Any advice for best exchange rates in Hong Kong?

Apr 7th, 2016 12:09 pm

#1

rmlobu [OP]: Newbie; Jan 1, 2012; 20 posts; 3 upvotes

Apr 7th, 2016 12:09 pm

Any advice for best exchange rates in Hong Kong?

I have seen old threads that said the airport has decent rates, but what about larger amounts like $3,000 or $4,000? Can the local banks or the forex shops do better?

Thank you in advance.

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Apr 7th, 2016 1:26 pm

#2

mkjr: Deal Addict; Aug 21, 2007; 4878 posts; 457 upvotes; gave up on rfd for g…

Apr 7th, 2016 1:26 pm

chung king mansions. no joke. better for US$, however. or cash machine if you have an HSBC card. its a decent rate.

Left rfd

Apr 7th, 2016 7:21 pm

#3

MonctonMan: Deal Addict; Oct 25, 2009; 4328 posts; 1338 upvotes; Moncton

Apr 7th, 2016 7:21 pm

I didn't see anything to buy in Hong Kong that was cheaper than in Canada or online. Keep in mind the Hong Kong dollar exchange rate is artificially pegged to the US dollar, a serious disadvantage to Canadians in these low oil days.

Toronto is a very small part of Canada

Apr 7th, 2016 10:40 pm

#4

malakijoy: Temp. Banned; Nov 18, 2015; 751 posts; 166 upvotes; New Westminster, BC

Apr 7th, 2016 10:40 pm

I'd go to the forex shop.I've always found the rates better than in the banks.

Apr 7th, 2016 10:54 pm

#5

gqballa: Member; Mar 11, 2012; 293 posts; 76 upvotes

Apr 7th, 2016 10:54 pm

Go to HK and withdraw with debit. That was on par with the stores itself.

Everything else Amazon visa or Rogers MasterCard

Apr 8th, 2016 12:30 am

#6

Lovable: Deal Addict; Aug 21, 2009; 4628 posts; 333 upvotes

Apr 8th, 2016 12:30 am

MonctonMan wrote: ↑I didn't see anything to buy in Hong Kong that was cheaper than in Canada or online. Keep in mind the Hong Kong dollar exchange rate is artificially pegged to the US dollar, a serious disadvantage to Canadians in these low oil days.

Yes, this is one thing to keep in mind. Regardless of where you end up saving re: exchange we will still be royally screwed with our weaker dollar right now in HK.

Apr 11th, 2016 2:51 pm

#7

rmlobu [OP]: Newbie; Jan 1, 2012; 20 posts; 3 upvotes

Apr 11th, 2016 2:51 pm

Thank you all for your advice. I was hoping that the larger amount exchanged can be more cost effective. Will figure it out once I get there.

Apr 11th, 2016 5:41 pm

#8

absolutcamper: Sr. Member; Oct 24, 2009; 899 posts; 895 upvotes; Vancouver

Apr 11th, 2016 5:41 pm

rmlobu wrote: ↑Thank you all for your advice. I was hoping that the larger amount exchanged can be more cost effective. Will figure it out once I get there.

Most of the expats and many locals use Berlin Exchange in Central. Rates are here: http://bcel1985.blogspot.ca/
17/F, The Chinese Bank Building, 61-65 Des Voeux Road Central

If you have a large amount, call ahead at +852 2523 3403. DO NOT GO AT LUNCH TIME as there will be a huge line up. Their rates are the best and people know that.

Apr 11th, 2016 6:10 pm

#9

rmlobu [OP]: Newbie; Jan 1, 2012; 20 posts; 3 upvotes

Apr 11th, 2016 6:10 pm

Wow, thank you Absolutcamper. I had a quick look and Berlin Exchange's rates look much better than anyone else I have seen so far. I will be sure to stop by (not at lunch time as you have suggested).