At present, remittance for studying abroad mainly includes telegraphic transfer, money order, traveler's check and international express remittance (such as quick money transfer and Western Union remittance). The money order is the cheapest, but it takes a long time to arrive. The draft is applicable to international students who have gone abroad for the first time and have not yet opened a bank account abroad. Many international students accept money orders abroad. At present, many banks, such as workers and peasants China Construction, CITIC, Shanghai Pudong Development Bank, China Merchants Bank and China Everbright Bank, can draw bills of exchange.
Generally speaking, foreign currency bills only need a handling fee of 0. 1%, ranging from 20 yuan to 250 yuan. When foreign currency cash is used to handle bills, the difference between foreign exchange buying and selling is calculated according to the actual buying price and foreign exchange selling price. But the draft needs to be carried with you, and it will be more troublesome to reissue it in case it is lost. At the same time, payment of bills of exchange needs to be collected in foreign banks, and the collection time is relatively long, generally 40-60 days.
Compared with money orders, telegraphic transfer is safer and faster, which is suitable for international students who have gone abroad and have accounts abroad. However, overseas wire transfer includes two expenses: the handling fee is basically calculated by the bank at 0. 1% of the remittance amount, and the telecommunication fee varies from 80- 150 yuan. For example, the telecommunication fee of BOC: every trip to 80 yuan, Hong Kong, Macao and Taiwan 150 yuan.
International express remittance is faster but the currency is limited.
What should children do if they are in urgent need of funds? "It is best to choose international express remittance business. Whether it is express remittance business or Western Union remittance, the biggest advantage is that the arrival time is short, and it only takes about 10 minutes at the earliest. "
It is reported that the biggest feature of Western Union remittance is that the remittance speed is fast, there is no need to open a bank account, there is no intermediary fee, and paper money and remittance are at the same price. The pity of this remittance method is that the foreign currency that can be handled is limited to US dollars, which is slightly more expensive than ordinary wire transfer, and the remittance fee is charged in several grades. Among them, 500- 1000 USD, and each charge is 15 USD; Remittance of 5000-9000 dollars, each charge is 35 dollars, generally a single remittance can only reach 9000 dollars at most.
At present, Zhejiang Agricultural Bank, China Construction Bank, China Post, China Everbright and many other banks have this business; The procedure of moneygram is also very simple, just provide the payee's name and other information, and tell the payee the eight-digit transaction code of remittance business after remittance. The handling fee of moneygram is charged according to the corresponding grade of the amount, and there is no intermediate bank deduction after remittance. However, it should be noted that the single remittance limit of MoneyMoney is $654.38+$00,000 (excluding), and the cumulative remittance per person per day shall not exceed $20,000 (excluding). MoneyMoney's remittance business in China supports three foreign currencies: pound, dollar and euro. At present, ICBC, BOC, CITIC, Bank of Communications and Xingye can handle it.
Traveler's checks are very convenient and the handling fee is a bit high.
Among overseas remittance channels, traveler's checks are not only widely accepted, but also the most convenient for consumption. Traveler's checks are basically as convenient as cash, and they can be reissued free of charge after being lost, which not only greatly reduces the risk, but also has a high acceptance in many foreign institutions such as shopping malls and hotels, with many fixed denominations to choose from, and there is no expiration date. For the international students going abroad for the first time, the cash equivalent of traveler's checks comes in handy because the amount of cash allowed with them is limited and unsafe.
In addition to the most commonly used US dollar traveler's checks, citizens can also buy traveler's checks in Canadian dollars, euros and other currencies in the bank as needed to avoid unnecessary exchange rate losses caused by local currency exchange. At present, customers can establish diplomatic relations with the five major banks of workers and peasants, and banks that handle overseas financial services such as CITIC and China Merchants Bank can buy them. However, the handling fee for traveler's checks is relatively high. For example, the handling fee for buying American Express traveler's checks currently sold by Bank of China is 0.5% of the purchase amount, and the difference fee is charged for cash remittance in foreign currency; The handling fee paid when purchasing MasterCard electronic traveler's checks is 5 ‰ of the prepaid amount/card. For transfers in the same currency, 0.75% of transfer amount/card; For transfers in different currencies, 0.75% of the transfer amount/card will be charged, plus the bid-ask difference at the time of transaction.