Job Discussion Forums

MuscatGary · Posted: Fri Apr 03, 2015 4:23 am Post subject: Still considering...

Still thinking about a job offer in Beijing. A couple of questions: How easy is it to get your money out of China? Do Chinese debit cards work in other countries such as France and Spain?

Thanks in advance.

roadwalker · Joined: 24 Aug 2005 Posts: 1750 Location: Ch

vikeologist · Joined: 07 Sep 2009 Posts: 600

It's not easy, but it's (usually) possible. You'd need to provide the bank with proof that you've paid tax in order to have funds transferred to a foreign account (or have a Chinese person do it through their account which is probably what most people do).

Big cities in other countries will have cash tills you can use, but you'd pay hefty transaction fees so I don't think this would be the best way of doing it.

But basically it's possible to get your money out; just a hassle.

Deats · Joined: 02 Jan 2015 Posts: 503

It's very easy if you know what you are doing.

I always went to Bank of China with the head of foreign affairs department and he had them send my money to my bank in England. It was sent through an intermediary bank and cost next to nothing. I was sending large sums at a time (think it was 200RMB for the transfer, and the exchange of RMB into $ to send it cost a small percentage on the exchange rate - something like 0.5%).

The first time I did it, the teller didn't know what they were doing. It took a while. Once you've done it for the first time, from then on it's VERY easy and VERY cheap.

Of course, you can get ripped off by Western Union, if you prefer.

Son of Bud Powell · Joined: 04 Mar 2015 Posts: 179 Location: Since 2003

It can be a major hassle if your school doesn't pay your taxes as it should. In that case, your FAO or boss won't want to go near a bank for you. Find a Chinese teacher or a Chinese friend who can help you do the transactions.

I had one student who got a real rush out of going to the bank for me. He was an economics major, and he was madly in love with a girl who worked at the bank. He liked being seen with a wad of money at the bank.

If you do it right, you'll make friends with people who will go out of they ways to help you. Just don't expect your employer to do anything for you. (Some FAO's are very helpful; others should be put to work in a sweat shop somewhere. They're a menace).