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MissVicki
Barker
Joined: Aug 23, 2006
Posts: 160
Status: Offline
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 Posted:
Apr 18, 2007 - 10:21 AM |
 
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| Post subject: Western Union |
I posted this last night but it seems to have disappeared. Am I right in thinking if I (or somebody else) change RMB to pounds at a bank then I can easily Western Union it back to the UK?
Thanks Vicki |
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aquagirl
Veejay
Joined: May 02, 2005
Posts: 2094
Location: in a gumdrop house on lollipop lane
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Apr 18, 2007 - 10:43 AM |
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from my understanding, you have to wire it in u.s. dollars. no idea why. apparently it is a china-specific thing. |
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deliciousness and exciting life go hand in hand |
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MissVicki
Barker
Joined: Aug 23, 2006
Posts: 160
Status: Offline
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Apr 18, 2007 - 10:54 AM |
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Thanks, so if I change RMB to $ then they will wire it without documents etc? |
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hammerforlife
Low Seater
Joined: May 24, 2004
Posts: 3087
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Apr 18, 2007 - 10:56 AM |
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That's what I understand, although I haven't tried it that way. Its the exchange from RMB to USD/GBP that causes the problem usually, not the transfer part. |
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aquagirl
Veejay
Joined: May 02, 2005
Posts: 2094
Location: in a gumdrop house on lollipop lane
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Apr 18, 2007 - 12:24 PM |
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my friends have had no problems changing rmb to usd. no paperwork needed besides passport. wiring the money through western union does not require any papers. other people have said differently on these boards, so i cannot figure it out. maybe it depends upon how much money, whether the clerk is having a bad day, and barometric pressure changes. maybe just give it a go and then post back about your experience. |
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deliciousness and exciting life go hand in hand |
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sinned69
Veejay
Joined: Sep 01, 2004
Posts: 1814
Location: China, Middle East, Asia Pacific
Status: Offline
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Apr 18, 2007 - 01:23 PM |
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cannot simply take rmb/yuan/kuai into a legitimate bank and exchange it to any other currency without a number of docments. see my other posts on this subject. |
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qing nin shao deng |
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KJ
Rocker
Joined: Sep 28, 2005
Posts: 731
Location: Shanghai
Status: Offline
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May 21, 2007 - 09:39 AM |
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Can someone direct me to a Western Union (prefer Gubei area) and also let me know if they are English capable? |
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Bubba's: Smokin' the Good Stuff Since 1996
http://www.bubbasasia.com |
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mswp
LoopKicker
Joined: Mar 06, 2005
Posts: 808
Status: Offline
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May 23, 2007 - 10:54 AM |
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Go to the Western Union website and they will list all the Shanghai locations. China Agriculture Bank and some of the big post offices are the main Western Union sites. You have to give them the money AND the fee in the currency you are sending. You have to fill out a form and show them your passport. You WANT a form - it's proof you send the money, and gives you the tracking code so you can find out online when the transmission was completed.
I don't know what passports Aquagirl's friends carry, but if you're not Chinese, you have restrictions on converting RMB - either that you changed currency to RMB, or that you earned and paid taxes on the money here. Last time I sent money with Western Union, I asked whether I could bring RMB the next time, and the clerk said no, it had to be USD.
Hammerforlife is right. The hard part of the transaction is the conversion, not the Western Union transaction. It takes me about 4 hours to take all the steps necessary to send money. |
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chingiskhan
Low Seater
Joined: Apr 24, 2007
Posts: 3347
Location: Shanghai
Status: Offline
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May 23, 2007 - 11:21 AM |
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Yes, ALL China Agriculture Banks are Western Union offices and you need to convert the money before sending. |
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KJ
Rocker
Joined: Sep 28, 2005
Posts: 731
Location: Shanghai
Status: Offline
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May 23, 2007 - 03:51 PM |
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Okay, it was a lot more simple than I expected. I had USD so that sounds like it made everything a lot easier.
I went to ICBC bank over by the Gubei Carrafore. You can transfer up to 5,000 USD per day and the cost of sending that was just under 600 rmb. It took about 45 minutes, which was mostly waiting in line after filling out the simple form. The money arrived in the U.S. on Wednesday and I sent it on Monday.
KJ |
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Bubba's: Smokin' the Good Stuff Since 1996
http://www.bubbasasia.com |
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yu888
Board Deity
Joined: Jan 25, 2003
Posts: 19240
Location: ZhongShanParkArea SH
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May 23, 2007 - 04:10 PM |
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sweet. so all i have to do is get a black marketeer to exchange my RMB.  |
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The right to free speech does not grant you freedom from the repercussions of what you say. This and more on my Blog...Random Thoughts about Living in Shanghai...and more |
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thinkpinkgal1903
Seeker
Joined: Aug 15, 2006
Posts: 66
Status: Offline
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Aug 02, 2007 - 10:34 AM |
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Can we change RMB to USD here in the bank in Shanghai? |
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mswp
LoopKicker
Joined: Mar 06, 2005
Posts: 808
Status: Offline
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Aug 03, 2007 - 09:31 AM |
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You can, but you have to prove that you paid taxes on it, or that you converted it from USD to RMB in the last six months, and you're leaving and want to convert it back. The last time I asked my company for tax certification, it took them about three weeks to get the proper document.
Money changers are much more convenient and faster too. If you go to a bank near People's Square, often they are hovering outside and will approach you (if you're obviously western). Before you go, check the Bank of China website for their current exchange rate so that you can negotiate to within 40-80rmb of that number. Play with your calculator so you know how much rmb you have and how much usd you should get. It's counter intuitive, but if you are going rmb to usd, you want a lower exchange rate. So if the rate is 8.2, you will get less USD than if the rate is 7.55.
On the other hand, Chinese citizens have an annual conversion limit, so you could probably get a friend to do the bank conversion for you. |
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p1atl10
Shanghai Royalty
Joined: Mar 18, 2005
Posts: 8585
Location: Shanghai
Status: Offline
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Aug 04, 2007 - 08:05 AM |
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A lot of previous posts on this.....
Bank of China
Corner of Nanjing Lu and Shanxi Lu
(or any other "major BOC branch)
RMB (reasonable amount, last week I changed the equivalent of USD$400. Not sure what the top limit would be)
US Passport
Smile on your face as you wait your turn (15 minutes to an hour).
Rmb go in, USD go out!
Simple |
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