Trigg Posted February 13, 2008 Report Share Posted February 13, 2008 WesternUnion is a very poor choice. You cannot take the money out here in US$ and the conversion rate is worse than what you'd get at a BoA / CCB ATM. Also, WU fees are probably just as steep as a credit unions wire transfer fees. Really ? When I send funds to lao po via WU, she withdraws in USD. I've no idea WHICH WU office she uses in Wuhan, but always, she withdrew in USD and converted it afterwards. I think the two of us (you and me) and having different experiences with WU.Argggggggggggggg!! When you go to the WU office to send the $$ you have to specify USD!!! It will state that on the reciept. I've done it several times-no problemo Link to comment
PapaBear Posted February 13, 2008 Report Share Posted February 13, 2008 I will need to give Leiqin $5000 cash to carry with her to China. $3000 for her purchase her Chinese pension. $2000 for 2 month's expenses. I went to our B of A to see if they had some arrangements where I could deposit the money and Leiqin could withdrawal it through an ATM in China, but the BofA girl (Chinese) said that there would be special fees that would be charged to do it. I think it's too late to get a special ATM anyway when she'll be leaving ~March 1st. Instead of carrying that amount of cash on her person, what are the alternatives. I'm sure that the answer(s) is obvious... I'm not sure why, but the BoA girl misled you. Since BoA bought a stake in China Construction Bank, all BoA cards can be used in any China Construction Bank ATM to withdraw cash without fees. The only drawback is that you can only get RMB, but the exchange rate is better than if you went into the bank to see the US dollars. I am not sure what the daily limit is because that depends on BoA and not China Construction Bank. CCB's daily limit is 30k RMB. If you use a different bank's ATM card or use your BoA card in a non-CCB ATM, there are about 4% in fees. Dennis......GZBILL is right with his post here. Withdrawls can be made at a China Construction Bank with your BoA ATM and there are no transaction fees, nor any foreign currency conversion fees!! Peipei and I realized great savings and convenience on our last trip to Beijing accessing our cash this way. Fact is....she's taking off for 2 months in Beijing again (2/27 - 4/23) and we'll be accessing funds the same method for this time also. Sure beats carring cash!! PapaBear Link to comment
Smitty Posted February 13, 2008 Report Share Posted February 13, 2008 Amex travelers checks? Link to comment
rogerluli Posted February 13, 2008 Report Share Posted February 13, 2008 I will need to give Leiqin $5000 cash to carry with her to China. $3000 for her purchase her Chinese pension. $2000 for 2 month's expenses. I went to our B of A to see if they had some arrangements where I could deposit the money and Leiqin could withdrawal it through an ATM in China, but the BofA girl (Chinese) said that there would be special fees that would be charged to do it. I think it's too late to get a special ATM anyway when she'll be leaving ~March 1st. Instead of carrying that amount of cash on her person, what are the alternatives. I'm sure that the answer(s) is obvious... I'm not sure why, but the BoA girl misled you. Since BoA bought a stake in China Construction Bank, all BoA cards can be used in any China Construction Bank ATM to withdraw cash without fees. The only drawback is that you can only get RMB, but the exchange rate is better than if you went into the bank to see the US dollars. I am not sure what the daily limit is because that depends on BoA and not China Construction Bank. CCB's daily limit is 30k RMB. If you use a different bank's ATM card or use your BoA card in a non-CCB ATM, there are about 4% in fees. Dennis......GZBILL is right with his post here. Withdrawls can be made at a China Construction Bank with your BoA ATM and there are no transaction fees, nor any foreign currency conversion fees!! Peipei and I realized great savings and convenience on our last trip to Beijing accessing our cash this way. Fact is....she's taking off for 2 months in Beijing again (2/27 - 4/23) and we'll be accessing funds the same method for this time also. Sure beats carring cash!! PapaBear B) This BoA/China Construction Bank combo sounds way better than HSBC for everything...There are not that many HSBC branches outside of the largest cities on the mainland but CCB branches are everywhere... Link to comment
DMikeS4321 Posted February 13, 2008 Report Share Posted February 13, 2008 I will need to give Leiqin $5000 cash to carry with her to China. $3000 for her purchase her Chinese pension. $2000 for 2 month's expenses. I went to our B of A to see if they had some arrangements where I could deposit the money and Leiqin could withdrawal it through an ATM in China, but the BofA girl (Chinese) said that there would be special fees that would be charged to do it. I think it's too late to get a special ATM anyway when she'll be leaving ~March 1st. Instead of carrying that amount of cash on her person, what are the alternatives. I'm sure that the answer(s) is obvious... I'd send it to your wife c/o a Western Union. She could pick it up when she arrives. If she no longer has China ID, send it to a trusted family member. It's cheap and reliable. I would have a couple of male family members escort her to China Post to pick it up. Might be a good idea to send it in a couple of different wires; wouldn't draw quite as much attention. Best Regards Link to comment
