Forums > Help! > International Money Transfer
Login/Join to ParticipateCarpal \'Tunnel
2,895 posts
Location: Cambridge UK
as some of you may know, I've been working away in China. In a couple of weeks I'm going to leave my school and spend a fortnight travelling to a few places I want to see before I go...
Now my problem is:
I have saved a bit of money here, and I don't want to be wandering around China with all of it on me: So I want to send it back to England (into my bank account for preference)
does anyone have any advice/experiences of this kind of thing?
TIme is pretty pressing now, so swift replies would be appreciated
Thanks for your time
Because ActiveAngel sounds like a feminine deodorant
Like sex, I'm much more interesting in real life than online.
'Be the change you want to see in the world around you' - Ghandi
what goes around comes around. unless you're into stalls.
4,030 posts
Location: Bali, Australia
ask a local bank?
.....Can't juggle balls but I sure as hell can juggle details....
Carpal \'Tunnel
2,895 posts
Location: Cambridge UK
Hopefully I'll have a chance to take someone into town to help me explain at the weekend.... but I'm a bit worried as banking in china is downright wierd.
for example, I had to close one account as, although the bank is nationwide, it refused to let me withdraw money from other cities. Also, there is a western union point I have found, but I haven't been able to find out wether they are a sending site or not (some sites are recieve only)
I have also heard numerous nightmares from other people about problems with their accounts in china, so am a little wary
I'm asking for a few alternatives, as once I have the time to sort it out, I want to get this out of the way so I can start worrying about how to get all the stuff I've accumulated back home
Because ActiveAngel sounds like a feminine deodorant
Like sex, I'm much more interesting in real life than online.
'Be the change you want to see in the world around you' - Ghandi
fluffy mess
197 posts
Location: Brighton, United Kingdom
You can transfer money through the post office too. Depending on the amount it may actually be cheaper.
"I want to know if you can see beauty even when it's not pretty, every day,and if you can source your own life from its presence.." - Oriah Mountain Dreamer
Lambretta Fanatic
4,998 posts
Location: United Kingdom
Banks, Mailboxes/western union.... post office...
All cost you, the first two the most.
Corporate Circus Arts Entertainer
3,989 posts
Location: Auckland, New Zealand
Go to a Travel Agent, and discuss Travel Cheques.
Local Travel Agents should have other options too. I too would be wary of cash. Make sure to declare ALL of it on your customs forms too...
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6,650 posts
Apart from the previous advice: Is PayPal an option? IF you can transfer money from China onto a paypal account you can withdraw it back in your home country and wire it to your private account.
Just if nothing else works - I guess it's less the costs than even Western Union... Might be worth checking.
Good luck
the best smiles are the ones you lead to 
Sitting down facing forward . . .
2,387 posts
Location: Christchurch, New Zealand
Depending on how much you've got stashed away will probably depend on the answer.
If you do a TT (International bank Telegraphic Transfer), you'll have the fixed fees at sending end and receiving end - usually around US$20 each end. So for small amounts, the fee is percentage-wise high.
If you pay one PayPal account from another, it'll cost you from memory 4 or 6%. Tom's idea of topping up your PayPal account from a bank in China and then withdrawing it at a bank at "home" is a pretty good idea if it works like that!
Travellers cheques are pretty good but could still be flogged and signature forged or just flogged.
You could also put the credit card in major credit.
Hope some of this is helpful.
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Carpal \'Tunnel
2,895 posts
Location: Cambridge UK
thanks for all the suggestions people!
hopefully will get a chance to try them out in the next couple of days: I just don't hold out much hope for the chinese banking system/post office
Because ActiveAngel sounds like a feminine deodorant
Like sex, I'm much more interesting in real life than online.
'Be the change you want to see in the world around you' - Ghandi
what goes around comes around. unless you're into stalls.
4,030 posts
Location: Bali, Australia
Yeah I was thinking that. About the post office anyway, I'm sure the banks are more together, as there have western business and people doing business with China for a while now. Though I guess they are more used to money pouring in than out...
.....Can't juggle balls but I sure as hell can juggle details....
6,650 posts
PayPal should be possible.. I now that people are doing eBay trade from China to Europe and receive payments via PP... as you put it 'gabe: hopefully they have a two way procedure...
the best smiles are the ones you lead to
Lambretta Fanatic
4,998 posts
Location: United Kingdom
How would it be possible to pay money in to a paypal account in a foreign country?
(when living in said foreign country and not having legal right to open a bank account to sign a paypal account to.)
Is it possible to pay in to a paypal account via a bank?
6,650 posts
Carpal \'Tunnel
2,895 posts
Location: Cambridge UK
I can send it via my bank, so long as its in my account, not in cash, for a nominal fee (a few pounds) if its less than 10000 yuan
(15 yuan to a pound roughly)
Thanks for all your helpful input everybody!
Because ActiveAngel sounds like a feminine deodorant
Like sex, I'm much more interesting in real life than online.
'Be the change you want to see in the world around you' - Ghandi
old hand
904 posts
Location: India/Bristol
Bankers drafts also incur a fee in the UK account
Check with your bank, Natwest is £10 for what I want to send
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Phirenix
Carpal \'Tunnel
2,895 posts
Location: Cambridge UK
bah it was lies all lies, I found out today, I'd actually have to go to another town, with a document proving its my wages, and then change it over anyway: no time to fix things now as I'm leaving tomorrow morning
, so I'll have to find another way: hope I won't face lots of restrictions on changing money!!I hate Chinese banks!!!
Because ActiveAngel sounds like a feminine deodorant
Like sex, I'm much more interesting in real life than online.
'Be the change you want to see in the world around you' - Ghandi
140 posts
Location: Wien
banks can be good or bad, depending on country and such. I've had good and bad experiences with them.. so it depends, but you always end up paying a small percentage (depending on if you're a customer or not) with a fixed fee on top.
Western Union is horrible, they charge a huge percentage of the money you're sending, though they work 100% and it's relatively quick?
I've been using MoneyBookers.com to transfer money for a few years now and works great. Costs about 1.50 to transfer. Takes up to a couple weeks to get over, but the recipient is an email address... so they get an email and have to make some sort of account to get the money. I've sent several thousand Euros all over the world using it and only once had a problem sending to my parents, because they are not very computer or internet-savvy and were unable to create an account... and support told me the money is transferred and away from their control... so maybe they got the money and just didn't see it, or it was was lost.. either way it thankfully wasn't a lot and that was the only time i've had a problem out of maybe 20 transactions in 3 years.
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what goes around comes around. unless you're into stalls.
4,030 posts
Location: Bali, Australia
So, lazy angel.. what happened in the end??
.....Can't juggle balls but I sure as hell can juggle details....
Carpal \'Tunnel
2,895 posts
Location: Cambridge UK
I can't talk about it at the moment, wait a couple more days
Because ActiveAngel sounds like a feminine deodorant
Like sex, I'm much more interesting in real life than online.
'Be the change you want to see in the world around you' - Ghandi
Carpal \'Tunnel
2,895 posts
Location: Cambridge UK
Ok, so now I'm back in the UK:
I got someone to transfer 10,000 of my yuan into dollars (on the QT) to ensure I didn't go over the 20,000 yuan limit for taking money out of the country, and then took it home with me.
Transferring money was just way too much of a pain in the a55 and I didn't fancy paying western union to transfer the money for me, especially as I read lots of bad things about them
Because ActiveAngel sounds like a feminine deodorant
Like sex, I'm much more interesting in real life than online.
'Be the change you want to see in the world around you' - Ghandi
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