Job Discussion Forums

[voodikon]

i read on a web site that you can only take as much money out of the country as you brought in and, for this reason, you should save all your exchange receipts for when you leave. is this true? and if not, how does one go about sending money back home (the u.s.) to pay off monthly bills?

what kinds of taxes are there from both/either china and/or the u.s. on salary earned in china but sent or brought back to the u.s.?

[cj750]

Some people send it in the mail...no sure thing....
Banks wiring funds are expensive...sometimes there are as many as three fees...
Toting money is limited to under 10000USD and by the way the metal strips will set off the detectors.....if you carry too much
I use the Chinese family method...find a family that has relatives in the US and that sends money back home (to China)to members of their family and trade the services..cj

[Norman Bethune]

Sending money home is not so complicated if you are willing to trust service operators here. It may cost a few dollars, but getting cash out is fairly easy if you already have it in US $ or Euros.

Western Union is, in my experience, reliable and safe for money transfers to relatives back in North America. It costs upwards to $25 US to send the maximum $2000.

Keeping your exchange reciepts is a good idea, as it lets you change RMB earned here back into hard currency easier than having to go the official route of the FAO or the unofficial route of the black market. Just go to the bank with those in hand with passport and money to change and it is done in minutes.

[Madmaxola]

You can always take the money in US dollars in your carry on or luggage. No one checks, and I doubt you will make more than 80,000 RMB that you will be taking back, or am I wrong?
The other route is Western Union, which is totally fine and safe, but you lose $25. It�s worth it if you aren�t cheap.

I always foudn the black market the cheapest and best solution for changing money. Ahh capitalism, even in it�s simplest, most underhanded and secretive form is many times better than bloated Red-star beaurocracy.

[struelle]

[millie]

Well is seems for USA folks West/Union does the trick

but do you mean now.. or when you go home?.

Carrying large amounts of local or other currency out of Shanghai PD airport is not an issue.
Once there were numerous signs- no longer.

I also know lots of people cart RMB over the HK border - no worries.

However, RMB only gets a good rate in HK, terrible everywhere else so unless you change RMB in HK, you should cart foreign lucre.

Do a search - lots of threads on wiring $ home.
M

[Norman Bethune]

[millie]

Norman wrote

[Norman Bethune]