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Changing HKD to pounds to take to UK

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  1. #11

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    I don't work for any of them, but have a lot of experience in this industry as I used to work for Revolut.

    Neither Transferwise nor Revolut have MSO licenses in HK yet.


  2. #12

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    Apologies - that was based on a conversation with their former regional head of compliance in Japan, rather than a search.


  3. #13

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    Based on the rate this morning Berlin would give GBP 19,083 which is less than the fintechs.


  4. #14

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    Quote Originally Posted by HK_Katherine:
    What's the value of your time? It doesn't need to be much before the fastest solution is also the cheapest.
    Not particularly valuable as I am partially retired and only work a few days a week plus many months holidays.

    I always think people who make comments like this are not bothered about wasting money. I estimate the difference between a good and a bad rate could be around 3000HKD. In my book that is worth a little thinking about options.

    As they saying goes. Look after the pennies and the pounds will look after themselves.
    shri and irisboards like this.

  5. #15

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    Original Post Deleted
    In this case not true. I get the advertised rates most of the time, sometimes even better as I have built a business relationship to some. In any case you can call and book a certain amount from most changers (not banks).

  6. #16

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    As long a you get at least what is advertised, I don't call this misleading or inaccurate. It is normal that a retail price can be bargained if there is a larger transaction. Especially between USD and HKD the possibility to bargain depends a lot on how much cash they sit on (or not) in that moment. Probably less so in other currencies (except RMB maybe)


  7. #17
    Quote Originally Posted by hktraveller:
    In this case not true. I get the advertised rates most of the time, sometimes even better as I have built a business relationship to some. In any case you can call and book a certain amount from most changers (not banks).
    Agree, I’ve received the advertised quotes most of the time from BEA with various Asian currencies and USD. Haven’t tried electronically transferring the currency though as I usually carry the cash for holiday purposes.

  8. #18

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    It depends on 1)How you intend to use the money 2)How valuable is your time.

    Cash exchange rates are always worse than TT (Wire Transfer) rates. However, if you are going to need lots of GBP cash, that might be an ok choice.

    If you're going to end up having to deposit the cash in the UK, you'll be much better off just transferring it! Otherwise, you'll need to exchange to cash, carry into UK, find a branch to deposit it.


  9. #19

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    Quote Originally Posted by answerer:
    It depends on 1)How you intend to use the money 2)How valuable is your time.

    Cash exchange rates are always worse than TT (Wire Transfer) rates. However, if you are going to need lots of GBP cash, that might be an ok choice.

    If you're going to end up having to deposit the cash in the UK, you'll be much better off just transferring it! Otherwise, you'll need to exchange to cash, carry into UK, find a branch to deposit it.
    Very strange. How come I could buy USD cash, deposit them in a bank and change back at a profit?

  10. #20

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    Original Post Deleted
    Not for "fintech" but Money Transfer type operations.

    My point was - would you blindly give money to an unlicensed operator? Not that it matters if you're a fan boy, but it does matter to me personally - same thing goes for Uber and other random folks. Also, just being licensed does not guarantee anything by itself.

    But I do get a bit anal about promoting / recommending a service that is unlicensed for the purpose, if a licensing scheme exists.
    Last edited by shri; 26-06-2018 at 09:41 AM.