Travel Reference
In-Depth Information
you're changing the equivalent of several hundred US dollars or more, the exchange rate
improves, which usually makes up for the fee.
Moneychangers
Licensed moneychangers, such as Chequepoint, abound in touristed areas,
including Tsim Sha Tsui. While they are convenient (usually open on Sundays, holidays and
late into the evenings) and take no commission per se, the less-than-attractive exchange
rates offered are equivalent to a 5% commission. These rates are clearly posted, though if
you're changing several hundred US dollars or more you might be able to bargain for a bet-
ter rate. Before the actual exchange is made, the moneychanger is required by law to give
you a form to sign that clearly shows the amount due to you, the exchange rate and any ser-
vice charges. Try to avoid the exchange counters at the airport or in hotels, which offer some
of the worst rates in Hong Kong.
Black market
No foreign-currency black market exists in Hong Kong. If anyone on the
street does approach you to change money, assume it's a scam.
Credit Cards
Accepted cards
The most widely accepted credit cards in Hong Kong are Visa, MasterCard,
Amex, Diners Club and JCB - and pretty much in that order. It may be an idea to carry two,
just in case.
Surcharge
Some shops in Hong Kong add a surcharge to offset the commission charged by
credit companies, which can range from 2.5% to 7%. In theory, this is prohibited by the
credit companies, but to get around this many shops will offer a 5% discount if you pay with
cash.
Lost or stolen
If a card is lost or stolen, you must inform both the
police
( 2527 7177)
and the issuing company as soon as possible; otherwise, you may have to pay for the pur-
chases that have been racked up on your card.
BANK
American Express
( 2811 6122)
BANK
Diners Club
( 2860 1888)
BANK
MasterCard
( 800 966 677)
BANK
Visa
( 800 900 782)
