Frequently Asked Questions

• What's the cheapest way to send money from Hong Kong to Japan?

  The cheapest way to send money from Hong Kong to Japan is through an online provider. Among the 11 available, OFX was most often the cheapest provider (in 82.8% of the searches on Monito.com in the past 3 months).

• What are the best providers to send money from Hong Kong to Japan?

  Here are the providers that were the most often the cheapest in the comparisons of the past 30 days on Monito.com:

  • OFX (cheapest in 82.8% of the searches)
  • Western Union (cheapest in 12.9% of the searches)
  • MoneyGram (cheapest in 4.3% of the searches)
• How much does it cost to send money from Hong Kong to Japan?

  If you send money with the cheapest available provider, the total cost of a HKD-JPY transfer was 0.4% of the transfer amount (including all fees and exchange rates) over the past month.

  In contrast, the cost of the most expensive option was 9.3%.

• What is the cost of making an international transfer from Hong Kong to Japan using my bank?

  The average total cost (including hidden exchange rate markup) of making a HKD-JPY transfer with banks compared by Monito.com during the past months was 5.4% of the transfer amount. This is 14.6x more expensive than sending money with the cheapest online provider alternative.

  For a 60000 HKD transfer, this represents a saving potential of around 2991.2 HKD.

• Is Western Union a good option for sending money from Hong Kong to Japan?

  Western Union is a popular provider, with the biggest agent location network. The average cost of online money transfers from Hong Kong to Japan with Western Union* is 0.6% of the amount you send, whereas the cheapest online services have an average cost of 0.4%.
  
  MoneyGram is the provider that is most often the cheapest for money transfers to a cash pick-up location in Japan.
  
  *Sending money from physical agent locations with Western Union is usually much more expensive than using their online service.

• What's the cheapest provider to send money from Hong Kong to a cash pick-up location in Japan?

  Over the past 3 months, the provider that was most often the cheapest for cash pick-up transfers in Japan was MoneyGram, with an average cost of 1.2% of the amount you send (includes fees + exchange rate margin).
  
  The average total cost to send to a bank account rather than to a pick-up location during the same period was 0.4%. OFX was the provider most often the cheapest for transfers to bank accounts in Japan.

• What is the fastest option to send money from Hong Kong to Japan

  The provider that was most often the fastest provider in comparisons of the past 30 days was Wise (average fastest transfer time: In minutes)