Ruth Haines
If you're planning to exchange USD for HKD at Hong Kong Airport, be aware that airport exchange rates are often unfavourable. While it may be convenient to exchange money at the airport, you might end up paying higher fees compared to exchanging currency in the city. Chungking Mansions in Kowloon is often recommended for its better exchange rates. If you're looking for the best rates, it's worth checking out multiple exchange booths and using an exchange rate calculator to estimate the expected amount. Additionally, some suggest bringing USD cash as a backup and using ATMs in Hong Kong to withdraw local currency, especially if your bank doesn't charge foreign transaction fees.
| Characteristics | Values |
|---|---|
| Exchange USD for HKD at Hong Kong Airport | Possible |
| Exchange Rate | Unfavourable |
| Recommended | No |
| Recommended Alternatives | Chungking Mansions, ATM withdrawals, exchanging a small amount in the US |
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What You'll Learn
Exchange rates at Hong Kong airport
Hong Kong International Airport offers instant financial services, including money exchange services. However, some travellers have noted that airport exchange rates are typically unfavourable and should be avoided. It is recommended that you use an ATM at the airport or bring some local currency with you and exchange the rest of your money elsewhere.
If you are exchanging USD for HKD, Chungking Mansions in Tsim Sha Tsui, Kowloon, is said to offer the best rates. Another recommended place to exchange money is inside the World Wide House in Central, with Franki Exchange offering the best rate recently.
To save time, you can also order foreign currencies online via the Travelex or Global Exchange website and collect them upon arrival at Hong Kong Airport. Global Exchange offers a 15% discount if you book online compared to its standard branch prices.
It is worth noting that some sources suggest that exchange rates are similar across Hong Kong, so exchanging money at the airport may be convenient if you are short on time. However, it is always a good idea to check an exchange rate calculator on your phone to ensure you are getting a fair deal.
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Chungking Mansions for better rates
Chungking Mansions is a large building located at 36–44 Nathan Road in Tsim Sha Tsui, Kowloon, Hong Kong. It is a 17-storey building consisting of five blocks, named A, B, C, D, and E. The first two floors are public spaces where most shops are located, and the third floor is a terrace level. The building is home to various shops, guesthouses, restaurants, and foreign exchange offices.
Chungking Mansions is known for offering better currency exchange rates than the airport. One source mentions that the airport rates are "not so great", while another states that airports always have unfavourable exchange rates. Chungking Mansions is recommended as the place to go for much better rates.
In addition to currency exchange, Chungking Mansions is also a popular place for budget accommodation. It is known for having some of the cheapest options in Hong Kong, with rooms available for as low as $36 USD per night. However, reviews for the accommodation are mixed, with some people mentioning issues such as small rooms, elevator lines, and unpleasant smells from nearby restaurants.
If you are looking for a place to exchange currency, Chungking Mansions is worth considering due to its favourable exchange rates. However, it is always a good idea to check the rates before exchanging your money and ensure that your bills are in good condition, as local money changers can be particular about the quality of the bills they accept.
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Using an ATM card
ATM Availability and Card Compatibility
ATMs are readily available at Hong Kong Airport and across the city, including at train stations, banks, supermarkets, convenience stores, and on the street. Visa and Mastercard holders can use most ATMs in Hong Kong without issues. However, if you have an American Express card, you should look for Aeon ATMs, commonly found at MTR stations and Circle K convenience stores. Additionally, keep an eye out for logos like Cirrus or Union Pay, as these indicate compatibility with your card.
Transaction Fees and Exchange Rates
Using your ATM card at Hong Kong Airport ATMs may incur transaction fees and offer less favourable exchange rates compared to other options. When using a foreign card, you may be offered the Dynamic Currency Conversion (DCC) service, which allows the ATM to set its own exchange rate and may result in a poorer rate than the mid-market rate. To avoid this, choose to view transactions in the local currency (HKD) rather than your home currency. Additionally, check with your home bank beforehand to understand any fees they may charge, such as withdrawal fees or foreign transaction fees.
Card Security and PIN Requirements
Ensure your ATM card has no foreign transaction fees, as this can make it a more cost-effective option for currency exchange. Also, be aware of the quality of your bills; some local money changers are particular about the condition of the currency they accept. It's recommended to bring flawless bills to avoid any issues.
Alternative Options
While using an ATM card at Hong Kong Airport is convenient, you may consider other options for more favourable exchange rates. Exchanging currency at Chungking Mansions in Tsim Sha Tsui, Kowloon, is recommended by several sources for better rates than the airport. Additionally, you can exchange a small amount of money before your trip to have some HKD upon arrival, then use your ATM card for further transactions as needed.
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Exchanging a small amount at the airport
If you only need to exchange a small amount of USD to HKD at Hong Kong airport, you have several options. Firstly, you could exchange a minimal amount at the airport to cover immediate expenses, such as transportation to your hotel. You can then exchange the rest of your money at better rates in the city, for example, at Chungking Mansions in Tsim Sha Tsui, Kowloon, or inside the World Wide House in Central.
Alternatively, if you have a credit card or ATM card with no foreign transaction fees, you may want to use that to withdraw cash from an ATM at the airport or in the city. Most HK machines will accept cards that belong to the Plus (Visa) or Cirrus (Mastercard) networks.
It's worth noting that airport exchange rates are generally unfavourable, so if you do decide to exchange money at the airport, be mindful of the rates and consider using an exchange rate calculator on your phone to estimate the expected rate. Additionally, ensure that your USD bills are in good condition, as local money changers may be particular about the quality of the bills they accept.
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Buying an Octopus card
While it is possible to exchange USD for HKD at Hong Kong airport, sources suggest that airport exchange rates are often unfavourable and that it is better to exchange money in the city centre. If you are looking to buy an Octopus card, you can do so at the airport. The Tourist Octopus Card can be purchased online for HK$97.00, which comes with HK$50.00 pre-loaded. You can then pick up your card at the airport, allowing you to use it for transportation to the city. The card can be purchased at 7-Eleven (Unit 5T058, Arrivals Meeters & Greeters Hall, or any 7-Eleven outlets), MTR Ticket & Octopus Selling Machine (Airport Station), MTR Customer Service Centre, Airport Station (excluding the Customer Service Centre located at Airport Station Platform 1), and Relay (Arrivals Pre-Immigration, L5, Terminal 1, Restricted Area).
The Octopus card can be used for all public transport, including the Airport Express, MTR, buses, minibuses, taxis, the street tram, the Star Ferry, and ferries to outlying islands. It can also be used in convenience stores to purchase snacks, drinks, SIM cards, and even alcohol and cigarettes.
If you prefer to keep things digital, the Octopus app for tourists can be downloaded for iPhone, Android, and Huawei users before or after you arrive in Hong Kong. This allows you to check your balance and instantly top up using your preferred credit or debit card. You can then add the card to your phone's wallet, which works in the same way as a physical card with all Octopus card readers.
For tourists from Mainland China or Macau, the Octopus App for Tourists can be downloaded from AppGallery, allowing you to add a new Octopus card.
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Frequently asked questions
Yes, it is possible to exchange USD for HKD at Hong Kong Airport. However, the exchange rates at the airport are typically unfavourable and you will be charged higher fees compared to exchanging money in the city.
You can find better exchange rates in the city, particularly at Chungking Mansions in Tsim Sha Tsui, Kowloon.
If you have a credit card or ATM card with no foreign transaction fees, it may be more cost-effective to use an ATM to withdraw local cash.
Exchanging money at the airport can be convenient, especially if you need a small amount of HKD when you arrive. It may also be a good idea to exchange a small amount of money before your flight in case you need to use it upon arrival.
