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Q: bank account anywhere in the world that pays me for having my money
my pittance of cash, usually costs me money because of fees .... where might this not happen....$5000 to grow instead of diminish
11 years 28 weeks ago in Money & Banking - China
to hell with the banks and there charges.....my pillow case will hold my money!!!
Keep it in a Chinese bank account? The interest I earn far outweighs the 3 rmb monthly fee I pay for SMS account notification services...(China Construction Bank).
Otherwise you can park your 5 grand in a savings account or a CD....but they probably won't outpace inflation.
Bank of China is paying right now from 5-7/8 % to 6.5 % annual interest on CD from 1 year to 5 years in foreign currency. This is the best deal that I do know of short of investting it with the local mafia at 33 % but no guarantee at all.
But must warn you, if you feel that the yuan is still undervalued as some economists claim to the tune of 40 %, holding money in China in foreign currency is not a wise move.
33% sounds good...... got a number for the mafia
philbravery:
How about the bank of Nigeria I am still President and part of Royal Family
(Insert smiley face with gold tooth)
Royal Bank Of Canada, high interest saving account 1.3% monthly.
I put 3000rmb in an account at ICBC in Beijing Jan this year, and when I closed the account 2 months later it was 3003rmb. its not exactly a money maker but it grew, didn't shrink, thats the point right.
No why?
Scandinavian:
Seriously Ted, you have got to accept that 99 makes 5 mao per post. It all ads up to several yuan per year.
bye bye
