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Q: Best bank in China to wire back money for student loans?
wiring back to the US every month. which bank is best?
11 years 32 weeks ago in Money & Banking - China
I'd say Bank of China is your best bet.
You'll need a Chinese friend to help you (the money will be sent in their name), all the details of the bank account you'll be sending it to (it's probably best to call your bank's service department first and get them to give you their swift number and anything else they think is relevant), and the money in cash.
We did it a few times. It took half an hour and the money arrived in my partner's bank account the same day. It took a matter of hours, in fact, which is strange, because international transfers are meant to take 2-3 working days. I wasn't complaining!
MissA:
Cat, you are too kind.
I should also point out, you'll end up paying a couple of hundred yuan each time.
I don't know how much your student debts are, nor is it my business in the slightest, but it would work out much more cost effective to send back a larger amount, every three-four months, rather than a smaller amount every month.
