Email Us | Advertising

Login / Register

User Name
Password

Advertisers


Hong Kong > Forums  > Hong Kong Forums  > Living in Hong Kong  > Business and Finance
Tags:

Cheapest Way to Transfer Money from HK to US

Reply
 
LinkBack Tools Search Rate Thread
 
Old 17-10-2006, 11:09 AM
greenietea's Avatar
Registered User
 
Join Date: Nov 2005
Age: 25
Posts: 185
greenietea is a jewel in the roughgreenietea is a jewel in the roughgreenietea is a jewel in the rough
Send a message via AIM to greenietea Send a message via MSN to greenietea
Cheapest Way to Transfer Money from HK to US

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.
Reply With Quote
 
Old 17-10-2006, 11:19 AM
Registered User
 
Join Date: Jun 2005
Location: Hong Kong
Posts: 6,387
Blog Entries: 1
PDLM has a reputation beyond reputePDLM has a reputation beyond reputePDLM has a reputation beyond reputePDLM has a reputation beyond reputePDLM has a reputation beyond reputePDLM has a reputation beyond reputePDLM has a reputation beyond reputePDLM has a reputation beyond reputePDLM has a reputation beyond reputePDLM has a reputation beyond reputePDLM has a reputation beyond repute
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.
Reply With Quote
 
Old 31-10-2006, 12:12 AM
Registered User
 
Join Date: Oct 2006
Posts: 34
MegLooney is on a distinguished road
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.
Reply With Quote
Reply


Similar Threads
Thread Thread Starter Forum Replies Last Post
Money Transfer to India funnie Business and Finance 14 28-05-2008 04:11 PM
Money Transfer fromIndia Everything Else 10 03-04-2008 01:19 AM
Help!! Transfer money to HK Tom1985 Business and Finance 12 31-10-2006 02:31 AM
cheapest way to send money from US to HK wing Everything Else 8 05-08-2005 02:53 PM
international money transfer robin7657 Everything Else 3 14-02-2005 10:21 PM


Tools Search
Search:

Advanced Search
Rate This Thread
Rate This Thread:



All times are GMT +8. The time now is 10:37 PM.


Quick Nav

Partners

Small Business Ads

Advertise Here

Content Relevant URLs by vBSEO 3.1.0 ©2007, Crawlability, Inc.