Looking For Ways To Send Money To China?
With today's interest in international relationships and commerce it has become a well known instance: wiring or transferring money overseas. In fact, China has had one of the top ranking international transfer percentages since the 1970's. Even when the dividends of transfer have decreased, China has remained at the top of the charts. Interestingly, the bulk of these 'remittance' numbers fall within the general populace not large corporations and international companies. With the increase in immigration to the United States from China and other Asian countries, there has been an equally increasing need for easy access to funds on both sides.
Unfortunately, to complete such transfers through banks and companies dealing with the distribution and conversion of US dollars into Chinese currency (renminbi), the fees for such transactions are quite steep. A person can spend anywhere from $12 to $45 each transfer. For someone who needs to make such transactions repeatedly, this can become quite expensive. The upfront cost as well as miscellaneous fees will differ with each institution and not just on the sender's side. The recipient will also have to pay a fee just to be able to accept the funds transfer.
A pre-paid debit card will allow the quick transfer of an unlimited amount of funds to an international party with only the one-time fee of $5. ATM's can commonly be found in large cities such as Beijing and Shanghai. Like most cities in the US, businesses accept debit and credit cards in these cities as well. This is why a pre-paid card can be such a convenience for both parties. Keep in mind however, when dealing with smaller cities such as Benxi and Lhasa, there will be some businesses who don't accept this type of currency and ATM's may be more difficult to find.
Once the party has received the pre-paid card it is simple and easy to continuously add money to it. You simply contact the company issuing the debit card and request additional funds to be placed on it. Think of it like adding money to a checking account. In some cases you can even set up a direct deposit on these cards eliminating the need for you to manually add funds each and every time the need arises. This is the perfect set up for smaller parties to send money internationally to one another. It is also an easy way for businesses to wire money quickly to employees whose' work takes them overseas. Transactions such as these normally take anywhere from 24 to 72 hours to occur after the initial reception of the card takes place.
Pre-paid debit cards for international currency transfers to China are becoming more and more popular as time goes on. Private consumers are using it as well as large and small businesses. In fact, it's as easy as a quick search on the internet to find out more about this happening or companies who deal in these types of matters. Despite statistics wavering on international money transfers, this new 'way' seems to be facing a constant improvement in popularity.
Unfortunately, to complete such transfers through banks and companies dealing with the distribution and conversion of US dollars into Chinese currency (renminbi), the fees for such transactions are quite steep. A person can spend anywhere from $12 to $45 each transfer. For someone who needs to make such transactions repeatedly, this can become quite expensive. The upfront cost as well as miscellaneous fees will differ with each institution and not just on the sender's side. The recipient will also have to pay a fee just to be able to accept the funds transfer.
A pre-paid debit card will allow the quick transfer of an unlimited amount of funds to an international party with only the one-time fee of $5. ATM's can commonly be found in large cities such as Beijing and Shanghai. Like most cities in the US, businesses accept debit and credit cards in these cities as well. This is why a pre-paid card can be such a convenience for both parties. Keep in mind however, when dealing with smaller cities such as Benxi and Lhasa, there will be some businesses who don't accept this type of currency and ATM's may be more difficult to find.
Once the party has received the pre-paid card it is simple and easy to continuously add money to it. You simply contact the company issuing the debit card and request additional funds to be placed on it. Think of it like adding money to a checking account. In some cases you can even set up a direct deposit on these cards eliminating the need for you to manually add funds each and every time the need arises. This is the perfect set up for smaller parties to send money internationally to one another. It is also an easy way for businesses to wire money quickly to employees whose' work takes them overseas. Transactions such as these normally take anywhere from 24 to 72 hours to occur after the initial reception of the card takes place.
Pre-paid debit cards for international currency transfers to China are becoming more and more popular as time goes on. Private consumers are using it as well as large and small businesses. In fact, it's as easy as a quick search on the internet to find out more about this happening or companies who deal in these types of matters. Despite statistics wavering on international money transfers, this new 'way' seems to be facing a constant improvement in popularity.
