Absolutely brilliant!!! I remember having to stand in a long line and fill out a lot of paper work at the Agriculture Bank of China just to Western Union back home....... and that's not even including the difficulty of exchanging RMB for US dollars........
If you got the income on which you paid tax then it’s quite easy to send large amounts as well. The bank where you are receiving the salary will do it. All you need to show is salary bank sheet, tax paper and contract. You can exchange equivalent to income. They tag that exchange as remittance. To send back home is easy. ICBC charge 80+49RMB on USD6000 as example. Back your home correspondent bank may charge USD fee but it’s good for large amount of transfers.
4th method.. hop on a plane to the US(or wherever is home) when you are going back to visit anyways.... US Customs and Border Protection allows you to take up to $10,000 into the US...... I would suggest NOT taking that high of a number but, $8500 USD gives you some wiggle room and is fine with US Customs...... if you take once cent over $10,000 they will seize your money........
they dont seize your money, I took $15,000 and you just have to tell them and put it on the form when asked if bringing more than 10k" I SAID YES". they tell you to go downstairs and fill out a quick form. and they send it to the IRS. IRS will contact you if they feel its necessary . He didnt even ask to see my money or count it. I reported I had it. But I can see if you dont tell them and they happen to do a secondary check and find it, then they can seize it. He said I can take a million if I wanted but you'll need to explain to the IRS where you got it. He did ask where was source from. I said my job in China. it took all but 2 minutes. form is called a FIN CEN form 105.
@@joejeans7913 It is NOT worth the risk..... not everyone is that lucky...... It is based on the DISCRETION of the Homeland Security Officer whether they want to use the Patriot Act and seize your money or not...... and if they do.... what are you going to do about it? Not worth the risk........ www.wpxi.com/news/top-stories/man-daughter-suing-after-82k-life-savings-seized-pittsburgh-international-airport/R343IROJKJFQVBPZT27MZINPJM/
@@BorderlessCommerce no they never contacted me yet. I asked the customs officer he said they'll(IRS) find you if they need you for something. I have papers on all the money Ive made though. just that banks will only let me exchange what I made for that month. I should've exchanged it every time I got paid then there would be no problems. but I stashed it away . I suppose I could track down the receipts of direct deposits to all my funds but it would be sooo time consuming . and I left china for awhile.
You'll need two accounts. A Chinese one and an international PayPal. Get ready for 10-15% fees. And sometimes union pay cards won't work. Might have to use a visa or Mastercard chinese credit card. I don't think there is a 50k limit. I haven't tried
I use wise, but their fees are around 1.5% to transfer money into China. They can't send money out of China. Right now there is a new platform called skyremit. If you pay Chinese taxes, new channel to use to send money outside of China.
@@BorderlessCommerce thank you dude. Wise don’t support Chinese debit cards as well. Swipsy only allow US citizens. I’ll try your suggested new app. Thank you again.
@@BorderlessCommerce Yupe, but I am not in China, the money it's for what I understand in my alypay account, so I was thinking in transferred to my chinese bank account and then take it from there in a ATM or add my national account to my alypay because the app seems to let you add an international account but i am not sure
If they are Chinese, they can transfer 50,000 USD via their bank app each year without issue. If not Chinese and haven't paid Chinese taxes on that money, it is not possible through official methods only black markets. @@FaithMuyunda-n1p
I was buying the tour pass last year putting in 2000 yuan a month with my CC card it would code as travel so I was getting 5x points on my CC card. did it 3 times and tour pass locked my account. says to call them. It was easy way to use USD with Visa card to pay my bills in China and get milage points. I haven't paid for air fare in 2 years to and from china . now will have to find another way to be able to use credit cards in China. some places will take them but Alipay and WeChat is so convenient. my discover card also works everywhere UNION pay is accepted. many people didnt know that. Im heard WeChat is starting to accept American Express and Visa? is that true do a video on using credit cards or adding money to WeChat or Alipay with credit card. Data point: Alipay cant do it too often they locked mine. ive yet to call and find out why as I just got back to China last week. supposed to be in a 14 day quarantine,
@@BorderlessCommerce yeah I racked up around 10,000 points which is pretty good, considering money I would have spent otherwise. I paid hospital bills, food, electric etc. truly a great hack, while it lasted. Im going to try to call them or get a hold of Alipay by text now. Ive been on quarantine 8 days now. all ive got is time. LOL So WeChat will work? I have a Chinese debit card linked. you helped me get my first Chinese credit card! 👍I'll try to link that too if I can, I think it has to be debit though. I remember trying it on something before. maybe Alipay. didnt work though. you in China now? I came against all govt warnings. starting to think twice now!
