Job Discussion Forums

ESL Guru · Joined: 18 May 2003 Posts: 462

Western Union

You could make another 20,000 telling everyone how you did it and how long it took.

chinafriendhere · Joined: 31 May 2003 Posts: 22

Two questions. Where have you been working and how did you save 20,000 USD?

I second ESL Guru's suggestion. Western Union is easy and hassle free. Western Union cooperates with the Agricultural Bank of China.

MyTurnNow · Joined: 19 Mar 2003 Posts: 860 Location: Outer Shanghai

In general I'll third the advice for Western Union thru the Ag Bank...but last I heard this only works to the States. MUCH better than bank drafts.

$20,000 is tough to get advice on since none of us have ever had to deal with that kind of money here. Wink

If you go through the Ag Bank or any other Chinese institution better be prepared to send it in lots of small increments. If you try to send that much at once you'll have to answer a LOT of questions. There's also likely to be a tax on most of it, and it's a real stiffie. China really likes you to keep them dollars right here.

MT

chinafriendhere · Joined: 31 May 2003 Posts: 22

I would agree with MTN that if you go through a Chinese institution that you will pay a hefty fee and have to send it in small increments.

To clarify, Western Union works with Agricultural Bank of China. If you need to find a Western Union then you should locate or call the Agricultural Bank of China, as this is where you will find the Western Union office. I have sent 5,000 USD to my sister in America with a small fee. I suppose you could send more or just send 5,000 USD four times.

brsmith15 · Joined: 12 May 2003 Posts: 1142 Location: New Hampshire USA

Jen,

I encountered the same situation that you face and was working with about the same total amount of dough. What I did was to make several direct wire transfers from the Bank of China to my bank in the US. If memory serves, the limit was $2,000 each time but it didn't appear that there was any overall limitation. In other words, you might be able to send $2,000 each day.

Then when I came back to the US last December, I stuck around 9 grand in my pocket and made it through all the uniform types both in China and the US.

oprah · Joined: 26 Apr 2003 Posts: 382

Before I left Canada I went into the Bank of China there and asked how I could tranfer funds to Canada. They said there was no electronic tranfers from Bank of China - technology was not there?? So is direct wire transfer different than electronic transfer? I thought they were the same?

Bertrand · Joined: 02 Feb 2003 Posts: 293

Leave China (though this would mean breaking the law on the amount of cash that is allowed to leave the country in hard form) and send it from somewhere like Hong Kong. But you do know that, in China at least, you have to show that the cash is but a certain percentage (I forget how much) of your earnings, don't you?

oprah · Joined: 26 Apr 2003 Posts: 382

Regarding putting funds in your pocket and taking with you... after 9/11 I thought security was quite hefty at airports.. also if the canadian or US government caught you with these funds... what is the problem?? I can see the Chinese airport security causing a problem...but if this was in US dollars so what .. would they just worry about RMB leaving country..?? Help on this subject would be appreciated as I have been around this subject many times and the message does not get any clearer.. thanks.

Minhang Oz · Joined: 23 Apr 2003 Posts: 610 Location: Shanghai,ex Guilin

I think HK and probably Macao are the only non PRC places where you can exchange rmb, until the government bites the bullet and joins the world monetary community. If you enter by land, the chances of a body search are remote. I could even change 5 million Indo. Rupiah in Australia to buy a cup of coffee, but rmb, no way.
On the convertible amount, most agree it's 70%, but some FAO's say otherwise.
You can always buy blackmarket dollars.

Bertrand · Joined: 02 Feb 2003 Posts: 293

oprah · Joined: 26 Apr 2003 Posts: 382

I had heard now that Hong Kong has reverted back to China they would also check as to where the funds come from (eg. percent of salary) when trying to exchange funds??

Bertrand · Joined: 02 Feb 2003 Posts: 293

oprah · Joined: 26 Apr 2003 Posts: 382

So if you do the Western Union process, you purchase the amount, pay a fee and there is not declaration regarding the funds?? and then Western Unions sends the funds to an address in Canada or US?

chinafriendhere · Joined: 31 May 2003 Posts: 22

I transfered 5,000 usd to my sister in the US (I don't know if Canada is different from the US).

I walked up to the Western Union office in the Agricultural Bank of China. I told them that I wanted to send 5,000 usd to my sister. They gave me a form. I filled out the form. I gave them 5,000 USD. I paid a fee of like 300 or 400 rmb. They gave me a receipt back with the transaction number on it. I called my sistern and gave her the transaction number. She went to a Western Union office in her town. She told them she wanted to pick up 5,000 USD transfered from her brother in China. She gave them the transaction number. She showed them her ID. She received the money. No fee on her side. That is it!!

As for brining money into the US. If you bring over 10,000 usd then you must declare it or you are breaking the law. It takes about two minutes at customs to declare it. If you bring 9,999 usd then you need not declare it. If you are transfering over 10,000 usd into the US then this also must be declared. If you get caught with more then 10,000 usd then customs has the right to confiscate the money or fine you. Best to declare it! If you are transfering 9,999 usd into the US then you need not declare it. That's the law.

As for China, a foreigner can bring up to 5,000 usd out of China with out declaring (although this changes frequently so best to check with customs). If you bring anymore then you must declare it. If you get caught with more than 5,000 usd then they have the right to confiscate the money or fine you. I advise using western union and transfering 9,000 usd monday and 9,000 usd Tuesday, and carry 2,000 usd with you. No extra paper work and everything is legal.

Minhang Oz · Joined: 23 Apr 2003 Posts: 610 Location: Shanghai,ex Guilin

Jen, courtesy of SOUTH PARK, here's who to blame....I even did my own *bleep* so as not to offend anyone!

Sheila: Time's have changed
Our kids are kids are getting worse
They wont obey their parents
They just want to fart and curse!
Sharon: Should we blame the government?
Liane: Or blame society?
Dads: Or should we blame the images on TV?
Sheila: No, blame Canada
Everyone: Blame Canada
Sheila: With all their beady little eyes
And flappin heads so full of lies
Everyone: Blame Canada
Blame Canada
Sheila: We need to form a full assault
Everyone: It's Canadas fault!
Sharon: Don't blame me
For my son Stan
He saw the darn cartoon
And now he's off to join the Klan!
Liane: And my boy Eric once
Had my picture on his shelf
But now when I see him he tells me to *bleep* myself!
Sheila: Well, blame Canada
Everyone: Blame Canada
It seems that everythings gone wrong
Since Canada came along
Everyone: Blame Canada
Blame Canada
Some Guy: They're not even a real country anyway
Ms. McCormick: My son could've been a doctor or a lawyer it's true
Instead he burned up like a piggy on a barbecue
Everyone: Should we blame the matches?
Should we blame the fire?
Or the doctors who allowed him to expire?
Sheila: Heck no!
Everyone: Blame Canada
Blame Canada
Sheila: With all their hockey hubbabaloo
Liane: And that bitch Anne Murray too
Everyone: Blame Canada
Shame on Canada
The smut we must stop
The trash we must smash
Laughter and fun
must all be undone
We must blame them and cause a fuss
Before someone thinks of blaming uuuuuuuuuuuuuuuuuus