I need around £500, so I'm wondering whats the best/cheapest way to do this. Should I goto a bank, or do the exchange in those little exchange shops scattered around? Thanks!
I need around £500, so I'm wondering whats the best/cheapest way to do this. Should I goto a bank, or do the exchange in those little exchange shops scattered around? Thanks!
Whichever way is the cheapest I suppose.
For the best rate via banks, you will need an account with them.
The big names like Hangseng, Hsbc don't offer good rates, whereas mainland banks like Icbc offer competitive exchange rates.
Dont know about exchange shops.
For £500 you might save a couple of quid by shopping around, but for convenience I'd just go to where you bank. Depending on your relationship with them you should get a reasonable rate. If with HSBC in my experience you do slightly better by converting the money to your GBP account via online banking then simply withdrawing pounds rather than going in to a branch with HKD bills and asking to have them converted to GBP bills.
It's only £500 so beware of the 'false economy' of shopping around too much. A difference between 12.30:1 and say 12.40:1 results in a grand total of about $50HKD difference, which really might not be worth the hassle of spending an hour or two trying to find and get to the right place vs. just getting it somewhere convenient.
Agree that only worth it if you a large amount. I wait until I have at least 10k HKD.
For that amount or above there is a place in Central that I often go.
Always a long long queue so don't go at lunch time. They have a website that you can check their rates on.
HSBC can never give me the same rates, online or at the branch.
Berlin Company Exchange Limited
Room 1703 Chinese Bank Bldg
61-65 Des Voeux Road
Central
tel: 2523 2549
have you tried online currency brokers?
Thanks, but that's alright. I went yesterday to Berlin & although there was a line, it was small & pretty quick.