Comments on: How To Transfer Money Out Of China http://www.randomwire.com/how-to-transfer-money-out-of-china?utm_source=rss&utm_medium=rss&utm_campaign=how-to-transfer-money-out-of-china Exploring asian culture, travel and technology Sun, 12 Feb 2012 04:41:29 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: marjorie http://www.randomwire.com/how-to-transfer-money-out-of-china/comment-page-1#comment-45656 marjorie Wed, 25 Jan 2012 15:25:25 +0000 http://www.randomwire.com/?p=2142#comment-45656 Just a query..my bf is in the process of moving out from China and retiring here in the Philippines. He said his lawyer transferred all his funds in a bank here in the Philippines and been waiting for a confirmation. My question is how long does it take for him to get a confirmation both from the bank here and his bank in China? And is it true that he will not be able to withdraw money from his bank account in China while it's still in the process of transferring all his funds? He cancelled his work and residence permit already...that is what he told me. Some opinions will be very much appreciated Just a query..my bf is in the process of moving out from China and retiring here in the Philippines. He said his lawyer transferred all his funds in a bank here in the Philippines and been waiting for a confirmation. My question is how long does it take for him to get a confirmation both from the bank here and his bank in China?
And is it true that he will not be able to withdraw money from his bank account in China while it’s still in the process of transferring all his funds? He cancelled his work and residence permit already…that is what he told me.

Some opinions will be very much appreciated

]]> By: Ketan http://www.randomwire.com/how-to-transfer-money-out-of-china/comment-page-1#comment-45565 Ketan Mon, 16 Jan 2012 12:48:50 +0000 http://www.randomwire.com/?p=2142#comment-45565 Do you atleast remember vaguely/approx how much is the fee to transfer from one of these banks Bank of Moscow or transkredit bank in Moscow?Thanks! Do you atleast remember vaguely/approx how much is the fee to transfer from one of these banks Bank of Moscow or transkredit bank in Moscow?Thanks!

]]> By: Mike http://www.randomwire.com/how-to-transfer-money-out-of-china/comment-page-1#comment-45380 Mike Mon, 09 Jan 2012 16:20:32 +0000 http://www.randomwire.com/?p=2142#comment-45380 Hello! A Chinese person who lives in Hong Kong is moving to the UK and is buying my house. You literally couldn't write the script so far, but the saga finally seems to be drawing to a close! I received word that the buyer transferred the money from an account in Hong Kong last Thursday (UK Thursday - not sure about time differences!). Does anyone have any idea how long this transfer process can take? Thanks for any opinions, Mike Hello!

A Chinese person who lives in Hong Kong is moving to the UK and is buying my house.

You literally couldn’t write the script so far, but the saga finally seems to be drawing to a close!

I received word that the buyer transferred the money from an account in Hong Kong last Thursday (UK Thursday – not sure about time differences!).

Does anyone have any idea how long this transfer process can take?

Thanks for any opinions,

Mike

]]> By: Biji http://www.randomwire.com/how-to-transfer-money-out-of-china/comment-page-1#comment-45349 Biji Sat, 07 Jan 2012 05:47:45 +0000 http://www.randomwire.com/?p=2142#comment-45349 Hi, My husband has recently moved to China. Is Western Union Money Transfer good, (meaning cheap and hassle free)? Need your expert advise please. Also, he will be needing to transfer the amount on a monthly basis. Hi,

My husband has recently moved to China. Is Western Union Money Transfer good, (meaning cheap and hassle free)?

Need your expert advise please. Also, he will be needing to transfer the amount on a monthly basis.

]]> By: Clive http://www.randomwire.com/how-to-transfer-money-out-of-china/comment-page-1#comment-45192 Clive Thu, 15 Dec 2011 12:47:56 +0000 http://www.randomwire.com/?p=2142#comment-45192 My understanding (and experience) is that foreigners can transfer out any amount as long at they have tax certificates to prove they paid tax on that amount. As others have said, it can be very hard to find a bank which is approved to do overseas transfers - then you have to find the specific person who is trained and authorised to go through the process, which is quite complex. Allow 2 hours the first time - and be prepared to come back the next day to complete the process with the document you forgot the first time! Some staff will try to dissuade you from doing it because it causes them a lot of work - I recently had a manager tell me that foreigners are subject to the USD50k per year limit which applies to Chinese citizens. My understanding (and experience) is that foreigners can transfer out any amount as long at they have tax certificates to prove they paid tax on that amount. As others have said, it can be very hard to find a bank which is approved to do overseas transfers – then you have to find the specific person who is trained and authorised to go through the process, which is quite complex. Allow 2 hours the first time – and be prepared to come back the next day to complete the process with the document you forgot the first time! Some staff will try to dissuade you from doing it because it causes them a lot of work – I recently had a manager tell me that foreigners are subject to the USD50k per year limit which applies to Chinese citizens.

