Sending Money to China
As Chinas economy continues to thrive as they make headway in the technology market and other global enterprises, opportunities for Chinese emigrants grow. Sixty percent of overseas Chinese professionals reside in the United States.
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 way to send money to China is through wire transfer with any U.S. Bank or Credit Union. US banks will charge a transaction fee for this service which can take up to several weeks to process.
Another way to send money to China that is fast and easy is through an online service such as ATM Cash. This allows you to send money at any time from the convenience of your own computer.
Sending money to China has become easier thanks to an expansion of networks that deal with international transfers. These, in addition to multinational banks that have developed direct online money transfers, help Chinese abroad provide funds to family back home.
There are increased fears of money laundering and illegal activities associated with international money transfers. The U.S. government has stipulated that money sent to China cannot exceed USD 3,000 per capita/ per day and that checks 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 way to send money to China is through wire transfer with any U.S. Bank or Credit Union. US banks will charge a transaction fee for this service which can take up to several weeks to process.
Another way to send money to China that is fast and easy is through an online service such as ATM Cash. This allows you to send money at any time from the convenience of your own computer.
Sending money to China has become easier thanks to an expansion of networks that deal with international transfers. These, in addition to multinational banks that have developed direct online money transfers, help Chinese abroad provide funds to family back home.
There are increased fears of money laundering and illegal activities associated with international money transfers. The U.S. government has stipulated that money sent to China cannot exceed USD 3,000 per capita/ per day and that checks are limited to below 10,000 US dollars.
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