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How to send money to Hong Kong

Safe, secure and cost-effective transfer options when you need to send money to Hong Kong from the Philippines.

The Philippines and Hong Kong share strong commercial and personal links. Around 160,000 Filipinos are based in Hong Kong, which means there are plenty of situations where you might need to send money from the Philippines.

Before you do, make sure you compare a range of money transfer providers to find the best possible deal.

Compare services that send money to Hong Kong from the Philippines

Name Product Minimum Transfer Transfer Time Transfer Fee
MoneyGram
MoneyGram
PHP 1
1 day
USD 9.99
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
Western Union
Western Union
PHP 1
Same day
3.4%
Western Union sends money online to friends and family in 200+ countries around the world.
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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.

Cash transfers

Services like MoneyGram 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.

Banks

The Hong Kong dollar is a popular currency in the Philippines, so your local bank may 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.

How to send money to Hong Kong 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 preferred payment method.
  2. 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.
  3. Confirm transfer details. Double-check your payment method, expected fees and destination.
  4. 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 Philippine banks will allow you to send money to Hong Kong.
  • Money transfer providers. Providers like OFX 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.
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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. 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 Philippine peso.
  • 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 PHP-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 pesos 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 to Hong Kong

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 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. Factors that may influence the exchange rate include interest rates, economic stability and inflation.

Track how the Hong Kong dollar trades against the Philippine peso in our historical rate chart.

Today’s exchange rate PHP to HKD

1
0
Updated: 26 Oct 2021 13:37:10 UTC

Documents needed for sending to and receiving money in Hong Kong

To send money to Hong Kong from the Philippines, 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 Philippines

To send money from the Philippines 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.
  • 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 over ₱500,000 being sent from the Philippines to other countries will automatically be reported by your bank to the Bangko Sentral ng Pilipinas in compliance with the Anti-Money Laundering Act.

Bottom line

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.

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