1. Consider a Third Party Wire Service
The first item on our list to guide you on how to transfer money to China is quite simple - use third party wire services like Western Union or MoneyGram. One of the significant advantages of wiring money using these companies is that the money can reach recipient safely and quickly. Western Union, for instance, has numerous physical locations scattered all across the globe, so finding one in your area won't be such a hassle. The fees charged for transferring money via these third party agencies depends upon how much money is to be transferred and where the money is to be transferred.
2. Bank to Bank Transfer
Another safe method of transferring money to China is by using your very own bank account; you can transfer money from your bank account (not located in China) to another bank account in China. In order to do this, you need to visit your bank, set up the Chinese bank account as ‘the recipient' and wire the money over. One thing to remember is that different banks charge different rates to transfer money over; some banks may cost more than others. However, as mentioned before this is a safe method of transferring money.
3. Use PayPal
If you own a PayPal account, then you can easily transfer money from this account to a Chinese bank account. Similar to all methods mentioned in this article, this is a safe way to transfer money. You can even transfer money from one PayPal account to a Chinese PayPal account. The fees charged will vary whether you transfer money from a Paypal account to a typical bank account or from a Paypal account to another PayPal account; the latter is more cost-effective. Make sure to follow the steps of how to get the money transferred over depending upon the method you wish to select.
Unlike Western Union and MoneyGram, Xoom is entirely digital. This means that you can simply log into your Xoom account and transfer money into someone else's bank account; there is no need to step into an office and bring cash to be moved as in Western Union and similar financial agencies. Moreover, Xoom is more economical in its fees for transferring money when compared to Western Union, and Xoom also offers door-to-door cash deliveries. One thing to keep in mind is that Western Union does transfer money to more countries than Xoom, but China is included for both.
About Article Author