As China's economy thrives, there are more and more opportunities for overseas Chinese professionals, sixty percent of which live in the U.S., to thrive.
Chinese emigrants account for the largest amounts of remittance money sent back to their native country from the U.S. This is because they are able to send money back home in greater quantity and more frequently than ever before.
There are several ways to transfer money from to China from the U.S. Seventy-five percent of the remittance market is captured by formal service providers, mainly China Post, the commercial banks and rural credit cooperatives, and the remaining 25% is carried home or sent through other channels.
One way in which to transfer money back to relatives in China is through an ATM or debit card. If the recipient is someone trusted it could be a good idea for them to have a bank card linked to your checking or savings account. If you are comfortable with the cardholder having access to money at all times, they would be able to withdraw money from an ATM machine.
If you would rather they do not have access to your account at all times, then a pre-paid debit card is another option. This allows the recipient access to funds only when you have refilled the pre-paid debit card.
Another option when sending money home to China is through a wire transfer with any U.S. Bank. This can often take several weeks to process, as well as cost more than some other options.
A fast and easy way to send money to China is through an online service such as ATM Cash. This allows you to transfer money from your own computer 24 hours a day 7 days a week.
Many of the facilities that deal with international funds transfers to China are based on networks that have expanded, thus making it easier and more efficient to send money to both urban and rural areas in China.
However due to increased fears of money laundering and other illegal activities associated with these international money transfers, the U.S. government has gradually enforced its control over the banking business, stipulating that for money sent internationally, it is not permitted to exceed USD 3,000 per capita/per day, and in case it surpasses the limit, it is necessary to provide a social security card or a valid certificate. International money transfers by check are limited to below 10,000 US dollars.
Chinese emigrants account for the largest amounts of remittance money sent back to their native country from the U.S. This is because they are able to send money back home in greater quantity and more frequently than ever before.
There are several ways to transfer money from to China from the U.S. Seventy-five percent of the remittance market is captured by formal service providers, mainly China Post, the commercial banks and rural credit cooperatives, and the remaining 25% is carried home or sent through other channels.
One way in which to transfer money back to relatives in China is through an ATM or debit card. If the recipient is someone trusted it could be a good idea for them to have a bank card linked to your checking or savings account. If you are comfortable with the cardholder having access to money at all times, they would be able to withdraw money from an ATM machine.
If you would rather they do not have access to your account at all times, then a pre-paid debit card is another option. This allows the recipient access to funds only when you have refilled the pre-paid debit card.
Another option when sending money home to China is through a wire transfer with any U.S. Bank. This can often take several weeks to process, as well as cost more than some other options.
A fast and easy way to send money to China is through an online service such as ATM Cash. This allows you to transfer money from your own computer 24 hours a day 7 days a week.
Many of the facilities that deal with international funds transfers to China are based on networks that have expanded, thus making it easier and more efficient to send money to both urban and rural areas in China.
However due to increased fears of money laundering and other illegal activities associated with these international money transfers, the U.S. government has gradually enforced its control over the banking business, stipulating that for money sent internationally, it is not permitted to exceed USD 3,000 per capita/per day, and in case it surpasses the limit, it is necessary to provide a social security card or a valid certificate. International money transfers by check are limited to below 10,000 US dollars.
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