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Is there anyplace in the US that can/will do this? Banks? I’ve been searching online but can’t find an answer.
Having purchased RMB in Canada, I can tell you that it’s very likely, though I would expect you’d need to find a main branch of your bank to do it. Banks commonly designate particular branches for currency trade, so I’d look for hotline numbers and make inquiries.
Having purchased RMB in Canada, I can tell you that it’s very likely, though I would expect you’d need to find a main branch of your bank to do it. Banks commonly designate particular branches for currency trade, so I’d look for hotline numbers and make inquiries.
Those little kiosks in any airport can change your currency.
You can also do the paypal route. Have 2 paypal accounts, one in China linked to your Chinese bank and one to the US bank. Catch is the 5% fee attached… It adds up when you do large amounts.
There are dudes in banks who can change your RMB to USD. For 2k US i shelled about 12700 RMB. 300 RMB commission to the dude, all crisps US 100 dollar bills!
Those little kiosks in any airport can change your currency.
You can also do the paypal route. Have 2 paypal accounts, one in China linked to your Chinese bank and one to the US bank. Catch is the 5% fee attached… It adds up when you do large amounts.
There are dudes in banks who can change your RMB to USD. For 2k US i shelled about 12700 RMB. 300 RMB commission to the dude, all crisps US 100 dollar bills!
Airport kiosks carry the worst rates of any currency exchange, preying on people who either don’t have the time, or simply forgot to make arrangements to seek an alternative.
Incidentally I’ve found a bank in Chengdu that allows limitless transfer to any currency (bank) for a flat fee of 200 RMB + a further maximum 220 RMB for holding account transfer it it can not be deposited directly to a designated account, though this additional fee can be as little as 30 RMB. I’ve made transfers to both Canada & US, and on each occasion the exchange rate was on par with live forex rates, so there are no hidden rate fees either. The only stipulation is that you must open an account, and present your employment contract stating income, along with a current tax certificate. I will post another thread with the details shortly.
Airport kiosks carry the worst rates of any currency exchange, preying on people who either don’t have the time, or simply forgot to make arrangements to seek an alternative.
Incidentally I’ve found a bank in Chengdu that allows limitless transfer to any currency (bank) for a flat fee of 200 RMB + a further maximum 220 RMB for holding account transfer it it can not be deposited directly to a designated account, though this additional fee can be as little as 30 RMB. I’ve made transfers to both Canada & US, and on each occasion the exchange rate was on par with live forex rates, so there are no hidden rate fees either. The only stipulation is that you must open an account, and present your employment contract stating income, along with a current tax certificate. I will post another thread with the details shortly.
ICBC you can do it online. All you need is an account with them deposit USD into your account, make sure its ‘FOREX’ and not cash. From here, you can transfer online. Fee is 140. If you have cash that is not converted to Forex, then there is a 100 RMB fee to convert it, which comes out to 240 RMB for the fee, no additional fee from China’s bank end. While the bank receiving can have an incoming wire fee. I did this last week and its legit, total fee was about 50 USD (which includes the cash to forex conversion and US bank receiving wire fee). Paypal would charged me 100 for the fees…
Just like anybank, bring your employment contract, income, ect ect… Or you can bring a chinese dude or dudete and they can change up to 5K USD per day. Once you get the money, tell the bank rep to deposit as forex and not cash and from there its easy.
Or just take the non-rmb cash and put it into your fanny pack and not worry about wiring fees/hoopla. These options sure beat the airport exchange rate shops ready to reap on hard earned cash.
ICBC you can do it online. All you need is an account with them deposit USD into your account, make sure its ‘FOREX’ and not cash. From here, you can transfer online. Fee is 140. If you have cash that is not converted to Forex, then there is a 100 RMB fee to convert it, which comes out to 240 RMB for the fee, no additional fee from China’s bank end. While the bank receiving can have an incoming wire fee. I did this last week and its legit, total fee was about 50 USD (which includes the cash to forex conversion and US bank receiving wire fee). Paypal would charged me 100 for the fees…
Just like anybank, bring your employment contract, income, ect ect… Or you can bring a chinese dude or dudete and they can change up to 5K USD per day. Once you get the money, tell the bank rep to deposit as forex and not cash and from there its easy.
Or just take the non-rmb cash and put it into your fanny pack and not worry about wiring fees/hoopla. These options sure beat the airport exchange rate shops ready to reap on hard earned cash.
Quote:There are dudes in banks who can change your RMB to USD. For 2k US i shelled about 12700 RMB. 300 RMB commission to the dude, all crisps US 100 dollar bills!I assume you’re talking about Chinese banks? I’m already in the US. It looks like my options are large banks or the airport.
Quote:There are dudes in banks who can change your RMB to USD. For 2k US i shelled about 12700 RMB. 300 RMB commission to the dude, all crisps US 100 dollar bills!I assume you’re talking about Chinese banks? I’m already in the US. It looks like my options are large banks or the airport.
Not sure if your in DC, but i typed DC money exchange and this company comes up:
Travelex Currency
But yea, hopefully this will help you…
Not sure if your in DC, but i typed DC money exchange and this company comes up:
Travelex Currency
But yea, hopefully this will help you…
Thanks Jerry. I ended up going to a normal Bank of America today and they converted and deposited the renminbi into my account in a few minutes. I had no idea it was that simple…
Thanks Jerry. I ended up going to a normal Bank of America today and they converted and deposited the renminbi into my account in a few minutes. I had no idea it was that simple…
I was in a hurry when I made the conversion at BOA and it turned out that the exchange rate there is really bad. I will check out an airport and see what the exchange rate is like in La Guardia in New York, hopefully it’s better.
How much are the rates? Now its about 6.35 RMB to 1 USD. It went up .12 cents within 2 weeks, aka US strength. If the bank charges 6.8 to 1.. Then thats an issue.
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