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Posts: 6

Governor

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Q: No!!!! USD is NOT for Americans!!!!!

Recently I had to transfer some money to another country via western union.. Couldn't get any bank do it for me..

They said foreigners can't have USD only Chinese can have it...Foreigners can only have RMB.. Ain't that cool???

9 years 42 weeks ago in  Money & Banking - China

 
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Shifu

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Wow.. that reminds me of my experience with about 4-5 banks for the same cause. The most interesting conversation:

me: But why can’t I?

She:Because you are a foreigner. (as simple as that )

Me: So what?

She: Foreigner cannot get USD. You don't need it in China.

Me: well, it looks like I do need USD to make a western Union transfer.

She: But you are a foreigner..

Me: suppose I am going back to my country.

She: Probably you can get USD from the airport. Not here. Only Chinese can get USD from the banks. 

Me: why can a Chinese get USD? They have some use in China?

She: Of course. They have to go abroad…(Oh yeah..how could I on earth have missed that )

Me: You are Chinese. Give me by using your name.

She: I can’t. there are cameras everywhere.

Me: but they can’t hear and they won’t know.

She: No, they will know

Me: just come with me to the next door bank and get me the USD.

She: No its my working time.

Me: well………………………..

 

P.S: Tip for you 

only Bank of China is authorized to issue USD to foreigners. And you need to have your passport for that. And be ready to answer a few silly questions.

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9 years 42 weeks ago
 
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Posts: 702

Shifu

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Wow.. that reminds me of my experience with about 4-5 banks for the same cause. The most interesting conversation:

me: But why can’t I?

She:Because you are a foreigner. (as simple as that )

Me: So what?

She: Foreigner cannot get USD. You don't need it in China.

Me: well, it looks like I do need USD to make a western Union transfer.

She: But you are a foreigner..

Me: suppose I am going back to my country.

She: Probably you can get USD from the airport. Not here. Only Chinese can get USD from the banks. 

Me: why can a Chinese get USD? They have some use in China?

She: Of course. They have to go abroad…(Oh yeah..how could I on earth have missed that )

Me: You are Chinese. Give me by using your name.

She: I can’t. there are cameras everywhere.

Me: but they can’t hear and they won’t know.

She: No, they will know

Me: just come with me to the next door bank and get me the USD.

She: No its my working time.

Me: well………………………..

 

P.S: Tip for you 

only Bank of China is authorized to issue USD to foreigners. And you need to have your passport for that. And be ready to answer a few silly questions.

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9 years 42 weeks ago
 
Posts: 2310

Shifu

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Chinese "Logic".

 

 And while you ask WHY, there is tantrums, stupid blank stares and killings, just because you ask and do not simple follow !

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9 years 42 weeks ago
 
Posts: 691

Shifu

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I have done this for almost 6 time but never came across this type of stupidity. Never been asked what are you going to do with the USD? I did that at ICBC, BOC and ABC and never had any problem. Needed a copy of passport and original passport and I was done each time within 10 minutes.

 

.... "I for Idi**t".

thefidu881:

LOLOLOs someone is pissed off by the reality.

9 years 42 weeks ago
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hunny797:

yeah maybe.... Now I wonder maybe you were that A.H sitting behind the 1.5 inch glass window who refused the other foreigners

9 years 42 weeks ago
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mani786:

Are you sure you were buying the USD and not earning them while getting your b*** drilled....

9 years 42 weeks ago
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thefidu881:

No worries dude, I feel for you. It is just my experience at the banks I shared so if you have any problem jump out of the window...

9 years 42 weeks ago
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thefidu881:

@mani: Yes, I checked the rates online and got the same rates I was expecting. I am talking about USD having Washington's big photo on it.

9 years 42 weeks ago
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liantohusin:

I never had such problems but I only went to ICBC or BoC, just like she said ? why she got 3 downvote for providing a decent information lol ? so many freaks on this forum

9 years 42 weeks ago
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thefidu881:

Don't worry about that. There are many out there just to make up stories. I enjoy the down votes for this way I could understand the level of hypocrisy. Just write anything bashing China or Chinese, you ll get 'Up yours' :).  

9 years 42 weeks ago
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Hotwater:

You can have an up vote to get some balance back :-)

9 years 42 weeks ago
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Beautifulsoup:

i used Construction Bank, never had a problem, except only allowed $500 a Day. They did Suggest I bring my Chinese friend So I could get more

9 years 42 weeks ago
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thefidu881:

Yes, that's true only five hundred a day but I opened a new account with BOC and now can get as much I need...