@@BorderlessCommerce nope I just tried today .But Made my first purchase with it taking out of the amex. I couldn't top up though either. but could pay.. I wonder what it will code as with Amex? even if it is just 1:1 still better than none I guess. Groceries and Restaurants are supposed to be 4x with the gold. I'll try to keep everyone posted..
@@BorderlessCommerce As of a few days ago, Alipay Custoner Service was by far superior to anything I've experienced lately here in the US. She even apologized and said she had to address other callers but promised to call me back. My reaction was like 'ya sure u will' but to my amazement, she did call me back. That blew me away !!!! Get with the program US businesses.
Hello , I have a question, to receive money from Europe to china do I need to open an international account in china or only the local paypal account? Thanks
Do you have a Chinese bank account? And a Chinese friend/parnter that you trust? If so, you can use transferwise to send to teh Chinese person, and they can transfer to your account in China.
Great video! ❤ I'm just wondering, as a foreigner, if I already have both the Chinese + international paypal accounts set up, can I continue to send the money out of my Chinese bank to my paypal even AFTER I've left China
@@BorderlessCommerce Oh! By no 'phone activity' do you mean if they see I don't have a phone number making phone calls or texts? What if I give my Chinese friend my sim card to text with every now and then? (It's scary to think of my money being frozen :O )
@@shaz7286 Well, I should have clarified. Let's say you want to spend 10,000 RMB on paypal, if its a debit card, you usually need a SMS OTP to approve the transaction in most cases. If its a credit card, you may not need the SMS OTP but the bank will usually call your Chinese phone number and ask if you made that transaction. There is an easier way if you are from the USA though...none of these problems. Are you America?
Hi! What are some Apps my Chinese friend could use to help send me my money to my Canadian bank account? thanks for your help. I’m leaving China shortly and I greatly appreciate any advice you have to give.
ua-cam.com/video/Q4klDgjhR7g/v-deo.html try one of these. Its hard to send money out of China though! Usually need to go to the bank branch to do it, if you have a US bank account, there is another way here. ua-cam.com/video/Q14OBTVdfxc/v-deo.html
HEY BRO long time I just made it back to China was delayed because of the shortage of flights. I just went yesterday to transfer out 21000 yuan costed. 210 yuan plus my fees for the transfer in the USA. about $65 usd through the bank. any Idea how I can transfer larger amounts of money? I cant even exchange it to USD. I can only do exact amount that work pays me that is taxed.
I have an HSBC account in the USA but not in China. I went there tried to exchange money and wouldn't let me do it. (150k USD) if I have to I will find 3 people to exchange the maximum but its kind of risky as I need to find 3 solid friends I can trust. any way to do it the HK way? by transferring from mainland to Hong Kong banks? 20k yuan each time isn't an option as I live in Qingdao and would have to cross 50 times. Do you know if HSBC in China are linked with HK banks? I know USA branches sn't linked to ones in China. but wiring between banks is free. but Id need to open an HSBC premier account in China too. that doesn't mean I can get money wired or transferred with that amount, too many rules for large transfers.
@@BorderlessCommerce #2 wpuld of made a lot more sense when I lived in Zhongshan. Qingdao is just too far. Its Just costly getting money out of china. ill be happy just to be able to do it. was that 200$ fee a set fee? or on a scale the more you transfer the more it is by %? bank of China Charges a set fee after so much its only 210 yuan. max but exchanging it to usd is the hard part.thats too bad locals can only exchange 50k a year . not sure if that goes for foreigners too.
@@BorderlessCommerce The point about PayPal is that I will be loosing a lot in exchange rate and leaving that as the last option. The amount is around €5-6k a month. I will contact you on Instagram now
Hello! This video was so helpful, but my china account has been blocked because my ID card has expired. I have tried calling the customer care, they said they can’t do anything or else I come to China. Please is there anyway you know I can unlock the account. Thanks. I hope to hear from you.
You can ask any of ur friends in China to help u. Send them pictures of ur Id ,passport,visa and handwritten power of attorney so that he/she can show and verify them to bank employee for you.This way ur bank account can be unfreezed.
There are ways to do it if your job is legal. It's a hassle, but definitely possible. You would have to enter the bank in person everytime with documentation of where your funds came from and then they will transfer the money.
@@BorderlessCommerce thanks, I'm sure banks do transfers, and there should be a western union or moneygram to transfer money to my country, South Africa.
@@darrenwayne8263 Western union usually works for money outside China to inside China, not the other way around if you are a foreigner. Maybe I'm wrong and you can let me know though!
