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Banking & Credit

Re: Banking & Credit

Postby CatererGoodman » Mon Nov 26, 2012 8:36 am

^ You can't move RMB overseas. First you must exchange to another currency, then move that currency home (or to wherever).

You can search some threads on this message board or visit our blog for a summary of the options.

http://www.chinaexpatmoney.com/en/item/how-to-move-money-overseas
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Re: Banking & Credit

Postby monalisalee » Mon Nov 26, 2012 11:11 am

I believe RMB is not acceptable to banks at home.

Just out of interest, I am about to go back to N.Z, and it seems the cheapest way, (for me), will be to withdraw about 700,000 RMB (from sale of my apartment), and take it out in US $'s, then carry into N.Z
as personal luggage. There is NO limit, but a form must be filled out.
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Re: Banking & Credit

Postby adel_123 » Fri Jul 19, 2013 10:41 pm

I have already gone through the process of converting RMB to US and now need to move a large amount of it overseas..What is the best way to do this If I have physical US currency? I was hoping there was an easy option of Internet bank transfers or even going to a Bank Branch and somehow sending it??? Or is this not possible
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Re: Banking & Credit

Postby monalisalee » Fri Jul 19, 2013 11:06 pm

Hmm. Old thread, but probably nothing has changed.
You could carry in your luggage, if the Country you are going to allows no limit, but declare it.
Safer way would be to deposit in say, ICBC, then wire it to a bank account in the destination country.
There would be a charge, but not much, as is only an electronic transfer. Ask the bank how much?
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Re: China Construction Bank credit card-informing of deposit

Postby actuary » Fri Jul 19, 2013 11:48 pm

ATP wrote:For a number of years now, when I have made a payment to my China Construction Bank credit card
(mostly an RMB payment for an item purchased in USD), the process has generally been along the following:

i) ring the credit card centre to verify amount owing & obtain the bank's exchange rate
ii) go to bank & make deposit
iii) ring credit card centre & inform that payment has been made.

Failure to ring the centre after payment has been made results in me being fined a small amount, and
I have been.

To the members here who are able to make overseas purchases on their locally-issued credit cards--do you have to undertake this procedure as well? Is this standard procedure? For CCB,& other local banks as well??

An expat with no credit card from home country?
A: Yes, that is why called Ex-pat :|
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Re: Banking & Credit

Postby monalisalee » Sat Jul 20, 2013 12:02 am

I have never had, or needed a credit card from my home country. I have a Debit Card from my home country, and also a local one, and they have worked fine for 10 years, (here). I can buy on-line, shopping, whatever, and no risk of over spending.
So why the big deal?
Use the KISS syndrome.
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Re: Banking & Credit

Postby ppzinchina » Sun Aug 04, 2013 10:35 pm

HOW ?? how to get a pre paid credit card or any type of CC here so I can even pay for the membership here .. I dont have any of my CCs from Canada anymore
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Re: Banking & Credit

Postby LucyLez » Sun Sep 01, 2013 8:39 pm

adel_123 wrote:I have already gone through the process of converting RMB to US and now need to move a large amount of it overseas..What is the best way to do this If I have physical US currency? I was hoping there was an easy option of Internet bank transfers or even going to a Bank Branch and somehow sending it??? Or is this not possible


Remote capture deposit.

Very fast and very low fee.
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Re: Banking & Credit

Postby kianlim » Thu Oct 24, 2013 12:42 pm

Is there ICBC Bank located in Huaihai Lu area in Shanghai that is opens on Saturday?
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Re: Banking & Credit e commerance Yu ebao

Postby ststeven007 » Tue May 13, 2014 8:24 pm

e-commerance Yu ebao
Postby ststeven007 » Tue May 13, 2014 8:15 pm

Does anyone have information about alibaba e- commerce and if expats can invest and how to do.
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