Money thing..

[Eric&Yuhui]

self-explanatory link.. Shows all kind of ways greenbacks can change hands.. Legally Very informative.

 

http://www.international-money-transfer-co....info/index.htm

 

 

Send money via Bank of China NY for $ 10 or 20 fee ( regardless of amount ) . You don't have to be a BOC customer. If the recipient lives in China, you're in. Costs 10 bucks by mail transfer / 20 by wire . Maximum is $2999 / day .... That should be enough, right ? :-)

 

http://www.bocusa.com/bocny/html/account_form.html

 

 

 

[Bryan_Qunying]

Se_Lang

 

You got that right. I have become good friends with the branch manager which is now located on 18th St. (Lots of changes sense you lived up here.)

 

Every time I come in to do my banking, all 4 of them ask me how my wife is doing and when will they get to meet her.

 

The manager took her own personal time to help me set every thing up so my wife would have the least amount of problems banking from China. They have even talked to me about maybe seting up an account that should be able to make payments to the bank in China for our house when my wife finaly comes to the states.

 

Bryan

[se_lang]

Se_Lang

 

You got that right. I have become good friends with the branch manager which is now located on 18th St. (Lots of changes sense you lived up here.)

 

Every time I come in to do my banking, all 4 of them ask me how my wife is doing and when will they get to meet her.

 

The manager took her own personal time to help me set every thing up so my wife would have the least amount of problems banking from China. They have even talked to me about maybe seting up an account that should be able to make payments to the bank in China for our house when my wife finaly comes to the states.

 

Bryan

yes after my X took off an tried to clean me out the branch manager in LG helped me protect my pay check.

[MarkLuvsShuPing]

I'm going to keep this info for future reference. I don't kno how well iKobo will work. That First Federal thing sounds good though.

[se_lang]

I'm going to keep this info for future reference.  I don't kno how well iKobo will work.  That First Federal thing sounds good though.

it is a bank www.firstfed.com

[se_lang]

here is prepaid card I use it cost $10 to load Visa Cash passport card here is a link to learn moreCash passport card website

[MarkLuvsShuPing]

Thanks, it's about the same as iKobo.

[warpedbored]

I found iKobo and sent $100 to ShuPing.  She got her card in the mail, went to the bank but either didn't know how to use the ATM or it didn't work for her.  She lives in Nanning and there were plenty of ATMs listed on their web page for Nanning.  I'm not sure what went wrong, but the money is still sitting there and she can't get it.  I plan to show her how to use it when I get to Beijing, but if the ATMs don't work in Nanning, it won't matter much.

Bing and I are having trouble with Ikobo right now too. I haven't been able to get a hold of them to find out why. I ended up sending her some money on western union. Expensive but reliable. i tried for an hour this morning to get in touch with Ikobo but no luck. Tomorrow I will resume the fight. I have a hunch its the ATM machines in Nanning. We haven't had trouble with Ikobo before but it still pisses me off I haven't been able to get a hold of them. I'll update you guys tomorrow.

[hypoclear]

Wow! great group of people here!! I had thought of the extra ATM idea after I posted as well, but the others and link are new to me.

 

Well back from HK and my meeting with the BEA bank. So the deal is.. only checking no savings no atm card no debit card and a $25.00 wire transfer fee.. can you say... you fill in the word.. I did fill out all teh paper work and it'w ill take 2 weeks to process. As for my wife Bea she can open an account with them in Hong Kong from here in Shenzhen China and she will get a credit card as well. We will do this as it will give her a credit history and we will exchange or apply for a card in NYC we we get to the states.

 

For me I will pass on their offer or push them for something more real by telling them no thinks HSBC is giving me.. etc. When I called their main office in the states they told me atm cards etc no problem and I can have the Shenzhen branch download the forms from their intranet and to call their number if the rep has any problems so they can walk her through it. She also told me... yes you can take funds out of your NYC account for free from the hasbc atm there and it will give you RMB.. sweet!

 

You do need to maintain a $2'000.00 balance or a $10.00 monthly fee. Again Bea can open an account with them in their HK branch from here in China.

 

Another point in the little english paper we have here "Shenzhen Daily" http://www.szdaily.com.cn/ just ran an article about more open banking regs and the other day a full page on AIDS in China. You might want to check this paper out.. and ponder the full page ad regarding this "International Paper for an International City!" Somebody's been getting into the hooch!!

 

So again on the issue of funds transfer it just shows that when it comes to getting something done the americans will figure a way to do it.

 

Hmmm I guess just a little too much of that free HK air today...

 

Mark

[mikem]

Wow! great group of people here!! I had thought of the extra ATM idea after I posted as well, but the others and link are new to me.

 

Well back from HK and my meeting with the BEA bank. So the deal is.. only checking no savings no atm card no debit card and a $25.00 wire transfer fee.. can you say... you fill in the word.. I did fill out all teh paper work and it'w ill take 2 weeks to process. As for my wife Bea she can open an account with them in Hong Kong from here in Shenzhen China and she will get a credit card as well. We will do this as it will give her a credit history and we will exchange or apply for a card in NYC we we get to the states.

