Receiving Foreign Currency Cheque in Hong Kong

How is receiving Foreign Currency Cheque in Hong Kong?

Most of the banks in Hong Kong can deposit foreign currency cheques into the account in their banks. Different banks may have different rates and number of days hold. In this post, I list some information of depositing foreign currency cheques in two Hong Kong banks, and by PayPal (not by cheque, ask the buyers to send money by PayPal. You can withdraw the money from PayPal). This post is for information only on receiving foreign currency cheques, I do not guarantee the information here is accurate, up to date, or correct. Please query the bank for the accurate information on receiving foreign currency cheque.

Hang Seng Bank

Hang Seng Bank takes 0.2% commission on receiving foreign currency cheque, but the commission should be at least HK$60. If you receive a cheque with amount less than HK$ 30000 (in foreign currency), the fee is HK$ 60.

Bank of China, Hong Kong

BOC’s commions rate is HK$70 for each cheque.


PayPal also offers a sending money overseas service, and you can transfer money into it from a bank account or credit card. PayPal charges a cross-border transaction fee for the person receiving the funds.

The cross-border transaction fee rate is up to 3.9% + $2.35 HKD depending on the merchant rate. For all rates please see the rate on PayPal.

For example, to receive US$250, the fee that the receiver should pay is $250*3.9% + $0.30 (for HKD2.35) ~= $10.05. That’s around HK$78 at the conversion rate when I write the post.

Withdrawing money from PayPal is free if $1,000.00 HKD or more is withdrawn. However, please be aware that conversion rate may apply. You may have to accept the exchange rate of PayPal to convert the foreign currency to HKD. Please see more details on PayPal.