China Expats - Currency Transfers
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Join Date: Jun 2006
Location: CASEY STATION
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China Expats - Currency Transfers
Can anybody currently working and being paid into a Chinese bank account provide their experiences with transferring currency back to their home country? Is their limits on transactions either individual or annual?
Join Date: Feb 2014
Location: Western Pacific
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I might not be a big help, but when I was in Shanghai there was a little guy who would change currency at very good rates. He hung around outside one of the local banks and they obviously were ok with him being there as we would go inside to the "VIP" area to transact. From what I've heard from friends at other places in China this is common.
Weirdly enough, he always had heaps of money. It was not unusual for me to trade several thousand US$ at a time with him. Anyway, the point that I am getting to is the best way to get you money out of China is to trade in your yuan for cash there and have a bag full of dosh when you go home. Seriously.
Weirdly enough, he always had heaps of money. It was not unusual for me to trade several thousand US$ at a time with him. Anyway, the point that I am getting to is the best way to get you money out of China is to trade in your yuan for cash there and have a bag full of dosh when you go home. Seriously.
I second that, it is standard practice in many places in China.
I've been converting our salaries together totalling six digit figures (no not Yuan) and never had any issues.
I've been converting our salaries together totalling six digit figures (no not Yuan) and never had any issues.
Join Date: Oct 2007
Location: World
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If everything is correctly filled in, no problems with bank wire transfer up to usd 50,000 for single transfer: usually it takes on day for the money to show up on the western account. All required documents must be provided, tough, and that maybe cannot be very simple with a lot of agencies.
