How to send money to Hong Kong Without High Fees

Information verified correct on January 20th, 2017

Compare international money transfer providers to find the most affordable and convenient way to send money to Hong Kong.

When you need to get money to a loved one overseas, the last thing you want to deal with is navigating a potentially complicated and expensive process. Sending money from the United States to Hong Kong doesn’t have to be expensive. Compare the transfer fees and exchange rates of the options available to you to get the most Hong Kong dollars for your U.S. dollar.

From bank transfers and online transactions to options that allow recipients to collect your funds within minutes, sending an international money transfer to Hong Kong is easy. However, do your research and shop around for the best available deal.

Compare options for sending money to Hong Kong

Rates last updated January 20th, 2017

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Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
Payoneer International Money Transfers
Send Mass Payments To Your ... Send Mass Payments To Your Payees Worldwide
USD 20
OnlinePhone
Rates are always
changing, click to check
your price today
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WorldRemit International Money Transfers
An online money transfer service ... An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.
USD 1 Within an hour
OnlineCash Transfer
Rates are always
changing, click to check
your price today
Go to site More
World First Foreign Exchange
Exclusive offer: $0 transfer fee ... Exclusive offer: $0 transfer fee
Transfer money into a range of currencies online and over the phone.
USD 500 2 days
OnlinePhone
Rates are always
changing, click to check
your price today
Go to site More
Transferwise International Money Transfers
Make online transfers in a ... Make online transfers in a range of currencies and enjoy high maximum transfer amounts.
USD 1 1 day
Online
Rates are always
changing, click to check
your price today
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HiFX International Money Transfers
Transfer money between 20 currencies ... Transfer money between 20 currencies and enjoy scheduled regular transfers. No fee for transfers over US $5,000.
USD 100 2 days
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
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Currencies Direct International Money Transfers
$0 online transfer fee that ... $0 online transfer fee that you can access 24/7.
USD 100 2 days
OnlinePhone
Rates are always
changing, click to check
your price today
Go to site More
OFX International Money Transfers
Exclusive offer: Special exchange rates ... Exclusive offer: Special exchange rates and $0 transfer fee
OFX is currently offering finder.com exclusive exchange rates and $0 transfer fee on all transfers.
USD 150 1 day
OnlinePhoneAgentInternational Money Order...
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changing, click to check
your price today
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TorFX International Money Transfers
TorFX guarantee to beat any ... TorFX guarantee to beat any competitor's exchange rate for a transaction. Conditions apply
USD 150 1 day
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
Go to site More
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How do international money transfers work?

An international money transfer allows you to send money to a recipient overseas. Generally, a transfer involves you providing funds to a bank or an independent transfer provider, which then sends the money to your recipient in another country — in this case, Hong Kong. This can be done in person, over the phone, through a mobile app or online. You can use cash, a credit or debit card, or transfer funds from your bank account, which will then either be deposited into your recipient’s bank account or mobile wallet, or made available as cash for them to pick up at a location in their country.

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Banks versus money transfer companies/services

The first place many people go when they need to send an international money transfer is to their bank. While banks can certainly send money overseas for you, their fees are often higher compared to companies that specialize in international money transfers.

Instead of sending funds through your bank, why not consider the services of a money transfer company? These providers, such as OFX, offer fast, easy and affordable transfers across international borders. With lower fees and better exchange rates than banks, they can ensure that you get a better deal from a financial point of view.

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Case study: Leon sends money to Hong Kong

Leon’s younger brother Kevin is traveling through Hong Kong when, much to his dismay, he runs out of money. Rather than ask his parents for another loan, Kevin asks his brother to send him $1,000 to help him book a flight home. Leon thinks about sending the money through his bank, but when he sees that it is offering a less-than-impressive exchange rate, he decides to see whether he’d be better off using an online money transfer company. The results of his comparison are shown below:

BankMoney transfer company
Exchange rate$1 USD = $5.39 HKD$1 USD = $5.72 HKD
Transfer fee$20$5
Transfer methodBank account depositBank account deposit
Processing time2 business days2 business days
Amount received (in Hong Kong dollars)5,390 HKD5,720 HKD

As you can see, in addition to a significant savings on the transfer fee, Leon can send an extra 330 HKD to his brother by using the online money transfer provider.

