Tips on Sending Money to China
Opportunities for Chinese emigrants grow as China's economy grows. Sixty percent of overseas Chinese professionals live in the U.S.
Chinese immigrants to the United States are able to send money to China more frequently and in greater quantity than they have been able to in the past. This group of recent emigrants sending money to China account for the largest amounts of remittance money sent from the US back to their native country.
There are a variety of different ways to send money to China. The majority of remittance to China is captured by formal service providers, mainly China Post, commercial banks and rural credit cooperatives.
One way to send money to China includes ensuring the recipient has an ATM or debit card. If the recipient is someone trusted, it's often useful for them to have a bank card linked to your checking or savings account. As long as you are comfortable with the cardholder having access to your account at all times, they could have a card and PIN number so that they could have access to cash through an ATM machine.
If you would rather they do not have access to your account at all times, then a pre-paid debit card is another option. This allows the recipient access to funds only when you have refilled the pre-paid debit card.
Another option when sending money home to China is through a wire transfer with any U.S. Bank. This can often take several weeks to process, as well as cost more than some other options.
A fast and easy way to send money to China is through an online service such as ATM Cash. This allows you to transfer money from your own computer 24 hours a day 7 days a week.
Many of the facilities that deal with international funds transfers to China are based on networks that have expanded, thus making it easier and more efficient to send money to both urban and rural areas in China.
However due to increased fears of money laundering and other illegal activities associated with these international money transfers, the U.S. government has gradually enforced its control over the banking business, stipulating that for money sent internationally, it is not permitted to exceed USD 3,000 per capita/per day, and in case it surpasses the limit, it is necessary to provide a social security card or a valid certificate. International money transfers by check are limited to below 10,000 US dollars.
Chinese immigrants to the United States are able to send money to China more frequently and in greater quantity than they have been able to in the past. This group of recent emigrants sending money to China account for the largest amounts of remittance money sent from the US back to their native country.
There are a variety of different ways to send money to China. The majority of remittance to China is captured by formal service providers, mainly China Post, commercial banks and rural credit cooperatives.
One way to send money to China includes ensuring the recipient has an ATM or debit card. If the recipient is someone trusted, it's often useful for them to have a bank card linked to your checking or savings account. As long as you are comfortable with the cardholder having access to your account at all times, they could have a card and PIN number so that they could have access to cash through an ATM machine.
If you would rather they do not have access to your account at all times, then a pre-paid debit card is another option. This allows the recipient access to funds only when you have refilled the pre-paid debit card.
Another option when sending money home to China is through a wire transfer with any U.S. Bank. This can often take several weeks to process, as well as cost more than some other options.
A fast and easy way to send money to China is through an online service such as ATM Cash. This allows you to transfer money from your own computer 24 hours a day 7 days a week.
Many of the facilities that deal with international funds transfers to China are based on networks that have expanded, thus making it easier and more efficient to send money to both urban and rural areas in China.
However due to increased fears of money laundering and other illegal activities associated with these international money transfers, the U.S. government has gradually enforced its control over the banking business, stipulating that for money sent internationally, it is not permitted to exceed USD 3,000 per capita/per day, and in case it surpasses the limit, it is necessary to provide a social security card or a valid certificate. International money transfers by check are limited to below 10,000 US dollars.
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