Sending Money to a Bank in China

[RICHARDLOVESPING]

Has anyone used XOOM.COM to send money to a bank in China. What other means are available if you do not have someone in China to verify that it is in your bank account? B)

[dnoblett]

I have used Western Union several times without any problems, person in China gets the money at any bank that offers Western Union.

[Randy W]

Has anyone used XOOM.COM to send money to a bank in China. What other means are available if you do not have someone in China to verify that it is in your bank account? B)

 

If you're not actually sending it TO someone, there's always carrier pigeon, parachute, etc.

 

Seriously, there's always a bank to bank transfer (check with your bank for fees, but B of A offers free transfers to China Construction Bank). Try sending a small amount ($100 max), and then make sure it gets there before you send larger amounts.

 

Western Union is $14 to $26 for up to $10000, but someone needs to go to the China Post or Agricultural Bank of China to receive it.

[Richard & Li]

Up until now, I've also used Western Union.

 

A friend of mine discovered that Bank of America and (I think) The Agricultural Bank of China have partnered and accounts can be accessed directly in either America or China without paying transfer fees.

 

Haven't tried this yet myself. But, it seems to be a very good solution.

[chilton747]

Yes I have used Xoom and still use it. All is good so far for the last year.

[Randy W]

Up until now, I've also used Western Union.

 

A friend of mine discovered that Bank of America and (I think) The Agricultural Bank of China have partnered and accounts can be accessed directly in either America or China without paying transfer fees.

 

Haven't tried this yet myself. But, it seems to be a very good solution.

 

Nope - I got it right

[Randy W]

. . .

Edited September 8, 2009 by Randy W (see edit history)

[GZBILL]

Has anyone used XOOM.COM to send money to a bank in China. What other means are available if you do not have someone in China to verify that it is in your bank account? B)

 

Western Union can be expensive and inconvenient, but you also need to have a person in China to physically retrieve the money since it cannot be deposited directly into your bank account.

 

If you know the recipient's account number and account name, bank wires are a good way to go. You can use your Chinese bank's online banking function to see when the money arrives. For larger amounts they are much cheaper than using Xoom or Western Union.

 

Probably by far the cheapest way to get money into China is to send the individual a check. The fees for depositing / clearing an overseas check are very low, but unfortunately they take 6 weeks to clear.

[warpedbored]

Open a new account and send her a bank card she can use at an ATM.