At present, bank debit cards can accept foreign currency without opening a foreign exchange account.
Matters related to remittance from abroad to China:
1, bank remittance-telegraphic transfer
General banks can handle various remittance services, such as bill remittance, wire transfer, debit card, credit card and so on. Among them, telegraphic transfer is the most common, and it is also a cross-border remittance service generally supported by major banks at present. It usually takes 3-5 days to remit money in this way, and there may be a delay in some cases (such as holidays).
Wire transfer needs to go to the bank counter to fill in the wire transfer application form, and the information includes:
Remittance currency and amount (Arabic numerals), payee's name and address, payee's bank account number, payee's bank name, SWIFT code or address.
2. Western Union Remittance, a traditional remittance company.
Compared with bank remittance, the biggest advantage of Western Union remittance is that it covers more than100000 agency outlets in nearly 200 countries and regions around the world, which reduces the time for people to queue up at banks to handle business. However, there is a limit on the amount of money sent and received by Western Union, so it is not recommended to use Western Union if it is a large remittance, which is a bit troublesome to operate.
Remittance process of western outlets:
(1), go to Western Union Remittance Cooperation Network and fill in "Money Order".
(2) Submit the completed forms, payment, remittance fees and personal identification documents.
(3) After the remittance is completed, a receipt printed with money transfer control number (MTCN) is received.
(4) Inform the payee of your name, remittance amount, MTCN and remittance destination country/region.
3. Online remittance company-Kaixinhui
Online remittance companies such as Kaixinhui directly remove the transfer link and directly connect the remitter and the payee. As long as your account is verified by real-name authentication, you can easily complete remittance on your mobile phone. Because there is no need to set up offline outlets, the cost of offline operation and maintenance of such online remittance companies is much less, which is why online remittance is much cheaper in handling fees.
Information required for Kaixinhui Internet remittance: the mobile phone number of the host country+China (required for registration), the payee's ID card: Chinese mainland second-generation ID card, bank card: the remitter must hold a debit card); Visa or MasterCard credit card issued by the host bank; The payee can use any debit card issued by major banks in Chinese mainland.