Ruth Haines
Hong Kong International Airport offers a range of financial services, including banks, money exchangers, and ATMs. While it is possible to exchange American money (USD) for Hong Kong dollars (HKD) at the airport, it is generally not recommended due to unfavourable exchange rates and high fees. Instead, travellers can use their Visa, Mastercard, or American Express cards at ATMs in the airport to withdraw HKD. Additionally, it is suggested that travellers purchase an Octopus Card, a widely accepted payment method in Hong Kong, which can be used for both transit and payments at various establishments.
| Characteristics | Values |
|---|---|
| Using American money in Hong Kong Airport | Not recommended due to poor exchange rates |
| Alternative options | Using an ATM, purchasing an Octopus Card, using a credit card, or exchanging money outside the airport |
| Exchanging money at the airport | Not recommended due to high fees and poor rates |
| ATM withdrawal | A good option, especially with a card with no foreign transaction fees |
| Carrying cash | Recommended for small family-run stores |
| Credit cards | Widely accepted, especially for large purchases |
| Octopus Card | Widely used and convenient for transportation and payments at restaurants and stores |
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What You'll Learn
Exchanging USD for HKD at Hong Kong airport
Hong Kong International Airport provides instant financial services, including money exchange, banking, and ATMs. While it is possible to exchange USD for HKD at the airport, some travellers have noted that the airport exchange rates are not favourable.
If you are looking to exchange USD for HKD, you may want to consider the following options:
Using an ATM
ATMs are readily available in Hong Kong, including at the airport, ferry terminals, shopping centres, convenience stores, and train stations. You can use your Visa, Mastercard, or American Express card to withdraw cash in HKD from ATMs. Some ATMs may be linked to the Cirrus and PLUS international Mastercard and Visa networks and are available 24 hours a day. Additionally, if you have an American Express Travel® or credit card, you can use Aeon ATMs for cash withdrawals.
Ordering Foreign Currency in Advance
You can save time by ordering foreign currencies, such as HKD, online via the Travelex or Global Exchange website and collecting them upon your arrival at the airport. This option allows you to bypass the potentially unfavourable exchange rates at the airport currency exchange offices.
Exchanging at Licensed Exchange Offices
If you need to exchange USD for HKD, it is generally recommended to compare rates and look for licensed exchange offices outside the airport. Chungking Mansions in Tsim Sha Tsui, Kowloon, and Franki Exchange in World Wide House in Central are suggested as locations with favourable exchange rates. However, keep in mind that some banks and exchange offices may charge a commission for their services, which can be as high as $8 per transaction.
Using a Travel-Friendly Debit Card
Consider using a travel-friendly debit card, such as the Betterment Checking debit card, which waives foreign transaction and ATM operator fees. This option allows you to bypass currency exchange fees and make ATM withdrawals at a lower cost.
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Using an ATM at the airport
Hong Kong is a financial hub, so accessing money via ATMs is not difficult. ATMs are available 24 hours a day in the Hong Kong airport, train stations, banks, supermarkets, convenience stores, and on the street.
If you have a Visa or Mastercard, you can use almost any ATM in Hong Kong. If you have an American Express card, look for Aeon ATMs, which are often found at MTR stations and Circle K convenience stores. Bank of China, HSBC, ICBC, and China Construction Bank ATMs accept foreign cards and offer instructions in English.
Before you go, inform your bank so that your international card activity doesn't raise any red flags. Check if your bank has a daily cash withdrawal limit and request to temporarily raise it if you plan on taking out large amounts.
You can avoid some fees by using an ATM in the same network as your card. Choose a card with no foreign transaction fees or that reimburses you for ATM fees. You can also make fewer, larger withdrawals to avoid paying multiple flat fees. When using your foreign card at a Hong Kong ATM, it may offer to show the transaction in your home currency, but you should opt to pay in the local currency to avoid DCC fees.
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Using a credit card in Hong Kong
Hong Kong is an international hub for financial services, and credit cards are widely accepted. Visa, Mastercard, and American Express cards are accepted almost everywhere in the region. Credit cards are the most popular payment method in Hong Kong, followed by e-wallets.
