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Q: Options for transfering money from China to the USA

Hello All,

 

I recently moved back to Shanghai where i am working and living. Any ideas on the most efficient and economical ways to transfer money back to my States bank account?

 

Thanks 

3 years 26 weeks ago in  Money & Banking - Shanghai

 
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no problem
just put it in my bank of Nigeria account and i will forward to you

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3 years 26 weeks ago
 
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Welcome to ecc. If you use the search bar, you will find many answers to this question. The poster "icnif77" has had many threads and many good answers on this subject. Good luck.

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3 years 26 weeks ago
 
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There is only one way to transfer out money, go to the bank and do it there. 

 

Do not let new accounts know of any other way. It's like VPNs.

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3 years 26 weeks ago
 
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stick around, if china does not go broke first, you will be able to move the money by taking a train to vietnam, thailand, or singapore with in 5 years. the ferry from fujian to taiwan, a good chinese friend you trust (not LIkely) could move 50000 dollars a year to your account until they lose the foreign reserves and changed the amount or abolish the privilege, likely, money is leaking out of china everywhere now, like the titanic actually, but they have plenty of bodies to plug the holes for the survivors, we shall see .http://observer.com/2016/02/ten-reasons-china-failed-from-basic-gangsterism-to-parasitic-engagements/<
/p>
interesting how kyle bass, a hedge fund manager had an article about china's money supply and you the same id name. kbass

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3 years 26 weeks ago
 
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no problem
just put it in my bank of Nigeria account and i will forward to you

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3 years 26 weeks ago
 
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Governor

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There are about 4 (legal) ways to take out the money:

 

1. Your limit is to transfer 500 Dollar per Day-> go every day to the bank

2. If you show that you paid tax on your income, you can transfer as much as you have (if you earned it and paid tax that is)

3. Take 5000 Dollar Cash every trip to the us

4. Chinese Wife / friends: per year they can transfer up to 50000 Dollar. If it is a big amount they might blacklist you first and call why you want to transfer

 

Ways to transfer is easy:

Use BoC or ICBC, exchange rmb into forex and transfer it to your home. All can be done online. Except that you have to show your tax payments if you want to do it by yourself.

I just let my wife transfer....much easier

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3 years 26 weeks ago
 
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Western Union.

Although you will lose about 10% of the money you want to send. First you pay about 5% of the total amount for sending and then an extra 5% cut because of the shitty exchange rate they use.

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3 years 26 weeks ago
 
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