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Sending Money Back to UK

Sending Money Back to UK

Old Mar 29th 2009, 2:53 pm
  #1  
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Default Sending Money Back to UK

Greetings.

Anyone knows how to get banks in HK to send HK$ abroad as SWIFT payment?

I am planning to (SNIP) convert HK$ back to £ soon. They want me to wire HK$ to their HK$ bank account in UK (yes, a foreign currency account at a bank in UK)

On enquiry at branches, most banks in HK do not know such service exists. I guess the concept of sending a local currency abroad instead of first converting it, is unheard of. Must I use a special term before they will understand?

Additionally, I have these questions :

Does such service costs a fortunate, if available at all
Besides no1currency, I am looking at xe.com too. Who else should I consider

Thank you for your advice in advance.

Last edited by Mitzyboy; Mar 29th 2009 at 11:12 pm. Reason: Commercial URL removed
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Old Mar 30th 2009, 5:18 pm
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Default Re: Sending Money Back to UK

Originally Posted by dreamAdream View Post
Greetings.

Anyone knows how to get banks in HK to send HK$ abroad as SWIFT payment?

I am planning to (SNIP) convert HK$ back to £ soon. They want me to wire HK$ to their HK$ bank account in UK (yes, a foreign currency account at a bank in UK)

On enquiry at branches, most banks in HK do not know such service exists. I guess the concept of sending a local currency abroad instead of first converting it, is unheard of. Must I use a special term before they will understand?

Additionally, I have these questions :

Does such service costs a fortunate, if available at all
Besides no1currency, I am looking at xe.com too. Who else should I consider

Thank you for your advice in advance.

Hi There

I have done this before when exiting an investment in HK, although they may not seem to understand how a bank in the uk can be held in HK$, you just have to make sure that they understand that they are sending HK$ to an HK$ account. it shouldnt be hard to get them to do it.

it shouldnt cost a fortune, the broker i use all the time is rationalfx, they dont charge commision or take charges so could be worth a shot. the guy i use always keeps me informed of market movements that can make a difference to me. pm me if you want his contact details, sure he will be able to help.

Will
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Old Mar 30th 2009, 5:44 pm
  #3  
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Default Re: Sending Money Back to UK

Originally Posted by hitchw View Post
Hi There

I have done this before when exiting an investment in HK, although they may not seem to understand how a bank in the uk can be held in HK$, you just have to make sure that they understand that they are sending HK$ to an HK$ account. it shouldnt be hard to get them to do it.

it shouldnt cost a fortune, the broker i use all the time is rationalfx, they dont charge commision or take charges so could be worth a shot. the guy i use always keeps me informed of market movements that can make a difference to me. pm me if you want his contact details, sure he will be able to help.

Will
Hi Will,

It appears that PM is impossible until at least 3 posts are made.

I am using the next 2 to clarify some specifics, if I may.

Was it called SWIFT or something else when you dealt with the local bank
Which bank
Did you do it at branch or over their internet banking

Thanks.

Matt
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Old Mar 31st 2009, 8:27 am
  #4  
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Default Re: Sending Money Back to UK

Originally Posted by dreamAdream View Post
Hi Will,

It appears that PM is impossible until at least 3 posts are made.

I am using the next 2 to clarify some specifics, if I may.

Was it called SWIFT or something else when you dealt with the local bank
Which bank
Did you do it at branch or over their internet banking

Thanks.

Matt

Hi Matt,

No problem, in answer to your questions,

-It was a SWIFT transfer, it came from an HSBC account (not in my name, it was a development company that had the funds on account), they did it in branch, but you should be able to do it via internet banking if the account is in your name, the only problem with that is depending on the amount you have in HK$ they may give you a daily limit you can send(generally between 10K-15K). Also if you do it via the internet, the transfer should be a BACS payment.

I have to make a trade later on today for another currency, I will speak to my broker and ask him about more details.

Speak to you later,

Will
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Old Mar 31st 2009, 9:34 pm
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Default Re: Sending Money Back to UK

Will,

Thank you for your reply. The info is good enough for me to research further. I will PM in due course once I have a chance to speak to the local branch again.

Thanks again for your great help.

Matt
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