@@darrenwayne8263 Same thing. Essentially the only official channels to send money from China to overseas as a foreginer is through the bank. 3rd party services usually only work for Chinese citizens. If you were American, I could refer you to one where you don't need to go to the bank. If I were you, I would make friends with a Chinese colleague and ask them to help or just get used to going to the bank for every transfer.
I don't like the idea of using Swapsy, because we have to give them our Alipay or Wechat money QR codes and even after its done and finished those codes could technically still be used if say they were hacked or worse, so I will stick to using the Paypal method, yeah it cost alot, but it can't stand using the Chinese banks that take 2 hours or more and the attitude of the bankers, they hate us for doing this due to the paperwork and converting RMB to USD also. So Paypal we love you.
Absolutely brilliant!!! I remember having to stand in a long line and fill out a lot of paper work at the Agriculture Bank of China just to Western Union back home....... and that's not even including the difficulty of exchanging RMB for US dollars........
If you got the income on which you paid tax then it’s quite easy to send large amounts as well. The bank where you are receiving the salary will do it. All you need to show is salary bank sheet, tax paper and contract. You can exchange equivalent to income. They tag that exchange as remittance. To send back home is easy. ICBC charge 80+49RMB on USD6000 as example. Back your home correspondent bank may charge USD fee but it’s good for large amount of transfers.
Excellent, very helpful
4th method.. hop on a plane to the US(or wherever is home) when you are going back to visit anyways.... US Customs and Border Protection allows you to take up to $10,000 into the US...... I would suggest NOT taking that high of a number but, $8500 USD gives you some wiggle room and is fine with US Customs...... if you take once cent over $10,000 they will seize your money........
they dont seize your money, I took $15,000 and you just have to tell them and put it on the form when asked if bringing more than 10k" I SAID YES". they tell you to go downstairs and fill out a quick form. and they send it to the IRS. IRS will contact you if they feel its necessary . He didnt even ask to see my money or count it. I reported I had it. But I can see if you dont tell them and they happen to do a secondary check and find it, then they can seize it. He said I can take a million if I wanted but you'll need to explain to the IRS where you got it. He did ask where was source from. I said my job in China. it took all but 2 minutes. form is called a FIN CEN form 105.
@@joejeans7913 It is NOT worth the risk..... not everyone is that lucky...... It is based on the DISCRETION of the Homeland Security Officer whether they want to use the Patriot Act and seize your money or not...... and if they do.... what are you going to do about it? Not worth the risk........ www.wpxi.com/news/top-stories/man-daughter-suing-after-82k-life-savings-seized-pittsburgh-international-airport/R343IROJKJFQVBPZT27MZINPJM/
@@BorderlessCommerce no they never contacted me yet. I asked the customs officer he said they'll(IRS) find you if they need you for something. I have papers on all the money Ive made though. just that banks will only let me exchange what I made for that month. I should've exchanged it every time I got paid then there would be no problems. but I stashed it away . I suppose I could track down the receipts of direct deposits to all my funds but it would be sooo time consuming . and I left china for awhile.
how to open an account in hongkong or macao for foreigner living in mainland?
If you use Paypal to send money out of China, does the 50k annual limit still apply? Or is there no limit?
You'll need two accounts. A Chinese one and an international PayPal. Get ready for 10-15% fees. And sometimes union pay cards won't work. Might have to use a visa or Mastercard chinese credit card. I don't think there is a 50k limit. I haven't tried
What about Xoom?
That's good for money into China, not out.
@@BorderlessCommerce thanks for letting me know 🙏🏿
would you recommend WISE?
I use wise, but their fees are around 1.5% to transfer money into China. They can't send money out of China. Right now there is a new platform called skyremit. If you pay Chinese taxes, new channel to use to send money outside of China.
@@BorderlessCommerce thank you dude. Wise don’t support Chinese debit cards as well. Swipsy only allow US citizens. I’ll try your suggested new app. Thank you again.
Skyremit don’t support many countries including mine
@@Dr_Shiny are you an expat in China or a Chinese citizen? You have different channels available depending on the answer.
@@BorderlessCommerce just working in China Not Chinese
Your hoodie is sick
have you made a video to transfer from alypay to an international bank account?
@@BorderlessCommerce really?!! that sucks!! do you know if it is posible to use the chinse bank acocunt overseas to withdraw the money like that?
@@BorderlessCommerce Yupe, but I am not in China, the money it's for what I understand in my alypay account, so I was thinking in transferred to my chinese bank account and then take it from there in a ATM or add my national account to my alypay because the app seems to let you add an international account but i am not sure
What is the best way to send monry from China to India?
