China Travel Forum

[BenJamin]

It's been four years since I visited Hong Kong. I presume I will get more
HK dollars for $100 US travelers checks than $100 US bills - yes/no? I
cannot remember what instrument got the better rate (inc. bank commission).
What is the opinion of the dollar rising or falling during the next two
years? Thanks in advance for your reply.

[Adam]

The exchange rate for ATM cash withdrawals is better than you'll get with
cash or travelers checks - sometimes as much as 7% better, though not so extreme in Hong Kong where the currency exchange market is pretty
competitive. Still you'll save a few percent.
ATMs in Hong Kong banks don't charge a per-transaction fee. The exchange is performed, as per agreement with the ATM network operator (Cirrus/MasterCard or Plus/Visa) at a rate which is about 1% off the interbank (official, in this case) rate.
Whether you have to pay any other fees or percentage charges depends on your own bank. My bank does not charge me any fees of any sort for any number of ATM withdrawals anywhere, so this works out well for me. If you will be traveling a lot it is worth seeking out such a bank in your area. Credit unions tend to be generous in this regard. Also, Citibank and I believe Bank
of America have branches in Hong Kong, so their cardholders can surely
escape fees in any case.