International money transfers

Are you looking for a suitable international money transfer option? There are more foreign exchange businesses than ever that enable you to send money overseas in minutes. Whether you need to send money back home or pay an employee based overseas, specialist international money transfer companies can give you a better deal than your bank.

Send money internationally with Wise

以透明的匯率，低收費及低最低金額的網上服務作匯款。
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.

• 受政府監管
• 支援超過45+種貨幣
• 使用中端市場匯率

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Compare money transfer services

Our table below lets you compare the services you can use to send money overseas. By inputting how much you want to transfer and to what currency, you’ll be shown live exchange rates, fees and more.

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Name	Product	Minimum Transfer	Transfer Time	Transfer Fee
Wise (TransferWise)		HKD 10	1 - 2 days	Varies	以透明的匯率，低收費及低最低金額的網上服務作匯款。 Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.	Go to site More Info		loading Fetching your data...
CurrencyFair		HKD 5	1 - 2 days	HKD 25	新客戶可享有首三個月無限次免手續費匯款。New customers get 3 months of unlimited free transfers. 可用15+種貨幣匯款，享有超越銀行的匯率以及快速轉賬時間。 CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.	Go to site		loading Fetching your data...
Skrill		HKD 60	1 day	HKD 0	Skrill能令你輕鬆匯款至多個熱門目的地，可是要留意其加上的手續費。 Skrill offers easy transfers to many popular destinations, but keep an eye out for added fees.	Go to site		loading Fetching your data...
SingX		HKD 1	1 day	Varies	你首兩次港幣$15,000或以下的匯款，手續費全免。Pay no fees on your first two transfers, up to HK$15,000. 象徵式收費以及中間價匯率，可匯款至高達30多個國家。 SingX offers the real exchange rate every time you make a transfer and can help you send money across the world.	Go to site More Info		loading Fetching your data...
InstaReM		HKD 50	1 day	Varies	獨家優惠：使用代碼FINDER10，你的頭一次匯款即能享有$10美元折扣。Use code FINDER10 to receive US$10 off your first transaction. InstaReM 提供簡單的匯款服務，大部分的匯款劃一收取0.5%的手續費。InstaReM offers simple transfers with a flat 0.5% transfer fee for most transfers.	Go to site More Info		loading Fetching your data...
WorldFirst		HKD 1	1 day	HKD 0	非Finder客戶將獲得較昂貴的匯率。 Better exchange rates for Finder customers. 可用超過130種貨幣匯款。 WorldFirst sends 60+ currencies at competitive rates with no fees. If you find a better eligible quote, WorldFirst will beat it.	Go to site More Info		loading Fetching your data...
WorldRemit		HKD 1	Within an hour	Varies	提供現金提取、銀行戶口之間轉賬與及Airtime匯款選擇的網上匯款服務，。 WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.	Go to site More Info		loading Fetching your data...
CurrencyTransfer		HKD 5000	1 - 2 days	HKD 0	可匯款至20+個國家，無手續費。 CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.	Go to site		loading Fetching your data...
TorFX		HKD 2000	1 day	HKD 0	TorFX保證提供最佳的匯率。需受條款約束。TorFX guarantees to match any competitor's exchange rate. 以30種貨幣匯款到全球。登記後，將會有一個客戶經理提供支持和引導。 TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.	Go to site More Info		loading Fetching your data...

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What is an international money transfer?

An international money transfer is what happens when you send money to someone overseas. You provide funds and your recipient’s details to a bank or an independent transfer provider, which then exchanges the money into your desired currency and sends it to your recipient. You can send money over the phone, in person, through a mobile app or online.

Learn more about money transfers for:

• Marketplace sellers

• Businesses

How do international money transfers work?

An international money transfer is the process of sending money overseas. These services specialise in foreign exchange services.

Generally, you open an account with the service, deposit the money you want to send via your local bank account so you’re not charged any fees. Then, you indicate what country you want to send the funds to by providing the recipient’s IBAN/SWIFT number and account number. The service then processes the transaction for you, which is usually at a better exchange rate and with lower fees due to economies of scale.

Most international bank-to-bank transfers are expensive and slow. You can get a better deal on international money transfers using a dedicated foreign exchange company, such as Wise, Western Union or SingX. There are two types of international money transfer providers: online-only companies and those with storefronts. These services offer more ways to pay and collect cash.

How do I choose an appropriate international money transfer for my situation?

In general, there are two situations in which travellers, expats and working holiday-makers find themselves in:

Situation 1

• Your primary aim is to work.
• You have bank accounts in both countries (or your recipient has one).
• You’re sending reasonably large sums of money – greater than HKD$50,000.

Situation 2

• You don’t have a bank account in the destination country.
• You’re passing through the country.
• You’re sending reasonably small sums of money – less than HKD$50,000.

There are two main options to help you out if you fall into situation one:

• Option A. Use a dedicated money transfer company with zero or low fees and a competitive exchange rate (typically 1-2% less than mid-market rate).
• Option B. Use your bank and pay fees up to HKD$220 (standard branch rate, an internet/online banking fee may be waived or lower) and get unfavourable exchange rates (typically 2-4% less than mid-market rate).

If you fall into situation two, there’s one option you can take:

• Option C: Use a remittance company.

