Send Money To Hong Kong

Updated on September 13, 2020
Personal
Business
From
United States Flag
United States
USD
To
Hong Kong Flag
Hong Kong
HKD
1 USD equals
7.75 HKD
09/13/2020 5:19 PM UTC
 
How much to transfer?
$1-1k
$1k-10k
$10k +
Provider
Features
Fees
Score
Speed
Transfer Now
OFX Logo
  • Check Icon
    0.4% margin for new customers referred by iCompareFX
  • Check Icon
    Fee-free transfers
  • Check Icon
    Scheduled transfers
  • Check Icon
    Online and phone transfers
$
$
$

low

Fees
87
Speed Icon

medium

2-3 days

Less Information
+

Transfer Options

  • Bank transfer
  • Debit card (UK only)
  • BPAY (Australia only)
  • Direct debit (U.S. only)

Features

  • Check Icon
    0.4% margin for new customers referred by iCompareFX
  • Check Icon
    Fee-free transfers
  • Check Icon
    Scheduled transfers
  • Check Icon
    Online and phone transfers

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

low

Fees
Speed Icon

medium

2-3 days

Best For

  • Circle Check Icon
    Pay no fees for personal transfers
  • Circle Check Icon
    Get competitive exchange rates
  • Circle Check Icon
    Lets you schedule transfers with ease
  • Circle Check Icon
    Trading in some currencies possible only over the phone
  • Circle Check Icon
    Website access only in English

TorFX Logo
  • Check Icon
    Fee-free transfers
  • Check Icon
    Scheduled transfers
  • Check Icon
    Forward contracts
  • Check Icon
    Limit and stop loss orders
  • Check Icon
    Travel money solutions for UK residents
$
$
$

low

Fees
72
Speed Icon

medium

2-3 days

Less Information
+

Transfer Options

  • Bank transfer
  • CHAPS (UK only)
  • BACS (UK only)
  • Visa debit card (UK only)

Features

  • Check Icon
    Fee-free transfers
  • Check Icon
    Scheduled transfers
  • Check Icon
    Forward contracts
  • Check Icon
    Limit and stop loss orders
  • Check Icon
    Travel money solutions for UK residents

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

low

Fees
Speed Icon

medium

2-3 days

Best For

  • Circle Check Icon
    Pay no fees for one-off transfers
  • Circle Check Icon
    Schedule transfers between £500 and £10,000 per month
  • Circle Check Icon
    Use hedging tools to protect yourself against FX fluctuations
  • Circle Check Icon
    No multilingual website

XE Money Transfer Logo
  • Check Icon
    Fee-free transfers
  • Check Icon
    Competitive exchanges rates
  • Check Icon
    Limit orders
  • Check Icon
    Multilingual website and customer service
$
$
$

low

Fees
74
Speed Icon

medium

2-3 days

Less Information
+

Transfer Options

  • Bank Transfer
  • BPAY (Australia)

Features

  • Check Icon
    Fee-free transfers
  • Check Icon
    Competitive exchanges rates
  • Check Icon
    Limit orders
  • Check Icon
    Multilingual website and customer service

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

low

Fees
Speed Icon

medium

2-3 days

Best For

  • Circle Check Icon
    No fees for personal transfers
  • Circle Check Icon
    Accepts payments in several currencies
  • Circle Check Icon
    Target specific rates using limit orders
  • Circle Check Icon
    No debit or credit card payments
  • Circle Check Icon
    No scheduled transfers

WorldRemit Logo
  • Check Icon
    Bank account transfers and cash transfers
  • Check Icon
    Mobile airtime and mobile wallets top up
  • Check Icon
    Home delivery of transferred funds
  • Check Icon
    Multicurrency WorldRemit Wallet
  • Check Icon
    Multilingual website
$
$
$

medium

Fees
63
Speed Icon

fast

1-2 days

Less Information
+

Transfer Options

  • Bank Transfer
  • Debit / Credit card
  • Google / Apply Pay
  • POLi (Australia)

Features

  • Check Icon
    Bank account transfers and cash transfers
  • Check Icon
    Mobile airtime and mobile wallets top up
  • Check Icon
    Home delivery of transferred funds
  • Check Icon
    Multicurrency WorldRemit Wallet
  • Check Icon
    Multilingual website

Support

  • Phone
Support
Phone Icon
Phone
$
$
$

medium

Fees
Speed Icon

fast

1-2 days

Best For

  • Circle Check Icon
    Transfers to cash pickup locations
  • Circle Check Icon
    Transparent rates and fees
  • Circle Check Icon
    Low minimum transfer amount
  • Circle Check Icon
    No hedging tools
  • Circle Check Icon
    No scheduled transfers

