McH0 wrote:Check to see if your bank offers this service. Many major US banks and credit unions do these days. Bank of America offers it. Some banks may want you to be "credit qualified" as they are taking a chance offering you immediate funds availability against a check which may ultimately bounce.

Thanks. You've outlined the process from China (cashiers check/bank cheque?) from you, to the US (your account).

I am enquiring about the process, with a slightly different perspective: bank cheque from China, made out to creditor/service provider, utilising the process as you've mentioned, & payment of said cheque into creditor's/service provider's account. I wonder...?

Thanks.

ATP wrote:

McH0 wrote:Check to see if your bank offers this service. Many major US banks and credit unions do these days. Bank of America offers it. Some banks may want you to be "credit qualified" as they are taking a chance offering you immediate funds availability against a check which may ultimately bounce.

Thanks. You've outlined the process from China (cashiers check/bank cheque?) from you, to the US (your account).

I am enquiring about the process, with a slightly different perspective: bank cheque from China, made out to creditor/service provider, utilising the process as you've mentioned, & payment of said cheque into creditor's/service provider's account. I wonder...?

Thanks.

While a business can have an account at an institution that offers a remote deposit service, the business itself needs to handle the process of depositing the check. If you have a business account at, say, Bank of America, you can take checks payable to your business and deposit them remotely.

If, however, you are the consumer then that would not work. What you could do is get the Bank of China check payable to you, deposit it into your US account and do an ACH transfer to the business.

McH0 wrote:

ATP wrote:

McH0 wrote:Check to see if your bank offers this service. Many major US banks and credit unions do these days. Bank of America offers it. Some banks may want you to be "credit qualified" as they are taking a chance offering you immediate funds availability against a check which may ultimately bounce.

Thanks. You've outlined the process from China (cashiers check/bank cheque?) from you, to the US (your account).

I am enquiring about the process, with a slightly different perspective: bank cheque from China, made out to creditor/service provider, utilising the process as you've mentioned, & payment of said cheque into creditor's/service provider's account. I wonder...?

Thanks.

While a business can have an account at an institution that offers a remote deposit service, the business itself needs to handle the process of depositing the check. If you have a business account at, say, Bank of America, you can take checks payable to your business and deposit them remotely.

If, however, you are the consumer then that would not work. What you could do is get the Bank of China check payable to you, deposit it into your US account and do an ACH transfer to the business.

Thanks again. Banks being banks, there is the inevitable question of fees. I know from experience that the BoC bank cheque is RMB50. As I am from Australia, and assuming that an Australian bank has this service, I guess one is likely to be hit 2x--deposit, and then transfer to creditor's/service provider's account. Does this sound right?

ATP wrote:

McH0 wrote:

ATP wrote:

McH0 wrote:Check to see if your bank offers this service. Many major US banks and credit unions do these days. Bank of America offers it. Some banks may want you to be "credit qualified" as they are taking a chance offering you immediate funds availability against a check which may ultimately bounce.

Thanks. You've outlined the process from China (cashiers check/bank cheque?) from you, to the US (your account).

I am enquiring about the process, with a slightly different perspective: bank cheque from China, made out to creditor/service provider, utilising the process as you've mentioned, & payment of said cheque into creditor's/service provider's account. I wonder...?

Thanks.

While a business can have an account at an institution that offers a remote deposit service, the business itself needs to handle the process of depositing the check. If you have a business account at, say, Bank of America, you can take checks payable to your business and deposit them remotely.

If, however, you are the consumer then that would not work. What you could do is get the Bank of China check payable to you, deposit it into your US account and do an ACH transfer to the business.

Thanks again. Banks being banks, there is the inevitable question of fees. I know from experience that the BoC bank cheque is RMB50. As I am from Australia, and assuming that an Australian bank has this service, I guess one is likely to be hit 2x--deposit, and then transfer to creditor's/service provider's account. Does this sound right?

At least in the US, there are no fees for deposits made by your bank's remote deposit systems. Neither are there fees for ACH transfers. When I deposit a demand draft from Bank of China my net fee is the 50 RMB the demand draft costs me. That said, I know that some banks in the US charge business account holders a monthly fee to use the remote deposit service, but not all do.

Hell, they charge for everything, minimum balances, monthly fees, paper staements, transfers, checks, ATM's. BUT only in China if you go to a different branch of the same bank they charge you fees or for using an ATM.

Is any member here able to inform me if Bank of East Asia still operates in Shanghai/China? I have rung several Shanghai branches, and getting repeat recordings or the like. Do they have an operating "hotline/call centre?".

Thanks.

ATP wrote:Is any member here able to inform me if Bank of East Asia still operates in Shanghai/China? I have rung several Shanghai branches, and getting repeat recordings or the like. Do they have an operating "hotline/call centre?".

Thanks.

Yes, Bank of East Asia is still alive and kicking. (800) 830-3811.

They take their holidays seriously and are currently closed.

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??

I rang my China Construction Bank call centre, and enquired about which countries permit use of Chinese bank-issued credit cards??

The girl in the call centre told me that (she didn't have) there was no list available, but that UnionPay and Visa are accepted "all over the world". Really??

Did an internet search on "UnionPay" and found a wikipedia entry, which lists its current international (& domestic) network. Might be useful to others here.

http://en.wikipedia.org/wiki/China_UnionPay

Anyone know if I can transfer rmb to a uk account I'm expat wit work permit but it all seemed v difficult/impossible

^ 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