Money Money Money

[dmaddox74]

Hey Guys,

 

What's the best way to send money to my wife and the cheapest?

[warpedbored]

This is a topic that pops up regularly. The cheapest way is to give your wife/fiance an ATM card on your account. I haven't had much luck with ATM machines in China. The best option in my oppinion is Western Union but don't use the website. It's too expensive. Many grocery stores and such have WU offices where you can take cash down and send it. I have sent as much as 700 dollars for a 12 dollar fee. Your loved one can accept it in US dollars and get a better exchange rate locally.

[tonado]

Read this thread

[Jim - Portland, USA]

Ditto everything Carl just said.

[perryf]

I had sent some money before thru the Western Union website. It cost $50 to send $500.

 

I went to a Mailboxes Etc. that does Western Union last month and was able to send $1000 for $12.

 

PF

[C4Racer]

I agree with everything Carl said. Do not use Western Union web site. They charge you a premium to send money and then they only send it RMB with a very poor exchange rate. This way they make money coming and going.

 

The cheapest way is ATM. I ran across something very interesting when I was in China. My ATM card worked at a China Bank ATM near the hotel and her work. Later in the week, we stopped by another ATM at a China Bank and it was refused. Seems to work in some ATM's and not other, even if it is on the same network.

 

I left her an ATM card. She just stops by the ATM near her work which we know works.

[Robert S.]

Just a warning, it may be okay now, but I had some trouble when she went to an HSBC machine, on two occasions. They put two holds on my account. My bank only paid one, of course, but there was no way to remove the hold HSBC had placed, only they could do it, and there was no way to contact them. I called their number and they could not help. I got my wife to always go to a Bank of China ATM and have never had any trouble since then.

[se_lang]

Just a warning, it may be okay now, but I had some trouble when she went to an HSBC machine, on two occasions.  They put two holds on my account.  My bank only paid one, of course, but there was no way to remove the hold HSBC had placed, only they could do it, and there was no way to contact them.  I called their number and they could not help.  I got my wife to always go to a Bank of China ATM and have never had any trouble since then.

after 5 days that hold should go away, Yes that is 5 days your with out your money.

[cosmiclobster]

Hi

My sweetheart is in Shanghai so sending money was no problem. It may be different in the smaller cities.

I have

1. Sent her an ATM card. There are transaction fees ($7 to $9) for each transaction. All of the ATM's I used in China accepted my Bank of America ATM, but very few liked my Washington Mutual.

2. Send a check. If she deposits it for 30 days, there is only a $3 fee, reguardless of the amount - less than 30 days is about a$8 or $10 fee, up to a certain $$ amount.

3. Send cash. There are people in the bank lobbys who will change it for the going rate, but I'm not sure if this is a kosher way to go.

 

Because of the per dollar fees, I do not recommend

4. Wire transferes and money orders cost $$$ to cash!

5. I checked into opening an account at the Bank of China in downtown LA, but even they had big fees to deposit here and withdraw there.

Hope this helps!

[Guest jimb]

I opened a Fleet bank free checking account. And sent the card to my fiancee. It needs to be a card that is accepted at foreign ATMS If it has a CIRRUS logo on the back it can be used in Bank of China ATMs. If her name is not on the card. She can't use it inside the bank

 

The bank charged me a $5 fee for everytime it was used. So it is best not to use it for small withdrawals like 100 RMB The limit was $300 per day. Different banks may charge a smaller fee.

 

I have used the same card at the counter in the Bank of China and paid no fee and had the option of getting US dollars or RMB, and they charged me no fee. So if the bank will let you put her name on the account, it would be a better deal.

 

jimb

[Guest blsqueaky]

I know that my wife as and ATM debit Card that I gavev her from National City, here in good old Ohio, and she uses it there when need. Now her name is not on the card, but her signature is on the back. The only problem was when she saw the Visa logo on the front, she thought just like her credit cards, untill I was finally able to get her to undertand. She also used the ATM card in a grocery store to buy some items, and they did not question.

 

Now she lives in GZ, and when she uses the card, I do not think that I have paid over $2.00 for a fee.

[dmaddox74]

Does anyone know if you can get a Bank of China account in America? This way I'll give her an ATM card from the Bank of China? Does this sound dumb?

[LiuXia's Husband]

Easy to open a joint account with Bank of China. We originally were gonna do that, but in the end Western Union seemed easier. But might revisit BOC idea. Could help at interview.

[Guest Rosy]

Read this thread

Tony:

In your thread, my question is: can money order be used in China?

 

Rosy

[Guest Rosy]

Does anyone know if you can get a Bank of China account in America?  This way I'll give her an ATM card from the Bank of China?  Does this sound dumb?

Hey,

I don't think an ATM card of Bank of China in USA can be used in China. It dosen't sound dumb. It sounds creative.

 

Rosy