DMikeS4321 Posted February 13, 2008 Report Share Posted February 13, 2008 (edited) WesternUnion is a very poor choice. You cannot take the money out here in US$ and the conversion rate is worse than what you'd get at a BoA / CCB ATM. I beg to differ. Western Union is the easiest and most reliable way to wire money in a hurry. Maximum wire within any 30 day period is $2999, and this costs $26, a little less than 1%. If the maximum payout via ATM is $300 (what I've experienced), you are looking at 10 days, just to get the $3000. Current Western Union conversion as I write is 7.14 to 1.0. It is 7.195 to 1.0 on my 'always on' currency monitor. This amounts to another $22.93, but... if you specify payout in American dollars, there is NO exchange rate; the currency is paid out exactly as sent. My wife has received and sent American $$ via Western Union, no problem. Just make sure you specify payout in $$. You may be able to trim pennies from this cost, but I can't imagine an easier way to handle this issue. Edited February 13, 2008 by DMikeS4321 (see edit history) Link to comment
tsap seui Posted February 13, 2008 Report Share Posted February 13, 2008 (edited) WesternUnion is a very poor choice. You cannot take the money out here in US$ and the conversion rate is worse than what you'd get at a BoA / CCB ATM. Also, WU fees are probably just as steep as a credit unions wire transfer fees. Really ? When I send funds to lao po via WU, she withdraws in USD. I've no idea WHICH WU office she uses in Wuhan, but always, she withdrew in USD and converted it afterwards. I think the two of us (you and me) and having different experiences with WU. Darnell, my experience is very positive, and quick, with WU, same as yours. I have no clue what GZBill could be talkin' about. My girlfriend could get the money in USD instead of RMB. She takes it in RMB since...ah...it's China...she is Chinese, and she ain't lookin' to hoard a bunch of american pesos...er...ah...greenbacks that are gonna be worth less the next day. If my girlfriend had been awake she could have gone to pick the money up an hour or two after I handed a Weis grocery clerk the money in Pennsyltucky. How simple could it possibly be? And those "high fees" GZBill talks about... Well lets see, on 5 Feb 08 I gave a grocery store clerk $1,500USD, it cost me an additional $14USD, and my lil' rabbit picked up 10,713 yuan...and I didn't feel like I needed to wipe myself off, pull my pants back up, and smoke a ceegar after the transfer. Oh yeah, the lil' rabbit did have to count the Chairman Mao's and walk two windows down, from the W/U window, to deposit the loot in her bank account. I...ah...guess...that could be considered a hassle...maybe. Have I missed somethin' here? tsap seui Edited February 13, 2008 by tsap seui (see edit history) Link to comment
Don Posted February 14, 2008 Report Share Posted February 14, 2008 Western union is simple and fast just be sure you go to WU and DO NOT send it via their internet site--cost way to much! Also, I've never had any problem cashing in a few K worth of travelors checks. A woman carrying that much cash is BU HOA!!!!!! I once exchanged a lot of travellers checks and found that the rate for cash is much better. I would have her bring the cash and just pay her pension quickly after she gets there. Link to comment
Corbin Posted February 14, 2008 Report Share Posted February 14, 2008 WU is $14 per transfer. PayPal is only $1, but the card may not arrive in time.PayPal has an ATM card? Link to comment
lostinblue Posted February 14, 2008 Report Share Posted February 14, 2008 Just posted below is a question about getting money out of china. You are trying to enter with cash. To bad you cannot get together and do a money deal Link to comment
GZBILL Posted February 14, 2008 Report Share Posted February 14, 2008 WesternUnion is a very poor choice. You cannot take the money out here in US$ and the conversion rate is worse than what you'd get at a BoA / CCB ATM. Also, WU fees are probably just as steep as a credit unions wire transfer fees. Really ? When I send funds to lao po via WU, she withdraws in USD. I've no idea WHICH WU office she uses in Wuhan, but always, she withdrew in USD and converted it afterwards. I think the two of us (you and me) and having different experiences with WU. Not sure. The two times I had a friend send me some money they owed me by WU WU in GZ said payouts were only in RMB at the bank rate. So now I just have him deposit into my HSBC account and then use their online transfer to get it to my HSBC account here for free. Link to comment
Dennis143 Posted February 14, 2008 Author Report Share Posted February 14, 2008 WesternUnion is a very poor choice. You cannot take the money out here in US$ and the conversion rate is worse than what you'd get at a BoA / CCB ATM. Also, WU fees are probably just as steep as a credit unions wire transfer fees. Really ? When I send funds to lao po via WU, she withdraws in USD. I've no idea WHICH WU office she uses in Wuhan, but always, she withdrew in USD and converted it afterwards. I think the two of us (you and me) and having different experiences with WU. Not sure. The two times I had a friend send me some money they owed me by WU WU in GZ said payouts were only in RMB at the bank rate. So now I just have him deposit into my HSBC account and then use their online transfer to get it to my HSBC account here for free.When I wire money via the internet using WU they give you the option of having the money paid out in USD or RMB. Link to comment
Randy W Posted February 14, 2008 Report Share Posted February 14, 2008 WU is $14 per transfer. PayPal is only $1, but the card may not arrive in time.PayPal has an ATM card? http://www.paypal.com/cgi-bin/webscr?cmd=p...y_debit-outside It didn't work in Yulin, however, so we stuck with WU while she was there. It did work in Nanning and Beijing. Link to comment
Smitty Posted February 14, 2008 Report Share Posted February 14, 2008 So, is that a 'no' on travelers checks? Link to comment
pkfops Posted February 14, 2008 Report Share Posted February 14, 2008 Eagle Creek has of few good products if she wants to carry cash. The silk neck pouch can be worn around the waist under the clothes with comfort. Check out your local REI. It may also help if you decide when cash is needed and when the credit card will work. And you can just go with her and hold all of the dough. Link to comment
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