Question about rental property in China...

[Beermann]

Before my wife and I leave for the States, we will be renting out her apartment. Most likely will give the tenant her Bank of China bank book to deposit the rent money on. So, my question is, what is the best way to get the money back in the U.S. each month? Is it possible to do an online bank transfer to a U.S. account using Bank of China's Online Banking or is there a better way? We can rent the apartment for a quite significant amount, so it would be very useful to us bank in the States. Thanks! -Brent

[Guest pushbrk]

Before my wife and I leave for the States, we will be renting out her apartment. Most likely will give the tenant her Bank of China bank book to deposit the rent money on. So, my question is, what is the best way to get the money back in the U.S. each month? Is it possible to do an online bank transfer to a U.S. account using Bank of China's Online Banking or is there a better way? We can rent the apartment for a quite significant amount, so it would be very useful to us bank in the States. Thanks! -Brent 

216886[/snapback]

If your wife has or can get an ATM card for her account at Bank of China, you can simply withdraw the cash at an ATM in the US.

 

If not, then open an account at a bank that will issue such a card and have the rent deposited there.

 

Wire transfers are expensive.

[Beermann]

Before my wife and I leave for the States, we will be renting out her apartment. Most likely will give the tenant her Bank of China bank book to deposit the rent money on. So, my question is, what is the best way to get the money back in the U.S. each month? Is it possible to do an online bank transfer to a U.S. account using Bank of China's Online Banking or is there a better way? We can rent the apartment for a quite significant amount, so it would be very useful to us bank in the States. Thanks! -Brent?B)

216886[/snapback]

If your wife has or can get an ATM card for her account at Bank of China, you can simply withdraw the cash at an ATM in the US.

 

If not, then open an account at a bank that will issue such a card and have the rent deposited there.

 

Wire transfers are expensive.

216889[/snapback]

She has the Great Wall card at Bank of China. It is an international debit/credit card/ATM card. But, the catch is it cannot be tied to your bank account. You must specifically put money/credit on the card to access any funds. I'm not sure if a tenant can deposit money directly onto the card versus depositing into her account...hmmm

Edited May 21, 2006 by Beermann (see edit history)

[Guest pushbrk]

Before my wife and I leave for the States, we will be renting out her apartment. Most likely will give the tenant her Bank of China bank book to deposit the rent money on. So, my question is, what is the best way to get the money back in the U.S. each month? Is it possible to do an online bank transfer to a U.S. account using Bank of China's Online Banking or is there a better way? We can rent the apartment for a quite significant amount, so it would be very useful to us bank in the States. Thanks! -Brent?B)

216886[/snapback]

If your wife has or can get an ATM card for her account at Bank of China, you can simply withdraw the cash at an ATM in the US.

 

If not, then open an account at a bank that will issue such a card and have the rent deposited there.

 

Wire transfers are expensive.

216889[/snapback]

She has the Great Wall card at Bank of China. It is an international debit/credit card/ATM card. But, the catch is it cannot be tied to your bank account. You must specifically put money/credit on the card to access any funds. I'm not sure if a tenant can deposit money directly onto the card versus depositing into her account...hmmm

216892[/snapback]

Can you use internet banking to transfer money to the card from the bank account?