Job Discussion Forums

[Seska]

I've seen the posts on sending money home, but what is the best way to get money from home, to China?

I'd rather not carry $2300 in my pocket into China.

[lf_aristotle69]

AFAICS you're always going to be hit by a transfer/transmission fee and at least one currency conversion loss...

I'm not sure of the best way to minimise these. I just use an ATM to take money from my Aussie cards. I guess there's a Chinese ATM fee then too.

Sometimes I seem to be able to press the SAVINGS button, and sometimes the ATM will only let me use the CREDIT button. I'm not sure if there is a difference in fees there.

I'd be interested to know if others have a better way. Certainly NOT Western Union, they take a big currency conversion slice off your money. Travellers' Cheques?

Perhaps account to account transfer? Once you're here and have set up an account someone could send it for you. I'm not sure that online accounts have the necessary options for you to do it for yourself...?

But, US$2300 doesn't seem that much to be carrying around...

Once you arrived you could go to the dodgy money change guys (and ladies) who stand out the front of currency conversion bank branches and they will give you a really good rate of exchange.

They actually changed it with money in a proper *BOC bank account inside the bank in the small town I was in in Hunan, so the cash should be legit. But, you still know that you're probably helping some criminal launder his ill-gotten gains...

LFA

*BOC = Bank of China

[Seska]

I've solved the problem.

Cash the checks, piggybank the cash, open a bank account in Hong Kong when I arrive. It'll cut down on transfer rates. I got the idea from a funny source. I couldn't talk my disabled friend out of going, but she's going to go next year, but apparently she's going to use a Hong Kong bank to keep her money coming because they deposit it as the local currency. She also won't be teaching, apparently just living there and doing tutoring on her own time. (Not sure how "legal" that is.) She's got way more qualifications than me to do it though, so she'll probably do it alot better. (She has a Master's in Arts & Literature).

So gave me the idea, if I stop at a bank in Hong Kong, cash out the money for the local currency, I can keep an exit-plan in Hong Kong.

I have a plan in place to get me there too... Which reminds me that I need to ask another question.

[lf_aristotle69]

I think it takes a bit more than "I want to open a bank account" to open a bank account these days... especially in Hong Kong I'd imagine...

What will be your living address? Would you need to give Hong Kong contact information?

Your mainland Chinese employer is NOT going to deposit your salary into a HK account for you either...

LFA

[Seska]

[lf_aristotle69]

I'm not one for barking up trees on the wrong side of the bed with two in the bush...

I've seen you're other posts on other threads...

Just because you start a thread doesn't mean that it will stay solely on that track... You know?

I think most people realise threads are like conversations. There're often twists, turns, repetition, debate, disputes, etc. But, it's mostly good natured.

Mine almost always are, and certainly is in your case.

So, please learn to keep it on a shorter leash. So far I haven't seen anyone take a real swing at you, but you seem quick to send out your jab...

Isn't "the local currency" in HK going to be HK$ ?

LFA

[eddy-cool]

I've just lost interest in answering the OP's original question.