Job Discussion Forums

091212m · Joined: 20 Oct 2011 Posts: 4

I've been offered a job in China and I plan on paying off some of my student loans while abroad. I'm originally from Canada, and I was wondering how it works for me to be able to either send money home, or transfer money into dollars to be able to go online my internet banking and pay the bill?
Any information would be great! Thank you Smile

Mr. English · Joined: 25 Nov 2009 Posts: 298 Location: Nakuru, Kenya

If you will be in Guangzhou or Shenzhen or any other city close to Hong Kong, one easy way is to carry cash RMB across the border to Hong Kong and deposit it into an account there. There is no problem changing RMB in Hong Kong.

ruindasia1 · Joined: 03 Oct 2011 Posts: 32 Location: shenzhen, china

i was in the same boat you are currently in...wondering about how i would be able to do it...now that i am here i can definitely tell u, it's really easy!

for me when i need to put more money in my account back home i just had to go to my bank here in china at that time it was bank of china. I had to fill out some forms and then bam! done...money was sent over, waited like a day or two for it. Now that my school changed banks this bank i am at has a different process, so i need my chinese friend to help me do it. They told me she has to send money over to my account, so that's what i had to do. Transfer my money to her account then she would transfer it to my us account. It is not bad at all, that bank also required for me to have a copy/note from the school saying that i did in fact work there. But overall not hard to do, very simple process for me.

xiong20 · Posted: Thu Nov 03, 2011 5:21 pm Post subject:

one way to send money to Canada or elsewhere is Western Union... you will need US dollars,bank account c/w address and set it up with that bank to sign for the money at any W.U. outlet or possibly to a family member to be the recipient and depositor to your bank account.
or
open a PayPal account,deposit money to it,transfer to your bank in Canada any time, and use online banking to pay bills.

I'm in China and my employer deposits my salary in my PayPal account. I use the funds for online purchases, transfer to my HSBC account in Winnipeg (takes roughly 5 business days to appear in my account),or leave it in the PayPal account. I also have a Bank of China account and their Visa card to use for those that don't accept PayPal. My HSBC debit card is good at the BOC and I can withdraw funds from Canada.

One thing .... ensure your daily ATM withdrawal limit is sufficient to meet your needs esp. in an emergency or you'll go back every 24 hours for another withdrawal.

choudoufu · Joined: 25 May 2010 Posts: 3325 Location: Mao-berry, PRC

what fees are you being charged for using paypal?

El Chupacabra · Joined: 22 Jul 2009 Posts: 378 Location: Kwangchow

You can generally buy greenbacks at any Bank of China, and then go to one of the larger branches of China Post to wire the money to your bank account.

Since Union Pay is now worldwide, you can also open a bank account here, and use the same ATM card when home in Canada. Check to see which Canadian banks have partnerships with Chinese banks. For instance, I keep a Construction Bank account here, and Construction Bank has a reciprocal deal with Bank of America so that customers of either bank can use each other's ATMs when travelling, without a major fee.