[greenietea]

Ok. I need to transfer a small amount of money (a few hundred USD) to a friend in the US. But I'm not sure if I should go to a bank (HSBC) or to Western Union?

Which one is cheaper? Anyone has any experience?

Thanks.

[PDLM]

For a few hundred USD I think Western Union - they have a step charge every (I think) HK$10,000 of HK$28 (so HK$28 or small amounts, HK$56 for HK$10-20K, etc.). HSBC has a flat charge of about $150-200 depending on what the far end bank charges.

You also need to look at the exchange rate - in general HSBC seems to be a little better (certainly on PHP which is where I do most of my transfers) but not enough to offset the extra fixed charge for small transfers.

But the advantage of HSBC is that it is easy to put it straight into the recipient's bank account - if they have to pay for transport to go to a Western Union outlet to pick up the cash then that may offset any savings.

[MegLooney]

Do you have to use a bank or union? FYI, I always use PayPal to transfer small amount of funds. As long as the recipient has an email address, s/he can receive the money.