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Sending money to China

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mustfocus:
Hi Neil,

I'm sure you could go to any bank and ask for a second card.  How much you would need to keep in the account just to avoid fees is a different question.  Some of these fees are getting up there, but I'm sure it's possible.  You might also want to check to see if the bank she uses has a base here.  I've noticed that there are some chinese banks in my area (not HSBC).

shaun:
Neil,

I used a small local bank. They are usually able to work with you more since they are the small guys in town.  I told them what I was trying to do and we set strict parameters on the account for protection.  I didn't really need protection with Peggy but I was thinking if someone stole a debit card from her they would run it up as quickly as possible.  Then I opened a second checking account.  It is in my name and my name on the card.  I told the bank that the withdrawls would come from China only.  It doesn't matter if she takes $50.00 out or $5000.00 out each transaction only costs me $1.25.

It is funny because every time I go into the office the people there ask if there is any news about Peggy coming to America.  They are almost as excited as I am about it.

When I went to China last June I took the card with me and gave it to her.  We went to the local BOC near Peggy's home and explained what we wanted to do.  We negotiated an exchange rate and we are set.  It is smooth and quick.

Pineau:
Neil,

I opened the joint account last month when I went back to pay my taxes and settle some other business. They gave me a paper for her to sign. Without it she cant write checks but she can still ust the ATM card. While I was back i the USA i gave her my ATM card to use as I did not need it.

Kiwi303:
i've been looking into this too... www.ikobo.com seems workable. First time you send money, they tack on a fedex fee and send the recipant a prepaid Visa card, after that, just a transaction fee and they recharge the prepay card again, the transaction fee is better than Xoom, moneygram, or Western Union. 

US$2.25 an ATM withdrawal seems a little steep, but actually cheaper than overseas charges on my banks standard Cirrus logoed EFTPOS card if I just posted one of those over and that was used in an ATM there.

auburnkp:
my bank, Wells Fargo (west coast US) charges $8 for an international money transfer that takes 2-3 days. Your significant other has to use Agricultural Bank of China though. There are ABC banks all over China. You can check their website for more info. Goodluck!

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