Sending Money to Europe From Hong Kong: The 5 Cheapest Ways for Businesses in 2026

If you run a Hong Kong business that pays suppliers, contractors, or partners in Europe, you've probably noticed the same thing every time: the amount that leaves your account is never quite the amount your recipient confirms they got. Somewhere between Hong Kong and the UK, Germany, or France, a chunk of your money disappears, and it's rarely obvious where.

That gap comes from two costs stacking on top of each other: a transfer fee, and an exchange rate that's quietly worse than the one you'd see on Google. Most businesses only notice the fee. The exchange rate markup is usually bigger, and it's the one traditional banks rarely explain upfront.

This guide ranks the five real ways a Hong Kong business can send money to Europe, from cheapest to most expensive, with what each one actually costs and who it makes sense for. It complements our guide to the best international money transfer apps if you're comparing consumer-side options too. Paying a European supplier once a quarter calls for a different answer than paying twelve contractors every month.

Comparing the 5 Methods at a Glance

Fees and margins reflect publicly available pricing as of August 2026. "From" pricing indicates the minimum. Actual costs depend on the currency, amount, and your account type.

What Actually Makes a Transfer to Europe Expensive

Every method for sending money abroad charges you in one of two ways, and usually both: a transfer fee (the charge you can see) and an exchange rate margin (the charge that's baked into the numbers).

According to MoneySavingExpert's August 2026 guide to sending money abroad, high-street banks typically price their exchange rate up to three percentage points worse than the interbank rate (the rate banks themselves use to trade with each other), while specialist currency brokers usually stay within about 1% of it.

That 2–3 percentage point gap sounds small until you're paying a European supplier EUR 20,000 a month. At 2%, that's EUR 400 disappearing into the exchange rate every single payment, before any wire fee is even added.

The fix isn't complicated: use a payment rail that either skips the currency conversion entirely (a local account or SEPA transfer, if you're already holding or receiving euros) or prices the conversion close to the mid-market rate and tells you the number upfront.

1. Local European Accounts

A local European account gives your Hong Kong company local account details in a specific European market (e.g., a UK sort code and account number, a German IBAN, a Danish account number) so you can pay and get paid the way a local business would, without routing every transaction through SWIFT.

Since Statrys launched local European accounts on 9 July 2026, clients with a Hong Kong business account can open local accounts in five European markets directly from their existing Statrys account: the UK (GBP), Germany (EUR IBAN, usable across the SEPA zone), Luxembourg (EUR IBAN, usable across the SEPA zone), Denmark (DKK), and Liechtenstein (CHF, usable in Liechtenstein and Switzerland). GBP and EUR sending is free. For other currencies, check current fees on the Statrys pricing page before you commit to a payment schedule.

In practice, this means a Hong Kong trading company paying a UK supplier can send GBP directly from a UK-style account number, instead of paying a SWIFT fee and an FX markup to move HKD or USD into GBP first. The same applies to European customers paying you: sharing local account details on your invoice makes it easier for them to pay, and it can also change how your business appears to a European counterparty, less like a foreign sender, more like a local one.

Eligibility is straightforward: any Statrys Hong Kong business account holder can request a local account from the Digital Backoffice by selecting "open additional account" and choosing the jurisdiction. Singapore-only clients need a Hong Kong business account first. Each jurisdiction is requested individually; requests are typically reviewed within 1–2 working days, and you can hold accounts in more than one market at once. Local accounts add payment routes, but they don't replace your existing multi-currency Statrys account.

2. SEPA Transfers for Euro Payments

SEPA (the Single Euro Payments Area) is a payment scheme that lets euro transfers move between bank accounts in member countries as if they were domestic payments, rather than international wires.

According to the European Payments Council, the scheme currently covers 41 countries and territories: the 27 EU member states plus the UK, Iceland, Norway, Liechtenstein, Switzerland, Monaco, San Marino, Andorra, Vatican City, Montenegro, Albania, North Macedonia, Moldova, and Serbia.

