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?
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01-10-2007, 09:08 PM #1
Exchange HKD to USD
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01-10-2007, 10:22 PM #2
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.
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01-10-2007, 10:27 PM #3
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.
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02-10-2007, 01:48 PM #4
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 !
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02-10-2007, 02:21 PM #5
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02-10-2007, 06:14 PM #6
thanks for the help, now can anyone reccomend a good US tax person?
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