What is the best way to send money from the Mainland to Hong Kong?
The best way is still to open a Hong Kong bank account first, and then take the telegraphic transfer, ticket remittance and other channels to remit money from the mainland to Hong Kong accounts, because the financial systems of China and Hong Kong have their own jurisdictions, so the operation of remittance from the mainland is similar to the ordinary international remittance. However, the policy of Hong Kong bank account opening for mainland citizens is very uncertain. For details on how to open a Hong Kong bank account, readers are advised to consult the major banks in Hong Kong: Standard Chartered, HSBC, Hang Seng, Citibank, Bank of China, or the banks that provide account opening on the mainland: ICBC Asia, China Construction Bank, and Minsheng Bank. The timeliness of opening a Hong Kong account in the Mainland is far less than opening an account directly with a Hong Kong bank, and there is a great deal of uncertainty in the business of mainland banks that provide such services, so readers should be aware of this.
Remittance from the Mainland to Hong Kong requires the purchase of remittance (in Hong Kong dollars) first on the Mainland bank’s Internet banking or cell phone APP, and then go through the process of cross-border telegraphic transfer, which is the same as the ordinary process of remittance to foreign countries, and the handling fees of various domestic banks are also very close to each other, ref.
More information on remittance from Mainland to overseas.
How can I send money from overseas to Hong Kong?
If you have a Hong Kong bank account, then sending money from other foreign countries to Hong Kong is a snap. The difference with sending money from abroad to China is that there are no policy limitations on the amount of money you can send to Hong Kong, and Hong Kong is much more financially open, so you have more options. The image below shows using Transferwise to send HKD from Singapore to a Hong Kong account:
Here are more cross-border money transfer tools.
