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How can I try to reduce the currency exchange fees when making payment via Telegraphic Transfer (T/T)?

To try to reduce the additional fees involved during the currency exchange part of bank transfers (mainly USD to HKD), we advise the following when making the bank transfer:

1) Please make sure you request the transfer to be both sent and received in the original currency.

2) The payer should specify which intermediary bank should process the currency exchange. Recommended intermediary banks are Citibank and Bank of China as these provide the lowest rates.
The intermediary bank details are as follows:

Bank: Citibank N. A. (New York)
Currency: USD
SWIFT Code: CITIUS33
 
OR
 
Bank: Bank of China (New York branch)
Currency: USD
SWIFT Code: BKCHUS33
 
 
 

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