Travel Reference
In-Depth Information
to a foreign account on your behalf, but you will be chipping out of their annual ceiling of
US$50,000. Make sure you call ahead to find out exactly which branch you need to go to,
as not all branches offer this service. You don't want to be standing in a line for an hour just
to be told you're at the wrong place.
Western Union ( www.westernunion.cn ) offices are found throughout the city, located
in the Postal Savings Bank of China, Agricultural Bank of China, China Everbright Bank,
Shanghai Pudong Development Bank (SPDB), and China Construction Bank. You'll need
to take your passport, and the maximum daily transfer is US$500.
You can fly your cash out of the country, but make sure you know the limit. You can
legally carry up to US$5,000 or the equivalent in another currency, or up to RMB20,000
out of Beijing without needing to declare it at customs. If it exceeds this amount it can be
confiscated. Also be aware that rénmínbì isn't freely exchangeable outside of China, and it
might be difficult to change back home. Hong Kong is the easiest place to change rénmínbì,
but exchange rates outside of China are sure to be a downer.
Alternative methods include using a Paypal account. One method is to establish a new
Paypal account in China connected to your Chinese bank account, and the other is to send
a payment request to your (Chinese) self and then pay yourself with a Chinese credit card.
There is also the option to simply withdraw money at an ATM in your home country using
your Chinese UnionPay bank card. UnionPay ( http://en.unionpay.com ) has extensive rela-
tionships with banks around the world, such as the National Australia Bank, Bank of New
Zealand, and Bank of Hawaii, as well as non-bank-specific ATM networks. You can simply
go to these ATMs in your home country and withdraw money with your Chinese card.
UnionPay debit and credit cards beginning with 62 and debit cards with 9 can all be used to
withdraw money from ATMs in the United States. In fact, about 90 percent of all ATMs in
the United States accept UnionPay cards. So, even if they don't carry the UnionPay logo,
it's worth having a go. Withdrawals with UnionPay cards in the United States are based on
the RMB exchange rate of the same day. Daily transactions are limited to the equivalent
of RMB10,000 in whatever currency you are withdrawing; however, additional limitations
may be imposed by the specific Chinese bank that your card belongs to. For exact details on
this you will need to contact your Chinese bank. There will be an additional fee of around
US$1.50-5 per transaction. The bank that you are using in your home country may have its
own charges applied, so again you will need to check. ATMs at Citibank, Chase Manhattan
Corp, Wells Fargo Bank, and United Commercial Bank in the United States, however, will
not charge these fees. Being able to use your UnionPay card outside of China is something
to keep in mind when simply holidaying as well. Before you leave China, check which
Search WWH ::




Custom Search