HJDS Travel Group

Tag: remit

Know Common Forms of Payment in the Region Before You Transfer Money to China

by on Mar.30, 2011, under China

Many people have never been to Asia, but that shouldn’t prevent anyone from learning how to transfer money to China to kin in need. Even if you live thousands of miles away, you can get an idea of your options before you send any money. After all, remitting currency that your relative cannot use or selecting a dangerous or time-consuming method can ruin your plans of helping them out. Just getting to know the common forms of payment in the area can help you make the right decision.

The official currency of China is the Renminbi Yuan, made up of 100 fen. $1 USD equals about 6.82 Yuan, though the rate changes daily. Currency exchange is typically only available in China, so most travelers and residents returning to China cannot usually find local legal tender before they enter the country. However, one of the greatest aspects about the ability to transfer money to China is that your U.S. money will be converted automatically to Chinese currency in most cases, depending on the service you use.

If you both have an account at a bank that exists in both regions, or perhaps both have access to the same account, you can easily transfer currency to your family. If you have access to their account, it is free to transfer money to China through this option, but if you use separate banking institutions, the fee is typically anywhere from $10 to $45. You should find out from your bank what they charge for this service. If you are lucky, your financial institution could permit you to remit the money for free to a certain financial institution in China, but you usually have to be using a particular type of account that a may cost money in itself.

Credit cards are not quite as standard in China as they are in the United States. However, most banks there do provide debit cards, such as the Industrial and Commercial Bank of China, and most branches of the Bank of China. This means that your relatives likely have decent access to ATM’s. Macau, Hong Kong, Beijing, and Shanghai are especially well-known for their abundance of cash machines. Take advantage if they live in such major areas by mailing them a prepaid debit card. This allows them to withdraw funds from ATM’s for a charge of approximately 10 Yuan, or use it at merchants that accept debit cards. Of course, if your family members live in smaller cities, particularly those in rural areas, you should first make sure they have access to ATMs and nearby financial institutions before taking these routes.

These are the main ways that many people decide to transfer money to China. Trying to send funds before you find out the best way for your recipients could prove to be pointless. For example, sending a prepaid debit card might be the cheapest route in many cases, but it is useless if your relatives have very little access to ATM’s or merchants that accept debit cards, and thus, no way to access their money. A little knowledge about the area where they dwell can go a long way.

Never before has transfer money to China been this quick and easy! Grab all the inside information while there’s still time at transfer money to China. Unique version for reprint here: Know Common Forms of Payment in the Region Before You Transfer Money to China.

Related Blogs

Leave a Comment :, , , , , , , , , , , more...

Send Money to Mexico Through Either a Specialized Offer or a Pre Paid Card

by on Mar.27, 2011, under Mexico

Remitting money to Mexico is a common occurrence in the United States. With over 8 million of this country’s residents having Mexican heritage, it is no wonder that the capacity to send money to Mexico is crucial. When you need to send money back home, you should not have to pay large fees. Doing so regularly can take up not only a lot of time, but also extra funds in fees. Finding substitutes to these fees is crucial if you want to save funds, and locating a bank or special program that provides transfers for free or really inexpensive can be just what you need.

By chance, several popular banks now advertise specialty programs just to help you to send money to Mexico. Chase Bank has Rapid Cash, which allows customers to transmit three different remittances of up to $1500 each every billing cycle. The money is transferred Banorte bank in Mexico, either right into your recipient’s account or to be picked up by them. Considering that most financial institutions without such services charge up to $45 per remittance, you can save a lot of funds this way if you want to send money to Mexico three times or less each month.

Bank of America has a parallel item called SafeSend. As long as you have a personal checking account and enroll in the program, you can send funds for free to your family members. Similarly to Chase, you can send money to Mexico up to three times per billing cycle, up to $1500 each instance. However, the total you can transfer in 30 days is $3000, so be sure to keep that in mind. Additionally, $1 USD equals approximately 13.4 pesos, which you should keep in mind when transferring funds. Just keep in mind that the exchange rate changes a lot, so check it just before you send money to Mexico.

These choices will work if you have to send a lot of funds a few times a month. However, what if you simply need to transfer some funds weekly? The fees may add up. Instead, consider mailing your recipient a prepaid debit card. You could then add funds as often as you like, for any amount you need, for a flat charge of $5. You do not have to have an account with any specific bank, and neither does your recipient. They could use the card at shops for a small charge of about 13 pesos, or they could withdraw cash out of any ATM in Mexico for less than 40 pesos. If they want to avoid charges as much as possible, they could withdraw the money all at once and pay the small fee just once.

You should select the option that works best for you. For one-time payments, or just one transfer per month, a bank could work best if you already have an account there. But if your recipient needs cash regularly and you are not sure of the amount every time, sending them a prepaid debit card could be the smartest move.

For the most up to date information about transfer money to Mexico, This is the only resource you will ever need send money to Mexico. Check here for free reprint license: Send Money to Mexico Through Either a Specialized Offer or a Pre Paid Card.

Related Blogs

Leave a Comment :, , , , , , , , , , , , , more...

Behind HJDS Travel Group Blog

My name is Harry Delgado and I am a full time Internet and Small Business developer and marketer. Over 30 years in the Computer systems development, programming, hardware installations and support. Currently making a living from blogs like HJDS Computer Services , HJDS Investment Group and HJDS BlogBiz. You can connect with me via social media sites at Facebook - LinkedIn - Twitter - YouTube.