Reply To: Transferring Money from USD to CNY

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#41713
Avatar photoRick in China
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moving $10,000 USD into China would make me a little nervous

Well, you can easily transfer 10k out via western union with no hassle – or even carry it out, no? Last I read the little customs thing it allows up to 10k USD (in any currency or combination of currencies) per person per exit without having to declare it at customs… as long as it’s not a bunch more, I’d think that’s reasonable to bring over and deposit directly/transfer into rmb.

If you want to transfer from RMB to USD, legitimately at the bank, just get any Chinese national to head to bank with their shengfenzhen and few minutes later, bam, USD back in hand at a proper rate 😀 I convert RMB to USD monthly.. and use HSBC to transfer to my USD HSBC Canada account, online – it’s free with premier, otherwise some small transfer fee. In the online form you just check the box for “foreign national transferring money back” or whatever, instantly done. There are probably some limits or something but I’ve not reached ’em so never had any problems..