How to send money to Hong Kong

Send money to Hong Kong using an international money transfer service and you could beat the bank's rates.

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Around 300,000 Canadians are based in Hong Kong, with thousands more traveling to the region each year for both business and pleasure. Check out our handy money transfer guide if you’re looking to send money to Hong Kong in the near future, to find the most competitive exchange rates and lowest fees.

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    Compare options for sending money to Hong Kong

    Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
    CAD 0 Within an hour CAD 3.99 5.957 HKD
    29,763
    Use code FINDERCA and pay zero fees on your first transfer. Conditions apply.
    An online money transfer service with cash pick-up, bank account to bank account and airtime transfers available.
    Go to site Show details
    CAD 1 1 - 2 days CAD 40.00 5.978 HKD
    29,653
    Make online transfers with transparent exchange rates, low fees and low minimum amounts. Go to site Show details
    CAD 2,000 1 day CAD 0.00 5.865 HKD
    29,324
    Send 60+ currencies at competitive rates with $0 transfer fees for Finder customers. WorldFirst will beat any eligible quote from another provider. Go to site Show details
    CAD 0 1 day CAD 0.00 5.889 HKD
    29,443
    Send money in more than 60 currencies. Fee-free international money transfers with a global brand. Go to site Show details
    USD 150 1 day CAD 0.00 5.919 HKD
    29,593
    TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply.
    Send money overseas in 45 currencies.
    Go to site Show details
    USD 150 1 day CAD 15.00 5.883 HKD
    29,325
    Exclusive offer: Discounted exchange rates for your first and ongoing transactions. $0 transfer fee.
    A higher exchange rate applies to non-finder customers. Send money in 45 currencies.
    Go to site Show details
    CAD 5 1 - 2 days EUR 3.00 5.889 HKD
    29,443
    Special offer: Pay zero fees on your first 5 transfers.
    Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.
    Go to site Show details

    Compare up to 4 providers


    The “Rate” and “Amount Received” displayed are indicative rates that have been supplied by each brand or gathered by Finder.

    Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.

    Banks versus money transfer service

    Since the Hong Kong Dollar is a major global currency, many banks are more than happy to initiate a wire transfer to Hong Kong. That being said, this isn’t always the most affordable solution to send money overseas.

    • Banks. Banks tend to charge fees as high as $80 on top of offering sub-par exchange rates, which means less bang for your buck all around.
    • Money transfer services. Money transfer services like WorldRemit and TransferWise offer fast, easy and affordable transfers across international borders. Comparing services across the board can save you hundreds of dollars in the long run, depending on the size of your transfer.

    Case study: Chu sends money to Hong Kong

    Chu has been living and working in Ottawa for a couple of years and she intermittently sends money home to her parents, who run a small grocery store in Hong Kong. Chu has always used her bank to facilitate wire transfers, but is tired of their sub-par exchange rates and a steep $38 fee per transfer. She decides to compare two online money transfer providers to see if she can track down a better deal. The comparison below is based on exchange rates in the spring of 2018, so check current rates before making your choice.

    Money Transfer Service 1Money Transfer Service 2
    Exchange rates
    CAD$1 = HKD 6.05
    CAD$1 = HKD 6.01
    Transfer fees
    $25
    $10
    Amount received (for $1,000)
    HKD 6,050
    HKD 6,010
    Transfer speed
    2 – 5 days
    1 – 2 days
    Options available
    Bank-to-bank transfer
    Bank-to-bank tranfer
    or cash pick-up

    Chu realizes that she can save HKD 40 (around $6.50) in the exchange rate with the second money transfer option, with an additional $15 in fees. If Chu sends money every month, this amounts to almost $258 over the course of one year.

    How to compare service companies when transferring money to Hong Kong

    • Exchange rates and fees. Check to see which company offers the best exchange rates, but remember that companies with more competitive exchange rates may also charge higher transfer fees to make up the difference. The best way to make sure you get the best deal is to compare quotes from 3 – 4 transfer providers.
    • Transfer methods. Some transfer services specialize in bank-to-bank transfers while others are all about the cash pick-up. Figure out what works best for you and lock in a company accordingly.
    • Bonus features. Check to see if you can place limit orders or forward contracts, which allow you to lock in a favorable exchange rate in advance of your transfer taking place. Ask about setting up a recurring transfer if you’re planning to send money overseas on a regular basis.
    • Turnaround time. Send funds to your recipient in minutes using a cash transfer service or opt to wait 1 – 3 days for another money transfer service.
    • Customer service. Confirm that customer service will be available on command if you have any issues with your transfer, whether through phone, e-mail or live chat support.

    How to send money to Hong Kong from Canada

    • Bank transfers. Many Canadian banks will allow you to send a wire transfer to Hong Kong, but will typically charge an arm and a leg for the service.
    • Online money transfer providers. Money transfer providers like TransferWise and WorldRemit offer a cheap and affordable service that will almost always beat out the bank.
    • Cash transfer agents. Consider sending funds through Western Union or MoneyGram so that your recipient can pick up cash from an agent location within minutes.
    • Cheques. International guaranteed cheques are a secure way to send money overseas, but this transfer method typically takes several weeks to reach your recipient.

    Emergency cash transfers in Hong Kong

    Western Union and MoneyGram both allow you to send cash for pick-up at hundreds of agent locations across Hong Kong within minutes. It’s important to remember that cash transfers are almost always more expensive than bank-to-bank transfers. If you have a flexible timeline, it can pay to look at companies like TransferWise or TorFX to complete your transaction.

    Tips for picking up cash

    The Government of Canada recommends that Canadian visitors to Hong Kong exercise a normal degree of caution (as of 30 September 2018). Petty crime such as pickpocketing and purse snatching occurs, particularly at the airport, on public transportation, in main tourist shopping areas and on crowded streets. If you do need to collect cash, look for an agent location in a safe neighborhood and call ahead to make sure they’ll have cash on hand. Visit during daylight hours in the company of a good friend and return to your hotel to stow your cash in a safe place as quickly as possible.

    How to send money to Hong Kong

    There are plenty of options to choose from when you need to send money to Hong Kong, most of which require you to sign up for an account before sending your transfer. The exact registration process differs between companies, but you’ll generally need to provide the following information:

    • Full name, address and banking information for both you and your recipient
    • Proof of identity to confirm your account
    • Total amount you want to send along with currency

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