General Information » Money » Money Exchanges

When you need to change money into local currency, there are several options, including banks, your hotel, or licensed money exchanges. Hotels typically offer the worst rates, taking around 7% of your money for the privilege of changing it. Banks are a safe bet, and charge around 2-3%, with good exchanges charging 1-2%. You can get better rates than these on popular currencies such as the US$, while relatively rare currencies will get you a worse rate.

Money exchanges are easy to find – just look for their brightly lit ‘Change’ signs; they’re typically open from 09:30 – 19:30. However, beware the changers on main streets in the heart of the tourist areas (for example along Ashley Road in Tsim Sha Tsui), who can charge over 15%. So jot down your hotel’s rates as a reference before you start, and be prepared to walk off the main streets to get a better deal.

If this all sounds like too much trouble, using an ATM to withdraw money from your home bank’s savings account is fast, available 24/7, and typically costs you only 2-3%.