[Disclaimer: speaking as an American citizen legally employed in Mainland China. Amounts of money allowed to convert/send overseas may vary by citizenship.]

5 + 1 ways of getting your money out of Mainland China. I’ve tried them all except #5, but many associates of mine have used that method.

OVERSEAS WIRE BANK TRANSFER – IN BANK

Costs: 150 RMB – 230 RMB total [varies by bank, I use ICBC]

1. Add’l costs: Wire Receipt Fee from home bank. [Bank of America charges $15 USD]

Materials: Wire Transfer Form, Passport, Local Bank Card

Info needed:

1. Full name, local address (I just put my district & Beijing city), passport info
2. Amount in USD that you want to send,

• Overseas receiving bank name & SWIFT code (some banks, such as local credit unions do not have SWIFT codes)

1. Overseas receiving bank’s address (choose any address in your home state)
2. Your account number at overseas bank

Steps

1. Go to bank, and tell them you want to send a transfer outside the country.
2. Fill out form (they have an example form at the counter)
   1. You are the Sender & the Recipient
3. Wait in line. 30 minutes to 3 hours. Chinese banks are EXTREMELY, GLACIALLY slow. They fill out, and you sign, A LOT of papers.
4. Wait 24 hours.

Additional, but important notes:

1. Although you can send up to $10,000 USD at one time… you can only CONVERT $500 USD per day. Which means you can…
   1. Go to the bank many times – something I do often bc I’m lazy.
   2. Go to the local tax office to ascertain a certificate proving you pay taxes through your company/place of employment. Also have some proof of current employment. At this point, you can convert as much as you want at one time

 

OVERSEAS WIRE TRANSFER – ONLINE BANKING

Costs: Less than 100 RMB [Varies by bank]

Add’l costs: Wire Receipt Fee from home bank

Info needed: Same as step 1

Steps:

1. First have already converted money inside your bank account’s Forex. Because you are a foreigner, you must physically go to the brick-and-mortar bank building to convert money. Ridiculous, I know.
2. Plug online banking USB into your computer (needs a one-time setup process).
3. Log into online banking.

1. Go to “transfers”. Then “transfers to overseas bank”.
2. Fill out the information as prompted. Your “reason” for conversion can be any of the options – doesn’t matter.
3. Confirm, then double-confirm on your USB. Wait 24 working hours.

Additional, but important notes:

1. Saves money. ICBC online transfers only cost 40 RMB plus the receiving fee your overseas bank charges.

 

PAYPAL TO PAYPAL

Costs: varies by amount

Materials: Same as steps 1-2, except SWIFT code

Info Needed: Same as all info before

Steps:

1. Create a Chinese PayPal account on Paypal.cn.
   1. As far as I know it’s mostly in Chinese, but perhaps I just failed to find the English option.
2. Link your Chinese bank account to it.

• Using a VPN set to a server in your home country, create an overseas PayPal (for me, an USA PayPal account).

1. Log off VPN, so you’re back on Chinese server, log into Chinese PayPal, withdraw from your bank at a service fee of about 4-6%. If you choose USD, it will convert for you.
2. Send to your home PayPal address just as a person sending to another person.

Additional, but important notes:

1. Total costs are nearly equivalent to an at-the-counter bank wire but a little more convenient.
2. Not sure on limits; I’ve only tried $500 – 1000 at a time.

• Might need to be able to read Chinese characters.

 

WESTERN UNION

 

1. Costs: can vary, but usually about 100 – 230 RMB
   1. Add’l costs: Your time finding a bank that definitely offers WU [the signs sometimes lie]. And time is money.
   2. Also need to pay $15 USD in cash to send.
2. Materials: Passport, Cash, Info (especially ID info for extra safety) of receiver
3. Steps:
   1. Fill out form.
   2. Wait in line. This is a Chinese bank.

• Make sure to double-check your info.

1. Add’l info:
   1. Also be sure to have them circle, highlight, etc. the number your recipient needs in order to pick up your money
   2. Common places: China Post Office or China Agricultural Bank

 

SAME ACCOUNT, TWO DEBIT CARDS. [ONE IN CHINA, ONE OVERSEAS]

 

Costs: 5-15 RMB for a duplicate Chinese bank debit card. Postage to mail your debit card. Or ticket for a flight home to give it to a trusted friend/family member.

Materials: Passport and original Chinese bank debit card.

Steps:

1. Go to the bank.
2. Request a duplicate. Tell them just because you want one (they’re so nosy).

• Give it to your friend/family member back home.

1. They can withdraw the money in your home currency for a small fee.

Additional, but important info:

1. Your country must take Union Pay at their ATMs. I know that America, Australia, S. Korea and Malaysia do.
2. Fee varies by ATM, but it seems to be significantly cheaper than bank wires.

• Mailing your card has a high risk of it being stolen. This is China.

 

HUIPIAO 汇票 [TEMPORARILY/INDEFINITELY SUSPENDED

 

1. I’ll post more details if this comes back, but essentially they would write a physical check. You could then use your banking app, such as the Bank of America app to take a photo & thereby deposit the check. It was only 15 RMB. So mad it’s gone!!!! cries a river