USD to HKD?

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  1. #1

    Question USD to HKD?

    Hello! I'll be in HK in August and would like to ask the folks here where I can find a money changer to give me the best rates for my USD? A lot of people are telling me to go to Chungking and Mirador, but I'd like something more specific please. Hopefully somewhere you've done business with?

    Thanks!


  2. #2

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    Where in HK are you heading for exactly?


  3. #3

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    Do you have a particular reason to want to do this by carrying USD cash? Depending on who you bank with you may well find that you get a better deal using your ATM card, particularly for larger amounts, and it is inherently less risky than carrying large wodges of cash around.


  4. #4

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    Quote Originally Posted by onlysecond:
    Hello! I'll be in HK in August and would like to ask the folks here where I can find a money changer to give me the best rates for my USD? A lot of people are telling me to go to Chungking and Mirador, but I'd like something more specific please. Hopefully somewhere you've done business with?

    Thanks!
    i have tried out the shops in Chung KIng for USD to HKD and got the best rates in HK. They are reliable and offer the best rates. If you are exchanging a big amount, you can negotiate also.

  5. #5

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    So how much would you expect to get for, say US$1000 in Chungking Mansions?


  6. #6

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    Quote Originally Posted by PDLM:
    So how much would you expect to get for, say US$1000 in Chungking Mansions?
    if you are talking about expectations, then i will be satisfied for 1 usd = 10 hkd .. but no one will be that generous

    nt sure aabt the current rates as i exchanged last year

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    But the pegged USD/HKD rate hasn't changed since then...


  8. #8

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    Why money changer?

    Just go to bank. They will charge you one fixed processing fee about HKD40/50 for whatever amount you change.

    Some of the bank will request a account before do the exchange for you, but some can exchange without holding their bank account.

    Wing Lung Bank didn't request bank account. I can't remember the exact rate ( > HKD7.7 ) but definitely much much higher than what I get from money changer.

    TIPS:
    You can do multi currency exchange with Wing Lung Bank also with the same one fixed processing fee. So you no need to keep small amount of others currency in your hand.


  9. #9

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    Quote Originally Posted by erictby:
    Why money changer?

    Just go to bank.
    Typically, money changers in ChungKing have better exchange rates than banks and at times with little to no processing fees.

    PDLM's advice is good what I advise to my family and friends coming to visit.

    Also recommend that you not travel with travel checks as many merchants, banks and even the AMEX office themselves are not familiar with the travel check process. I have wasted more time standing around banks and the AMEX office in TST trying to cash in travel checks when friends and family from the USA come to visit.

  10. #10

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    For what it's worth, HSBC's rate today for buying USD banknotes is 7.77; there's a handling charge if you're not an HSBC customer.

    I've just moved some money between a USD account and my HSBC HKD account and got 7.808.

    But unless you're changing huge amounts of money these differences are surely insignificant? An extra 3 HKD for every US$100 changed? Is it really worth worrying about?

    Last edited by PDLM; 26-06-2007 at 02:41 PM.

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