If you pay Chinese taxes, skyremit for sure. All online service, no more bank branch visits.
Please am asking can receive money from China into ZAMBIAN currency.
Do you legally work in China? There are two new ways to do it if the money earned has already been taxed in China. Wise and Skyremit.
No,I do work there. My friend wants to send me money in ZAMBIA,so I wanted to find out.
If they are Chinese, they can transfer 50,000 USD via their bank app each year without issue. If not Chinese and haven't paid Chinese taxes on that money, it is not possible through official methods only black markets. @@FaithMuyunda-n1p
Okay
How can I send money from BOC acnt to some other Indian acnt?
hi! My friend sent me money through wechat. I am from the Philippines. How can I transfer it to my bank account?
thats my issue also...my friend also send me money from china...but i dont know how to get it...
I got help from expeditetools,com financially .They got me a transfer of $29,000 just yesterday .
seme here 🤣
I was buying the tour pass last year putting in 2000 yuan a month with my CC card it would code as travel so I was getting 5x points on my CC card. did it 3 times and tour pass locked my account. says to call them. It was easy way to use USD with Visa card to pay my bills in China and get milage points. I haven't paid for air fare in 2 years to and from china . now will have to find another way to be able to use credit cards in China. some places will take them but Alipay and WeChat is so convenient. my discover card also works everywhere UNION pay is accepted. many people didnt know that. Im heard WeChat is starting to accept American Express and Visa? is that true do a video on using credit cards or adding money to WeChat or Alipay with credit card. Data point: Alipay cant do it too often they locked mine. ive yet to call and find out why as I just got back to China last week. supposed to be in a 14 day quarantine,
@@BorderlessCommerce yeah I racked up around 10,000 points which is pretty good, considering money I would have spent otherwise. I paid hospital bills, food, electric etc. truly a great hack, while it lasted. Im going to try to call them or get a hold of Alipay by text now. Ive been on quarantine 8 days now. all ive got is time. LOL So WeChat will work? I have a Chinese debit card linked. you helped me get my first Chinese credit card! 👍I'll try to link that too if I can, I think it has to be debit though. I remember trying it on something before. maybe Alipay. didnt work though. you in China now? I came against all govt warnings. starting to think twice now!
@@BorderlessCommerce nope I just tried today .But Made my first purchase with it taking out of the amex. I couldn't top up though either. but could pay.. I wonder what it will code as with Amex? even if it is just 1:1 still better than none I guess. Groceries and Restaurants are supposed to be 4x with the gold. I'll try to keep everyone posted..
@@BorderlessCommerce As of a few days ago, Alipay Custoner Service was by far superior to anything I've experienced lately here in the US. She even apologized and said she had to address other callers but promised to call me back. My reaction was like 'ya sure u will' but to my amazement, she did call me back. That blew me away !!!! Get with the program US businesses.
Hello , I have a question, to receive money from Europe to china do I need to open an international account in china or only the local paypal account? Thanks
Do you have a Chinese bank account? And a Chinese friend/parnter that you trust? If so, you can use transferwise to send to teh Chinese person, and they can transfer to your account in China.
Great video! ❤ I'm just wondering, as a foreigner, if I already have both the Chinese + international paypal accounts set up, can I continue to send the money out of my Chinese bank to my paypal even AFTER I've left China
If your funds aren't frozen in China, yes! They typically freeze funds if no more phone activity or your passport expires.
@@BorderlessCommerce Oh! By no 'phone activity' do you mean if they see I don't have a phone number making phone calls or texts? What if I give my Chinese friend my sim card to text with every now and then? (It's scary to think of my money being frozen :O )
@@shaz7286 Well, I should have clarified. Let's say you want to spend 10,000 RMB on paypal, if its a debit card, you usually need a SMS OTP to approve the transaction in most cases. If its a credit card, you may not need the SMS OTP but the bank will usually call your Chinese phone number and ask if you made that transaction. There is an easier way if you are from the USA though...none of these problems. Are you America?
@@BorderlessCommerce No. I'm from Ireland. Hmm then Im considering just giving my sim card to a friend.
Hi! What are some Apps my Chinese friend could use to help send me my money to my Canadian bank account? thanks for your help. I’m leaving China shortly and I greatly appreciate any advice you have to give.
ua-cam.com/video/Q4klDgjhR7g/v-deo.html try one of these. Its hard to send money out of China though! Usually need to go to the bank branch to do it, if you have a US bank account, there is another way here. ua-cam.com/video/Q14OBTVdfxc/v-deo.html
HEY BRO long time I just made it back to China was delayed because of the shortage of flights. I just went yesterday to transfer out 21000 yuan costed. 210 yuan plus my fees for the transfer in the USA. about $65 usd through the bank. any Idea how I can transfer larger amounts of money? I cant even exchange it to USD. I can only do exact amount that work pays me that is taxed.