You can use your credit card in hostels, hotels, shops, and larger restaurants. Look for the Visa and Mastercard stickers in shop windows and at the point of sale to find out whether a business takes cards. However, smaller eateries and shops may not accept credit cards, and some may only take cash. It is good to carry some cash with you, mainly for emergencies and taking taxis, as some taxis only accept cash.
ATMs are linked to the Cirrus and PLUS international Mastercard and Visa networks and are available 24 hours a day. You can use your credit card to withdraw cash from ATMs, but you may be charged a fee. Bank of China, HSBC, ICBC, and China Construction Bank ATMs all accept foreign cards and offer instructions in English.
If you are using an American Express Travel or credit card, you can use Aeon ATMs to withdraw cash. You can also use a travel-friendly debit card, such as the Betterment Checking debit card, to avoid foreign transaction and ATM operator fees.
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Using cash in Hong Kong
Hong Kong is a financial services hub, and credit and debit cards are widely accepted. Visa, Mastercard, and American Express are accepted almost everywhere in Hong Kong. You can use your card in hostels, hotels, and shops. Look for the Visa and Mastercard stickers in shop windows and at the point of sale to see whether a business accepts cards.
However, there are times when you will need cash. Small purchases at cheap restaurants, markets, and convenience stores are often cash-only. ATMs are easy to find in Hong Kong, including at the airport, ferry terminals, shopping centers, convenience stores, and train stations. ATMs are available 24 hours a day and are linked to the Cirrus and PLUS international Mastercard and Visa networks. If you are using an American Express Travel or credit card, you can use Aeon ATMs to withdraw cash.
It is not recommended to exchange money at the airport, as the rates are often poor. You will get a better rate in the city. If you need to exchange currency, look for a bank or licensed exchange office. The Hong Kong dollar is tied to the US dollar, with $1 USD getting you $7.75 HKD.
One thing to note is that Octopus Cards are widely used in Hong Kong. These are transit payment cards that can also be used as a method of payment at most restaurants and stores. You can purchase an Octopus Card at the airport or wherever you arrive, and top it up at MTR (subway) stations or 7-Eleven stores.
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Using an Octopus card in Hong Kong
Hong Kong International Airport offers instant financial services, including banks, money exchangers, and ATMs. While you can use American money in Hong Kong, it is not recommended for over-the-counter purchases as you will lose money on the currency exchange.
The Octopus card is a widely used payment method in Hong Kong. It is a reusable contactless stored-value smart card that can be used for electronic payments in both online and offline systems. Launched in 1997 for Hong Kong's public transport system, it is now used for transport and other retail transactions. The card is accepted by most public transport services, fast-food restaurants, supermarkets, vending machines, convenience stores, photo booths, parking meters, car parks, and many other retail businesses where small payments are frequently made. Notable businesses that accept Octopus cards include PARKnSHOP, Wellcome, Watsons, 7-Eleven, Starbucks, McDonald's, and Circle K.
The Octopus card can be purchased with a refundable HK$50 deposit, which covers the card cost and ensures uninterrupted Octopus service in the case of a negative value. The card can be topped up, and the initial stored value for the standard Octopus card is HK$70 for children and HK$150 for adults and elders.
The Octopus card is a convenient way to pay for goods and services in Hong Kong, and its usage has expanded to include other features such as recording school attendance and permitting building access.
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Frequently asked questions
It is not advisable to use American money in Hong Kong Airport as the exchange rates are unfavourable. It is recommended to use a debit or credit card with no foreign transaction fees at an ATM to withdraw Hong Kong dollars.
ATMs are available 24 hours a day at Hong Kong Airport. You can find them in the airport's terminals, as well as in the nearby banks.
Yes, you can exchange your currency at banks and currency exchange offices in Hong Kong. However, it is recommended to avoid exchanging money at the airport due to poor rates and high fees.
Hong Kong is an international hub for financial services, and Visa, Mastercard, and American Express are widely accepted. However, for smaller transactions at cheap restaurants, markets, and convenience stores, cash is predominantly used.
An Octopus Card is a stored-value card that can be used for transit payments and at most restaurants and stores in Hong Kong. It is more widely used than credit cards and is extremely convenient. While it is not necessary, it may be useful to have one as some establishments only accept Octopus Cards and not cash.
