Bill of exchange is one of the familiar businesses and the cheapest of these five ways. According to experts in overseas financial services of CITIC Bank, banks only need to pay 1% for bill business. Handling fee, minimum 50 yuan RMB and maximum 250 yuan RMB. Children can go abroad with money orders, and then pay at bank outlets without collecting accounts, but the collection time is relatively long, usually 40-60 days.
2. telegraphic transfer
In contrast, wire transfer is faster, usually 3-5 working days, but the handling fee is relatively high. The minimum amount of each overseas wire transfer of CITIC Bank is RMB 20, and the maximum amount is RMB 65,438+000 in 250 yuan.
3. Traveler's checks
If money orders and wire transfers are troublesome, you can also choose traveler's checks. Traveler's checks have the advantages of small denomination and convenient use. Can be directly consumed in overseas hotels, shopping malls, taxis, etc. Can also be converted into local cash at local banks or exchange institutions, but the procedure is more expensive. Buying in domestic banks generally requires a handling fee of 1%, which is not capped.
4. Credit card
Children have to pay a 0.75% handling fee when they pay abroad. It is also a convenient way for children to get international credit cards abroad, but it is limited by the upper limit of the quota. In non-American countries (such as the euro zone), there is a currency conversion fee for swiping a US dollar card.
5. remittance platform
You can choose MoneyMoney, Western Union remittance and other channels. The biggest advantage of this international remittance channel is its high speed. It usually takes 30 minutes to 1 hour to complete the whole process from the sender to the payee. However, its disadvantage is high cost. Take MoneyMoney as an example, the amount of a single remittance is below 500 dollars, and the handling fee is 13 dollars.
The remittance amount is 50 1-2000 USD, and the handling fee is 18 USD; Remittance of $200 1-5000, with a fee of $25; Single remittance is 500 1- 10000 USD, and the handling fee is 35 USD.
Refer to the above contents: China Economic Net-Five remittance methods for study abroad competition.