What Currency it Used in Hong Kong?

Hong Kong's official currency is the Hong Kong dollar. When traveling in Hong Kong, you'll need to pay for everything from food and clothing to housing and transportation in Hong Kong dollars. Understanding the Hong Kong dollar's denominations, exchange rates, and various payment methods can help visitors smoothly complete transactions for shopping, dining, and transportation, avoiding inconvenience and misunderstandings caused by a lack of currency knowledge. For example, knowing that some small shops in Hong Kong may only accept cash can help you prepare an appropriate amount of Hong Kong dollars in advance. Understanding the exchange rate can also help you understand the actual cost of your purchases in USD, helping you plan your budget accordingly.

Hong Kong Currency Overview

Generally, Hong Kong Dollar or HKD (HK$) is the legal currency of Hong Kong. Notes are in denominations of HKD 1,000, 500, 100, 50, 20 and 10. Coins are in denominations of HKD 10, 5, 2 and 1, and 50, 20 and 10 cents. Use our Currency Converter & Calculator to see the actual rates.

In Hongkong and Macau, Chinese currency (RMB) is acceptable by some of shops and restaurants as well. In most cases, Hong Kong Dollars are used, and US Dollars, Euros, Japanese Yen, and RMB can also be used.

HK Dollar

Currency Exchange

If you need to exchange currency, you can choose these places

Bank exchange:

Mainland Banks: Some mainland banks, such as Bank of China, offer Hong Kong dollar exchange services. To exchange Hong Kong dollars, you must bring valid identification (such as a foreign passport, permanent residence ID card, etc.), and relevant supporting documents (if required) to a bank's personal foreign exchange branch.
Hong Kong Banks: In Hong Kong, you can exchange Hong Kong dollars at local banks with valid identification. Examples include HSBC, Bank of China (Hong Kong), and Bank of East Asia. At HSBC, for example, there's no limit on the amount foreign currency can be purchased by overseas customers, but they must present valid identification and relevant supporting documents at the local branch.

Airport Exchange: Hong Kong airports have currency exchange counters, and some airports also have self-service foreign currency exchange machines. For example, the ICBC self-service foreign currency exchange machine at Zhanjiang Wuchuan International Airport accepts eight major foreign currencies, including US dollars and Hong Kong dollars. It's available in nine languages, and you simply place your ID for identity verification.

Exchange at a Money Changer: There are numerous money changers in Hong Kong's commercial centers and busy areas. When choosing a money changer, ensure they are legally compliant and have the relevant certification logo displayed. Before making an exchange, be sure to understand the exchange rate and handling fees, and compare prices at different shops before making a decision.

Currency Exchange Precautions

Prioritize formal channels：Avoid unlicensed exchange shops (often marked by unclear rate boards or aggressive promotions) to prevent fraud or unfair exchange rates; opt for reputable banks (e.g., HSBC, Bank of China (Hong Kong)) or licensed exchange stores with clear "Money Service Operator" licenses displayed.
Confirm rates and fees upfront：Ask about both the exchange rate and any hidden fees (e.g., service charges, commission) before exchanging—some shops may advertise "no commission" but offer poor rates, while banks may charge a small service fee for non-account holders.
Choose appropriate banknote denominations：Request more HK$100 and HK$500 notes; many small shops, street food stalls, or taxi drivers may refuse HK$1,000 notes due to counterfeit concerns.
Keep exchange receipts：Retain receipts for currency exchange, as some establishments may require them for returns or large purchases, and they help resolve disputes if issues arise.

How to Pay for Things in Hong Kong

1.Cash Payment

The Hong Kong dollar is the official currency of Hong Kong. Cash remains the primary payment method in small shops, traditional markets, street food stalls, and some taxis. While some merchants may accept foreign currencies like the US dollar, this may involve unfavorable exchange rates or fees, so it's recommended that you prepare a sufficient amount of Hong Kong dollars in cash.

2.Octopus Card:

The Octopus Card is a very convenient payment method, valid on Hong Kong's public transportation, including the MTR, buses, minibuses, taxis, trams, and the Star Ferry. It can also be used at convenience stores, restaurants, cafes, vending machines, museums, cinemas, and other places. Visitors can purchase Octopus Cards at the Customer Service Center of MTR stations, 7-Eleven convenience stores, and Airport Express service counters.

3.Credit and Debit Cards

Visa, Mastercard, UnionPay, and American Express are widely accepted in Hong Kong at retail stores, supermarkets, restaurants, hotels, and online. Payments made with a credit or debit card are generally settled at the prevailing exchange rate of the day.

4.Mobile Payments

You can link your Visa card to e-wallets like WeChat Pay and Alipay, allowing you to scan and pay wherever wallet payments are available. Mobile payment methods like Apple Pay and Google Pay are also widely accepted in Hong Kong and can be linked to supported bank cards.

5.Other payment methods

Hong Kong's Faster Payment System (FPS) connects more than 36 banks and 10 stored-value facilities, providing real-time multi-currency payment services. Users can use their phone number or email to conduct secure transactions. It is suitable for person-to-person transfers, recharging e-wallets, paying university tuition and fees, online shopping, etc.

Payment Precautions

Carry a moderate amount of cash (HK$500–HK$2,000) for small purchases (e.g., street food, local markets) where cards/mobile payments may not be accepted; avoid flaunting large sums of cash to prevent theft.
Inform your home bank of your Hong Kong travel plans in advance to avoid card freezes due to unusual overseas transactions.
When paying with credit/debit cards, confirm whether the transaction will be settled in HKD or your home currency (settling in HKD usually offers a more favorable exchange rate, as dynamic currency conversion"by merchants may include extra fees).
Check for card acceptance signs (e.g., Visa, Mastercard, UnionPay logos) before making purchases—most large retailers accept international cards, but small shops may only take cash.
If using WeChat Pay/Alipay, ensure your linked Visa/Mastercard is valid and that the platform supports international cards; for Apple Pay/Google Pay, verify that your card issuer allows contactless payments in Hong Kong.
Purchase a "Visitor Octopus Card" (no deposit required for some types) for daily commutes and small purchases, but remember it is a stored-value card—top up only the amount you need, as refunds for unused balances may involve administrative fees.
When using Hong Kong’s Faster Payment System (FPS) for transfers, double-check the recipient’s phone number/email (linked to their bank account) to avoid sending funds to the wrong person; FPS is mainly for local transfers, so confirm if your home bank supports cross-border FPS transactions if needed.

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