Have China Bank Account - Best way to transfer or remit

zzxxzzxx

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Hi.

Have read regarding ICBC and BOC dual accounts for ATM withdrawal without fees (on their own ATM).

What other way to best transfer or remit to China's Bank Account?

I have a BOC China Bank Account (under AnHui province).

Will do about $2k to $3k SGD. Bringing Cash Along is kinda troublesome.
 

xiaofan

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Hi.

Have read regarding ICBC and BOC dual accounts for ATM withdrawal without fees (on their own ATM).

What other way to best transfer or remit to China's Bank Account?

I have a BOC China Bank Account (under AnHui province).

Will do about $2k to $3k SGD. Bringing Cash Along is kinda troublesome.

You can go for the remit services (bank or licensed remit service provider) all over Singapore, China Town got a lot. Even in Jurong Point you have at least two. Pretty fast.
 
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jywy2005

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I also opened a bank account using my passport in China. Somehow I have difficulty remitting money over from here. The remittance form requires a local address which I could not supply.

So in the end I continued to withdraw cash from dual currency accounts and depositing it in the local bank account for Alipay and WeChat transactions.
 

badsector

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my friend use DBS online remit service. heard the x-rate not bad.
but can only remit to citizen of PRC.
 

zzxxzzxx

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my friend use DBS online remit service. heard the x-rate not bad.
but can only remit to citizen of PRC.

Oh, that means not applicable to Singaporeans lah......

I also opened a bank account using my passport in China. Somehow I have difficulty remitting money over from here. The remittance form requires a local address which I could not supply.

So in the end I continued to withdraw cash from dual currency accounts and depositing it in the local bank account for Alipay and WeChat transactions.
Local Address can use Hotel? Should be no issue bah.....

I guess if i'm going there, Dual Currency Account will be the best way.....

Else it's doing remittance....
 

reccatan

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I also opened a bank account using my passport in China. Somehow I have difficulty remitting money over from here. The remittance form requires a local address which I could not supply.
So in the end I continued to withdraw cash from dual currency accounts and depositing it in the local bank account for Alipay and WeChat transactions.

May I know how u open a bank account in china?...thank
 

wishaaaaa

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Hi.

Have read regarding ICBC and BOC dual accounts for ATM withdrawal without fees (on their own ATM).

What other way to best transfer or remit to China's Bank Account?

I have a BOC China Bank Account (under AnHui province).

Will do about $2k to $3k SGD. Bringing Cash Along is kinda troublesome.
Hi,

Any idea what is the max daily amount for dual account BOC ATM withdrawal in China ? Tks
 

zzxxzzxx

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I remember the lady mentioned 2k per transaction, daily 10k.
 

mngedo

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Hi guys,

I would like to ask for advice which local bank in Singapore provide no-fees-no-frills transfer of funds from SG to China bank account?

I suppose that if i open a bank account with BOC in Singapore it will have nothing to do with the BOC account in China? Which i would only be able to open when i am there?

Otherwise how does it work if i need to have funds in China to pay for housing deposits? There is a cap on the ATM withdrawal limit.

Thank you !
 

SibehHL

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Hi guys,

I would like to ask for advice which local bank in Singapore provide no-fees-no-frills transfer of funds from SG to China bank

Otherwise how does it work if i need to have funds in China to pay for housing deposits? There is a cap on the ATM withdrawal limit.

Thank you !

No such thing as “no fees” you do TT bank to bank; you get a lousy exchange rate, want good rates, go to people’s park complex remittance houses but got admin fees...

Do your own homework; check bank rates n remittance house admin fees, and decide which is more worthwhile
 

andyglove

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Some banks to banks offer free TT rates if within the same bank. Pretty sure ICBC and BOC offer it free
 

djfunkyt

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I currently wish to transfer sgd to put as rmb in my China bank account (set up using Singaporean ID). However, many banks and even remittance houses say they can't do it cos the they can only remit to China bank accounts created using China National IDs.

Anyone knows of any place that can do the transfer to China bank account which was set up using Singapore ID?

Many thanks in advance!
 

mngedo

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Hi just wondering what is the restriction for the nationality if you will be converting SGD to RMB saving account. What bank do u have in China?
 

SibehHL

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Not sure why you can't remit or TT into your bank account.

I have been doing TT of USD and Euros into my Chinese bank account for years. But note you will receive the money in the foreign currency you transfer, SGD in your case.

Then you convert the foreign currency into RMB using either the bank app or in person. Limit for conversion is the equivalent of USD 50k per calendar year.

I currently wish to transfer sgd to put as rmb in my China bank account (set up using Singaporean ID). However, many banks and even remittance houses say they can't do it cos the they can only remit to China bank accounts created using China National IDs.

Anyone knows of any place that can do the transfer to China bank account which was set up using Singapore ID?

Many thanks in advance!
 

SibehHL

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Did not quite understand your question. Are you currently holding SGD in a Chinese Bank account in China?

If so, the yearly limit for conversion is equivalent of USD 50k. But if you have a Chinese spouse, you may transfer another USD 50k or equivalent of to her account. Means you actually get to convert a total of USD 100k or equivalent into RMB.

Restriction on amount of money and not based on nationality.

Hi just wondering what is the restriction for the nationality if you will be converting SGD to RMB saving account. What bank do u have in China?
 

beanstalk6

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I currently wish to transfer sgd to put as rmb in my China bank account (set up using Singaporean ID). However, many banks and even remittance houses say they can't do it cos the they can only remit to China bank accounts created using China National IDs.

Anyone knows of any place that can do the transfer to China bank account which was set up using Singapore ID?

Many thanks in advance!

I think you will have to use your Singapore bank to do the TT instead of those remittance houses. You will have to provide the account number of your China bank account and other details of that bank.
 

mngedo

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I think you will have to use your Singapore bank to do the TT instead of those remittance houses. You will have to provide the account number of your China bank account and other details of that bank.


Hi all
I have the extact question, when i use Dbs online banking it require me to provide a China ID which obviously I don’t have as i set up my China account using a Passport, does anyone has a solution?
 

beanstalk6

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Hi all
I have the extact question, when i use Dbs online banking it require me to provide a China ID which obviously I don’t have as i set up my China account using a Passport, does anyone has a solution?

Have you visited a bank teller to check how this can be done?
 
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