money exchange

Where can I exchange my US dollars into HK dollars in the Wanchai or Causeway Bay areas?

money exchange

Many, many places.

However, you always get a poor rate when exchanging notes. Much better to take a debit card and get money out of ATMs.

money exchange

But i don%26#39;t have an ATM, will a credit card have the same rate?

Hi Pepperchip

A credit card is likely to charge. My credit card company charges a lot compared to my debit card.

However, if you look around for exchange places you will get a good rate. We visited HK August this year and travelled with cash only (don%26#39;t know why we didn%26#39;t use a debit card!).

Usually you will see an exchange place with a poor rate at the front but if you look at the places that are hidden away a bit they give a much better rate, usually better by 1hkd when compared to the 拢.

Kowloon was the easiest to find these, but we found a few in Causeway Bay as well.

Thank you very much for your tips, Dr. Jonesss

Hoi there, actually I have the same question, im going to hk next week %26amp; i was wondering is it better to bring 鈧?in cash or take it via atm, especially nowadays.

Thanks

Please do a search. This topic has been discussed in numerous previous threads.

If in doubt, go to a major bank e.g., Hang Seng, HSBC or Standard Chartered.

ATM gives you the best rates, but you%26#39;ll have to pay a fee to your own bank to use it. Do your own calculation.

Hi. I am not sure if in your country they use the same names for some of the things that I will mention, but I think you should be able to figure out what I mean.

In my experience, I got the best exchange rate by using a debit card (sometimes called a check card or checking account card - this is NOT a credit card even though these cards will have a Visa or Mastercard logo on them - as well as the bank logo - and you can use this card in many machines that accept credit cards) from a bank that has branches in Hong Kong. In my situation, I have an HSBC checking account in the U.S. Using my HSBC debit card, I was able to get cash from HSBC ATMs in Hong Kong with no fees - and for a very good exchange rate. I know in truth that the ';fees'; are actually part of the exchange rate, but even with that considered, the rate was very good.

My HSBC debit card is a MasterCard HSBC debit card. I think this means that I can use it at any ATM that has a MasterCard logo on it. If you look carefully at ATM machines, they often have several small logos printed on the side or the top of the machine that tell you what kind of cards this ATM can accept - not all ATMS are the same. Some ATMS for example will have logos that say like MasterCard, Visa, Cirrus, etc. These are all different types of card systems (I think). From what I remember, when I called HSBC, they said that I could get cash using my debit card at any HSBC ATM and I would be charged any fees. Also, if I used my HSBC debit card to get cash from any non-HSBC ATM that could accept Mastercard debit cards, I would only be charged a fee of USD 1. That was 2 years ago though. You will always want to call your bank to find out the latest rules.

The next best way to get/exchange money (in my experience) is to go to the money exchangers on the first floor of the ChungKing Mansions building at 36-44 Nathan Road in Tsim Sha Tsui, Kowloon. Walk around the first floor and take a look at the exchange rates of each money exchanger until you find one that is good for you. In my experience this has always been a reliable way to exchange money (though I know some others might not agree because they are not a bank).

The next best way to get/exchange money (in my experience) is to go to a bank. That is, for example, say you don%26#39;t have a bank account at any bank in Hong Kong, you can still go to many banks and exchange money if you bring your passport. I did this before at a CITIC bank and I got a pretty good rate.

The next best way would be to go to money exchangers outside of ChungKing Mansions.

The next best way would be to exchange money at the money exchanger at airport (not a very good rate).

The last best way would be to use your credit card to get money from an ATM. This would be considered a ';cash advance'; in the U.S., so you will be charged a higher interest rate, and I am sure the exchange fees would be quite high as well. But, you will want to check with your credit card company to be sure.

I think these are all the methods I have used before.

Hello

Just got back from HK and also received my American Express Credit Card bill. It turned out, American Express gave me a better rate than any exchange in HK. American Express has a one time charge on the bill, very minimal. I felt so sorry that I exchanged money and use cash. I should have use the American Express more in HK.