Job Discussion Forums

[stim]

Hey guys,
I was thinking of moving to China, but I need to know if it is possible to transfer the money I earn in China to my bank account in the US. I need to do that because I have college loans I need to pay in the US, and Western Union is a drag in so many ways. Any help is much appreciated!
Thanks!

[kev7161]

Just talk to the people at your home bank - - get your routing number and any other pertinent info and then go to a main bank such as Bank of China and find someone who speaks some English (or bring a talented Chinese friend) and they will get you through the process. It may take a while so bring a bagful of patience.

[Hobo Stew]

I hear Bank of America has a good deal going with some international banks around the world. Bank of China may be one of them.

[The Ever-changing Cleric]

[The Great Wall of Whiner]

Not sure about American law, but Revenue Canada can ding you in taxes if you are earning money overseas and submitting them back home.

Wary of the IRS man.!

[Renegade_o_Funk]

...

[olabueno]

I now have first-hand knowledge of this.

Go to your bank, convert your rmb to usd. Bring a friend with a chinese id card..way less hassell and rubber stamping. Then, take the loot to western union (China Post Bank). With same chinese pal, flash the chinese id, pay 20 usd. Money is in-hand the next day.

Way cheaper than letting BOC rob you of 300-400 rmb per transaction.

Only drawback, someone in the states (obviously) needs to pick it up from western union.

easy and cheap!

[dingostorm]

I send money home every month. It's tedious but doable.

You need: passport, foreign expert's certificate, tax receipt, copy of contract (or at least the page showing how much you make and the date your contract is valid) and your banking information from home including your bank account #, address and if you are sending it to someone else's account, their name, address and telephone number.

Go to the bank of China. You will be given 3 (might be 4) forms to fill out. One of the forms has the ink paper for triplication (white, pink, green) so don't write on the other forms on top of it.

You need your own phone number and address (I give them my office numbers and office address - none of the bankers speak much English anyway so they'd have to call my 'handlers' either way). Fill out the forms - you can ask the BoC people to help - they know what you need to write down.

Check off T/T for electronic wire transfer and it takes about 3 business days to go through. Cost is 200rmb to send.

I know nothing of receiving money. ^^

Hope this helps!

[JZer]

What is the limit of what you can send?

[The Great Wall of Whiner]

[Crippler]

Actually it an be up to 100% if your school signs off on your contract. There should be aplace in the contract with a % you can convert to foreign funds. I have mine at 70%