jin01 Posted December 1, 2009 Report Share Posted December 1, 2009 I am using WAMU right now. They let me wire money to China for free. But this service will end soon according to a banker there. I have heard that BoA let's you wire money to China Construction Bank for free. Is that still true? Are there any other free services? Thanks. Link to comment Share on other sites More sharing options...
lou Posted December 2, 2009 Report Share Posted December 2, 2009 I am using WAMU right now. They let me wire money to China for free. But this service will end soon according to a banker there. I have heard that BoA let's you wire money to China Construction Bank for free. Is that still true? Are there any other free services? Thanks. We've been using "xoom" for the last few months to wire money into my wife's bank for our mortgage payments. The fees arecheap, you can wire up to $2,999.99 a month (6,000.00 if you provide more info) for $4.99 for a direct bank transfer or $9.99 for a cash pickup. First time was a pain in the butt because they need to verify heraddress and phone number in China wiith a phone call. Since she lives here, it took a couple of calls to customer support to get itsorted out. I find it most convenient, it's all done from my computer and the fundsare usually in her bank the next day. Link to comment Share on other sites More sharing options...
Danny999 Posted December 3, 2009 Report Share Posted December 3, 2009 Lou is right. For $4.99 you can send money with xoom straight to her bank account. With paypal she get charged $35 usd for transferring the money from her paypal account to her bank account. With xoom it goes straight into her account. She pays nothing. Like he said the first time is a pain but after that it take about 4 days to transfer $$$. Western Union gigs you and are a major pain. I had to get on the phone with them every time. Good Luck Danny Link to comment Share on other sites More sharing options...
Danny999 Posted December 3, 2009 Report Share Posted December 3, 2009 One more thing. Watch using credit cards for sending money. The interest is higher because it is considered a cash advance and they charge a fee to compound matters. Set it up to transfer from your bank account to hers. Link to comment Share on other sites More sharing options...
HelloWorld08 Posted December 4, 2009 Report Share Posted December 4, 2009 get a checking account with bank of america, send that checking card to your fiance(e) and tell them to use China Construction Bank, no fees for withdrawing money... Link to comment Share on other sites More sharing options...
Randy W Posted December 7, 2009 Report Share Posted December 7, 2009 get a checking account with bank of america, send that checking card to your fiance(e) and tell them to use China Construction Bank, no fees for withdrawing money... Just got back from doing exactly that - it was already listed on the BOA website. We got an excahnge rate of 6.81, and no fees. Cool - we should be able to wire larger amounts for free once we open an account there. Link to comment Share on other sites More sharing options...
jin01 Posted December 7, 2009 Author Report Share Posted December 7, 2009 Just got back from doing exactly that - it was already listed on the BOA website. We got an excahnge rate of 6.81, and no fees. Cool - we should be able to wire larger amounts for free once we open an account there.That's very convenient, isn't it? You don't have to wire anything, just deposit the money here in USA and they can get the money in China by themselves. Do they just need a PIN and that's all? Also, do you know if that exchange rate is the same as exchanging USD in Bank of China? Thanks. Link to comment Share on other sites More sharing options...
HelloWorld08 Posted December 8, 2009 Report Share Posted December 8, 2009 get a checking account with bank of america, send that checking card to your fiance(e) and tell them to use China Construction Bank, no fees for withdrawing money... Just got back from doing exactly that - it was already listed on the BOA website. We got an excahnge rate of 6.81, and no fees. Cool - we should be able to wire larger amounts for free once we open an account there. Link to comment Share on other sites More sharing options...
Guest Pommey Posted December 8, 2009 Report Share Posted December 8, 2009 Walmart card- no charge Link to comment Share on other sites More sharing options...
Kyle Posted December 8, 2009 Report Share Posted December 8, 2009 (edited) I've found this thread to contain some interesting information. I've noticed that my U.S. debit card (Conservation Employees' CU) also doesn't incur (checked online) a fee when used in China. We have a 24 hr. self-service ATM downstairs from our apartment that we use frequently. http://www.cmbc.com.cn/ I'm currently in the market for another checking account because I'd like to find one that plays nice with Yodlee.com (this is more necessary when traveling or living abroad as my checking account's online access is sporadic at best). I was checking out the Bank of America website and it does look like the charge a monthly service fee (around 9 bucks if I recall correctly) if the account balance falls under 1500 USD - which I do not like. For those of you who went this route, is my understanding correct? http://www.usatoday.com/travel/deals/insid...edit-card_N.htm Edited December 8, 2009 by Kyle (see edit history) Link to comment Share on other sites More sharing options...
xiaofeizhu Posted December 8, 2009 Report Share Posted December 8, 2009 (edited) I've found this thread to contain some interesting information. I've noticed that my U.S. debit card (Conservation Employees' CU) also doesn't incur (checked online) a fee when used in China. We have a 24 hr. self-service ATM downstairs from our apartment that we use frequently. http://www.cmbc.com.cn/ I'm currently in the market for another checking account because I'd like to find one that plays nice with Yodlee.com (this is more necessary when traveling or living abroad as my checking account's online access is sporadic at best). I was checking out the Bank of America website and it does look like the charge a monthly service fee (around 9 bucks if I recall correctly) if the account balance falls under 1500 USD - which I do not like. For those of you who went this route, is my understanding correct? http://www.usatoday.com/travel/deals/insid...edit-card_N.htm This was also true for my credit union issued debit card. HFS FCU (which only has branches on the Big Island of Hawaii) issued my debit card and I used it while living in Japan for 2 years and China for 1. I used it at every type of ATM available (post office, random banks, etc in Japan and at nearly every bank in China) and never incurred fees. The rate of exchange fluxuated, naturally, but I never had any problems with it. I think many credit unions offer this. I always had money deposited into my HFS account (by both my parents hehe and also I was receiving a nice scholarship) and got the money that way rather than being wired the funds. Convenient and I was also able to use my debit card at stores since it's issued by MasterCard. No international usage fees, where my Visa charges 1% and my new MasterCard charges 2.5% for regular credit cards. My CU also had free online banking so I could see the amount in USD withdrawn (I would figure out the exchange rate this way and I got pretty good rates). Edited December 8, 2009 by xiaofeizhu (see edit history) Link to comment Share on other sites More sharing options...
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