Withdrawing from a Chinese PayPal account

[pprendeville]

I've a question about withdrawing from a Chinese Paypal account. Fees are ridiculously high unless you withdraw by cheque which seems to be awkward and takes 4-6 weeks according to the PayPal website.

Why are the fees so high?

Has anyone withdrawn by cheque and if so which Chinese banks are best to bring the cheque to? Suppose you're going to need a bank account with said bank to lodge the cheque into?

What kind of fees, if any, would the bank charge? I don't think many banks would have dealt with PayPal cheques so could create a few issues and may take a few days to clear.

[chestnut818]

I asked Paypal onece, they said ICBC(Industrial & Commercial Bank of China) or BOC (Bank of China) are better, and u need have a bank account in that bank to lodge the cheque.

The Charge fee are different..depend on which bank u use..

[Erbse]

While paypal is convenient its ridiculously expensive. I only use it when there is no other method of payment.

[pprendeville]

Thanks Chestnut.

Why are the fees so ridiculously high though?

[xuefang]

I have a Chinese Paypal account too and now I think why I decided to open a Chinese account in the first place. Like you said, withdrawing the money is very expensive.

I've been thinking of opening another account, A Finnish one this time, as withdrawal to a Finnish bank account seems to be free. And I should be able to transfer the money from my Chinese account to my Finnish account, right? But then again when I transfer the money from my Finnish bank account to Chinese bank account, it also costs a bit. So I'm not sure what is the best option.

Withdrawing from Chinese Paypal to Chinese bank account or having the check also has a problem with my name. In my Paypal account my name is as Firstname Lastname, but in my bank account it is LastnameFirstnameSecondnam_ > Even missing the last letter of my name.

Have anyone succesfully withdrawed money from Chinese Paypal account to ICBC?

[liuzhou]

Why are the fees so ridiculously high though?

Because bankers are having a hard time making ends meet. Don't you read the news?