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sainthood

Hey all.

Until recently, I had it relatively easy (though frustrating...). I get my pay, put it in the bank, hop online and 'buy' AUD as a TT, then just do a transfer to my Aussie Visa debit card... all simple, and easy, and nice!

Seems ICBC went and did an 'update'... and now it doesn't work (all the buttons etc are still there, and they seem to think there shouldn't be a problem... but now I get an error message right at the end that says I can't do it Sad

)

So, anyone out there got a suggestion for a good bank to do this with?

NB: a) no, I don't have the money to open up a HSBC account.

b) No, don't want to transfer direct to bank account - because I can't (needs to go through an intermediary, because it's a small credit union, not a big bank!)

xjgirl · Joined: 02 Feb 2010 Posts: 242

the bank of china is one to avoid

sainthood · Posted: Thu May 26, 2011 11:55 am Post subject:

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

You are not so far from Hong Kong. One possibility might be, next time you have time, is to travel to Hong Kong and open an account there. Most banks there will want to see your passport and at least one other piece of identification when you open an account. Whatever bank it is, and I don't know enough to recommend any, it should be one that will accept transfers from Chinese banks, and will transfer easily to other countries. Many Chinese banks have branches in Hong Kong, and Hong Kong banks are known for their flexibility; I do not think you will have trouble finding one to suit your needs.

kev7161 · Joined: 06 Feb 2004 Posts: 5880 Location: Suzhou, China

xjgirl · Joined: 02 Feb 2010 Posts: 242

so has anyone experience with using ICBC or construction bank
for international bank transfers?

7969 · Joined: 26 Mar 2003 Posts: 5782 Location: Coastal Guangdong

sainthood · Posted: Mon May 30, 2011 2:28 pm Post subject:

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

Steve_McQueen · Joined: 04 Dec 2009 Posts: 37

The HK banks are much more fluid when it comes to transferring money in/out of the account or overseas.

From what I found the Bank of East Asia is HK's largest local bank. They are probably your best option for the following reasons:

"On 20 May 2008, Bank of East Asia became the first foreign bank to issue yuan-denominated debit cards in mainland China, taking advantage of the recent removal of a key restriction on foreign banks' retail business in the country. The bank will issue the debit cards jointly with China UnionPay, the country's only bankcard network operator. The company claimed that the launch of debit cards would help attract retail banking customers by giving them greater convenience in accessing their deposits. In addition, it is the only foreign bank in mainland China to offer direct Alipay payment support and the only foreign bank in mainland China to independently issue credit cards (RMB-denominated UnionPay credit cards in 2008, and more recently Visa-branded US dollar-denominated cards in April 2011)."

Quoted from Wikipedia.

http://www.hkbea.com/hk/index.htm

I called Standard Chartered and they told me the minimum to open a renminbi account was around $10,000 HKD. Could be the same for BEA in HK.