What's the best way to bring money to Hong Kong?

[KnowItAll]

Bank of America and Citibank have retail offices in Hong Kong.

Several other banks have offices which are geared to either private banking clients or corporate accounts.

[wutang]

Could someone tell me what is the daily ATM withdraw limit at HSBC?

Thanks....wutang

[PDLM]

HK$50,000 I believe. But most ATMs only allow HK$10,000 per transaction so you need to do multiple transactions to get more than that.

[Wes]

Bank of America in HK will let you withdraw funds from your US BoA account with no ATM fee.


Last time I did this a couple weeks ago they gave an exchange rate of 7.7538, which is very competitive.

[Jehnavi]

If your home currency fluctuates wildly against the greenback, like the Japanese Yen, and you don't want to take the currency risks between flights, you are also advised to change your money into US dollars first.

[Renotommy]

Bank of America in HK will let you withdraw funds from your US BoA account with no ATM fee.


Last time I did this a couple weeks ago they gave an exchange rate of 7.7538, which is very competitive.

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

Don't forget the 3% foreign transaction fee that all US banks (except for Capital One) now impose on their customers if they withdraw $$$ from overseas even from their own checking account.

I found that using my ATM card to withdraw $$$ from my checking account in local currency is the least expensive way......at least IMO. Banks do give you the preferred (may not be the best) exchange rates. Bear in mind that if you were going to exchange money at a HK bank that you are NOT a customer of, the handling fee is $50 HKD.

When I travel, I usually carry enough USD (emergency money) to tie me over for at least 1-2 days because ATM networks are sometimes closed for maintenance or update.

Before you leave the USA, be sure to notify your bank as to which country(ies) you will be traveling in otherwise your accounts (checking or credit card) will be blocked due to out-of-area transactions.

[zymu]

The best way to bring money into Hong Kong is to directly deposit into my bank first, so when you get here, it will be conveniently available to you if I see you.
Posted via Mobile Device