UK bank account until I can open HK bank account? Best method?

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  1. #1
    ghk
    ghk is offline

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    Jun 2020
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    Lightbulb UK bank account until I can open HK bank account? Best method?

    Hi.

    I am moving to HK in a few weeks and I note it will take me quite some time to be able to open up a HK bank account given the service for obtaining an ID card is temporarily shut due to covid...

    That being so, I am looking for the best way of banking until then...my partner has a HK bank account so I could transfer some money to him, but obviously this comes with a fee each time. Are there any recommendations for the best means? Monzo / Revolut card? Some other transfer service?

    Thank you!


  2. #2

    Join Date
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    The bank fee is less if you remit in HK Dollars rather than sending out Sterling Cheques to be deposited and then returned to UK for encashing - with HK bank's charge of $50/100 for each cheque.

  3. #3

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    Quote Originally Posted by GreenCatalonia:
    sending out Sterling Cheques to be deposited and then returned to UK for encashing

    It is 2020.

  4. #4

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    Quote Originally Posted by emx:

    It is 2020.
    Try convincing the lousy Brit Government's National Savings.



    They sent a UK Cheque when they forced my Wife's "Ernie Bonds" account closed.

  5. #5

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    Quote Originally Posted by GreenCatalonia:
    Try convincing the lousy Brit Government's National Savings.



    They sent a UK Cheque when they forced my Wife's "Ernie Bonds" account closed.
    But normal people just wire GBP directly.

  6. #6

    Join Date
    Sep 2018
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    Quote Originally Posted by ghk:
    Hi.

    I am moving to HK in a few weeks and I note it will take me quite some time to be able to open up a HK bank account given the service for obtaining an ID card is temporarily shut due to covid...

    That being so, I am looking for the best way of banking until then...my partner has a HK bank account so I could transfer some money to him, but obviously this comes with a fee each time. Are there any recommendations for the best means? Monzo / Revolut card? Some other transfer service?

    Thank you!
    You don't need HKID to open a bank account. Just some proof that you are actually moving here is sufficient e.g. offer of employment.

    Saying that, when I first arrived I just transferred HK$50k to a local friend using TransferWise and asked them to withdraw the cash.

  7. #7

    Join Date
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    Exclamation

    You don't need a Hong Kong ID. Passport and address proof works as well. Basically, if you come in on a work visa, you have an employment contract, and an address proof for a serviced residence or a rented flat then you can open a bank account immediately.

    We did it when we arrived in Hong Kong 14 years ago and opened a bank account the same day we arrived.

    Once you have an account you can transfer money from your UK bank account via TransferWise. Alternatively, you can tell your UK bank that you want your daily international ATM limit cranked to max and extract money using that. This may not be the cheapest way, but it's quick way if you want cash in hand on arrival.


  8. #8

    Join Date
    Aug 2017
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    I’d just transfer some uk pounds to your partner and get them to give you HKDcash. Or....just get them to give you some cash without transferring any. See how committed they are!


  9. #9

    Join Date
    Jul 2016
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    Get Halifax Clarity credit card and use it to withdraw cash in HK. Not all ATMs will work though, Citi works for sure. To avoid paying any interest rates, repay full amount on the day of withdrawal. Since that card has 0 day grace period.
    I did that few months in HK when just moved, worked just fine.