Moving SO back to the states...

[Beermann]

My parents are coming to Shanghai soon to help us move and we are trying to see what is the best way to take my wife's money with us. Ideally we would like to convert the money to USD before we go and then split it up 4 ways and put it in our carry-on bags. Or can we get Traveler's Checks issued at a Chinese bank? Does anyone know what the maximum per person is we can get through Customs? Also, is there anything else we should know about such as taxation or anything? I couldn't imagine being taxed as it is already our money and has been taxed in China. Thanks!

Edited May 16, 2006 by Beermann (see edit history)

[Guest pushbrk]

My parents are coming to Shanghai soon to help us move and we are trying to see what is the best way to take my wife's money with us. Ideally we would like to convert the money to USD before we go and then split it up 4 ways and put it in our carry-on bags. Or can we get Traveler's Checks issued at a Chinese bank? Does anyone know what the maximum per person is we can get through Customs? Also, is there anything else we should know about such as taxation or anything? I couldn't imagine being taxed as it is already our money and has been taxed in China. Thanks!

215229[/snapback]

Bring as much as you want. If you bring more than $10k each in US Currency, you'll need to declare it. The paperwork takes only a few minutes. There is not tax or duty of any kind.

 

If you lie and they catch you, the money is subject to siezure.

 

However, there are limits to how much you can convert at a time. Check with the Bank of China on that so you don't run out of time before you complete the conversion.

[Beermann]

My parents are coming to Shanghai soon to help us move and we are trying to see what is the best way to take my wife's money with us. Ideally we would like to convert the money to USD before we go and then split it up 4 ways and put it in our carry-on bags. Or can we get Traveler's Checks issued at a Chinese bank? Does anyone know what the maximum per person is we can get through Customs? Also, is there anything else we should know about such as taxation or anything? I couldn't imagine being taxed as it is already our money and has been taxed in China. Thanks!

215229[/snapback]

Bring as much as you want. If you bring more than $10k each in US Currency, you'll need to declare it. The paperwork takes only a few minutes. There is not tax or duty of any kind.

 

If you lie and they catch you, the money is subject to siezure.

 

However, there are limits to how much you can convert at a time. Check with the Bank of China on that so you don't run out of time before you complete the conversion.

215244[/snapback]

Thank you SOOO much for the reply! This is GREAT news for us as we didn't want to risk sending electronically overseas. -Brent

[LeeFisher3]

The legal amount to change is somewhere around $6000 for a Chinese national, but a Foreigner can usually exchange more.

 

To get USD you may end up needing to exchange the funds outside of the bank and take a bit of a loss on the transaction.

 

Another possiblity would be to open up an account with the Bank of China and get their Credit Card/Debit Card and withdraw or spend the money in the US. I understand they have a pretty good online banking web site as well.

[hankster]

I don't know about the currency issue, but I just noticed your K-3 timeline. 6.5 months from mailing I-129F to interview...........Great!!...

Edited May 16, 2006 by hankster (see edit history)

[Stone]

Why not leave the money in Chinese yuan deposits in China? You know the Chinese yuan is appreciating against the dollar over time.

 

Next time when you guys travel to China and want to spend money there, you don't want to get 4 yuans for each dollar you have.

[jtaylo69]

During the Last 6 months I was there, We decided to to use western Union. During the 6 months course, we would send around 2,000 USD 3 times a week. Each time sending it to family members here to deposit into my account back here in the states. Although yeah, a bit pricey, but far less hassels, far less worries.

 

When it came to boarding our plane, we had what remained broken down as follows:

 

$400 worth in Coins (1yuan, 5 yuan & notes)

$3,000 worth in 20 RMB & 100 RMB (packs)

$1,000 worth in 1, 10, & 50 yuan notes

$500 worth in 1,5,10 notes.

$5,500 in US Currentcy (which we had her family each take turns at several different banks having the RMB converted)

 

We were never questioned at any of the Airports (Nanning, Guangzhou, LAX or Atlanta.

 

That's how we did it.

 

Good Luck

 

We both carried the same amount

[ameriken]

I have heard about the $10,000/person rule for bringing money through a US POE, but I vaguely remember a question on one of the emigration forms you complete in China.....isnt there a limit on how much you can exit China with?

[ameriken]

Hey Brent, let us know when you are here, if you want we can take you on a quick tour of the asian markets here and have lunch at a 'real' chinese restaurant where the 'natives' go to eat. The food is great and she should enjoy tastes she knows that have not been 'Americanized'

[Guest pushbrk]

Hey Brent, let us know when you are here, if you want we can take you on a quick tour of the asian markets here and have lunch at a 'real' chinese restaurant where the 'natives' go to eat. The food is great and she should enjoy tastes she knows that have not been 'Americanized'

215439[/snapback]

There certainly is a limit to how much RMB you can take out and it's quite small, as I recall. Why anybody would want to take much out is beyond me, since you can't exchange it or spend it anywhere else.