craigOB Posted July 27, 2018 Share Posted July 27, 2018 Has anyone had experience doing this? I work for an online teaching company and would like to start teaching a few students independently. However, as many of you probably know, transferring money out of China is difficult and expensive for Chinese people. I understand Bangkok Bank, Krungthai, and maybe a few others are doing UnionPay cards now, which perhaps could make it much easier for Chinese customers to transfer money to a Thai bank account. Anyone have experience with any of this? If so, what are the fees for Chinese customers using UnionPay? I’d appreciate any insight at all on this. Link to comment Share on other sites More sharing options...
DipStick Posted July 27, 2018 Share Posted July 27, 2018 Could you give an indication of how much you are talking about per person (in RMB) Link to comment Share on other sites More sharing options...
craigOB Posted July 27, 2018 Author Share Posted July 27, 2018 (edited) 1 hour ago, DipStick said: Could you give an indication of how much you are talking about per person (in RMB) About 750-1500 RMB (per transaction) to be transferred from Chinese bank account to my Thai bank account, though could do larger transfer at a time if it’s more cost effective. Edited July 27, 2018 by craigOB Link to comment Share on other sites More sharing options...
DipStick Posted July 27, 2018 Share Posted July 27, 2018 6 minutes ago, craigOB said: About 750-1500 RMB (per transaction) to be transferred from Chinese bank account to my Thai bank account, though could do larger transfer at a time if it’s more cost effective. How many transactions are we talking and how often Link to comment Share on other sites More sharing options...
craigOB Posted July 27, 2018 Author Share Posted July 27, 2018 5 minutes ago, DipStick said: How many transactions are we talking and how often Potentially 5-6 different transactions, once per month. Link to comment Share on other sites More sharing options...
DipStick Posted July 27, 2018 Share Posted July 27, 2018 1 minute ago, craigOB said: Potentially 5-6 different transactions, once per month. I don’t know if this helps but 5000 RMB can be hand carried out of china, another way is to speak to your students and discuss Wechat banking Link to comment Share on other sites More sharing options...
terry Meltham Posted July 28, 2018 Share Posted July 28, 2018 yes best ro use wechat Link to comment Share on other sites More sharing options...
thesetat2013 Posted July 28, 2018 Share Posted July 28, 2018 20 hours ago, DipStick said: I don’t know if this helps but 5000 RMB can be hand carried out of china, another way is to speak to your students and discuss Wechat banking actually by law 20,000 rmb can be legally carried out if China... if this Op has any sense he will have a Chinese bank account already. This way his clients can make their small deposits into the China bank and he can withdraw using an atm machine. I do not think the cost for transferring money into a Thailand bank is costly. Comment that it costs alot for chinese is ridiculous. However, transferring 5 to 6 times a month such small amounts is not worth the effort... Best to build up a larger sum and make lump transfers.... Which you will need to have done by a Chinese person... If you do not have the correct visa and ability to show you are paying tax, it's impossible to move money out of China alone. Link to comment Share on other sites More sharing options...
peterb0576 Posted July 28, 2018 Share Posted July 28, 2018 Very hard to connect wechat to a Thaibank, if someone knows away pls let me know ? Link to comment Share on other sites More sharing options...
roger waters Posted July 28, 2018 Share Posted July 28, 2018 There is a very very cheap internet system and you pay 50/70 less taxes than the banks, and you can send a lot of money from your account to the Thai one, I use it for many years without problems and save time and money my contact [email protected] Link to comment Share on other sites More sharing options...
swissman53 Posted July 28, 2018 Share Posted July 28, 2018 (edited) worth a try... https://www.comparetransfer.com/ Edited July 28, 2018 by swissman53 tiping mistake Link to comment Share on other sites More sharing options...
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