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.

Could you give an indication of how much you are talking about per person (in RMB)

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, 20187 yr by craigOB

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

5 minutes ago, DipStick said:

How many transactions are we talking and how often

Potentially 5-6 different transactions, once per month.

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

yes best ro use wechat

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. 

 

Very hard to connect wechat to a Thaibank, if someone knows away pls let me know ?

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]

worth a try...

https://www.comparetransfer.com/

Edited July 28, 20187 yr by swissman53
tiping mistake