Job Discussion Forums

Brendon · Joined: 23 Mar 2003 Posts: 16 Location: New Zealand

Hi,

I'm wanting to remit some money back to my account in New Zealand. Can I use USD to do this or does it have to be $NZD.
Also I read that the fees are quite high. How much are we talking roughly?

Appreciate your help.

B

dudeabides · Joined: 23 Apr 2003 Posts: 21

I am from Canada, and I have sent money there a few times. It's simple. I exchanged my RMB for USD (on the blackmarket), and went to the main branch of the Bank of China in my city. The tricky part was finding someone in the bank who understood what the hell I was trying to do. Once i filled out the proper forms and the bank teller stamped several hundred pieces of paper, PRESTO! ...the USD's were in my Canadian account within 24 hours. It only took me ten minutes in the bank.

The first time I sent money, I sent RMB which was a nightmare because I had to show them documents from my school saying how much money I made, etc. Even then I could only send 70% of my salary. With USD no one questions you at all! Just fill in the forms (basically just your address, the banks address and your account number) and they process it. I didn't even have my passport on me the last time I sent money, and they said 'no problem'.

As for the cost, I think I sent about 1000USD and it cost about 300RMB. I thought that was very fair.