1. Direct remittance: Hong Kong people can "wire transfer" the relevant amount in Hong Kong dollars or US dollars directly to a domestic bank account through a Hong Kong bank (you must tell the Hong Kong bank the name, address, phone number, and account number of the domestic bank and other information).

When the bank receives the money (usually 3 working days from the date of remittance), you can go to the bank to check, and then make up a purpose for the money (such as a gift from a friend in Hong Kong) Or repay a loan, etc.), you can convert the money into RMB and enter your personal account.

However, the annual remittance cannot be too large. Otherwise, the bank needs to apply for a foreign exchange quota personally from the local foreign exchange bureau. Each remittance will incur approximately HKD 200 in bank and wire transfer communication fees.

2. Transfer cash in RMB: You can find a foreign exchange shop in Hong Kong (they are everywhere in Hong Kong) to convert Hong Kong dollars into RMB (the money exchange shop can have an exchange voucher with the exchange rate written on it).

After that, let them deposit the RMB cash in their hands to the bank counter or ATM (a teller machine that can accept cash deposits) of the local branch of the domestic bank in Shenzhen or any city in mainland China, according to the information provided by the individual. The account number is deposited to the payee. There is no charge for this.

3. Apply for a bank card at HSBC in Hong Kong, then keep the card and password with the withdrawer, and then withdraw money directly from HSBC ATMs in China. However, the daily limit is 20,000 Hong Kong dollars equivalent in RMB, and the single handling fee is RMB25. There is no annual total limit for withdrawals in this way, but the single amount at mainland ATM machines is small, so the handling fee is not low.

Extended information:

Cross-border remittance refers to the business of personal online banking customers conducting foreign exchange remittances within the prescribed limit to payees who have opened bank accounts outside the mainland. Cross-border remittances have both telecommunications fees and handling fees, and the operation is relatively time-consuming.

Since cross-border remittance fees generally have a maximum limit, it is recommended to increase the single remittance amount within the maximum limit as much as possible to reduce the number of remittances and save the telegraph fee for each remittance.

Cash

When international students depart for the country where they study, they should carry a certain amount of foreign currency cash, which is mainly used for early living expenses and small emergency expenditures. The State Administration of Foreign Exchange has relevant regulations on the amount of foreign currency that can be carried at one time. If it exceeds the limit, you must apply for a "Permit for Carrying Foreign Currency Exit" and actively present it to the customs when leaving the country.

The "Permit for Carrying Foreign Currency Out of the Country" can be applied for at the bank, and a handling fee of approximately RMB 10 is charged for each "Permit". Carrying cash can be used for immediate payment and is low-cost, but this method is neither convenient nor safe. Once the cash is lost or stolen, it cannot be compensated. Therefore, in addition to carrying the necessary small amount of cash when studying abroad, it is best to carry large amounts of foreign currency through other methods such as remittances.

Telegraphic transfer

When remitting money to children who are preparing to study abroad or are already abroad, the first thing most people think of is wire transfer, that is, the money is transferred directly through the international inter-bank telecommunications system. The payee’s account.

Telegraphic transfer has many currencies, is safe, fast, and can be transferred around the world. It can be transferred directly to the payee's account, but the cost is relatively high. It is more suitable for people who already know the payee's name, account number and receiving bank. information and have higher requirements on the time and security of remittances.

Generally speaking, the fee for wire transfer is divided into two parts. One part is related to the amount of wire transfer, that is, a handling fee of 1‰, and the other part has nothing to do with the amount of remittance, but is related to the number of transactions, that is, each transaction A telecommunications fee will be charged. The charging standards of different banks vary widely, so customers can make comparisons when choosing a remittance bank.

It should be noted that due to intermediary bank deductions for remittances, and the amount of deductions during the remittance process cannot be predicted, the remitted tuition fees or deposits for studying abroad may not be received in full, affecting visa processing or To register. Therefore, you need to collect as much as possible.

Since remittance fees generally have a maximum limit, the larger the amount you remit each time, the more cost-effective it is. Therefore, if conditions permit, it is recommended to remit more at one time and not to divide it too many times, otherwise You need to pay a lot more handling fees.