When planning a vacation abroad, it's important to have local currency on hand. Even though many places accept cashless payments, there are still some transactions where cash is necessary.
One way to get local currency is to exchange your money at a currency exchange service, or you can withdraw it from an ATM once you arrive at your destination. My husband and I prefer to use the latter.
Withdrawing money from an ATM can be more cost-effective. This is because the transaction fees are usually lower, and the exchange rates are often closer to the actual market rate. These rates are set by the banks or the credit card networks.
In this article, I'm going to show you how to get money from an ATM in Hong Kong. Stay tuned!
Firstly, locate the nearest ATM. If you're looking to get cash as soon as you land in Hong Kong, you'll find ATMs at the airport.
Commonly available ATMs are from HSBC, Bank of China, and Citi Bank. You can find these in Terminal 1, both in the Arrivals and Departures sections. Using these ATMs is generally the same. Here, I will explain how to withdraw cash using a Bank of China ATM.
To begin, insert your card into the ATM. Cards that are generally accepted include those with the VISA, Mastercard, or JCB logo.
At the Bank of China ATMs, it's unclear which other card types they accept besides the ones I've listed. So, to be on the safe side, it's best to use cards with VISA, Mastercard, or JCB logos.
Once your card is inserted, you'll need to select a language for the transaction. As I don't speak Chinese, I opted for English.
Next, the ATM will display information about any international fees that apply when using an ATM abroad. If you're okay with these charges, select "Yes" to continue with your transaction.
Now, you need to enter the PIN for your debit card. Be cautious to ensure that no one else can see your PIN as you enter it. After that, a prompt will appear asking you to choose the source of funds. This could be from your credit card, savings account, or checking account.
I usually select the savings account option. Also, please note the 'remaining time' indicator at the top right of the screen. This means that each action you take on the ATM is timed, usually for about 30 seconds.
For instance, when you're entering your PIN, you have 30 seconds to complete it. The same time limit applies when you're selecting the source of funds and the type of transaction you want to make. So, my advice is to read the instructions quickly and clearly.
First, choose the type of transaction you wish to make. There are two options available; Withdrawal and Balance Inquiry. To withdraw money, select the 'Withdrawal' option.
Once you've chosen to withdraw money, the ATM screen will display the available amounts you can withdraw. At this Bank of China ATM, you cannot enter a specific amount manually.
The maximum amount you can withdraw in a single transaction is HK$2,500. This limit is preset and automatic. Also, the ATM dispenses cash only in HK$500 denominations. Unlike some ATMs in Japan, you cannot request different denominations.
So, my husband and I selected the HK$2,500 option, which is usually located at the bottom right of the screen. If you need to withdraw more than HK$2,500, you'll need to complete the first transaction and then start a new one to withdraw additional cash. After making your selection, the transaction will be processed right away.
Lastly, don’t forget to collect your money and the receipt from the ATM. It’s crucial to check that you haven’t left anything behind, including your card. These are the steps for withdrawing money from ATMs in Hong Kong, along with some of the unique features I've noticed.
I'm not sure if other ATMs operate in the same way or differently. Perhaps some of you have experience withdrawing money from Citi Bank or HSBC ATMs? If so, how was your experience? Please share your thoughts in the comments section!