 

For me I will pass on their offer or push them for something more real by telling them no thinks HSBC is giving me.. etc. When I called their main office in the states they told me atm cards etc no problem and I can have the Shenzhen branch download the forms from their intranet and to call their number if the rep has any problems so they can walk her through it. She also told me... yes you can take funds out of your NYC account for free from the hasbc atm there and it will give you RMB.. sweet!

 

You do need to maintain a $2'000.00 balance or a $10.00 monthly fee. Again Bea can open an account with them in their HK branch from here in China.

 

Another point in the little english paper we have here "Shenzhen Daily" http://www.szdaily.com.cn/ just ran an article about more open banking regs and the other day a full page on AIDS in China. You might want to check this paper out.. and ponder the full page ad regarding this "International Paper for an International City!" Somebody's been getting into the hooch!!

 

So again  on the issue of funds transfer it just shows that when it comes to getting something done the americans will figure a way to do it.

 

Hmmm I guess just a little too much of that free HK air today...

 

Mark

I have spent a great deal of time in Shenzhen primarily at the Pavilion do you know it?? It was on business the company I use to work for had an office there. The company I now work for is building an assembly plant in Beijing..I will scope the paper with great interrest.

M

[hypoclear]

Hi Mikem;

yes I know of it, have some great photos of it. Down the street i call the metal arches is the computer mart, 8 floors of all kinds of computer parts and of course the DVD's etc.

 

If you take the number 12 which turns left at the corner it willtake you out to justco's which is a japanese store. this is the citic city center which won second place for a Hong Kong firm that built it. It is one of the better thought out buildings in Shenzhen as it references the idea of town common/ public space and city center. the financial center just down the road from there is also a very good building which I think will become the icon of Shenzhen or at least a close second to the dia wang building.

 

http://www.marksullivanphotography.com/chi...aarchitectural/ and http://www.marksullivanphotography.com/series/ for citic city center.

 

Hmmm most people are all afire about the pearl river delta area and building there, but Hk is pulling operations back to HK as the small savings in labor doesn't cover the quality issues in china.

 

It does seem like a very good newspaper in one sense, they tend to give a large amount of economic news for such a small paper and they now have an aussie I believe editer so we will see what this brings.

 

Mark

[tonyontherock]

How about getting money out of China? From Renminbi to U.S. $. in sums large enough to generate a volumn. I read in the papers about at least $2.8 billion a year gets out, but don't know how they effect the transfer.

[hypoclear]

How about getting money out of China? From Renminbi to U.S. $.  in sums large enough to generate a volumn.  I read in the papers about at least $2.8 billion a year gets out, but don't know how they effect the transfer.

Good question.. but I don't know if RMB ever gets out?

My wife says she can convert RMB to USD when she leaves and I could also convert RMB to USD as long as I have the USD to RMB reciepts and it is less than months.

 

Right now HK banks are starting to be able to take in RMB so one could unload it that way to HKD and on to USD.

 

You can have a mainland account which holds USD and HKD as well as RMB as a chinese citizen, but I think you can only withdraw those currencies.

 

Someone explained ForEx accounts to me but I didn't understand it completely and I don't think this answers your question.

 

I would think one could take RMB to hk and exchange it to HKD and than at a bank exchange that to USD. From what I have seen the banks don't offer good rates, off the street and at a exchange stand you should be able to get 107.50 RMB to 100 HKD with no fees. the next round would have to be at a bank and you would need to shop around. If you didn't need the money let it sit and take advantage of the USD's decline and make up the exchange rate.

[tonyontherock]

Right now HK banks are starting to be able to take in RMB so one could unload it that way to HKD and on to USD.

I would think one could take RMB to hk and exchange it to HKD and than at a bank exchange that to USD.

Thanks. That is interesting indeed. I wonder how difficult it may be to get Renminbi to Hong Kong. A couple of months ago some one asked me if there is a way to get 80 million Yuan out and convert it to US. I just wonder if that can be carried in a suitcase to Hong Kong and then convert it to US and onward to the Caymans or Cooks Island.

[warpedbored]

I finally got a hold of Ikobo and they say the reason Bing can't get money out is she already withdrew it all. They gave me a transcript of the transactions and if correct it appears that Bing was mistaken in the remaining balance. I am somewhat suspicious since I know Bing is good with numbers but I have to wait unitl I talk to her tonight. What sucks about Ikobo though is they charge you 3 dollars everytime you withdraw money on top of the 4% sending fee. The ATM in Nanning that Bing was using will only let her take out 1000 Yuan at a time. Also they charged us 75 cents every time Bing tried to take out money she thought was there and wasn't. I called the Westen Union near my home and found out that I can take cash to their office and send 600 dollars for 12 dollars. I have thought about opening another account and sending her an ATM card but there is still the 1000 Yuan limit with ATM fees and I no longer trust the ATM machines in Nanning. I know Western Union is reliable.