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Transferring a large amount of money from U.S. to HK

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ORIGINAL POST
Posted by bostondude 14 yrs ago
Hi everyone...


I just moved to HK...i'd like to transfer several hundred thousand US$ from U.S. to HK. I can wire transfer the money from Bank of America to my HSBC account here but I get ripped off on the exchange rate (~3-4% worse than the interbank rate). Is there a cheaper way to transfer large amounts from US$ to HK$?


Thanks for your help!

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COMMENTS
woods99 14 yrs ago



I assume that you are a customer of both banks. Have you tried negotiating a more attractive exchange rate with either bank?

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bostondude 14 yrs ago
Will try to negotiate with bank and also will try the brokerage acct route...thanks for your advice wood99 and jobin!

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punter 14 yrs ago
Think too of opening an HSBC premier account in the US and move your money thru HSBC. It might be cheaper. There will always be charges when you move and convert money, just look for the cheapest way.


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joeis8salt 14 yrs ago
@White kiwi trash..


Isnt it illegal to carry that much cash with you? anything over 10k in cash the IRS (IRD equivalent) needs to know about it? and I would have some serious stress issues carrying that much cash with me!

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