james_moat Posted May 30, 2009 at 11:48 AM Report Posted May 30, 2009 at 11:48 AM One thing not mentioned here is the generally lesser exchange rate you'll get at whatever institution for handing over cash in exchange for Renminbi... I learned this last year... best method is: open a foreign bank account, use internet banking for your non-Chinese bank to initiate a foreign SWIFT transfer, then transfer in either USD or GBP. I recently chose GBP as it's doing pretty well at the moment, 11.1 Renminbi to the pound actually, compared to 9 a not so long ago. I get an addition 0.4 to GBP the above way, storing electronically is the answer in my opinion. This relies on you having either someone at home who con complete the SWIFT transfer, or having good internet banking that permits it. I'd recommend the latter, which is really essential if you're to manage your money whilst abroad. Quote
joshuawbb Posted June 12, 2009 at 01:42 PM Author Report Posted June 12, 2009 at 01:42 PM Thanks again for everything, it's really helpful. I think what I'll do for the first step is probably bring some traveller's cheques to be safe instead of bringing cash. Though the internet banking seems a great option, though. I guess I just want to get everything there and settle, with a way my parents can transfer money to me too. Quote
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