Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.
How to send money to Hong Kong
Safe, secure and cost-effective transfer options when you need to send money to Hong Kong.
Updated . What changed?
Online money transfer companies usually offer the lowest fees and the most competitive exchange rates, often beating your local bank by a long shot when sending money to Hong Kong. You’ll need to send cash if your recipient doesn’t have an account with a supported bank, so compare options to find the best deal for your situation.
Send money to Hong Kon with OFX
No-maximum limit transfers with competitive exchange rates for 100+ currencies.
- Support for 55+ major and exotic currencies
- Competitive rates and no transfer fees
- Multiple transfer options include forward contracts and limit orders
Compare options for sending money to Hong Kong
Use our comparison calculator to assess transfer fees, exchange rates and other details for sending funds to Hong Kong with our money transfer partners.
Find the best provider for your transfer
Answer three quick questions and we'll give you an instant recommendation for a money transfer service based on your needs.
Question 1 of 2
Based on your answers, check out:
What's in this guide?
- Compare options for sending money to Hong Kong
- How to send money to Hong Kong online
- What are the ways that I can send money to Hong Kong
- How to get the most out of your money transfer to Hong Kong
- Hong Kong's exchange rates explained
- Documents needed for sending to and receiving money in Hong Kong
- What to watch out for
- Bottom line
How to send money to Hong Kong online
Sign up and send money with a digital money transfer specialist in four steps:
- 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 preferred payment method.
- Provide transfer details. Submit your recipient’s contact information and pick a delivery method. If transferring to a bank, you’ll need their bank account information from Hong Kong.
- Confirm transfer details. Double-check your payment method, expected fees and destination.
- Save your receipt. Record your receipt’s confirmation number to track the progress of your transfer to Hong Kong. Some money transfer providers send a text or email when your transfer is complete.
What are the ways that I can send money to Hong Kong
- Bank transfers. Many major US banks will allow you to send money to Hong Kong.
- Money transfer providers. Providers like TransferWiseand CurrencyTransfer can help you quickly and easily transfer your money online.
- Providers with cash pickup. Western Union, WorldRemit and MoneyGram allow you to send funds for cash pickup at agent locations.
- PayPal. Electronic payment giant PayPal allows you to send money from the US to Hong Kong.
- Checks and money orders. Although not a quick option, you could send an international check overseas, obtained from your bank or US Postal Service.
What’s the best way to send money to Hong Kong?
Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to Hong Kong. Some offer cash pickup in as little as a few minutes, while others seamlessly transfer to bank accounts. Sending money through PayPal or your bank is also an option, but you’ll typically face higher fees and weaker exchange rates when going that route.
Digital money transfer services
Companies like WorldRemit specialize in foreign currencies, making them some of the most cost-effective transfers. Most offer transfers directly to your recipient’s Hong Kong bank account, often in as little as a day or two.
Services like MoneyGram, WorldRemit and Western Union allow you to transfer cash for pickup at a local branch in Hong Kong — 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.
The Hong Kong dollar isn’t a popular currency, so your local bank may not be able to exchange it. If your bank does support the Hong Kong dollar, beware of high fees and wide margins on the exchange rate compared to digital and other options when sending a wire transfer to Hong Kong.
Let’s crunch the numbers: Sending $2,000 to Hong Kong
Let’s say you need to send $2,000 to family in Hong Kong. Here’s what you might face as far as fees and exchange rates as of June 19, 2020.
|Digital money transfer service||Cash transfer||Bank transfer|
|Fee||$16||$3.99||$25 + additional correspondent bank fees|
|Exchange rate||1 USD = 7.75 HKD||1 USD = 7.72 HKD||1 USD = 7.29 HKD|
|Transfer speed||1-2 day||Minutes||2-5 days|
|Amount received||HKD 15,377||HKD 15,405||HKD 14,398|
The bank option ends up being both the slowest and gets the smallest amount of money to your recipient in Hong Kong. If you go with the cash transfer service, your recipient ends up with HKD 979 more than the bank offers. If speed is crucial, a cash transfer can typically have your transfer to Hong Kong in as little as 15 minutes, just make sure there is a cash pickup location near your recipient before sending.
How to get the most out of your money transfer to Hong Kong
Weigh costs and fees against convenience to learn how to compare money transfer providers that send to Hong Kong to best meet your needs:
- Exchange rates. The USD-HKD relationship fluctuates occasionally, so using a service that allows you to lock-in exchange prices may help you save money down the line if the Hong Kong dollar rises against the US dollar.
- 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 USD-HKD 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 amount of pounds you’re sending to Hong Kong.
- 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 Hong Kong.
- Sending limits. Comparing prices for one large transfer instead of many small transfers is typically easier, so picking the service you use based on how much you’re sending is a valid strategy for saving money.
- Transfer methods. Whether you want money sent to a Hong Kong bank account or picked up as cash at a local agent, narrow down a company that matches your preferred delivery method.
Emergency cash transfer
When urgency trumps cost to get your money to Hong Kong 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 Hong Kong 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.
Hong Kong’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. Hong Kong’s exchange rate is flexible compared to the US dollar, and the USD-HKD relationship fluctuates often. Factors that may influence the exchange rate include interest rates, economic stability and inflation.
Track how the Hong Kong dollar trades against the US dollar in our historical rate chart.
Documents needed for sending to and receiving money in Hong Kong
To send money to Hong Kong from the US, you’ll need government-issued ID and other documents, while documents needed to pick up money in Hong Kong may differ by company.
Documents to send money from the US
To send money from the US to Hong Kong, you’ll need documentation and details that include:
- Identification. Most services require a driver’s license, passport or other government-issued ID. Some services allow you to send transfers without ID, but they may require your SSN.
- 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 and Hong Kong bank account information.
Documents to receive money in Hong Kong
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, an MTCN, a reference number or a tracking number, depending on the company.
- Government-issued ID. A Hong Kong Special Administrative Region passport, Hong Kong ID or similar official ID may be required to pick up your transfer.
- 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
Sending money to Hong Kong may be subject to taxes on the money transfer, but it depends on a lot of variables. In general, any large transfers being sent from the US to Hong Kong should be filed with the IRS to avoid any penalties. To learn more about what penalties you may face by failing to file your transfer, read our guide on IRS taxes for large money transfers.
Sending your hard-earned money to Hong Kong shouldn’t cost a fortune. Compare money transfer companies that specialize in foreign transactions 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.
Read more on this topic
US remittance statistics We've unpacked the most recently available data from the World Bank to get an idea of how much money is being sent around the globe.
Best ways to send money online Navigate the world of sending money domestically and internationally with our hand-picked list of popular services.
XE vs. OFX money transfers Check out this side-by-side comparison of XE and OFX to find out which provider offers the best value on international money transfers.
Alternatives to InstaReM Find the best alternative websites to InstaReM for online money transfers.
XE vs. Western Union We compare XE's and Western Union’s fees, exchange rates and transfer speeds side by side.
Remitly vs. PayPal Compare a well-known payments giant to the newer Remitly and see which one can give you a better deal.
Remitly vs. TransferWise Remitly and TransferWise’s fees, exchange rates and speeds compared side by side.
How to send money to Guinea Compare the services that send money to Guinea. Find out how to get the best value for your money, how long it takes and what to look out for.
Best places to exchange currency in Sydney Your guide to currency exchange services in Sydney, including where to find the best exchange rates and lowest fees.
Best places to exchange currency in Winnipeg Looking for the best deal on Canadian dollars in Winnipeg? Compare popular services and access handy tips to get the most out of your next transfer.
Ask an Expert