Thanks for watching! If you have any questions or think I left anything important out of this video, feel free to leave a comment and I'll do my best to answer any questions you might have. If you enjoyed this video, please leave a like too! Thank you!
Can you make a video or get more research how an oversea chinese person can buy real estate in China right now? So many oversea chinese people like us in USA are trying to go back and retire in China. How would the money transfer work from USA to China etc?
The current procedures for people transfer money out of China still seem to be quite complicated. I hope with the introduction of digital RMB, the government would let the transfer of money in and out of China become easier and more user friendly.
Yeah, it is a little bit complicated for foreigners, but if you get all of the documents ready and turn up to the bank with everything in hand, it can be done - I guess the most time I spent was researching how to do it!
@@SOPPI_srn Yes, the flow of money is really a matter of national security issue. I realize the restrictions of money in and out of China is to prevent speculators from creating shocks like what Soros did to the developing countries. Therefore I hope the introduction of digital RMB can eliminate speculation but promote a user-friendly payment system at the same time. Then I can use RMB more easily either within or outside China.
@@SOPPI_srn yeah, apparently it is much easier these days. I know that online banking within China is a breeze… and a lot of things at physical banks are also automated these days
i think all govts take money laundering seriously. several years ago, I transferred cad$40000 to my daughter in London, UK. the bank asked me why i transferred so much money. i was surprised because i did not think cad$40000 was that much. the bank said it was because it was a private personal transfer and they kept all necessary paper trails. so i guess a normal business transfer would be much easier. anyway, it seems that the Chinese govt policy is more cumbersome. love from canada.
That is true. Which is why I suggest that people keep records of tax paid on any money transferred just in case the bank you are sending the money to has any questions, or depending on the tax laws in your home country. It can be a little complicated, but as I said, if you bring everything you need, then you can get it done! Thanks for your comment
transferring money INTO china is very easy. transferring OUT is very complicated. and getting harder by the year. It is not so much about money laundering as it is simply about capital control. basically they want to make it very difficult for people to get money out. which is why the rmb will alway be an obscure currency. compared with JPY which is easily convertible and readily available. easy transfers
Fair enough! I also have experience receiving money in China, and it is a different process entirely - maybe that might be a good topic for a future video
Is it correct that you can only transfer money out in USD? Do you have any additional tips for paying into British Bank accounts? Is it possible to go straight to GBP?
Good video. Sounds like a lot of preparation is needed. Paying commission to services such as Western Union might be worth it... And I do believe it's legal as well, isn't it?
Hi brother, could you please tell me if my account has other transactions record as well apart from tax paid salary but I’m willing to transfer only my salary amount which I have paid tax on, will it still cause trouble ?
I highly recommend people who want to transfer money to Australia having a bank account of Bank of China, whatever you’re Australian or Chinese... it has the lowest exchange rate than other Chinese banks either Australian banks.. I used CBA to transfer my living cost before, 1000 AUD, it cost me 10 AUD for processing fees, and waited for one week for the transactions.( I almost being starving😂) Then I opened a BOC account in their Australian branch, things went much easier than before and cost me less... BOC Australia offers domestic banking service （include bpay and free interbank transfer for limited number） as much as CAB, ANZ and nab within Australia, but it also link to BOC China as well.. I used it to pay my tuition fees always, cheaper and more simple than any other methods, hope people related to Australia know it... right, BOC Brisbane branch is in Queen Street, close to the Anzac monument square, if my memory doesn’t get wrong..
When china tightening money transfer illegally, then should help Australian local young people buy their first property easier😂. But house prices still rising a lot, can not blame chinese because multiple reasons caused house prices going up even without foreign investment. Negative gearing, tax benefits is one of the big reasons.
I wonder whether or not the recent tensions have turned Chinese buyers away from Australia... Yeah, I heard that the cost of a lot of things is going up, including second-hand cars
@@Hazza_Harding I think the cost of car going up maybe lot more people choose to drive than public transport due to covid. Purchase new car is lot more expensive and dealer does not bother to bargain with you, totally different from last year, buyers were offered lot of discount and push to sell 😂. Got my new car last year, 1rst lock down, really good deal and lots add on with no extra cost
@@user-xt7vj5cn5e Really? Wow, things really have changed. I'm glad to hear you were able to get a good deal on a new car last year. I wonder how long the prices will remain high? What is your prediction?