If you're already holding euros (through a Statrys Germany or Luxembourg local account, for example), a SEPA transfer to any business or supplier in one of those 41 markets is usually free or carries a small flat fee, and typically settles the same working day. This is the cheapest way to move euros anywhere in Europe once you have a euro-denominated account to send from.

The catch is that SEPA only covers euro payments. If your supplier invoices in GBP, DKK, or CHF, you'll need the matching local account or a currency conversion first, which is exactly what the local European account setup above is designed to solve.

3. Multi-Currency Business Accounts

If your business pays suppliers or contractors in several European currencies, and a dedicated local account isn't available for one of them, a multi-currency business account is usually the next cheapest route. These accounts are priced closer to the mid-market exchange rate than a traditional bank and show you the fee before you send.

Wise Business

Wise Business serves over 700,000 businesses moving GBP 12 billion a month, according to Wise's own figures. It holds 40+ currencies and offers local receiving account details in 22 of them, uses the live mid-market rate plus a disclosed fee rather than a hidden markup, and applies an automatic volume discount once your monthly transfers pass GBP 20,000 (or the equivalent). Batch payments let you pay up to 1,000 contacts in a single click, which matters if you're running monthly payroll or supplier runs across several European countries.

OFX Global Business Account

OFX's Global Business Account supports 30+ currencies and, according to OFX, offers local account details in USD, CAD, GBP, and EUR specifically, alongside batch payment tools that sync with Xero and QuickBooks. OFX doesn't charge a dedicated transfer fee. The cost is built into the exchange rate margin instead, so it's worth comparing the actual rate you're offered against the mid-market rate before assuming it's cheaper than the alternatives.

Neither Wise nor OFX currently links a European local account to a Hong Kong-domiciled business account the way Statrys does. That’s worth weighing if your primary banking relationship is already in Hong Kong.

4. Specialist FX Brokers for Large One-Off Payments

For a large, infrequent payment (a deposit on a European property, a one-time capital equipment purchase, a contract settlement), a specialist FX broker usually beats every option above.

According to MoneySavingExpert, brokers handling larger transfers typically don't charge a transfer fee at all; they make their margin on the exchange rate, usually within about 1% of the interbank rate, and the savings on a large amount can be substantial. A 1% improvement in the rate on a EUR 100,000 payment is roughly EUR 1,000 back in your pocket compared with a worse rate.

The trade-off is that brokers are built for occasional large transfers, not the recurring smaller payments a trading business makes every month. That's where a local account or multi-currency account earns its keep instead.

5. Traditional Bank SWIFT Wire

A SWIFT wire through your existing Hong Kong bank is the most familiar option and, for most businesses, the most expensive. You typically pay a flat outward transfer fee on top of an exchange rate that's marked up against the interbank rate, often by a meaningfully wider margin than a specialist provider charges, per MoneySavingExpert's analysis above. SWIFT payments also take longer: typically 1–5 business days, depending on how many intermediary banks the payment passes through.

A SWIFT wire still has its place: for a one-off payment to a country or currency none of the options above cover, it's the fallback that works everywhere. It shouldn't be the default for a payment you make every month.

How to Choose the Cheapest Method for Your Business

Match the method to how you actually pay, not to whichever option you've always used:

• Paying the same European market every month (UK, Germany, Luxembourg, Denmark, Liechtenstein): open a local account in that market. It's free for GBP and EUR, and it removes the wire fee and FX markup entirely for those payments.
• Paying multiple SEPA countries in euros: hold a euro-denominated account (a German or Luxembourg local account works) and send via SEPA. Same-day, usually free.
• Paying several currencies, several suppliers, every month: a multi-currency business account with batch payment tools cuts down both the FX cost and the admin of approving payments one at a time.
• Sending one large, infrequent payment: get quotes from a specialist FX broker before defaulting to your bank. The savings on a single large transfer are usually worth the extra step.
• Sending a one-off payment to a market none of the above cover: a SWIFT wire is still the reliable fallback, just budget for the higher cost.