Hong Kong (HK)
Hong Kong is one of the world's most dynamic cities — a Special Administrative Region (SAR) of China operating under the 'One Country, Two Systems' framework that preserves its common law legal system, independent judiciary, free port status, and separate currency.
Currency & Money
Practical money tips for living in Hong Kong.
Denominations
Coins: 10¢, 20¢, 50¢, HK$1, HK$2, HK$5, HK$10. Notes: HK$20, HK$50, HK$100, HK$500, HK$1,000. Notes are issued by three commercial banks (HSBC, Standard Chartered, Bank of China HK) plus government coins — all are legal tender.
Payment Culture
Hong Kong is rapidly going cashless. The Octopus card is used for transit and retail payments at hundreds of thousands of outlets. PayMe (HSBC), WeChat Pay HK, AlipayHK, and FPS (Faster Payment System) are dominant for person-to-person payments. Cash is still accepted everywhere. Credit/debit cards widely accepted in shops, restaurants and hotels. Some wet markets and small dai pai dongs are cash only.
ATM Tips
ATMs are everywhere — inside MTR stations, 7-Eleven, banks, shopping malls. HSBC, Hang Seng, and JETCO network ATMs are fee-free for most local accounts. Notify your home bank before arrival. Withdrawal limit is typically HK$20,000–30,000/day. Exchange rates at airport money changers are poor — use a bank ATM or a licensed money changer in Tsim Sha Tsui or Mong Kok for better rates.
Exchange Tips
The HKD has been pegged to the USD at 7.75–7.85 (Linked Exchange Rate System) since 1983 — one of the world's most stable and credible pegs. There is no floating risk. Use Wise or Revolut for international transfers. Licensed money changers in Chungking Mansions (Nathan Road, TST) offer competitive rates for major currencies. Airport changers are 5–8% worse.
Pro tip: Best apps for expats
- • Wise — Send money internationally at near-interbank rates
- • Revolut — Multi-currency account, free ATM withdrawals (limits apply)
- • N26 — German IBAN, free account, good for EU residents