]]> By: chris http://www.randomwire.com/how-to-transfer-money-out-of-china/comment-page-1#comment-45185 chris Wed, 14 Dec 2011 05:23:25 +0000 http://www.randomwire.com/?p=2142#comment-45185 I tried this yesterday and was indeed told that I needed the documentation you listed. It also seems that a lot of branches are incapable of, or too lazy, to help so it's worth finding the branch HQ. I wasn't told about any limits, somebody mentioned 3000, and I want to transfer 6000. Nightmare! There wasn't any problem receiving the £16,000 that i have transferred into China n the last 3 years, but now I want to send £600 back and it's like this! Family might not be getting Xmas prezzies this year =( I tried this yesterday and was indeed told that I needed the documentation you listed. It also seems that a lot of branches are incapable of, or too lazy, to help so it’s worth finding the branch HQ.
I wasn’t told about any limits, somebody mentioned 3000, and I want to transfer 6000.
Nightmare! There wasn’t any problem receiving the £16,000 that i have transferred into China n the last 3 years, but now I want to send £600 back and it’s like this! Family might not be getting Xmas prezzies this year =(

]]> By: bzh http://www.randomwire.com/how-to-transfer-money-out-of-china/comment-page-1#comment-45085 bzh Tue, 29 Nov 2011 09:26:08 +0000 http://www.randomwire.com/?p=2142#comment-45085 Very interesting post, thanks to all participating members to share experience . 2 more question though : - if you succed to exchange your RMB to foreign currency in China, there is no limit to transfer out this foreign amount?- - Danny mention about HSBC HK, but means you need to carry cash in HK and exchange there right? or you can have a RMB account in HK? Thanks! Very interesting post, thanks to all participating members to share experience
. 2 more question though :
- if you succed to exchange your RMB to foreign currency in China, there is no limit to transfer out this foreign amount?-
- Danny mention about HSBC HK, but means you need to carry cash in HK and exchange there right? or you can have a RMB account in HK?

Thanks!

]]> By: peiman http://www.randomwire.com/how-to-transfer-money-out-of-china/comment-page-1#comment-44942 peiman Thu, 27 Oct 2011 14:17:57 +0000 http://www.randomwire.com/?p=2142#comment-44942 Thanks for this post, it was helpful. In my case I just transferred 240 USD out of china using the communication bank. The total charge was 184 RMB. They told me that if I come here with a Chinese friend to the transfer the fund in their name the charge would be lower but they did not know by how much. They also said that it may take at least one week to process. Thanks for this post, it was helpful. In my case I just transferred 240 USD out of china using the communication bank. The total charge was 184 RMB. They told me that if I come here with a Chinese friend to the transfer the fund in their name the charge would be lower but they did not know by how much. They also said that it may take at least one week to process.

]]> By: Busra http://www.randomwire.com/how-to-transfer-money-out-of-china/comment-page-1#comment-44926 Busra Wed, 26 Oct 2011 16:29:41 +0000 http://www.randomwire.com/?p=2142#comment-44926 Hello! So how much FX a foreigner is allowed to transfer out of China, maximum? $500 per day or per month? A friend told me $500 in a year!!! It can not be true right? And is this amount limitation all same for Western Union, MoneyGram, bank accounts? Hello!

So how much FX a foreigner is allowed to transfer out of China, maximum?
$500 per day or per month? A friend told me $500 in a year!!! It can not be true right?
And is this amount limitation all same for Western Union, MoneyGram, bank accounts?

]]> By: David http://www.randomwire.com/how-to-transfer-money-out-of-china/comment-page-1#comment-44924 David Wed, 26 Oct 2011 08:07:01 +0000 http://www.randomwire.com/?p=2142#comment-44924 Thanks for the update Danny - that's some very useful info. Thanks for the update Danny – that’s some very useful info.

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