Payoneer Logo
    $
    $
    $

    high

    Fees
    71
    Speed Icon

    medium

    2-3 days

    Less Information
    +

    Transfer Options

    • Bank transfer
    • Debit card
    • Credit card
    • Bank debit

    Features

      Support

      • Phone
      Support
      Phone Icon
      Phone
      $
      $
      $

      high

      Fees
      Speed Icon

      medium

      2-3 days

      Best For


      Currencies Direct Logo
      • Check Icon
        Forward contracts and limit orders
      • Check Icon
        Scheduled transfers
      • Check Icon
        Travel money solutions for residents of the UK
      • Check Icon
        Multilingual website
      $
      $
      $

      low

      Fees
      84
      Speed Icon

      medium

      2-3 days

      Less Information
      +

      Transfer Options

      • Bank transfer
      • Debit card

      Features

      • Check Icon
        Forward contracts and limit orders
      • Check Icon
        Scheduled transfers
      • Check Icon
        Travel money solutions for residents of the UK
      • Check Icon
        Multilingual website

      Support

      • Phone
      Support
      Phone Icon
      Phone
      $
      $
      $

      low

      Fees
      Speed Icon

      medium

      2-3 days

      Best For

      • Circle Check Icon
        Schedule transfers easily
      • Circle Check Icon
        Make use of hedging tools
      • Circle Check Icon
        Accepts customers from most countries
      • Circle Check Icon
        Cannot sign up from all states in the U.S.

      TransferWise Logo
      • Check Icon
        Transparent fee structure
      • Check Icon
        Send money to email addresses
      • Check Icon
        Multicurrency account with debit card
      • Check Icon
        Multilingual website & app
      $
      $
      $

      low

      Fees
      75
      Speed Icon

      fast

      1-2 days

      Less Information
      +

      Transfer Options

      • Bank Transfer
      • Credit Card
      • Debit Card
      • Country specific alternatives

      Features

      • Check Icon
        Transparent fee structure
      • Check Icon
        Send money to email addresses
      • Check Icon
        Multicurrency account with debit card
      • Check Icon
        Multilingual website & app

      Support

      • Phone
      Support
      Phone Icon
      Phone
      $
      $
      $

      low

      Fees
      Speed Icon

      fast

      1-2 days

      Best For

      • Circle Check Icon
        User friendly mobile app
      • Circle Check Icon
        Multi-currency account
      • Circle Check Icon
        Travel debit card
      • Circle Check Icon
        No scheduled transfers
      • Circle Check Icon
        No dedicated account manager

      How to send money to Hong Kong

      How To Step Icon
      Step 1
      Selecting the right company, signing up
      Selecting the right company, signing up
      Selecting a suitable service provider to send money to Hong Kong requires that you do some basic groundwork. Compare the top contenders across different parameters.
      Select the best based on your specific requirements.
      Signing up requires that you prove your name, contact details, and details from an acceptable form of ID document.
      How To Step Icon
      Step 2
      Assessing exchange rates, initiating your transfer
      Assessing exchange rates, initiating your transfer
      You may determine if you should send money to Kong Kong at any point in time by looking at the recent history of HKD exchange rates.
      To initiate your transfer, ask the company you select for a rate quote. Bear in mind that the transfer amount might have an effect on the offered rate.
      You may lock the rate for a predetermined time period by accepting the quote.
      Once you do this, your service provider will ask for the recipient's local bank account details.
      How To Step Icon
      Step 3
      Making the payment, tracking the transfer
      Making the payment, tracking the transfer
      You might be able to pay for your transfer in different ways, depending on the company you select.
      Your service provider will transfer money to Hong Kong only after it is in receipt of your payment.
      The company notifies you of how long the transfer might take ahead of time.
      You may turn online to track the progress of your transfer. Several companies also send email and text notifications.

      Currency Symbol and Swift Codes

      The Hong Kong dollar (HKD) is the official currency of Hong Kong. It is also widely accepted in Macau. One Hong Kong dollar is divided into 100 cents. The Hong Kong Monetary Authority (HKMA) has authorized three banks to issue their own banknotes, and the banks include the Bank of China, HSBC, and Standard Chartered. In April 2016, the Hong Kong dollar was the 13th most traded currency in the world.

      Information you need when carrying out a money transfer to a bank account in Hong Kong includes the bank’s SWIFT code. Here are SWIFT codes of some popular banks in Hong Kong.

