How to send money to Portugal

Hunting around for the best exchange rate and lowest fees can save you money when you need to transfer funds to Portugal.

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Finding the best exchange rate coupled with low fees can be a pain, but it doesn’t have to be. When you compare money transfer companies, banks and other similar services, you can quickly find the best way to send money from Hong Kong to Portugal. Some options even allow your recipient to collect money within minutes – just watch out for higher fees and less favourable exchange rates.

Compare money transfer services to Portugal

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 60 1 day HKD 0.00 0.109 EUR
1,088
Skrill offers easy transfers to many popular destinations, but keep an eye out for added fees Go to site Show details
USD 10 1 - 2 days HKD 90.00 0.109 EUR
1,083
以透明的匯率,低收費及低最低金額的網上服務作匯款。 Make online transfers with transparent exchange rates, low fees and low minimum amounts. Go to site Show details
USD 5 1 - 2 days HKD 25.00 0.108 EUR
1,079
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。 Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.
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USD 50 1 day HKD 35.00 0.109 EUR
1,089
快捷又簡單的國際匯款服務,大部分匯款收取固定的0.5%手續費。部分貨幣更不設保證金率。 Quick and simple international money transfers with a flat 0.5% transfer fee for most transfers. Zero-margin rates on some currencies. Go to site Show details
USD 1 1 day HKD 0.00 0.108 EUR
1,076
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。 Send money in more than 130 currencies.
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USD 1 Within an hour HKD 20.00 0.109 EUR
1,086
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,。 An online money transfer service with cash pickup, bank account to bank account and airtime transfers available. Go to site Show details
USD 100 1 day HKD 15.00 0.108 EUR
1,075
非Finder客戶將獲得較昂貴的匯率。 Better exchange rates for Finder customers.
可用45種貨幣匯款。 Send money in 45 currencies.
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GBP 5,000 1 - 2 days HKD 0.00 0.108 EUR
1,076
可匯款至20+個國家,無手續費。 Transfer money to 20+ countries with no transaction fees. Go to site Show details
USD 2,000 1 day HKD 0.00 0.108 EUR
1,076
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。Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.
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Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

Banks versus money transfer companies

When people are looking to make a money transfer, their first thought is to use a bank, but this isn’t always the best idea. Banks can be convenient, especially when you’re converting dollars to euros, but they often have higher fees and less favourable exchange rates.

A cheaper and faster option may be to go with a dedicated money transfer company. These can send money transfers anywhere in the world, and they often offer better exchange rates, lower fees and quicker processing times than their bank counterparts. Your recipient can choose to have their cash deposited into their bank account or to pick it up at an agent location, whichever is more convenient.

How do I compare transfer companies when sending money to Portugal?

  • Exchange rates. The better the exchange rate you get, the more money will arrive in your recipient’s pocket. Shop around for a company that offers great exchange rates, but watch out for companies that attach high transfer fees to their attractive exchange rates.
  • Transfer fees. Consider how much it will cost you to send a transfer. Fees can vary substantially from one provider to the next, and some companies will even allow you to avoid their fees if you transfer a large amount of money.
  • Transfer methods. Find out how you can make a transfer. Some companies work entirely online, while others allow you to visit a local branch or call over the phone. Pick a company that offers a convenient method for your needs.
  • Transfer options. Ask if the company offers forward contracts that allow you to lock in an ideal exchange rate now and transfer money later, or limit contracts that allow you to take advantage of changing market conditions by completing a transfer when a certain exchange rate is met.
  • Transfer time. Make sure you look at how long it will take for the funds you send to make it to your recipient. If a company claims to offer super-fast transfers, you might have to be prepared to pay extra for this service.
  • Minimum amounts. Check to see whether there are any minimum transfer limits that you must meet with each transaction and whether it is feasible for you to do so.
  • Pick-up methods. See if your recipient can pick up the money as cash or have it directly deposited into a bank account.
  • Customer service. Check the customer service options available so that if you need help, you can access it quickly and easily.

Foreign exchange rates explained

The exchange rate determines how much one country’s currency is worth in another currency. A strong currency will yield more money when exchanging it for a weak currency. Portugal is in the heart of the eurozone and uses the euro as its currency. The euro’s exchange rates is flexible, so it can change from moment to moment. Factors that influence the exchange rate include interest rates, economic and political stability and inflation.

What are my options for sending money to Portugal from Hong Kong?

  • Online money transfer companies. Known for their attractive exchange rates, low transfer fees and convenient transfer options, online money transfer companies like OFX andWorld First can help you send money from Hong Kong to Portugal.
  • Cash pick-up transfer companies. If you want to send funds to Portugal and allow your recipient to collect cash from an agent location, companies such as Western Union and MoneyGram can help. Your recipient can visit an agent location anywhere in Portugal to pick up their euros at a time convenient to them.
  • PayPal. PayPal’s international money transfer service makes it affordable to send smaller amounts of money to Portugal and other locations around the world.
  • Bank transfers. Most Hong Kong banks can help you send funds to countries in all four corners of the globe, but banks offer higher fees and mediocre exchange rates when compared to online transfer providers.
  • International cheques. International cheques can be obtained from your bank and sent overseas, but this transfer method is time-consuming and costly.

What are the steps to send money to Portugal?

While the exact process for sending money from Hong Kong to Portugal will vary depending on the transfer provider you choose, you will generally need to follow similar steps.

  1. Compare your options. Use the table above to compare money transfer providers. You can also call your bank or look online to get HKD–EUR exchange rates and a list of possible fees.
  2. Set up an account. You can often do this online and you may need to provide your name, address, proof of ID and bank account details.
  3. Enter details about your transaction. You’ll need to provide details about the amount of money you wish to send, in which currency and where it will be going.
  4. Provide your recipient’s details. Provide cash pick-up or bank account details for your recipient, including their full name.
  5. Pay for your transfer. Submit your transfer and pay for the transaction. In some cases you may need to pass on a reference number to your recipient.

There are plenty of options available when you need to send money to Portugal, so compare the choices at your disposal before you settle on a transfer method.


Emergency cash transfers in Portugal

There are certain situations where you might need to send a transfer as quickly as possible. When you do need to send an emergency transfer, remember that you will usually have to pay extra in order to get your funds to your recipient ASAP. Make sure to check the exchange rate and fees that apply so you know exactly how much it will cost. This is often the more expensive option, so take the time to compare your options and find the best one for your emergency transfer.

Tips for picking up cash in Portugal

If your recipient decides to pick up cash, share these tips to keep them safe from theft.

  • Take a friend along to provide extra security.
  • Don’t display your cash in public.
  • Avoid travelling through any high-crime areas.
  • Don’t carry large sums of money around.
  • Deposit the funds into your bank account as soon as possible.

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