Wire Money to China

[owenkrout]

Now if I could just send money out of China that cheaply and easily.

[Stats]

Or you can just send her a credit card with a specific limit which she can use anywhere in China, depending on your situation.  ATM is the best though!!!

Except in Nanning where the ATMs also cheat you!!!!!

When I was in Shenzhen, I used my Wells Fargo ATM card at a Bank of China ATM with no problem. There was the usual $1.50 fee, but I don't recall any "cheating".

[owenkrout]

About 8.1 or 8.2 is the real conversion rate for us everyday folks. The official rate is what the banks get on large scale international transactions.

[Stats]

Or you can just send her a credit card with a specific limit which she can use anywhere in China, depending on your situation.  ATM is the best though!!!

Except in Nanning where the ATMs also cheat you!!!!!

When I was in Shenzhen, I used my Wells Fargo ATM card at a Bank of China ATM with no problem. There was the usual $1.50 fee, but I don't recall any "cheating".

I may be in the minority, but a tick or two off the fixed rate was totally meaningless since I was giving her money to fly to her home province for documents. Just a personal observation.

[Stats]

Didn't mean to imply that 8.1 was a problem. I just figure 100 RMB = $12.50 and go with that.

Not sure what you mean. Last time I checked 100 RMB was $12.0817 USD. I did not see a major problem with the Wells Fargo conversion on my statement. I have traveled internationally guite a bit and have seen some real "gouging" on Amex and Matercard.

 

Maybe I am missing something here. I am a CPA and I usyally notice these things. Maybe I missed something.

 

Thanks for the input.

[Guest R2D2]

Or you can just send her a credit card with a specific limit which she can use anywhere in China, depending on your situation. 0„2ATM is the best though!!!

Except in Nanning where the ATMs also cheat you!!!!!

When I was in Shenzhen, I used my Wells Fargo ATM card at a Bank of China ATM with no problem. There was the usual $1.50 fee, but I don't recall any "cheating".

I did not know that Shenzhen and Nanning were the same city!!! Thanks for filling me in.

[tonado]

I did the Western Union wire transfer yesterday morning. It took 2-3 minutes and it was done. The form is very simple. I gave my name, home address, ss#, and my gal's name in Chinese and in English. She picked up the money the next day without any problem. She just gave them the transfer number (the clerk gave me that number) and her ID. It costed me only $22 and she got the money in rmb (1 USD = 8.19 rmb). I should have done this before.

[Guest R2D2]

I did the Western Union wire transfer yesterday morning.  It took 2-3 minutes and it was done.  The form is very simple.  I gave my name, home address, ss#, and my gal's name in Chinese and in English.  She picked up the money the next day without any problem.  She just gave them the transfer number (the clerk gave me that number) and her ID.  It costed me only $22 and she got the money in rmb (1 USD = 8.19 rmb).  I should have done this before.

Dennis, on ACC, and I have recommended this many times - especially in Nanning.

[Stats]

Divide 100 by 8 and you get 12.50. It's a lot easier to figure in my head and make comparison values, even if it misstates the true exchange rate. The difference is nickles and dimes unless you are making a major purchase. I can deal with 12.50, 25.00 and multiples thereof.

Makes sense, thanks for the tip. Now I understand