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Good bank for transfers from/to Europe?

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  1. #1

    Join Date
    May 2021
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    Good bank for transfers from/to Europe?

    Hi friends! I started with Bank of China, but having problems with recieving and sending HKD to my (multi currency) account in Europe.
    Did a test transfer with 20 HKD from Europe to Bank of China - arrived the next day. Then transferred 10k HKD the same way - still nothing arrived, after a week now! My bank in Europe said that the payment arrived last Thursday, but Bank of China (hotline and branch) can´t find anything, "Please wait some days"

    Anyhow, we will solve these troubles - but, do you have a good alternatives please, which is just faster?
    What about Standard Chartered, or HSBC? It can´t be that a transfer/remittance takes over a week...


  2. #2

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    I use Citibank for the same HKD to Saxo Denmark. Mostly the money arrives within hours. The langest so far was 3 days, but only in one instance. Plus if you have Status at CITI the transfers are completely free.

    Milocate likes this.

  3. #3

    Join Date
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    What network do HKD overseas transfers use? Have only used usd gbp sgd and eur for transfers. The routing might be a bit convoluted for a hkd-hk to HKD-EU transfer?

    I think there are some folks here mor knowledgeable about this and hopefully they chime in..

    I assume you have transfered EUR? Or USD?


  4. #4

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    Quote Originally Posted by shri:
    What network do HKD overseas transfers use? Have only used usd gbp sgd and eur for transfers. The routing might be a bit convoluted for a hkd-hk to HKD-EU transfer?

    I think there are some folks here mor knowledgeable about this and hopefully they chime in..

    I assume you have transfered EUR? Or USD?
    I am using Revolut (like wise) for years, which works really well (till now^^!
    Buying HKD on the app when the exchange rate EUR-HKD is okayish, and just pay everything with the card/app here in HKD, like using a local card - very nice.

    Also my test transfer with some HKD from to Bank of China worked well and very fast, so I think that this has something to do with Bank of China - as the test was okay. Maybe blocked due to safety reasons, but also an outbound test transfer has not arrived since Thursday last week, so strange..

  5. #5

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    As I understood it he transfers HKD to a multiple curency account as I do. Send and receive HKD, and I buy HK stocks with them offshore.

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  6. #6

    Join Date
    Aug 2006
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    I've used DBS and SC. Either euro or GBP transfers (i exchange from HKD first). Both are done same day / within 24 hours Monday to Friday.

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  7. #7

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    Ah ok, that is the reason why mine took 3 days. I sent Friday night.

    shri likes this.

  8. #8

    Join Date
    Feb 2016
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    140

    My HSBC transfers are instantaneous from here to UK and Jersey

    aw451, Milocate and qhank like this.

  9. #9

    Join Date
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    So, you change HKD to other currency first, then transfer it?
    Honestly, I would like to keep HKD atm, as its on a better way than EUR, therefore my transfer of HKD (then maybe switch it to CHF or so ).

    What are the costs for the transfer? Bank of China said 50-65 HKD per transfer, HKD or other currency


  10. #10

    Join Date
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    Quote Originally Posted by Milocate:
    So, you change HKD to other currency first, then transfer it?
    Honestly, I would like to keep HKD atm, as its on a better way than EUR, therefore my transfer of HKD (then maybe switch it to CHF or so ).

    What are the costs for the transfer? Bank of China said 50-65 HKD per transfer, HKD or other currency
    I exchange to GBP/ EUR first in Hong Kong and then transfer. I have more control over the exchange rate by doing it in Hong Kong first, rather than sending money from my Hong Kong HKD account direct to my UK GBP account.

    My UK account is only in GBP, while my account in Europe is multiple currency, but does not include HKD. So, I cannot transfer and keep HKD in the UK or Europe (if that is what you mean).

    Neither SCB or DBS charge me for the transfers. For example, if I transfer £1000 from Hong Kong, £1000 arrives in my UK bank account.
    Milocate and shri like this.

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