Sending $$ to China

[dnoblett]

Got this in my email today, I have been a long time user of paypal.

I checked the fee to send to China, FREE if from a checking or pay-pal account.

https://www.paypal.com/cgi-bin/webscr?cmd=x...ransfer-outside

Check it out.

Looks better than Western Union.

[Randy W]

I think what's new here is that they can tie in to Chinese bank accounts, but not Chinese credit cards.

 

Requires a PayPal account at the receiving end, but they're easy to create.

[b.c]

I believe they will charge the recipient a fee to withdraw the money.

[Randy W]

I believe they will charge the recipient a fee to withdraw the money.

 

 

They claim to be able to send directly to a bank account.

[b.c]

I believe they will charge the recipient a fee to withdraw the money.

 

 

They claim to be able to send directly to a bank account.

 

Thats not what I am reading:

 

Recipients will receive an email notification prompting them to log into PayPal to get the money - signing up for an account is FREE.

 

Choose a country at the top right to see ways recipients can withdraw the money you send.

 

Recipients can withdraw money you send using one of the following options:

 

- local bank account

- check

- us bank account

[Randy W]

I believe they will charge the recipient a fee to withdraw the money.

 

 

They claim to be able to send directly to a bank account.

 

Thats not what I am reading:

 

Recipients will receive an email notification prompting them to log into PayPal to get the money - signing up for an account is FREE.

 

Choose a country at the top right to see ways recipients can withdraw the money you send.

 

Recipients can withdraw money you send using one of the following options:

 

- local bank account

- check

- us bank account

 

 

It sounds to me like they're, in effect, simply wiring the money to the destination account. Once it's in the account, only the bank would charge any fees, including converting to RMB.

 

That's how I read it (that you'd withdraw from the local bank account), but you'd have to try it to know for sure.

 

I'm guessing that they're more than a little optimistic about what they're promising.

[b.c]

I believe they will charge the recipient a fee to withdraw the money.

 

 

They claim to be able to send directly to a bank account.

 

Thats not what I am reading:

 

Recipients will receive an email notification prompting them to log into PayPal to get the money - signing up for an account is FREE.

 

Choose a country at the top right to see ways recipients can withdraw the money you send.

 

Recipients can withdraw money you send using one of the following options:

 

- local bank account

- check

- us bank account

 

 

It sounds to me like they're, in effect, simply wiring the money to the destination account. Once it's in the account, only the bank would charge any fees, including converting to RMB.

 

That's how I read it (that you'd withdraw from the local bank account), but you'd have to try it to know for sure.

 

I'm guessing that they're more than a little optimistic about what they're promising.

 

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.

[Randy W]

 

 

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.

[Guest jin979]

when you know for sure let us know

[crazybanana]

I would stay away from Paypal. you give paypal complete access to your account when you use them and they're not regulated in anyway except by paypal themselves. I would not give up my account info to save a few bucks.

Edited October 21, 2009 by crazybanana (see edit history)

[b.c]

I would stay away from Paypal. you give paypal complete access to your account when you use them and they're not regulated in anyway except by paypal themselves.

 

[maxsalvo]

I would stay away from Paypal. you give paypal complete access to your account when you use them and they're not regulated in anyway except by paypal themselves.

 

I have used PayPal for years and never had a single problem. In fact, they have come to my aid after I used them and the item I bought was not the same thing as advertised. I got back every single penny with less work then dealing with a credit card company.

 

Of course this was not for international dealings either. One other downfall is if you are on the receiving end of a payment you must pay several percent as a user fee.

[b.c]

I would stay away from Paypal. you give paypal complete access to your account when you use them and they're not regulated in anyway except by paypal themselves.

 

I have used PayPal for years and never had a single problem. In fact, they have come to my aid after I used them and the item I bought was not the same thing as advertised. I got back every single penny with less work then dealing with a credit card company.

 

Of course this was not for international dealings either. One other downfall is if you are on the receiving end of a payment you must pay several percent as a user fee.

 

I am on the other end, the selling end. Have over 100,000 transactions with them since 2003. No major problems at all. user fee is less than most credit cards terms and customer service is good too. In the beginning their policies were extremely generous to the consumer at the seller's expense. And some of their policies were a little asinine back in the day. But those are just typical growing pains of a new fast growing company.

[Kyle]

I would stay away from Paypal. you give paypal complete access to your account when you use them and they're not regulated in anyway except by paypal themselves. I would not give up my account info to save a few bucks.

 

Actually, Paypal has been quite strict concerning my account - security-wise. My account was flagged because I've been using it while I'm in China - they noticed the Chinese ip address.

 

Finally, I called them, told them my current situation, and they added a memo to my account. No problems since. Sure, it was a hassle, but they did what they should of done - they were monitoring for fraud and took the appropriate actions when they saw suspicious activity.

[dnoblett]

I would stay away from Paypal. you give paypal complete access to your account when you use them and they're not regulated in anyway except by paypal themselves.

 

Very true, I have been using Pay-Pal for years for paying and receiving payments for ebay auctions. The whole reason pay-pal exists is there was a needed method to pay and receive payments for online auctions. Pay-Pal has the trust of millions of people and online retailers.