I have an HSBC account in the USA but not in China. I went there tried to exchange money and wouldn't let me do it. (150k USD) if I have to I will find 3 people to exchange the maximum but its kind of risky as I need to find 3 solid friends I can trust. any way to do it the HK way? by transferring from mainland to Hong Kong banks? 20k yuan each time isn't an option as I live in Qingdao and would have to cross 50 times. Do you know if HSBC in China are linked with HK banks? I know USA branches sn't linked to ones in China. but wiring between banks is free. but Id need to open an HSBC premier account in China too. that doesn't mean I can get money wired or transferred with that amount, too many rules for large transfers.
@@BorderlessCommerce #2 wpuld of made a lot more sense when I lived in Zhongshan. Qingdao is just too far. Its Just costly getting money out of china. ill be happy just to be able to do it. was that 200$ fee a set fee? or on a scale the more you transfer the more it is by %? bank of China Charges a set fee after so much its only 210 yuan. max but exchanging it to usd is the hard part.thats too bad locals can only exchange 50k a year . not sure if that goes for foreigners too.
Realexpeditetools,com helped me out financially .They got a transfer of $29,000 added to my account .
I am having the exact opposite issue. We have a business and I have problem sending money to my account in China. Any suggestion?
@@BorderlessCommerce I am sending Euro from Ireland. But can even send Sterling from the UK. Do you have any suggestion?
@@BorderlessCommerce The point about PayPal is that I will be loosing a lot in exchange rate and leaving that as the last option. The amount is around €5-6k a month. I will contact you on Instagram now
Hello! This video was so helpful, but my china account has been blocked because my ID card has expired. I have tried calling the customer care, they said they can’t do anything or else I come to China. Please is there anyway you know I can unlock the account. Thanks. I hope to hear from you.
You can ask any of ur friends in China to help u. Send them pictures of ur Id ,passport,visa and handwritten power of attorney so that he/she can show and verify them to bank employee for you.This way ur bank account can be unfreezed.
@@sandy1155 thank you so much for your help. I’ll try that
nice hoodie nhe!
Where r u at this time?
@@BorderlessCommerce my friend is in china and wants to send me(India) money. can you guide him please. Alipay and WeChat are banned here India.
@@BorderlessCommerce ok i will message you. yes he has.
I got a contract for work in china, but won't go if I can't get my money out, what's the point 🤭
There are ways to do it if your job is legal. It's a hassle, but definitely possible. You would have to enter the bank in person everytime with documentation of where your funds came from and then they will transfer the money.
@@BorderlessCommerce thanks, I'm sure banks do transfers, and there should be a western union or moneygram to transfer money to my country, South Africa.
@@darrenwayne8263 Western union usually works for money outside China to inside China, not the other way around if you are a foreigner. Maybe I'm wrong and you can let me know though!
@@BorderlessCommerce thanks for info. How about moneygram
@@darrenwayne8263 Same thing. Essentially the only official channels to send money from China to overseas as a foreginer is through the bank. 3rd party services usually only work for Chinese citizens. If you were American, I could refer you to one where you don't need to go to the bank. If I were you, I would make friends with a Chinese colleague and ask them to help or just get used to going to the bank for every transfer.
my friend send me money from china tru wechat money how can i transfer it to my bank account or to my paypal accnt...
that's the problem coz i dont have a chinese bank account... i only have a bank account..
How is bringing 20k rmb per person each trip bypassing a 50k usd limit 😅😅
I guess it works but not effective
Yep to and from HK 20k RMB is another method. They are called ""mules""@@heres_2cents
I don't like the idea of using Swapsy, because we have to give them our Alipay or Wechat money QR codes and even after its done and finished those codes could technically still be used if say they were hacked or worse, so I will stick to using the Paypal method, yeah it cost alot, but it can't stand using the Chinese banks that take 2 hours or more and the attitude of the bankers, they hate us for doing this due to the paperwork and converting RMB to USD also. So Paypal we love you.
Yes, those codes can be used, but only to receive money, not to send it.
I remember doing this in vietnam.I used crypto and it cost me pennies.Just turned 60
Paypal us bank to china bank 5 days cheap..Paypal us debit card to chinese paypal expensive but fast instant $$$$
Fast but very expensive yes!