How to Send Money to China

If you live in China for a while, chances are you will have to transfer money at some point. The process isn't exactly easy or fun (last time I almost cried), so I hope this post helps to make your experience as painless as possible.

Instructions

1.Contact the Bank of China's U.S. branch (based in New York City) at (212) 935-3101 or online (see Resources). Request that the bank transfer funds through the Global Payment System. Your money will be sent to your Chinese recipient within one business day. Likewise, individuals in China can send money to you in the United States. You will need to mail the Bank of China a certified check or send the money electronically. For electronic transfers, the bank's SWIFT number is BKCHUS33. You may also use the ABA system (#026003269) to send money.

2.Consider using a third-party money transferring service to send money to China. Financial institutions that service China include MoneyGram and iKobo Money Transfer (see Resources). These services function much like traditional money orders, albeit on an international scale. You will need to deposit money into an account with the respective service. Then, you'll be provided a reference number which you give to the recipient in China who can then use the number to collect the money you've sent.

3.Send the money directly to a Chinese bank from your U.S. bank account. Contact the individual in China to whom you wish to send money and ask them for the SWIFT number for the Chinese bank that they use. You will also need the Chinese bank's name, phone number and mailing address. Request that your U.S. bank wire money to the Chinese bank using the information you provide. Due to the international nature of your wire request, your bank may charge you a transaction fee.

4.Write a personal check and mail it to the individual in China. Most national Chinese banks are able to cash and process U.S. checks, though the transaction fee may add significant costs to the process.

Via any US Bank or Credit Union:

(from Lijun's and my experience):

Get the SWIFT code for the banks in China that you parents want to receive your money (You have to be detailed to "branch" in each city or each district). E.g. if you want to wire to a branch of Bank Of China in China, they have a website for the SWIFT code for major cities.

Also, get the name, telephone number, and address of branch of bank. Get your parents' name and account number.

Go to your bank in US and ask them to "wire" the amount of money to your (parents') account in China.

Note:

• the time of the wiring is not bounded. But it usually finishes in a week or two.
• US banks will charge transaction fee for the wiring. Usually 15$~50$ for each transaction, or 0.1% percent of the amount and etc.
• If you do not have an account in a US bank, the bank will probably limit the amount of transaction (e.g. <2000$) and/or limit the payment menthod (e.g. cash only).
• I only tried to send to Bank Of China, but I believe it is also OK to transfer the money to other banks in China, as long as you have the SWIFT code. (Industrial and Commercial Bank Of China should be OK, at least.)

Via Check:

(experience from Gensheng)

You can use your personal check, just like you pay your bill, write a check for your father or mother, put the check in the envelope, mail it
to your parents. Your parents cash your check in Bank of China, for example.

Note:

• the time is about a month or more for your parents to get the amount of money on Bank of China's account (by Xiaoke and Xin's experience)
• The banks in China may also impose some transaction fee. (about 0.1%?)