Money Transfer

Posted by danielff (1080 days ago)

Does everyone know how much money i can transfer to a normal foreign student bank account in Beijing.($10,000?, $100,000?) The bank is Bank of China.

Find what you are after in our Beijing A-Z Directory

Posted by shuaige (1072 days ago)

I don't know what a "student account" is, but I have a personal account at ICBC that you can just set up with a 10 RMB deposit and your passport.

I have transferred up to US$40,000 in one go, but was only allowed to convert up to US$10,000 per day without filling out extra paperwork (which is required for SAFE (State Administration for Foreign Exchange) where you must state the specific purpose for transferring larger sums - usually if you are buying a house/car etc.)

Make sure that you are going to use the funds as getting money out of China is not so easy. You will have to document when you transferred it in and/or provide proof of income from which it originated.