As China's economy thrives, there are more and more opportunities for overseas Chinese professionals, sixty percent of which live in the U.S., to thrive.
Chinese living in the U.S. are able to send more money back home than they ever have been. Chinese immigrants account for the largest amounts of remittance money being sent to their native country from the U.S.
There are several ways to transfer money from to China from the U.S. Seventy-five percent of the remittance market is captured by formal service providers, mainly China Post, the commercial banks and rural credit cooperatives, and the remaining 25% is carried home or sent through other channels.
One way in which to transfer money back to relatives in China is through an ATM or debit card. If the recipient is someone trusted it could be a good idea for them to have a bank card linked to your checking or savings account. If you are comfortable with the cardholder having access to money at all times, they would be able to withdraw money from an ATM machine.
For situations where you do not want the recipient to have unlimited access to the money, a pre-paid debit card is another way to go. It works just like an ATM card except that it is loaded with a specific amount of money. The cardholder will have no access to funds until you have refilled the pre-paid debit card. At this time you could notify the recipient via phone that money has been added to the card.
Sending money to China via bank wire transfer is another option. However this can often be more expensive as US banks will charge a transaction fee. This service can often 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.
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.
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. - 15224
Chinese living in the U.S. are able to send more money back home than they ever have been. Chinese immigrants account for the largest amounts of remittance money being sent to their native country from the U.S.
There are several ways to transfer money from to China from the U.S. Seventy-five percent of the remittance market is captured by formal service providers, mainly China Post, the commercial banks and rural credit cooperatives, and the remaining 25% is carried home or sent through other channels.
One way in which to transfer money back to relatives in China is through an ATM or debit card. If the recipient is someone trusted it could be a good idea for them to have a bank card linked to your checking or savings account. If you are comfortable with the cardholder having access to money at all times, they would be able to withdraw money from an ATM machine.
For situations where you do not want the recipient to have unlimited access to the money, a pre-paid debit card is another way to go. It works just like an ATM card except that it is loaded with a specific amount of money. The cardholder will have no access to funds until you have refilled the pre-paid debit card. At this time you could notify the recipient via phone that money has been added to the card.
Sending money to China via bank wire transfer is another option. However this can often be more expensive as US banks will charge a transaction fee. This service can often 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.
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.
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. - 15224
About the Author:
Everything they never told you about money transfers to china revealed! For more insider tips and information be sure and check out send money to China
