I always bring Aussie or U.S. cash and convert at a money changer when I need to. The rate is much better doing it this way compared to withdrawing local currency using an Aussie bank ATM card. So depending on the length of the trip I'll take between $1-8k in cash and make sure I don't lose it or get it stolen. I also bring an ATM card as backup with visa debit function but never use it. The HKD is pegged to the USD so take U.S.cash if you have any.
Travel Money Card
- Thread starter MTR
- Start date
We have done this to death a couple of times
Citibank plus debit card for cash. No account fees, bank exchange rates. No % based fees. No loading fees, all currencies and tfr back to your offset when u get back home.
28 degrees for credit card as above except you pay it off.
Citibank plus debit card for cash. No account fees, bank exchange rates. No % based fees. No loading fees, all currencies and tfr back to your offset when u get back home.
28 degrees for credit card as above except you pay it off.
Going with cash and credit card now, exchange money when we get to HK, I did not realise I would get a better return on my money.
Thanks All.
Cheers
MTR
To give you an example, retail rates for aud to usd are usually in the region of $0.030 margin. The rates I get for my business are around $0.010 margin, so you're paying 30 times the margin.
Obviously you will be paying higher retail in hkd than 10 points but significantly less than what these idiots charge here
Still fee free but they've stopped the ability to take out money from it without fee. I use to put more cash on the card and then use it as a debit card to withdraw the additional funds as cash at the atm. Now you can't do that anymore.
The best place to exchange cash in HK is at Chungking Mansion on Nathan Rd in TST. It's opposite iSquare and you'll see at least half a dozen money changers on the ground floor. The second WU on the right usually has the best rates for AUD. I can recommend Spring Deer on Mody Rd in TST for the best Peking duck in HK.
