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Best way to exchange from HKD to British Pounds?

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  1. #1

    Join Date
    Jul 2012
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    Hong Kong
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    Best way to exchange from HKD to British Pounds?

    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!


  2. #2

    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.


  3. #3

    Join Date
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    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.


  4. #4

    Join Date
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    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.

    Asdracles likes this.

  5. #5

    Join Date
    Aug 2011
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    96

    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

    Football16 and walkup like this.

  6. #6

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    Jul 2012
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    Thanks guys. I think I'll go for the Berlin Company Exchange Ltd. in Central.


  7. #7

    Join Date
    Jan 2013
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    38

    have you tried online currency brokers?


  8. #8

    Join Date
    Jul 2012
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    Thanks, but that's alright. I went yesterday to Berlin & although there was a line, it was small & pretty quick.