Hong Kong Dollars and currency exchange dilemma

[maclab]

Hi,

Ok this is my situation. I leave for Hong Kong on Saturday and I still have to sort out what I am going to do about getting HK$ etc...

Over there I have some large expenses, within the vicinity of about AU$8000 and about AU$3000 of that will need to be in $HK cash. But I also need other spending money etc...I will be there for 2 weeks.

I have read that Wizard do a great Master card, but I dont have time for that now. I am shocked by how coughpy the rates are over here for exchange so I am not sure what to do, so this is what I am thinking.

Get a Commonwealth Bank Travel Money card and put maybe $2000 on there. There rates are only slightly lower than travelex online purchase rates, but I will have the advantage of been able to make purchases with it and not just atm with drawls. Also get about AU$300 in HK dollloars just for the first day.

For the larger amount, bring about AU$5000 in cash and change the money in a bank over there, I think the rates are much better there.

I would really appreciate some advice from your experiences

Thank you

 

[JohnK]

You can easily get your HKD for the first day at HKG airport. Plenty of ATMs and currency exchange booths.

Personally I would not waste my time with any travel money cards/passports (whether issued by CBA or Travelex) and taking the cash with me and exchanging it over there. Sure there is a risk factor involved in carrying cash but so far so good.

 

[S.A]

Have a look at :: KVB Kunlun ::.

I've used them quite a bit for HKD and JPY over the last few years - and their rates have been consistently better than any bank.

Basically in Sydney (and I understand it's the same in Melb) it's a walk-in to get very close to the rates listed on their website, eg. if AUD/JPY is listed as 90, my experience is that you'll get around 88.5-89.

Never had to do it in HK but they have an office there. Could be worth a call or email, and would save you doing it here/carrying cash.

 

[HardieBoys]

I usually just use an ATM in HK. Alternatively, take large $AUD notes and change them there. It's pretty straightforward, though avoid anyone whispering "Change money?" to you on Nathan Rd in Tsim Sha Tsui.

 

[auriga]

I usually just use an ATM in HK. Alternatively, take large $AUD notes and change them there. It's pretty straightforward, though avoid anyone whispering "Change money?" to you on Nathan Rd in Tsim Sha Tsui.

It is a pity that the largest AUD note is only $100, not as convenient to carry as SGD 1000, or even SGD10000 notes!:mrgreen:

 

[HardieBoys]

Other than money laundering - not that I'm saying that this happens anywhere - what would be the practical use of a SGD 10 000 note?

 

[straitman]

Other than money laundering - not that I'm saying that this happens anywhere - what would be the practical use of a SGD 10 000 note?

Probably a lot more useful than my 100 Billion Zimbabwe note :!:

 

[N860CR]

I've found the cash exchange rates in HK have never been great (although in fairness haven't looked too hard for a good one). The "average" I saw last week seemed to be 6.2ish for AUD, however the cash I took from the ATM (using an ING Orange Everyday card) was 7.02 (their foreign ATM fee is a flat $2.50).

 

[Chicken]

I use Berlin in Central for forex when I am in Hong Kong. Their rate is one of the best, and they do cash.