Great advice for those foreigners working in China👍
Thanks, Peter, I hope the video helps someone out there!
Thanks for watching! If you have any questions or think I left anything important out of this video, feel free to leave a comment and I'll do my best to answer any questions you might have. If you enjoyed this video, please leave a like too! Thank you!
china is a non-free country - we know it.
Pika pikachu is behind you 😂
As always!
Leaving a footprint, two thumbs up.
Thank you for the positive feedback, mate!
Can you make a video or get more research how an oversea chinese person can buy real estate in China right now? So many oversea chinese people like us in USA are trying to go back and retire in China. How would the money transfer work from USA to China etc?
Sure - I will look into that for you, that could be a good topic for a future video! Thanks for the suggestion.
maybe asking Gweilo60?
Great video thanks.
You're welcome! Glad you enjoyed it. Thanks for commenting!
It is good information.. I will keep it as a record for future use in case my friends need it. Thanks !!!
Great! You're welcome! I hope it comes in handy one day
This is really helpful, thanks a lot! Love from Guangzhou too 🙏
Thanks for the information !!! Have a nice weekend !!!
Thank you, hope you have a great weekend too!
thank you dear, i will leave china in like two months and i was looking for a video like this one
Very informative !
Thank you for the feedback, and for commenting!
This is really useful, thank you very much, I finally know how it can be done, not that I have much to transfer out though LOL.
I'm glad it was helpful! Thank you for the feedback
The current procedures for people transfer money out of China still seem to be quite complicated. I hope with the introduction of digital RMB, the government would let the transfer of money in and out of China become easier and more user friendly.
Yeah, it is a little bit complicated for foreigners, but if you get all of the documents ready and turn up to the bank with everything in hand, it can be done - I guess the most time I spent was researching how to do it!
It is quite complicated but I think the government is doing work on it these years.
@@SOPPI_srn Yes, the flow of money is really a matter of national security issue. I realize the restrictions of money in and out of China is to prevent speculators from creating shocks like what Soros did to the developing countries. Therefore I hope the introduction of digital RMB can eliminate speculation but promote a user-friendly payment system at the same time. Then I can use RMB more easily either within or outside China.
@@SOPPI_srn yeah, apparently it is much easier these days. I know that online banking within China is a breeze… and a lot of things at physical banks are also automated these days
Very thorough
Thanks mate, appreciate the feedback
i think all govts take money laundering seriously. several years ago, I transferred cad$40000 to my daughter in London, UK. the bank asked me why i transferred so much money. i was surprised because i did not think cad$40000 was that much. the bank said it was because it was a private personal transfer and they kept all necessary paper trails. so i guess a normal business transfer would be much easier. anyway, it seems that the Chinese govt policy is more cumbersome. love from canada.
That is true. Which is why I suggest that people keep records of tax paid on any money transferred just in case the bank you are sending the money to has any questions, or depending on the tax laws in your home country. It can be a little complicated, but as I said, if you bring everything you need, then you can get it done! Thanks for your comment
transferring money INTO china is very easy. transferring OUT is very complicated. and getting harder by the year. It is not so much about money laundering as it is simply about capital control. basically they want to make it very difficult for people to get money out. which is why the rmb will alway be an obscure currency. compared with JPY which is easily convertible and readily available. easy transfers
love ur shirt!haha
Thank you!
Thanks for sharing, this can be useful in the future. But right now the opposite way would be more relevant to me. :D
Fair enough! I also have experience receiving money in China, and it is a different process entirely - maybe that might be a good topic for a future video
@@Hazza_Harding ok, I'm looking forward to that video. Smile
Thank you so much, this video has been a huge help. You legend 🙌❤️
No worries mate, glad I could help!
This was actually a very useful video
Thank you! Very glad you thought so, much appreciated!
Thanks. Very helpful.
Is it correct that you can only transfer money out in USD? Do you have any additional tips for paying into British Bank accounts? Is it possible to go straight to GBP?
Very informative thanks
You’re welcome! Thanks for watching!
