Bank transfer to China from UK

[Chinese Learner]

Hi,

I know this is somewhat covered in the living in China section but I wnated to clarify somewhat....sorry for the repeat.

I need to do a bank transfer from my bank account in England to my bank account in China at the ICBC.

I read the section in the 'accessing funds' section and it states all I need is:

a 'swift code and your account no.' and the exact name in your passport.

- Is this still the case?

- Is it cheaper to convert my £ s to RMB at my English bank and then do the wire transfer or is it just better to transfer pounds then worry about changing to RMB later? As far as I understand my ICBC account is just RMB, HK$ and US$.....

- How long does it take?

- How much does it cost?

Thanks!!!!!!!!! Sorry if you have to re-state stuff that's already been said. I just wantg to make sure as i don't want my funds to disappear into the ether!!!!

I will be going to the bank tomorrow to get info. but my Chinese is not that great....

[stephanhodges]

When I went to ICBC to ask about this in January (I think), they told me they don't have SWIFTE codes. They did say there was a way to arrange a "one time" transfer, but I didn't follow up on that, due to time constraints.

Frankly, it was easier to just bring the money in with me. In that case, I made sure to fill out the customs "import" form for cash, so that I have a record of it, and can therefore export the same amount of US Dollars in the future (if I choose to do so).

ICBC does have internet banking, and a Dutch friend who also uses them once told me that he believed he could transfer money from his bank in Holland to/from China, etc. That might be a special case, or it might not really have been possible. I only mention it here in case it helps.

I do know for a fact that Bank of China does have SWIFTE codes, because I have used them in the past to transfer money to China from the US.

[mr.stinky]

(for bank of china anyways) you need the info for the bank you're wiring to, as well as the

info from a correspondent bank in the originating country -- that's the way it works for me

to have my broker wire funds. i just need to send a fax to my broker asking for $xx to

be wired, providing:

Wire to:

Bank Name and Branch

Address

Swift Code

Account Name

Account No

Correspondent Bank:

Bank

Address

Swift Code

ABA No

Telephone

Fax

[pandaxiongmao]

Just google "ICBC SWIFT" and you will get many results for ICBC's SWIFT codes in various locations. If you include the city name where you have your ICBC account in China, you should be able to find the SWIFT code for that location or one nearby.

For Stephen, it may have been that your particular ICBC bank does not have a special SWIFT code, but one nearby does. That has been the case for me transferring money into my CCB account in Hainan.

The money will probably get transferred there in USD. Only Bank of China seems to allow incoming wires in currencies other than USD/HKD. Once in China, you can then convert the money into RMB.

I am in Seoul right now - which has a CCB branch. When I transfer money into my account in China, it has to be in USD, even though it is the same bank I use in China. I can't change money into RMB at the branch in Seoul, so I doubt your UK account would allow you to transfer the money as RMB.

[flameproof]

>a 'swift code and your account no.' and the exact name in your passport.

NO! It must be the EXACT name of the account. Just some people tried to send me money unsuccessfully because my name, First Last was used in the ICBC account as LASTFIRST (and not LAST FIRST).

>Is it cheaper to convert my £ s to RMB at my English bank and then do the wire transfer or is it just better to transfer pounds then worry about changing to RMB later?

I would send £.

>How long does it take?

Typically 24 hours.

>How much does it cost?

Really depending on the bank. £8-25 sounds realistic.

BTW, I just wanted to open a new ICBC account, with a new passport. My new passport number has letters in it - but their computer system does not allow letters. The workaround is, dig out an old passport with an only digits passport number.