Do not send money to China before meeting the banking system

China’s renminbi, or RMB, and the main unit is the yuan. You should know that banks are not used as widely as they are here in the United States, and many people do not even have a bank account at all. If you do not like dealing with banks, you will find them easy to avoid in China, where many employers, including paying cash. Banking is growing in popularity, but with credit cards and mortgages. If you decide to open a bank account, you need to know how to do it before your arrival, you can choose to send money to China before leaving for maximum comfort. Some banks may be familiar, such as HSBC, with branches in China, but most banks only exist locally. Some of the most popular include the Bank of China, CITIC Industrial Bank and Standard Chartered. In addition, unlike some countries, debit cards are issued to the right when you open an account. ATMs are almost everywhere, especially in big cities like Shanghai, Beijing and Hong Kong. Unlike cash, credit cards and checks are not used very often in China. If you still have a bank account in the United States, your foreign check is probably not accepted everywhere. In fact, once you move, if your friends or relatives try to send money to China to help check, can take up to a month to clean. For this reason, controls are disappointed that the means of obtaining money to China. > Another popular method is to send a prepaid debit card to your current address, then add the money when needed. This is one reason many people keep their U.S. bank open mind when they move because they can send money to China easier this way. The cost is $ 5 per transfer, and you can send as many as you want at the same time. This also means that you can get money for the minutes to get to China not to open a bank account the day of arrival. Choose the method that is most convenient for you. Keep cool and transfer time to the mind is also wise. But in general, know the basic concepts behind the banking system in China can help ease your transition.

标签： Banking, Before, China, meeting, Money, send, System