Features of bank transfers in Hong Kong dollars (HKD)
When travelling to Hong Kong, exchanging foreign currency for local currency can be difficult. Knowing some information about Hong Kong currency and exchange methods will be helpful. The Hong Kong dollar (HKD) is the official currency of Hong Kong, which is divided into 100 cents. HKD is also accepted in the neighbouring Chinese city of Macau.
About the currency
HKD banknotes are issued under the Hong Kong Monetary Authority (HKMA) supervision by the city's three commercial banks, HSBC, Bank of China and Standard Chartered.
There are different series of banknotes issued by these banks, images may vary.
Coins ranging from 10 cents to HK$10 are issued and distributed by the local government.
As of 1 September 2023, 1 Hong Kong dollar (HKD) was equal to US$0.12.
HKD bank transfer options
Several main ways of transferring to or withdrawing from a bank account in Hong Kong can be distinguished:
- Classic intrabank or interbank payments.
- Global payment system Wise.
- American payment system Xe provides services in many countries of the world.
- Xoom service from PayPal. Allows sending both to a bank account and to cash points.
- World money transfer system Western Union.
The methods differ in the main parameters — the speed of crediting, requirements to the client, commissions, cancellation and refund policy, and much more. Choosing the one that best meets your needs or using online exchangers will not be difficult.
HKD exchange in Hong Kong
For those travelling to Hong Kong for the first time, exchanging currency at the airport is often convenient. You can also visit currency exchange centres in Hong Kong such as:
- Ngau Kee Money Changer
- Travelex
- UAE Exchange
- Shing Kee Money Exchange
- Berlin Company Exchange
All of them have offices in the city.
An alternative and very convenient solution is to exchange HKD by bank transfer through an Internet exchange. With the help of our monitoring, you will be able to find actual services that currently support this direction.
Those wishing to use plastic cards while travelling around Hong Kong can pay in most shops or withdraw money from ATMs.
