The easiest way to transfer money from China to the US

Ever since being in China, I have found that doing anything that involves a bank is frustrating at best. I have been trying to find a way to transfer my money here from China back home to the US. The methods I have heard about to transfer money are:

  1. Go to the bank and have them do some sort of wire transfer. (Not every bank does this)
  2. Do a Western Union wire transfer.
  3. Carry a wad of cash over the border and convert the money once you are outside of China.
I recently discovered a fourth and perhaps simplest method for transferring money.

Here is how:
  1. Step 1. Sign up for a US Paypal account.
  2. Step 2. Sign up for a Worldwide Paypal account.
  3. Step 3. Make sure you have internet banking with your bank (probably need a native Chinese person to help you out with this one unless your Chinese is quite good).
  4. Step 4. Transfer money from your UnionPay card to your Worldwide Paypal account.
  5. Step 5. Transfer money from your Worldwide Paypal account, to your US Paypal account.
  6. Step 6. Transfer money from your US Paypal account to your US bank.
Details and pictures below.

Read article »

No comments:

Post a Comment