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Options for sending 20,000RMB in cash back home

Travel Forums Asia Options for sending 20,000RMB in cash back home

1. Posted by sandy456 (Full Member 213 posts) 10y

sandy456 has indicated that this thread is about China

Options for sending 20,000RMB in cash back home

Hey,

I made quite a bit of cash teaching private English lessons in China. Now, I have a whole brick of RMB (Chinese money) and would like to send it back to Canada. I don't want to open a bank account in Asia, because I'm leaving this continent soon for America. I wish to deposit the money in my Canadian account and use my Interac debit card to withdrawl small amounts as I need it . I don't want to travel with a lot of cash.

So, logically, the only option that I could think of is to send the money back home via a some sort of easy, quick, or cheap transfer method.

I've never done this before, so I'd like to here from some people who've sent money to your home account from Asia before (Shanghai, specifically), cause I'm here now.

Is it just a matter of showing up at any Chinese bank and paying the fee, show your passport, show your bank account details and off it goes?

Is there a maximum limit? I have close 20,000RMB I'd like to send home.

By the way, I hate avoidable bank fees and prefer to bypass them if possible - both here in China and back home.

Let me know what you think is the best way to go about this.

Thanks

2. Posted by China1 (Budding Member 17 posts) 10y

Hi sorry I never sent any money home just took it with me.
I would guess the best way would be to just go to a bank and pay the fee.

Were you teaching privately in Beijing? at a school?

3. Posted by Hien (Moderator 3906 posts) 10y

The most common way of sending money is via Telegraphic Transfer (T/T). If you have your account information (account no., bank name, etc), all you have to do is to pay the T/T fee and transfer it to your account back home in Canada. The fee is unavoidable, but I believe it's worth spending it when it involves so much money.

I'd say it is best for you to go to a well established bank in Shanghai and consult them for advice.