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How to send money to the USA

Secure, affordable ways to send money from overseas to the Land of Opportunity from Hong Kong.

For a cost-effective way to send money to the United States, it’s best to keep an eye out for services offering the following:

  • Zero transfer fees. You can’t get lower than that.
  • The best rates. Investigate brands that guarantee to beat any competitor’s exchange rate.

We’ve assembled a list of these services so you can compare the cheapest method to send money from Hong Kong to the USA.

Send money to the USA with WorldFirst

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.

  • Worldwide access
  • Low exchange rates and fees
  • 24 hour online payments system
  • Fast international payments process
Promoted

Compare your options of money transfer

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 10 1 - 2 days HKD 25.00 0.127 USD
1,270
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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SGD 1 1 day HKD 42.00 0.129 USD
1,281
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 10 1 - 2 days HKD 140.00 0.129 USD
1,268
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 50 1 day HKD 35.00 0.129 USD
1,282
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.
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USD 1 Within an hour HKD 20.00 0.128 USD
1,279
使用優惠代碼FREE,你的首次匯款即可享免手續費。條款及條件適用。Use promo code FREE to send your first transfer with no fee. T&Cs apply.
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.
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USD 2,000 1 day HKD 0.00 0.127 USD
1,267
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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GBP 5,000 1 - 2 days HKD 0.00 0.127 USD
1,267
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

Compare up to 4 providers

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

What’s the best way to send money to the United States?

Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to the US. Some offer transfers straight to US bank accounts, while others allow the money to be picked up in US dollars in person. Banks, PayPal and other options are available but come with high fees, weak rates and longer turnaround times.

Digital money transfer services

Companies like Wise and CurrencyFair specialise in foreign currencies, making them some of the most cost-effective transfers. Most offer transfers directly to your recipient’s US-based bank account, often in as little as a day or two.

Cash transfers

Services like MoneyGram allow you to transfer cash for pickup at a local branch in the US — often in 15 minutes. While it’s a fast way to send money, you’ll pay for the convenience in weak exchange rates and high fees. Compare MoneyGram to Western Union when possible to save money on your transfer.

Banks

US dollars are almost certainly carried by your bank, especially if you live in Asia, Europe, Canada or anywhere that often trades with the United States. Although your local bank can convert your currency into US dollars, beware of high fees and wide margins on the exchange rate compared to digital and other options.

How to send money to the US online

Sign up and send money with a digital money transfer specialist in four steps:

  1. Sign up for a free account. Pick a provider and sign up for a free online account using your contact information, proof of ID and your preferred payment method.
  2. Provide transfer details. Submit your recipient’s contact information and pick a delivery method. If you’re transferring to a bank, you’ll need your recipient’s US-based bank account details.
  3. Confirm transfer details. Double-check your payment method, expected fees and destination.
  4. Save your receipt. Record your receipt confirmation number to track the progress of your transfer to the US. Some money transfer providers send a text or email when your transfer is complete.

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

Suppose you need to send 10,000 HKD from Hong Kong to the US. Here’s what you might face as far as fees and exchange rates as of 8 Jan, 2021.

Digital money transfer serviceCash transferBank transfer
Fee4.00 USD (~31.00 HKD)8.00 HKD65.00 + additional correspondent bank fees
Exchange rate1.00 HKD = 0.12882 USD1.00 HKD = 0.1277 USD1.00 HKD = 0.12845 USD
Transfer speedSame dayMinutes2-5 days
Amount received1284.20 USD1,275.79 USD1276.16 USD
Verdict
  • Best value
  • Fastest
  • Slowest

The difference in amount received between cash transfer and bank transfer isn’t that much. However, if we take that additional correspondent bank fees into account then the bank would have the worst deal and the slowest process time. If you use a digital money transfer service, you will save at least 8.04 USD compared to the bank.

How to get the most out of your money transfer to the USA

Weigh costs and fees against convenience, and learn how to compare money transfer providers that send to the US to meet your needs:

  • Exchange rates. The HKD-USD relationship fluctuates daily, so using a service that allows you to lock in exchange prices may help you save money down the line if exchange rates take a nosedive in the future.
  • Transfer fees. Transferring money overseas nearly always requires fees, but they might be hidden in the exchange rate. When sending large amounts, it may be cheaper to pay a flat fee to secure a stronger exchange rate.
  • Transfer limits. How much you can send varies by company, and different amounts can attract higher or lower fees. Shop around for the best deal on the number of US dollars you’re sending.
  • Turnaround. Transferring money through a local bank can take a business week or longer. If you need the funds delivered quickly, seek out a digital specialist that offers instant transfers to the United States.
  • Maximum limits. When exchange rates are favorable, sending more money can save you money in the future. If you plan to send large amounts of money to the US, be sure to pick a provider that won’t limit you.
  • Transfer methods. Whether you want money sent to a US-based bank account or picked up as cash at a local agent, narrow down a company that matches your preferred delivery method.

Emergency cash transfer to the US

When it’s more important to get your money to the US quickly, look for money transfer companies that support cash pickup in minutes. You can pay with a credit or debit card for fast pickup, but fees are higher than other methods.

How to send money to the US without a bank account

Cash transfer services can help you if you’re unbanked or marginally banked. If you don’t have a bank account, look for a local company that supports storefronts for cash payments. These services include agent locations in other countries that allow your recipient to pick up cash without a bank account.

US’s exchange rates explained

The exchange rate determines how much one country’s currency is worth in another country’s currency. When a country’s currency is strong, it yields more money when exchanging it in a country with a weaker currency. US’s exchange rate is flexible compared to the HK dollar, and the HKD-USD relationship typically changes daily. Factors that influence the exchange rate include interest rates, economic stability and inflation.

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Updated: 26 Oct 2021 06:46:26 UTC

Documents needed for sending to and receiving money in the US

To send money to the US from Hong Kong, you’ll need government-issued ID and other documents, while documents needed to pick up money in the US may differ by company.

Documents to send money to the US

To send money from Hong Kong to the US, you’ll need documentation and details that include:

  • Identification. Most services require a driver’s license, passport or other government-issued ID.
  • Payment method. Your service may accept credit or debit cards, cash, bank accounts or personal checks.
  • Recipient information. Submit your recipient’s name as it appears on their ID, along with their phone number, US bank account and routing number if sending to their bank.

Documents to receive money in the US

To pick up money in person, documentation can include:

  • Transfer number. The person sending you money can forward the transfer’s confirmation details — called a PIN, a MTCN, a reference number or a tracking number, depending on the company.
  • Government-issued ID. A US government-issued ID is almost always required to pick up cash, but you may be able to set a passphrase if your recipient doesn’t have any valid ID.
  • Amount sent. You may need to know how much was sent, usually within 10% of the total.
  • Sender’s information. Take along your sender’s full name, the sending country and their address, if known.

What to watch out for

Most money transfers to the United States may be subject to taxes, depending on their amount and place of origin. Unfortunately there are a lot of variables in play, but typically it is always better to report large money transfers to the IRS on your tax forms.

There are a variety of reasons you may be sending money to the US, including repatriating funds you earned abroad. Being extra vigilant about the reasons you’re sending money to the US can save you large fees and possible jail time in the future by paying the appropriate taxes now.

Bottom line

Sending your hard-earned money to the US shouldn’t cost a fortune. Compare transfer companies that specialize in foreign currencies for the strongest rates, lowest fees and flexible delivery. For transfers to other countries, rely on our country-specific guides the next time you need to make a transfer.

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