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How to compare transfer companies when transferring money to Hong Kong

  • Exchange rates. Check to see which company offers the best exchange rate, but remember that companies with higher exchange rates may also charge higher transfer fees.
  • Fees. Make sure you’re aware of all the fees that you will incur with different providers when you send money to Hong Kong.
  • Transfer methods. While some companies are online only, others will also allow you to place transfers from your smartphone, over the telephone or by visiting a branch.
  • Transfer options. Check to see if you can place limit orders, lock in a good exchange rate with a forward contract or enjoy the convenience of setting up a regular payment.
  • Turnaround time. Will your funds be available to your recipient in minutes, or will they need to wait for two or more days for the transaction to be processed?
  • Minimum amount. Check to see whether each company imposes a minimum transfer limit, as this can be restricting if you only need to transfer small sums of cash.
  • Pickup methods. While some companies only offer bank account transfers, others offer cash pickup from an agent location, mobile wallet transfers and even home delivery.
  • Customer service. If anything goes wrong with a transaction, will phone, email and live chat support be available? During which hours?
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Foreign exchange rates explained
The exchange rate determines how much one country’s currency is worth in another currency. When a country’s currency is strong, it will yield more money when exchanging it in a country with a weak currency. For example, in December 2016, the U.S dollar was worth approximately 19 Mexican pesos. However, most countries’ exchange rates are flexible, which means it can change from moment to moment. Factors that influence the exchange rate include interest rates, economic stability and inflation.
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How to send money to Hong Kong from the U.S.

  • Bank transfers. Many U.S. banks will allow you to send Hong Kong dollars from your U.S. account to your recipient’s Hong Kong bank account.
  • Online money transfer providers. A range of specialist online providers offer a cheaper transfer method than the big banks.
  • Money transfer companies with cash pickup options. Consider sending funds through Western Union or MoneyGram so that your recipient can pick up cash from an agent location.
  • Checks. International guaranteed checks are a secure way to send money overseas.
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Emergency cash transfers in Hong Kong

If you need to transfer money to Hong Kong urgently, you may be charged a higher fee and have to settle for a lower exchange rate. Sometimes this sacrifice is necessary when you need to send an emergency cash transfer, but just make sure to carefully review all the details of a transaction before you commit to it.

Back to topFind a money transfer location near you

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How to send money to Hong Kong

There are plenty of options to choose from when you need to send money to Hong Kong, and whichever option you choose you will usually need to sign up for an account before sending your transfer. The exact registration process differs between companies, but you’ll generally need to provide:

  • Your full name
  • Your address and contact details
  • Your date of birth
  • Proof of identity
  • In some cases you will need to provide bank account or credit card information

Before you choose an international money transfer provider, compare the fees and benefits of a range of money transfer companies. Doing a thorough comparison will ensure that you get value for money when you send funds to Hong Kong.

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Tips for picking up cash in Hong Kong

  • Take a friend along to deter thieves.
  • Keep your cash hidden and don’t promote your wealth.
  • Avoid any high-crime areas.
  • Keep an eye on your wallet/bag at all times.
  • Deposit the funds into your bank account as soon as possible.
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US International Money Transfers Offers

Learn about our information service
WorldRemit International Money Transfers

An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.

OFX International Money Transfers

Exclusive offer: Special exchange rates and $0 transfer fee
OFX is currently offering finder.com exclusive exchange rates and $0 transfer fee on all transfers.

World First Foreign Exchange

Exclusive offer: $0 transfer fee
Transfer money into a range of currencies online and over the phone.

Transferwise International Money Transfers

Make online transfers in a range of currencies and enjoy high maximum transfer amounts.

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