, then what? TT it, always.

[WMDS]

From my experience, it is better to exchange to UKP in HK. Berlin Exchange offers very good rate for big sums but you need to phone up and agree to an appointment else you will have to join a very long queue.

I done the bulk of my exchange via SCB cos the exchange rates via online bank account were pretty good compared to HSBC and convenient as I didn't have to physically carry cash to Berlin Exchange.

[NAMBLA]

Thanks for all the advice... I guess will look for a bank with good exchange rate and buy gbp in hk.

[Gevening]

sorry for late reply, but by far the best way is to use a broker that gives you interbank rates, rather than the crappy retail rates in banks, including HSBC premier which consistently gives poor rates. l use Interactive Brokers, and they give interbank rates, which is about 0.5% better, which adds up to £1000's if you transfer alot, and to top it off you get a free telegraphic transfer once a month saving ~240HKD. so if it is just 50,000HKD you save at least couple of thousand. hope this helps.