I brought some cash with me from the US to open an account here with HSBC. Here are the details.
The exchange rate they give you is 7.707 (I exchanged 9k USD). They said this was a favorable rate but I wasn't so sure.
I went down to the street level money changers and the rate they advertise is 7.5 HKD to 1 USD, which is even worse! I asked them if I were to exchange in bulk (1k USD) how much would it be, and even then they said the rate would be 7.6.
The going rate for that day was:
2009-01-30 Friday, January 30 7.75585 HKD
HSBC was charging .04885/7.75585. This works out to be a charge of .63%. This is actually not bad - Everbank charges a rate of 1% for an international ATM withdrawal (which is much better than the industry standard 3%). The only thing better for exchanging money is to use the Capital One card which charges 0% but isn't really a money exchange.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment