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Author Topic: What is preferred money transfer to China?  (Read 1192 times)
moni3z
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September 11, 2012, 08:51:27 PM
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Sorry for english, wondering what is preferred to transfer money to China from Canada.
Was thinking about offering bitcoin cashout to HK/Mainland China through here: http://www.mttcentre.ca

They charge only $10 to transfer anywhere in China, local payout in HKD or RMB
Is around $25 for payout in USD/CAD other currencies.

What do people in China generally prefer? Western Union? Or a different service
Can also directly load bank accounts from Canada, there are enough foreign branches of Chinese banks here to just walk in and deposit cash.

Ty
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kokojie
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September 11, 2012, 09:24:16 PM
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western union for small cash, and bank wire for bigger amounts.

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moni3z
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September 11, 2012, 09:52:44 PM
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Second question: Is it preferred to get paid out with local currency (RMB/HKD) or get paid out with USD or Marks or something else.

The reason I'm asking this is because WU is expensive to send, and often has terribad exchange rates, some people like to receive foreign currency then exchange it locally for more money
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September 11, 2012, 11:42:11 PM
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Can also directly load bank accounts from Canada, there are enough foreign branches of Chinese banks here to just walk in and deposit cash.

But only to accounts of Canadian customers using those Chinese banks, right?    It isn't like you can deposit funds in Canada into an account for someone who has only banked in China and hasn't opened an account in-person at the Canadian branch?

moni3z
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September 12, 2012, 12:21:59 AM
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Can also directly load bank accounts from Canada, there are enough foreign branches of Chinese banks here to just walk in and deposit cash.

But only to accounts of Canadian customers using those Chinese banks, right?    It isn't like you can deposit funds in Canada into an account for someone who has only banked in China and hasn't opened an account in-person at the Canadian branch?

They will EFT to another account in mainland China for low fees, if receiving account is also same company. Kind of how State Bank Of India works. Walk in, deposit cash, they send to whatever SBI account in India you want for a 1/4 of the price of wires or money transfers (WU)
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