Money in Hong Kong

Octopus first, cards second, cash for the corners

Hong Kong runs on the Octopus card — physical or in your phone's wallet — which pays for the MTR, buses, ferries, convenience stores, fast food, vending machines, and most quick meals. International cards (Visa/Mastercard, with Amex patchier) are widely accepted in malls, restaurants, and hotels, and contactless is the norm. But a distinct cash layer survives: dai pai dong street kitchens, wet markets, red minibuses, many taxis, and some cha chaan teng diners take cash or Octopus only. Carry some Hong Kong dollars and top up an Octopus on arrival at the airport — it is the single most useful purchase of the trip.

ATMs everywhere; refuse dynamic currency conversion

ATMs from HSBC, Bank of China, and Hang Seng blanket the territory, including the airport and MTR stations, and most accept international cards on the Plus/Cirrus networks. Fees are set by your home bank rather than steep local surcharges, so fewer, larger withdrawals are usually cheapest. If a terminal or ATM offers to charge you in your home currency instead of Hong Kong dollars, decline — dynamic currency conversion adds a hidden 3-5% margin. Choose HKD every time.

The peg keeps rates predictable; skip the airport counters

The Hong Kong dollar has been pegged at roughly 7.75-7.85 HKD per US dollar since 1983, so exchange rates are stable and transparent. Licensed money changers in Tsim Sha Tsui and Central (compare the posted buy/sell spread) generally beat both airport counters and hotel desks; banks often add commissions for small amounts. For most visitors the practical answer is simpler: withdraw HKD from an ATM with a low-fee card and skip cash exchange entirely.

Tipping is minimal — the 10% service charge does the work

Hong Kong has no strong tipping culture. Restaurants typically add a 10% service charge to the bill; beyond that, leaving the small coins or rounding up is entirely sufficient. Taxis expect only the fare rounded to the nearest dollar, hotel porters a modest amount per bag, and no one expects a percentage tip at casual eateries, cafes, or bars without table service. Street food stalls and cha chaan tengs: pay the listed price, nothing more.