Exchange HKD to USD

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  1. #1

    Join Date
    Sep 2007
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    8

    Exchange HKD to USD

    Ive done a search on this but did not find the answer i was looking for. I would like to find the cheapest way to send HKD to my USD account. I have heard the lowest cost way is to use E-trade.
    With an E-trade Brokerage account in HK and a E-trade USD account overseas. Then simply just transfer your money from you HK account to E-trade HK.

    Any but got other ideas?


  2. #2

    Join Date
    May 2005
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    Sham Tseng
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    I don't think e-trade is any cheaper than doing an electronic transfer from your HK bank to your US bank.

    Of course there is a cost for sending from HK and possible a receiving cost from the US bank - but my experience and thoughts have been the that the cost is minimal.


  3. #3

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    Jun 2005
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    It really depends what bank accounts you have in place where and how much you want to transfer. I'm not clear what the requirement is...
    1: HKD cash in HK to a USD account in HK
    2: HKD in a HK bank account to a USD HK bank account
    3: HKD cash in HK to a USD bank account in the US
    4: HKD in a HK bank account to a USD bank account in the US

    or what?

    For case 3, if that's what you have, the cheapest might well be Western Union for small amounts.

    Last edited by PDLM; 01-10-2007 at 10:32 PM.

  4. #4

    Join Date
    Apr 2004
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    Quote Originally Posted by tx_dfw
    Ive done a search on this but did not find the answer i was looking for. I would like to find the cheapest way to send HKD to my USD account. I have heard the lowest cost way is to use E-trade.
    With an E-trade Brokerage account in HK and a E-trade USD account overseas. Then simply just transfer your money from you HK account to E-trade HK.

    Any but got other ideas?
    The way you write this seems to indicate all intra HK.
    In that case you simply have to have a multi currency account. Trans between accounts is free at the market exchange rate ( which you are offered to accept or decline before trans ).

    Your E trade account would pay into the designated account in whatever currency you designated.

    Transferring offshore is easy, quick and cheap by using the online banking facility.

    Job Done !

  5. #5

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    Jun 2005
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    Quote Originally Posted by Boris
    Transferring offshore is easy, quick and cheap by using the online banking facility.

    Job Done !
    Except of course when the online banking facility collapses completely under the strain of the utter madness which is currently infecting the share markets (as HSBC's has done this morning).

  6. #6

    Join Date
    Sep 2007
    Posts
    8

    thanks for the help, now can anyone reccomend a good US tax person?