The long Awaited China Construction Bank post.

I've been telling my Beijing friends that I was going to make a blog post about sending money from China to America for quite sometime. I get stuck in conversations about sending money once or twice a month and it get's a bit exhausting. It's not terribly complicated but its' important to have the right information.
As expats it's often a mystery how to send money home. The obvious choice is Western Union but when suggested we are bombarded by other Foreigner's wails about the cost. Not that many can tell you how much it is just that it's "expensive" and "don't do it." Well this expat is not familiar with how to use WU and has been the terrified passenger on a flight with loads of cash hoping no one snatches it and that she can get a good rate at home. I have a lot of student loans and other bills that have been a constant annoyance since landing in the Middle Kingdom and it has been a long painful journey figuring out how to get it home. I think the first time I sent an envelope with USD in a huge Christmas box!!!! It got there but I wouldn't recommend it as a regular method. My hope is that others can benefit from my blood sweat and tears and that I can shorten conversations about sending money by 10.

WARNING!!!!
I am not an expert!! I send money about twice a semester and I do it in this way. I can only convey my experiences but you'll have to use your noggin a bit and see how it goes. Things in China are changing all the time and this information could quickly become obsolete.

If you are wanting to send money to countries other than America I can't help you but the best way to find out is to research which banks are in that country and see if they have a relationship with any bank in China.

Okay so let's get into it:
The Basics: China Construction Bank and Bank of America have a relationship so sending money between them is basically like transferring from one account to another.

You will need:

• A bank account at Bank of America  
• An account at China Construction bank and card associated with that account 
• Your Passport 
• Bank of America Swift Code: BOFAUS3N
• The address of the Bank of America where you bank (I just use a random one as there isn't one in my home state.) 
• Your address in China and in America. 
• RMB to exchange (it can be in your account) 

HOW MUCH CAN I SEND?
If you do this process you can sent $2000USD twice in a calendar month. I've had quite a few people say they were told only $500 but in those cases the teller usually thinks they are trying to get cash. If you run into this problem try a different teller or a different branch. If you keep running into this problem the regulations may have changed.

When To Go?
You must go on a week day before 3pm. I've occasionally been able to do it later but they never do it on a weekend. 
Be Prepared To WAIT!

Filling Out the Form:
I had to have a lot of help on this point the first few times I did this and I still can't write my address in Chinese but it gets easier. I will eventually post pictures of the form so you can know better how to fill it out. for now this is the best I can do. They all have English on them under the Chinese but it is a bit confusing. Probably something about the translation. Here's the info kinda in order:

• Amount of USD to be sent in numerals 
• Amount of USD in Chinese complicated characters 
• Your account number at CCB 
• Your address in China written in Chinese 
• Your Passport number 
• BoA swift code 
• BoA address 
• BoA account number you are sending to in the Sates 
• Name and address associated with the BoA account 
• Your name and Phone number 

If you mess up any of the information it could cost you 180RMB for the international fax! When in doubt leave it blank. 

The Process:
Get a number for exchanging money. I usually try to communicate to the lobby attendant that I want to send money so that I can start working on the form while I wait.

Step 1: Exchange money from RMB to USD
You want to exchange digitally!!!
Just have them change the RMB in your account to USD. If you are depositing money have them do that first. This is hugely important as there are regulations on how much cash a Chinese bank can give out in a month and large fees for getting physical bills.
In my experience a Foreigner can exchange digitally up to $10000 USD in a day (possibly monthly.) To get physical bills only $500USD at a time. I've never been charged a fee for this exchange and I get the posted rate for the day.

Step 2: Send the money.
Hand them your filled out form and they will give you the blue carbon copy back when they've sent it.

You should see the money in your account as quickly as 18 hours and as long as 4 days (depending on US and Chinese holidays.)

Okay so that's the long and the short of it. I will probably write a second post after I send again with pictures and details.
If you have any questions I'll try to answer them in the comments.

Happy Sending
Rachael