9 years 42 weeks ago
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9 years 42 weeks ago
 
Posts: 2878

Shifu

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where do you live? aren't there little currency exchange window type shops anywhere around?

expatlife26:

Thank you downvoter! I guess that was a stupid comment!

9 years 42 weeks ago
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9 years 42 weeks ago
 
Posts: 2531

Emperor

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Banks in China are probably one of the most inefficient entities ever. 

 

When it comes to foreigners you pretty much break their system. I transferred some USD from Sweden to China using Western Union. Oh wow... what a great experience! 

 

1) Even though they had a sign up that said "Western Union" the women working there didn't know what it was...

 

2) They kept complaining my name was too long, because they had to report the transfer under some government database. My first name is 7 characters and my last name is 4 characters... What is even the point of complaining about that? Like I can change it? 

 

3) The gave me British pounds instead of USD by accident. I was like fine... I have to go! It meant more money for me lol... but no... the idiot girl... had to go through the process and make a bunch of calls to have it changes back to USD. Taking another hour on the previous two hours of waiting. 

 

4) The Chinese actually told me it is best to use my wife's name and put ALL of my finances in her name because it is easier for China and the bank staff. GREAT! So then what about what is easier for me? 

 

---

 

The basic message: China is made for Chinese, you are not welcome! 

Vyborg:

I suppose you meant 'from China to Sweden', but that barely justifies 3 downvotes. And yes, our names are too long... my parents blessed me with 3 first names, so altogether my full name consists of 26 letters (no, not all of them...). They complain, they make mistakes, their computer system is not up to it... A package from back home, adressed to me, surname and only one initial couldn't possibly be meant for me...

9 years 42 weeks ago
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Robk:

Nope, meant from Sweden to China (from one of my clients). 

 

I don't know why I got down votes either lol. It was a personal experience and a repeat pattern. Some people follow me around to down vote me like Redrum and harvey2face. 

 

"I don't like that you had that experience so here, have a down vote!" WTF lol

9 years 42 weeks ago
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9 years 42 weeks ago
 
Posts: 196

Shifu

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Foreigners can't get USD from a bank in China because they want to prevent money laundering. A foreigner would be able to convert a large quantity of RMB to USD and then flee the country and China wouldn't be able to punish them for their crimes nor confiscate the criminally obtained money because it would be in another currency and hidden in another country..

 

hunny797:

now that makes sense....

 

9 years 42 weeks ago
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Shining_brow:

Foreigners... money-laundering... while living in China...????

 

And it's NOT being done by the locals (why do the Chinese need USD from a Chinese bank?)

 

No - just another excuse for the locals to make up some BS 'rule' to inconvenience us, but with absolutely NO logic (let alone, evidence) to back up such a decision!

9 years 42 weeks ago
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9 years 42 weeks ago
 
Posts: 19790

Emperor

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Try China Merchants Bank, limit US$ 50 000 per year, spot exchange rate applies, no fee!

 

Enter 'laowai friendly bank' in search above for more on CMB. 

Shining_brow:

yeah - "laowai friendly"... send messages in Chinese and only advertise on TV in Chinese that they (and only their bank), has introduced a new policy requiring another ID for accounts... and then freeze the account when you don't do it in time....

 

And only then ring you with someone trying to speak English to tell you the problem... but not able to understand the question 'why?'.

 

Also, although it's advertised on Paypal's website, CMB won't let us connect our CMB accounts to make payments through Paypal... while other banks can!

9 years 42 weeks ago
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icnif77:

CMB ATM card with Visa/Mc was quite good for me.

9 years 42 weeks ago
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9 years 42 weeks ago
 
Posts: 4421

Emperor

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I had the opposite experience

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9 years 42 weeks ago
 
Posts: 1845

Shifu

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I have never had a problem. I have taken USD and GBP from banks here before no problem. I only needed my passport. If I forgot to take a passport an Uzi would do the trick.

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9 years 42 weeks ago
 
Posts: 448

Shifu

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I do it every time I travel outside of China. I have my Chinese assistant call the bank two days before to ensure the USD will be there. In March I picked up 6,000 USD at China construction bank, no problems.

Eorthisio:

I confirm for CCB, that's my bank and I never had any trouble to obtain USD or EUR, took them a few days to bring in smaller currencies but I always got it.

9 years 42 weeks ago
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9 years 42 weeks ago
 
Posts: 421

Governor

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I'm under the impression a foreigner can only buy $500/day while a Chinese can buy $50,000/year.

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9 years 42 weeks ago
 
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