Money Exchange

My mom was told that it is better to use her credit card to pay for major expenses during her visit in Hong Kong. It turned out that some places do not accept credit card payments while others charge a 2-3% service charge. My mom accumulated a debt of over $3,000 shortly after her arrival in Hong Kong.

It was time to visit a bank to exchange for Hong Kong dollars. An auntie accompanied my mom and sister because service fees can be waived for having an account with the bank. The “mission” failed at the first bank they visited. This bank does not accept Canadian dollars for currency exchange. My mom has US traveler cheques but they only accept cash.

Off they went to a second bank and this bank accepts cash and traveler cheques of both Canadian and US dollars. Service fee of $50 can be waived if the exchange value is over $3,000. My mom proceeded to sign her traveler cheques and was then told that there is a service charge of $60 for cheques. My mom decided to continue with the transaction as she was in need of Hong Kong currency. Unfortunately, the transaction could not be completed because she did not have the original copy of her passport. All the passports have been submitted for visa approval and will not be available till May 7. They went home to gather cash and returned to the bank to accomplish the mission.