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Sending $$ to China


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I just wanted to add a note about a maybe not so new feature of Paypal that I just recently discovered.

 

Paypal can generate random single use credit card numbers.

This is extremely useful for online purchases on websites that you don't trust, or to avoid recurring charges on those things that takes 2 seconds to sign up and impossible to cancel.

 

You have to install the paypal plugin, it's under "Products and Services" when you sign in.

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I just wanted to add a note about a maybe not so new feature of Paypal that I just recently discovered.

 

Paypal can generate random single use credit card numbers.

This is extremely useful for online purchases on websites that you don't trust, or to avoid recurring charges on those things that takes 2 seconds to sign up and impossible to cancel.

 

You have to install the paypal plugin, it's under "Products and Services" when you sign in.

Gotta love Pay-Pal, good tip there.
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First one to use this, please come back and report. I've been using xoom.com, which costs me $10 per transfer and she picks it up in RMB at the post office around the corner from her apartment.

 

I wouldn't mind keeping the $10, though... :blink:

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Is there a conversion fee from US to RMB? I've been using the global Remittance from Wells Fargo to Agricultural Bank of China when sending money. This has been the best and cheapest option, but is only limited to one bank account and one bank.

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Is there a conversion fee from US to RMB? I've been using the global Remittance from Wells Fargo to Agricultural Bank of China when sending money. This has been the best and cheapest option, but is only limited to one bank account and one bank.

 

I am checking on this with my paypal account rep. But he hasnt got all the answers for me yet. Should be soon. I will post once I hear.

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You're the man Randy. I surrender :surrender: No charges with withdraw the funds to local checking account. But you do have to manually go into paypal account and transfer/withdraw funds to local checking account.

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Is there a conversion fee from US to RMB? I've been using the global Remittance from Wells Fargo to Agricultural Bank of China when sending money. This has been the best and cheapest option, but is only limited to one bank account and one bank.

 

I am checking on this with my paypal account rep. But he hasnt got all the answers for me yet. Should be soon. I will post once I hear.

hello, did you hear anything back from paypal on a percentage fee when converting US to RMB, if any? It would be interesting to know where they get the daily rate. Thank you for your help.

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  • 3 weeks later...

 

 

No dont believe thats the case. The recipient has to manually transfer funds from paypal to their account. And thats when they will be hit with fee. iirc, I sent my SO some money via paypal a couple years back and she had a nominal fee upon transferring it to her account. Heck, paypal even charges some in US to withdraw funds.

 

 

Well, that's the question there. This is advertised as a new feature. Hopefully, that means they can tie in to the Chinese banks more easily now. Otherwise, it's pretty much as was all along.

 

 

I've used Paypal a couple of times. She had to create a pp account. Paypal sends the money to her pp account and her bank charges $35 to transfer the money.

 

If you use this method, make sure you click on the personal tab or you'll get stuck with a fee like I did. They would not reimburse me for my mistake either. So now I use Xoom. They charge me $4.95 and it goes straight into her bank account. She pays nothing.

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Is there a conversion fee from US to RMB? I've been using the global Remittance from Wells Fargo to Agricultural Bank of China when sending money. This has been the best and cheapest option, but is only limited to one bank account and one bank.

 

I am checking on this with my paypal account rep. But he hasnt got all the answers for me yet. Should be soon. I will post once I hear.

hello, did you hear anything back from paypal on a percentage fee when converting US to RMB, if any? It would be interesting to know where they get the daily rate. Thank you for your help.

 

 

this is where they will probably make their 'money' ** Money changers

 

maybe someone can try it, small amount and see how much really made it at the other end. :worthy:

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