Good video. Sounds like a lot of preparation is needed. Paying commission to services such as Western Union might be worth it... And I do believe it's legal as well, isn't it?
Very true... but I haven't attempted that before. Maybe I should try it out one day
but Western Union still needs to check your personal details. it's like they do the work for you, and it costs more time than do it yourself
Greetings gentlemen
Thank you for watching!
Hi brother, could you please tell me if my account has other transactions record as well apart from tax paid salary but I’m willing to transfer only my salary amount which I have paid tax on, will it still cause trouble ?
Now I need to find a rich uncle to transfer his money to me 😛😅🤭
Hahaha! If you do, could you share some with me? lol
太简单了，我觉得可能比你从美国转钱去其他国家更简单。转钱去澳洲账户很简单 1.输入你要转钱去的国家 2. 找到对应的银行 3. 输入对应银行的bsb和acc。4.输入金额 点确定就完了。 不过澳洲的银行收手续费是真的狠。
@zhmz888 一般生活还是够用了 反正一年也只有5万美元
我們外國朋友還是需要親自到銀行去辦理這些
@@Hazza_Harding Barclays网站上办理银行业务，很麻烦，有的时候甚至还要等国际信件。最近回英国挺危险的，没法自己回去办啦。
@@SOPPI_srn 辛苦了！希望疫情快点结束，祝您事事顺利！
Hi Harry, Thank you for sharing! I wish I have lots of money to send out from China... LOL.... But I have no money🤣🤣🤣 And I don't live in China....
Haha, well, never say never! Maybe one day this video might come in handy for you too!
Good tips
Glad it was helpful!
nice
Sound advice.
Thanks again for the support
I highly recommend people who want to transfer money to Australia having a bank account of Bank of China, whatever you’re Australian or Chinese... it has the lowest exchange rate than other Chinese banks either Australian banks.. I used CBA to transfer my living cost before, 1000 AUD, it cost me 10 AUD for processing fees, and waited for one week for the transactions.( I almost being starving😂) Then I opened a BOC account in their Australian branch, things went much easier than before and cost me less... BOC Australia offers domestic banking service （include bpay and free interbank transfer for limited number） as much as CAB, ANZ and nab within Australia, but it also link to BOC China as well.. I used it to pay my tuition fees always, cheaper and more simple than any other methods, hope people related to Australia know it... right, BOC Brisbane branch is in Queen Street, close to the Anzac monument square, if my memory doesn’t get wrong..
That's good advice. Thank you for sharing it with us! Much appreciated!
I like this video for pikachu.
Pikachu just asked me to thank you for her!
@@Hazza_Harding aww shucks.
or just find a Chinese friend, give it the money, and he will send it, that's it.
When china tightening money transfer illegally, then should help Australian local young people buy their first property easier😂. But house prices still rising a lot, can not blame chinese because multiple reasons caused house prices going up even without foreign investment. Negative gearing, tax benefits is one of the big reasons.
I wonder whether or not the recent tensions have turned Chinese buyers away from Australia... Yeah, I heard that the cost of a lot of things is going up, including second-hand cars
@@Hazza_Harding yes, you are right, price for properties still gone up a lot. Plus universities are struggling.
@@user-xt7vj5cn5e That is sad to hear... I hope that everything picks up sooner or later
@@Hazza_Harding I think the cost of car going up maybe lot more people choose to drive than public transport due to covid. Purchase new car is lot more expensive and dealer does not bother to bargain with you, totally different from last year, buyers were offered lot of discount and push to sell 😂. Got my new car last year, 1rst lock down, really good deal and lots add on with no extra cost
@@user-xt7vj5cn5e Really? Wow, things really have changed. I'm glad to hear you were able to get a good deal on a new car last year. I wonder how long the prices will remain high? What is your prediction?
Thanks mate, I'll send you my bank details so you can start transferring all that money you're trying to offload.
Hahaha!! Send away!
if you have a Chinese bank account you can transfer foreign currency out of China without going to the branch.
Yes, I did try, but wasn't able to complete the steps without a Chinese ID card, which is why I had to physically go to the bank.
Quick question: How do you legally criticize the CCP?
Via the correct channels
How a out western union?