GoKunming Forums

Money transfers

mPRin (821 posts) • 0

Please let us know what you come up with. I need to transfer some money to my mum soon and am looking for the easiest way. I heard Western Union is the simplest, but if you guys come up with a better solution please share it.

It sucks because it's so simple for her to send money to me (England to China) but a real headache the other way round.

redjon77 (510 posts) • 0

I guess I'll take Karina17's way and put it through wifes acc with a little paperwork.
Really hoping they had simple way like I do with english to english acc just through app on phone lol

Rachelc (28 posts) • 0

I used to have issues with transferring money, it was such a headache, until I found out that Western Union has international branches and they are really convenient. I'm not sure if this is relevant to redjon's situation, but all you do is take the money to the branch, tell them which country you want the money to be sent to, tell them the passport/ID card number and name of the recipient, and they can pick it up in their country within an hour or so. Also the fees are very minimal, much less than the bank ever charged me. Western Union does have kind of a bad rep and whatnot, but I've found it to be really convenient.

Ifoundthetuna (370 posts) • 0

get a chin. friend to help you set up an everbright account including online banking. if you open it on a foreign passport daily transactions are limited to 500US$ per day.
with the online banking you can use western union and no limits on the amount.
we usually send around 250Euro home and they charge 15US$.
as mentioned above cheaper than chin. banks.

plus sendingWU online means no waiting in line and no foms to fill .

OceanOcean (1193 posts) • 0

Does anyone know if Chinese banks have IBAN codes (International Bank Account Number)? I sent some money to UK and there's been some confusion about where it went. The UK bank are asking for the Chinese bank's IBAN number. I have a SWIFT number but not an IBAN. Anyone have any knowledge/experience?

cloudtrapezer (756 posts) • +1

Hi Ocean. Yes Chinese banks have IBAN numbers. I use mine regularly. The IBAN number is specific to your account. In my case it's actually my card number. Ask your branch they'll tell you what it is.

OceanOcean (1193 posts) • 0

@cloudtrapezer
Thanks. I previously found a website which said IBANS were only for European banks, but the site was dated. So thanks for your advice.

michael2015 (784 posts) • +1

If you used SWIFT to send the funds, there used to be a SWIFT network requirement that funds be delivered with a receipt message within 24 hours.

1. Check with your Chinese bank - get a copy of the Teletype/wire message. There should be a confirmation upon receipt, or the funds are supposed to be bounced back.

2. Send your SWIFT TT (usually looks like a seriously crappy fax) to your UK/wherever bank and they should be able to trace it that way. Doing the IBANS thing is stupid when you have the SWIFT info and banks TT - probably some poorly trained staff on the other end.

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