      BANKBRANCHSWIFT CODE
      HSBCHong KongBLICHKHXXXX
      Bank of ChinaHong KongBKCHHKHHXXX
      Standard CharteredHong KongSCBLHKHHXXX
      Hang Seng BankHong KongHASEHKHHXXX

       

      Case Study

      Chan got an opportunity to move from Hong Kong to the U.S. because of work. However, his aging parents who were financially dependent on him did not want to relocate and decided to stay back in Hong Kong. This meant Chan would have to keep sending them money regularly.

      Chan used a popular American bank for the first few months. Then, upon the suggestion of a friend, he compared it with a prominent overseas money transfer company. The results of his comparison are listed in the corresponding table.

       BANKMONEY TRANSFER SERVICE
      Exchange rateU.S. $1 = HK $7.6131U.S. $1 = HK $7.7790
      Transfer feeU.S. $25U.S. $0
      Amount received for U.S. $2,000HK $15,035.87HK $15,558.00
      Transfer time2 to 5 days1 to 2 days
      Transfer optionsBank accountBank account
      Difference of HK $522.13

      Turning to the money transfer company instead of the bank ensured that Chan’s parents received a little extra money each month, and it also got to them sooner. Besides, Chan then started scheduling his transfers for six months at a time, and this was a functionality that the bank did not provide.

       

      Cash Pickup Locations in Hong Kong

      If you want to transfer money to Hong Kong in a hurry, or in case the recipient does not have a bank account, you may consider transferring funds to a cash pickup center. Some of the popular companies that have agent networks in Hong Kong include Western Union, MoneyGram, Ria, and Azimo.

      WESTERN UNION IN HONG KONG 
      City Foreign Exchange Ltd Shop 224, 2nd Floor, Worldwide House 19 Des Voeux Road Hong KongCheung Sha Wan Post Office G F 650 Cheung Sha Wan Road Cheung Sha Wan, Kowloon Hong Kong
      City Foreign Exchange Ltd Shop 9, G F Chungking Mansion 36 Nathan Road Tsim Sha Tsui, Kowloon Hong KongCity Foreign Exchange Ltd Flat Rm 3b, G F Full Cheung House 73 Yeun Long On Ning Road Hong Kong
      MONEYGRAM IN HONG KONG 
      MoneyGram 92 93-94 33 Hop Choi St Yuen Long Hong KongMoneyGram 18 Russell St Causeway Bay Hong Kong
      MoneyGram World Wide House 19 Des Voeux Rd Central, Hong KongMoneyGram Dragon Rise, Shop A1 1 Floor 9-11 Pennington St Causeway Bay, Hong Kong

       

      Safety Tips for Picking Up Cash in Hong Kong

      Hong Kong has typically low levels of crime. However, there are instances of petty crimes such as bag snatching and pickpocketing that tend to take place around busy shopping areas, in crowded streets, on public transportation, and even at the airport. Do not leave your bags unattended or there is a good chance someone will steal them.

      Some thefts targeting foreigners have been reported from the entertainment and shopping districts in the Shenzhen Special Economic Zone. If you plan to visit Shenzhen, do so with a friend or in a group, and remain vigilant at all times.

      Do not leave your drink unattended and do not accept drinks from strangers, because instances of drinks being spiked and victims being robbed are not uncommon.

       

      What Information Do I Need to Transfer Money to Hong Kong?

      The information you need to provide when sending money to Hong Kong depends on the transfer method you select.

      • Bank account. You will need the recipient’s complete name and bank account number along with the receiving bank’s name and SWIFT code.
      • Cash pickup center. Along with the recipient’s complete name, keep the address of the desired cash pickup center close at hand. The recipient may collect the transferred funds by providing a reference number and an acceptable form of identification document.

       

      Regulations When Transferring Money To and From Hong Kong

      The Hong Kong dollar is a free floating fully convertible currency so you may transfer money in or out of Hong Kong easily. The Hong Kong Monetary Authority (HKMA) is responsible for overseeing the country’s financial and payment systems. It also monitors the country’s foreign exchange reserves as well as the activity of all financial institutions in the country. There are no restrictions on how much money you may transfer in or out of the country.

      Convert USD to HKD

      Check out the historical exchange rates for the last thirty days. Learn how much you can save by using a global money transfer company instead of the big banks.
      USD
      HKD
      Sending money online through specialist money transfer companies.

      Expect to receive between HK$767.29 and HK$771.94 when sending money from USD to HKD at today's exchange rate.

      Compare that to sending money overseas through retail banks. Expect to receive approximately HK$736.29, not including additional banking fees. That is an average saving of HK$33.33.
      Currency exchange rate in the last 30 days

      Need more information?

      Read useful guides on international remittance and more detailed reviews on the best money transfer services.

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