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Transfer money from China
ceewash
Posts: 1,378 Forumite
Can anyone help? My son is working in China and has been contacted by Student loan about his earnings and he will probably have to start repaying his loan. He has a Chinese bank account for his wages. How does he transfer money back to a Uk bank(First Direct) without huge charges. Or can he set up a direct debit from the Chinese account. Thanks
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Comments
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Which Chinese bank? If HSBC then transferring to First Direct should be easy and fee-free, but he'll lose out on the exchange rate.
His best bet would be to try and find a currency broker that can accept deposits from Chinese banks, e.g.
https://www.fxcompared.com/money-transfer/China-UK?amount=10000&aDir=0&bType=1&ref=filter0 -
His Chinese bank is called China merchants Bank. How does he deposit into a currency broker? Is it all done on line?0
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Can anyone help? My son is working in China and has been contacted by Student loan about his earnings and he will probably have to start repaying his loan. He has a Chinese bank account for his wages. How does he transfer money back to a Uk bank(First Direct) without huge charges. Or can he set up a direct debit from the Chinese account. Thanks
Paypal by linking the Chinese bank card to the PayPal account, loading the wallet and then sending to the recipient or withdrawing to UK bank account. Expensive fees though.
SWIFT transfer?0 -
Trying to avoid expensive fees.0
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