Transfer money to China

Closed Thread
  1. #1

    Transfer money to China

    Hi,
    our company needs to send frequently relatively small amount of money to our chinese clients (individuals) in RMB or USD. Can somebody suggest the best way to do it? Is it best to open account in Hong Kong for security reasons and trasnfer it from there? Or is it save to have account in mainland China? We are in Europe, so everything has to work online, I am going to visit Bejing and Hong kong soon to set up the bank account.

    Thanks in advance for your suggestions.

    Friendly


  2. #2

    Join Date
    Nov 2008
    Posts
    567

    Alipay for RMB.. PayPal for USD.
    and of course there is always western union

    Quote Originally Posted by ivobrabec:
    Hi,
    our company needs to send frequently relatively small amount of money to our chinese clients (individuals) in RMB or USD. Can somebody suggest the best way to do it? Is it best to open account in Hong Kong for security reasons and trasnfer it from there? Or is it save to have account in mainland China? We are in Europe, so everything has to work online, I am going to visit Bejing and Hong kong soon to set up the bank account.

    Thanks in advance for your suggestions.

    Friendly
    Last edited by pizzalover; 12-07-2011 at 09:26 AM.

  3. #3

    Join Date
    Sep 2011
    Posts
    2

    If you're a customer of Hanmi Bank (in Los Angeles), they offer you FREE international wire transfer from US to Korea, China and Hong Kong, with no transfer amount limit from Sep 6~12, 2011.

    Normally Hanmi bank charges US$20 per wire and no transfer limit if you're their customer.

    But please note that the receiver's bank and routing /intermediate bank might charge fee (about US$20?).


  4. #4

    Join Date
    Jul 2007
    Location
    TST and Macau
    Posts
    1,487

    For relatively small amounts in RMB I would use an HSBC account in China. The main problem is that you would need to go to the bank in person to Change USD to RMB and you have a limit of 50000 USD per year. Transfers can be done online. Foreign currency can't be transferred.

    If you have an account in HK you would need to pay around 110 HK$ per transfer to China and you can't transfer RMB (You can't get an RMB account without HKID if they haven't changed that very recently).