Top

Diversi modi per studenti stranieri di portare soldi in Cina

2013-08-18 14.50 ChineseTime

Many foreign students and their parents are indeed troubled by the problem of remitting money from their own country to China, according to this situation, we collected some relevant information and compiled several ways of bring money to China, hoping to provide some guidance and help.


1. Western Union
Apply to people who need remittance for emergency. Western Union can guarantee that the remittance could reach to the recipient within minutes from the sender in the globe.

Advantages:
1. Instant exchange
2. No designated bank for depositing and withdrawing, services available in every agent.
3. The export amount equal to the amount remitted without deductions during the process.
4. No charges for transferring currency to remittance
5 Each transaction is protected by electronic security systems with both monitor password and optional password for verification; it can ensure remittances being delivered to the payees all in full in time safely.
6. No need of credit card, bank account, membership or proof of nationality

Disadvantages:
1It need the phone number to verify the recipient’s information in the first time, the sender also need to carry an ID card, monitor number and other relevant information

2. Not all the branches of Agricultural Bank of China and China Post can handle the business in China, it depends the Region orientation of the banks

3. Western Union charge the service fee in accordance with the amount of remittance fees, high service charge

4. The withdrawal in China only support USD and RMB
Suggestions: make remittance with USD or RMB is better; it can reduce the loss caused by exchange rate differential


2. Money Gram
Apply to people who studies abroad, travels abroad, investigates abroad, etc.
The sender and recipient must be individuals.

Advantages:
1. Fast speed of remittance, remittance can reach to the recipient in ten minutes generally.
2. Reasonable charge, no telegram charge or deduction in the middle process.
3. Simple procedures, no need of bank account
4. No charge for the recipient

Tips: service charge
Remittance of $ 1500 or less, $ 8
Remittance $ 1500 - $ 2500, $ 15
Remittance $ 2500 - $ 9000, $ 25
Remittances below $ 900 no need of any credentials
Remittance of $ 3000 or less needs valid identity card of mainland or other countries.
Remittance of $ 6000 needs the transactor to provide passport
More than 6,000 need work cards and ID
Single remittance shall not exceed 10,000 U.S. dollars.


3. To carry cash
Exchange in the airport
Licensed money changers in Beijing Capital International airport can provide currency exchange services, foreigners can exchange with passport in the luggage-arriving spot of airport Terminal T2 and the international arrivals and international departure of Terminal T3.

Advantages:
1. Service available in 24 hours generally
2. Convertibility of 16 currencies include U.S dollars, Euros, yens, etc.

Disadvantages:
1. It’s unsafe for taking along cash; you can hardly avoid the pickpocket or other accidents.
2. High commission charge(each case charge RMB50)
3. People are required to report to the customs when the amounts of the cash they carry with exceed the prescribed amount of the authority.

Exchange in the bank or other institutions
1. Generally, the office hours of banks are from 9:00 am to 6:00 pm, the specific conditions depend on the difference of the region and which kind of bank it belongs to.
2. Most agencies can provide exchange service of US Dollar, Euro, Japanese yen, Hong Kong Dollar and the Pound.
3. Automatic currency exchange machine in some places can provide 24 hours exchange service.

Tips:
Non-residents who carry more than $ 5000 or other foreign currency equivalent enter into China, must to report to the customs and provide a written declaration and complete the register procedure, and then they are allowed to through the customs.


4. To carry international credit card
Many kinds of cards issued by international credit card organizations can use in the ATM machine in China, but the most common cards are VISA and MasterCard.

Tips:
1. Other types of cards (American Express / Diners / Discovery / JCB, etc.) are relatively rare, it is recommended to carry VISA cards to come to China.
2. The cards issued by foreign banks cannot be used to get cash from the counter of Chinese banks; you need to go to the designated bank which could provide that service if you need a large amount of cash.


5. To carry travel check
Advantage:
Travel check is flexible and convenient to use. It has a fixed par value without limits about where and when to use. There are no need to worry about the problem of lost and being stolen.

Disadvantage:
It needs the signature of the transactor and high service charge. Usually, it is not suitable for remittance.


6 Telegraphic transfer, mail transfer and demand draft
Applies to people have bank accounts in China.

1. Telegraphic transfer is a kind of remittance way which uses telegram or telex as the settlement tool. It has the characteristics of relatively faster receivable and higher cost.
The remitter need to pay the telegraph costs, usually, it is used in the urgent situation or large amount of money needed.

2. Mail transfer use the mail transfer power of attorney or the payment order as a settlement tool; demand draft use the bank draft at sight as a settlement tool.

3. The differences between demand draft and the other two ways are as below:
a. The bank charge the abouchement has no need to inform the payee to withdraw money, and the payee need to hold the withdraw ticket to take out the money.
b. Demand draft can be transferable or circulated if there are no restrictions while the other two cannot.

4. Mail transfer and demand draft are sent by post, the costs are relatively lower compare to telegraphic transfer, but the speed is relatively slower under the same conditions.

In short, you can choose a suitable remittance way according to the specific circumstances of yourself or your family and the some other relevant aspects

Our new members

Articoli correlati

Responsive image