Where to exchange Hong Kong dollars in Hong Kong for a cost-effective Hong Kong dollar exchange guide?

When traveling to Hong Kong, you must exchange Hong Kong dollars in advance, or you can exchange Hong Kong dollars after going to Hong Kong. The editor below will tell you about the relevant strategies for Hong Kong dollar exchange. Be sure to remember to redeem it in advance when you go to Hong Kong.

Cash exchange

1. Mainland bank exchange

All major banks in the mainland can handle Hong Kong dollar cash exchange business, which is the most cost-effective and safest choice for exchange rates. . But don’t forget to make an appointment in advance. It is recommended to ask about the minimum and maximum redemption limits. You need to bring your ID card when redeeming.

The Hong Kong dollar exchange business of major banks basically provides large-denomination banknotes of 500 and 1,000 Hong Kong dollars. Among them, Bank of China has relatively more denominations. It is possible to exchange for small-denomination Hong Kong dollars. You can make an appointment when making an appointment. Put forward corresponding requirements.

2. Where to go to exchange for a good deal

Under normal circumstances, the exchange rate for Hong Kong dollars at Bank of China and China Merchants Bank is relatively cost-effective; when converting Hong Kong dollars back to RMB, the exchange rate at Industrial and Commercial Bank of China is relatively Recommended. However, the exchange rates of major banks fluctuate slightly every day, so you still have to make a decision based on the actual situation. If the exchange amount is not large, there is no need to worry too much about the exchange rate difference.

Exchange at airport and checkpoint counters

1. Airport exchange

Most mainland airports and Hong Kong airports have currency exchange counters, but the exchange rate is relatively high. Exchange a small amount of Hong Kong dollars in case of emergency.

If you have already passed the Hong Kong Airport checkpoint, it is better to withdraw cash at the airport’s ATM machine. Although ATM cash withdrawals will charge a certain fee, the operation is simple and flexible, and the real-time exchange rate is also one of the recommendations (more details will be mentioned later.

2. Gate exchange

The exchange situation at the port is not much different from that at the airport. You can find exchange counters at the checkpoints before and after departure, but the exchange rate is not very good. Except for the Shenzhen Bay Port, cash withdrawals can be made through ATM machines at other ports on the Hong Kong side. < /p>

In addition, there are many private exchange offices near several popular ports of entry in Shenzhen, with varying exchange rates, but beware of counterfeit currency and try to choose other exchange methods unless there are special circumstances.

< p>3. Exchange at local money exchange offices

Once arriving in Hong Kong, many tourists will find that the streets and alleys in the central area are dotted with Hong Kong dollar exchange shops, with clear "change" signs and the exchange rate is relatively low. Cost-effective, large exchange is not recommended

4. Redemption location and time

Exchange shops can be found almost everywhere in the tourist-dense Hong Kong Island and Kowloon areas, just near Chungking Mansion. There are many exchange points, you can compare the exchange rates before choosing. As for the business hours, they are also very user-friendly. There are many stores that are open until 21:00 or even 22:00.

5. ATM machines can withdraw cash.

If you want to withdraw Hong Kong dollar cash from an ATM, you must do so within the Hong Kong area. The UnionPay logo can be seen almost everywhere in Hong Kong: at major ports (except Shenzhen Bay), at the airport and in tourist-dense urban centers. .

Although UnionPay cards are widely used in Hong Kong, for the sake of insurance, it is recommended that users call the corresponding bank to inquire whether they need to activate overseas cash withdrawals.

6. Settlement currency and procedures. Fee

Withdrawing cash in Hong Kong is settled directly in RMB, based on the real-time exchange rate, so it is recommended.

However, this method requires a certain handling fee for withdrawing cash from other places:

If you withdraw cash from an ATM with the UnionPay logo, the withdrawal fee is about 1% + 10 yuan;

If you withdraw cash from an ATM without the UnionPay logo, the withdrawal fee It’s about 3% + 10 yuan;

The specific fees vary slightly according to different bank regulations.

Other payment methods

1. Credit card

< p>Payment by credit card is a common payment method for traveling in Hong Kong. Almost all shopping malls and stores support credit card service.

2. UnionPay Card

In addition to the cash withdrawal function at ATMs, UnionPay cards are also available. It is also commonly used for payment by credit card. The exchange rate is settled in RMB, and no handling fees are incurred during the operation. It is very convenient and cost-effective.

3. Visa, Master, and American Express cards

p>

Visa, Master and American Express are basically all common credit cards.

Normally, these three channels will be settled in US dollars, resulting in serious exchange rate losses. However, if there is a UnionPay logo on the card, you can remind the store clerk to use the UnionPay channel to avoid unnecessary losses.

4. Alipay and WeChat Pay

Alipay and WeChat Pay are less popular in Hong Kong, so you can pay attention to whether there is an Alipay or WeChat Pay logo when making purchases. This payment method is settled in RMB and does not charge handling fees. It is welcomed by many tourists and is also one of the recommendations.

5. Which merchants support Alipay and WeChat payment?

At the beginning of this year, Alipay entered Hong Kong very quickly, and the discounts during settlement were relatively large. In addition to the following merchants, they must be More stores will support this consumption method.

Attractions: Ocean Park, Disney, etc.;

Catering: Starbucks, Itajousushi, Ippudo, Maxim's Fast Food, etc.;

Shopping stores: SaSa , Bonjour, Mannings, Watsons, most shops in Harbor City, pharmacies near Mong Kok in Causeway Bay, etc.

6. RMB

Some stores in Hong Kong accept cash payments in RMB, and the change is Hong Kong dollars, which is close to the market exchange rate, but does not fluctuate every day, so it is considered a A way to obtain small denominations of Hong Kong dollars.

Comparison of exchange and payment methods

According to the above table, the recommended exchange and payment methods under normal circumstances are: Alipay and WeChat payment > card payment > mainland bank exchange > cash withdrawal from ATM machines ＞RMB payment＞Exchange at local money exchange offices＞Exchange at airport and checkpoint counters.