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Be very careful when u change foreign currency in HK...

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  • Be very careful when u change foreign currency in HK...

    During my last trip to HK, had a very unpleasant experience with a money changer there.

    I waitde for my wife at the MTR as she was going to change some Hong kong dollars. So i let her do the walking and when she return, i was shock to see that the exchange rate to be S$1 to HK$4.62 which is a ripped off as the rate should be around S$1 to HK$5.2.

    So i took my slip back to the money changer and asked her to return me the money which obviously she declined.

    When i look at the board, the rate is extremely weird, big spread between the bid and offer rate. 4.76 and 5.96. This is a very big spread which is very unreasonable. I have been to many countries and never see something like that before and therefore, allow my wife to do the changing. She is not well verse is such matters and she accepted the rate and signed on the slip. So no choice, have to honour it. I had calculated, the "losses" for this transaction amounts to S$50, on top of whatever they are earning usually.

    S$600 to HK$2856 (based on 4.76)
    S$600 to HK$3120 (based on 5.2)
    HK$3120 - HK$ 2856 = HK$264
    Translate back to singapore dollars based on her rates= S$55.46.

    Do be very careful when changing money. Please look at both the buy and sell and the rates should not be too big... around 3% to 5% should be ok... cos banks should only be around 1%...

    For example today's rate for HK$ today buy at .1828 and sell at .1808

  • #2
    Most Hk money changer jialat 1 lah, if not all and yes u must be careful when u exchange money in HK.

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    • #3
      All the money changers in Hong Kong are like that, so your wife didn't get scammed.

      It is always better to change HKD in Singapore. Even credit card exchange rate @ 5.3-5.4...albeit low, but still makes more sense than changing at the money changers over there.

      The forex spread that they take is crazy.....Sounds like a business plan??? hehehe
      [FONT="Verdana"][B]The Best Dive Is Always The Next One[/B][/FONT]

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      • #4
        so far i have not encountered this kind of issue in HK....at bangkok yes...but not in HK...

        P.S: i hammer the bugger if any of the money changer decided to pull such a stunt on me...
        Courage is what it takes to stand up and speak

        Courage is also what it takes to sit down and listen

        Quoted from Sir Winston Churchill

        Comment


        • #5
          Originally posted by feilong108 View Post
          so far i have not encountered this kind of issue in HK....at bangkok yes...but not in HK...

          P.S: i hammer the bugger if any of the money changer decided to pull such a stunt on me...
          wah bro u fierce lei

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          • #6
            Originally posted by feilong108 View Post
            so far i have not encountered this kind of issue in HK....at bangkok yes...but not in HK...

            P.S: i hammer the bugger if any of the money changer decided to pull such a stunt on me...
            The bangkok guy still alive anot? But then again, BKK mostly girls in the forex booth...:P
            [FONT="Verdana"][B]The Best Dive Is Always The Next One[/B][/FONT]

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            • #7
              i implanted my knuckles print in one of the money changer in bbk....right in the middle of patpong nite market...i am sure he still remember me for sure...hahahaha
              Courage is what it takes to stand up and speak

              Courage is also what it takes to sit down and listen

              Quoted from Sir Winston Churchill

              Comment


              • #8
                Originally posted by caeden View Post
                The bangkok guy still alive anot? But then again, BKK mostly girls in the forex booth...:P
                Maybe thats the reason why the money exchange girls are still alive after encountering Bro feilong...

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                • #9
                  btw HK is okie de lar...i go there a few times a year...so far so good....just that the wallet always have holes when come back...have to stay here to mend holes 1st...hahaha...
                  Courage is what it takes to stand up and speak

                  Courage is also what it takes to sit down and listen

                  Quoted from Sir Winston Churchill

                  Comment


                  • #10
                    hahahaha..those who seen me b4 will know whether i garang anot...lol...
                    Courage is what it takes to stand up and speak

                    Courage is also what it takes to sit down and listen

                    Quoted from Sir Winston Churchill

                    Comment


                    • #11
                      Originally posted by feilong108 View Post
                      i implanted my knuckles print in one of the money changer in bbk....right in the middle of patpong nite market...i am sure he still remember me for sure...hahahaha
                      Wa... bro, relax... in BKK they used guns and not knuckles... Just kidding. But do be very careful when you are in BKK and i had stayed there before for around a year and you would be very surprise to know whatever is happening in that country.

                      Cost of whacking a man using one man.... 500 baht which is about 20 sing dollars. So just pay 200 sing and you can ask 10 men to whack a guy liao....This is like 5 years ago... dunno how much now.

                      At one point, when i was in northern thailand, somewhere near the golden triangle, i lost my way and drive into some plantation... was approached by 4 men holding guns!!!

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                      • #12
                        VERY garang!!
                        [FONT="Verdana"][B]The Best Dive Is Always The Next One[/B][/FONT]

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                        • #13
                          Originally posted by feilong108 View Post
                          hahahaha..those who seen me b4 will know whether i garang anot...lol...

                          i think next time go overseas must chio u along liao hehe

                          Comment


                          • #14
                            well...depend on the group u r in...hehehe....i live to tell my encounters so far...hehehe..no missing fingers or head....

                            Thanks sportee for your kind advice...the incident happened when i was young and reckless...now i am old and feeble i not longer throw caution to the wind as previously...

                            P.S: peace loving guy nowadays....
                            Courage is what it takes to stand up and speak

                            Courage is also what it takes to sit down and listen

                            Quoted from Sir Winston Churchill

                            Comment


                            • #15
                              Originally posted by kenkelvin View Post
                              i think next time go overseas must chio u along liao hehe
                              Thanks bro kenkelvin....need my address in order to send me the free air ticket?

                              Just kidding...hehehe..i tink i am in the same industry as u many years back...so i am sure u r a garang man as well....
                              Courage is what it takes to stand up and speak

                              Courage is also what it takes to sit down and listen

                              Quoted from Sir Winston Churchill

                              Comment

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