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How to send money abroad

Identify the pitfalls to avoid when you’re planning to send money abroad from Hong Kong.


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Times have changed, and you have more options than ever available to you when deciding how to send money abroad from Hong Kong. And more money transfer services means having more details to sift through.

Your transfer’s total cost is one important factor, but only the tip of the iceberg in getting the lowest price. Benefit from our 14+ years of money transfer experience with these key tips.

Compare money transfer services to help you send money abroad

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 10 Within an hour HKD 90.00 0.117 EUR
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 Show details
USD 10 1 - 2 days HKD 25.00 0.116 EUR
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.
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USD 60 1 day HKD 0.00 0.117 EUR
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 Show details
SGD 1 1 day HKD 48.00 0.117 EUR
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.
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USD 50 Within an hour HKD 35.00 0.117 EUR
使用優惠碼「FINDER」可於首兩宗HK$1500或以上的轉賬交易獲得HK$100折扣優惠。Use code FINDER to get HKD 100 off on first two transfers on a min transfer of HKD 1500.
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.
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GBP 5,000 1 - 2 days HKD 0.00 0.115 EUR
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 Show details
USD 2,000 1 day HKD 0.00 0.115 EUR
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.
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Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

Tips on how to send money abroad

While your ideal option depends on how much you send, how you pay for the transfer and where you send funds to, some industry-wide key tips include:

  • Use a comparison table. Review the prices of many different money transfer services at once to help you understand what fees exist and how to best avoid them.
  • Plan ahead. It’s best to plan your money transfer as far in advance as possible, but if you need to make an emergency transfer in Hong Kong, read on to find the best deal.
  • Don’t bet on your bank. Banks are great for domestic money management, but once you get into international transfers, banks tend to offer worse exchange rates and higher fees.

Can I use my bank to send money abroad?

Most banks in Hong Kong allow you to send money abroad, but high fees and poor exchange rates are good reasons to look elsewhere.

Let’s crunch the numbers: Sending 10,000 HKD to Europe.

To put this into perspective, let’s see what a transfer with each of these options looks like. This table uses real fees and exchange rates and is current as of 3 Jan, 2022.

Bank transferCash transferMoney transfer service
Fee65.00 HKD + additional correspondent bank fees8.00 HKD44.05 HKD
Exchange rate1.00 HKD = 0.112268 EUR1.00 HKD = 0.111979 EUR1.00 HKD = 0.113012 EUR
Transfer speed2-5 daysWithin minutesSame day
Amount received1,115.388 EUR1,118.89 EUR1,125.14 EUR
  • Slowest and most expensive
  • Fastest
  • Best value

The bank option is the slowest and transfers the least amount of money to your recipient. If you go with the specialist money transfer service, your recipient ends up with more than what they would have had from the bank. However, if speed is what’s most important, the cash transfer can’t be beaten for nearly instant transfers.


How can I save money when I send money abroad?

Fees vary widely depending on the provider you choose for the transfer. Overall, money transfer providers in Hong Kong make money on your transfer in two ways: by marking up the exchange rate and by charging you a transfer fee.

  • Compare exchange rates. Use your currency’s mid-market rate as a baseline to compare against the rates you’re offered. Focus on providers that offer the closest rates.
  • Send more money per transfer. Many providers discount transfer fees or waive them altogether when you send larger amounts.
  • Look for hidden fees. Avoid surprises by reading the fine print for fees that could apply to your transfer, including charges your recipient will need to pay.
  • Sniff out special offers. Keep an eye on promotions that offer, for example, no fees on your first transfer. While ideal for limited transfer needs, you could also end up with a new preferred service.
  • Shop around. The best way to save is by comparing rates, fees and transfer speeds from each provider, closely looking at their benefits and drawbacks.
  • Use forex tools. Certain online money transfer providers help you save on rates with forex tools like forward contracts, limit orders, and automated transfers.

What’s the best way to send money abroad?

Because nearly everyone’s sending circumstances are different, the best way to send money internationally varies. Overall, using a digital money transfer provider to complete your transfer is one of the cheapest ways to send money because the company you’re sending through has fewer overhead costs.

We’ve curated a list based on common sending circumstances, so read up on our top money transfer picks for cash transfers, strong exchange rates and more.

Can I send money abroad without a bank account?

Yes. Even though most methods used to send money abroad require that you either have access to a bank account, a debit card, a credit card or cash, you have options.

How to send money abroad without a bank account

  1. Money transfer paid in cash
  2. Credit card payment to an online transfer agency
  3. Send funds through a mobile wallet

How to receive money without a bank account

  1. Transfer funds to a money transfer physical branch for cash pickup
  2. Spend a prepaid debit card received by mail
  3. Receive directly to a mobile wallet
  4. Cash a money order received by mail

    Bottom line

    It doesn’t have to be expensive to send money abroad from Hong Kong, and fees differ depending on what country you send to. Countries where online money transfers are more common tend to have lower fees, while other countries may be more expensive. If possible, plan in advance to secure the best rates for your transfer.

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