How to transfer money internationally

There are two main ways to send money out of Hong Kong: a specialist money transfer service or your bank. Both banks and transfer services offer online transfers, with some offering in-branch transfers or the ability to send money over your phone via an app or calling an agent.

We’ll go through the steps each method takes if you were sending online.

• Money transfer apps

• Cash pick-up transfers

• Best services

Tips on your international transfer

While there’s no best way to transfer funds overseas, there are a few things you can do to make it cheaper.

• Know your transfer currency’s mid-market rate. This rate is the midpoint between worldwide supply and demand for that currency – and the rate banks and transfer services use when they trade among themselves. Use it as a baseline to compare against the rates you’re being offered. The company that’s closest is offering you the best rate.
• Send more money per transfer. Many services discount the fees or waive them altogether when you send larger amounts.
• Use forward contracts and limit orders if sending money regularly. A forward contract allows you to lock in a favourable exchange rate for future transfers. This means you’ll avoid unpredictable movements in exchange rates. A limit order allows you to wait until a favourable exchange rate is found, and then lock it in for your transfer.
• Don’t transfer money internationally using your bank account. International money transfers from your bank account can be an expensive way to send money overseas. Use comparison services and websites to shop around and find the best deal.
• You should be aware of any limitations and sanctions placed on the recipient country. International money transfers can be collected as cash in some countries; while bank account deposits are the only transfer option in other countries. International money transfer services such as Western Union offer different collection options for different countries. Furthermore, due to government regulations, you won’t be able to send money to various countries.

What should you watch out for?

Keep an eye out for the following when you send money overseas:

• Hidden fees. No transfer is truly free. If a service is advertising “fee-free transfers”, there’s probably a larger margin added to the exchange rate. Compare the rate you get quoted against the mid-market rate (which you can find on Google) to see if you’re getting a good deal.
• Fake rates. If you see a great exchange rate advertised on a provider’s website, make sure the rate you see is the rate you will actually receive. Some companies advertise the mid-market exchange rate, which is the rate at which banks purchase foreign exchange, rather than the rate they actually offer their customers.
• Failing to do your research. If you want to save some money, compare several transfer providers before choosing one to sell your transaction. Shop around for a company that offers reliable and affordable transfers, instead of just diving in head-first.
• Scams. Scams cost Hongkongers 1.3 billion dollars in 2019. With this number increasing each year, it’s important to keep an eye out for the most common scams. In general, it’s best to only send money to someone you know personally.
• Taxes and regulation. Each country regulates money transfers differently. Make sure you’ve read up on if your recipient needs to pay taxes on the money they’re being sent. Other countries, like India or the US, have stricter regulations.

Other frequently asked questions

• How long does an international money transfer take?

  The length of time it takes for your money to arrive depends on the transfer service you choose and how you pay. In general, if you pay with credit or debit card, your money will arrive fast – often within the day. Paying by bank transfer is a lot slower and will generally take two to five days to clear.

  You can read more about what to expect and the different factors affecting transfer speed in our guide.

• Are there limits to how much I can send?

  You can send as much or as little as you want, but it all depends on the service you choose. Some are aimed at bigger transfers and will have minimums that can get as high as $100,000. You can also find several that specialise in smaller transfers and have minimums as low as $0.01.

  Minimum amount for some service providers:

  • Travelex – $2,000 minimum.
  • Wise – $0.01 minimum.
  • MoneyGram – Minimum amount depends on receiver location.
  • Instarem – $100 minimum.
  • WorldFirst– $10,000 minimum.
  • Citibank Global Transfers – $500 minimum.
  • HSBC – $1 minimum.
  • Heng Seng Bank – Minimum dependent on receiver location. E.g.$80 to GBP; $160 to USD minimum
  • UAE Exchange – $0 minimum on bank transfers but for cash pickups minimum depends on the receiver location.
  • Ngau Kee Money Exchange – $0 minimum.
  • Kin Shing Money Exchange – $5000 minimum.
  • CurrencyFair – $100,000 minimum.

• What currencies can I send overseas?

  All transfer services will let you send the major international currencies, however not all international money transfer providers will let you send exotic currencies. While you can find a provider to let you send the world’s top 200 international currencies, your choices for less popular currency may be limited.

• Can I instantly send money overseas?

  There are some services which let you send money to be picked up as cash by your recipient almost instantly. These include WorldRemit, Western Union and Travelex. If you send money to be picked up as cash with these services, you can expect the following transfer times:

  • WorldRemit – Instantly.
  • Western Union – Within minutes.
  • MoneyGram – Usually takes 10 minutes before funds are available.
  • Citibank – In some countries, transfers occur immediately.
  • HSBC – In some countries, transfers occur immediately instantly
  • UAE Exchange – Instantly
  • Travelex – Depending on the destination, transfers are normally available for pick up within minutes.
  • Ngau Kee Money Exchanger – One to three working days

• Is there such a thing as a free international money transfer?

  There are a number of providers that won’t charge fees for international money transfers. These include Citibank (Citibank Global Transfers), TorFX and HSBC Premier or Advance accounts. Keep in mind that even if a service is free, you might pay through a margin applied to the exchange rate. Some services even offer free transfers for transactions over a certain amount. Check with your provider to see if such services are available.

Sending to a specific country? Learn more

• China

• India

• Macau

• Philippines

• Taiwan

• Thailand

• UK

• USA

View all countries