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Receiving WeChat Pay funds

Tom69 (115 posts) • 0

Is it possible to receive WeChat pay funds transferred by someone else (in this case, a Chinese person) to a foreign bank account?

I tried and it even allowed me to select a bank account located abroad, and WeChat charged the equivalent US$0.05 to check the validity of my card. However, after that the menu told me it has to be a Chinese card.

Now I do have a Bank of China account, but haven't used it in years. The card remains valid until 2049 (yes, it's true) but I've lost my internet banking access. On a trip to Kunming in 2018 (I'm currently outside of China) I went past the Bank of China but they refused to issue a new internet banking password stating that I need to be on a work visa or student visa since that's their new policy. Ditto if I want a new bank card. No more business visas (like the one I held) or tourist visas as in the past.

If I can't add a foreign card/account, then it looks like I won't be able to accept this funds transfer. In that case, there is another way I could do it, by getting this person to transfer the funds to my Chinese business partner (who resides in Kunming) and she can make arrangements to have it transferred to me through her colleague.

Can I really not accept WeChat funds paid to a foreign bank account/card (even if it's say with UnionPay)?

veravdn (43 posts) • +1

You can't transfer from WeChat pay to a foreign bank account, but this person can transfer from his/her Chinese bank account to a foreign bank account.

michael2015 (698 posts) • 0

There are P2P (peer to peer) shared apps such as Xoom, used to hold USD or CNY funds to avoid the SWIFT fees of USD 35 per wire transfer. But you have to wait for someone who wants to buy the currency you want to sell.

If you know a Chinese national - they can directly transfer USD to CNY and reverse on Alipay by registering for the special currency exchange service.

Finally - you can link PayPal (CHN) with your chinese bank account and wire funds out to a PAYPAL (USA et al) account - but you'll pay a fee - you'll have to check PAYPAL (CHN) and PAYPAL (USA) for terms and conditions.

Also, for PAYPAL China you MAY need to register your bank account using your passport. Paypal China seems to follow China's rules and regulations for international currency transfer, so that's all legit.

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