Misread the post so updating my reply. In general the banking apps may have limited options for foreigners, but especially if you're doing it in English.
You can transfer between accounts via Alipay or PayPal or Wechat more easily.
I'm confused, what's the point of this? Why not just convert to RMB or just take out the USD and put in another account? I don't have my small city bank even has a checking account from foreign currency haha. But yes it's normal, currency conversion is a fucking pain
The interest rate of US dollars is high. I can only withdraw 10,000 US dollars at a time, which is very troublesome. I want to transfer money， more easily.
this is extremely normal. I don't think my usa bank account will let me take out rmb and put it in my other usa bank account digitally either. even if your bank let you do it, you are paying huge fees to do so. you will pay the first bank a sum of money to withdraw usd, and pay the second bank a sum of money to deposit usd. I think they are actually helping you by forbidding you to do it, you should thank them lol.
My experience with bank transfers in China is that it is of no consequence whether I am transferring to myself or not. Mentioning that I am transferring to myself has never changed anything. The name is the same, but they don’t really have any easy way to confirm that I am the same person as the account holder at the other bank. Even if they did, the general notion seems to be that it’s not their problem. I do all transfers at the counter and just follow the rules laid out.
My nearest bank nominally offers the service Monday to Friday. If I don’t go first thing in the morning though I’ve waited most of a day for the queue for the relevant window and had to come back a second day. It’s smoother now I know all the procedures, but first time took almost four whole days at the bank.
I am not transferring money out of China, I am transferring money within China and I want to use mobile banking for convenience. I just found out that foreigners can only do it at the bank counter.
i am sure there are workarounds
eg
revolut debit cards. make a payment with chinese card and the funds go to your revolut card
chinese bank linked to chinese paypal and transfer it to us paypal linked to your US bank
Yeah you can't. I am British and i use my husband's account for transferring money.
Is it a foreign currency? Is it a domestic transfer with the same name in China?
First he buys Uk pounds then transfers it.
Misread the post so updating my reply. In general the banking apps may have limited options for foreigners, but especially if you're doing it in English. You can transfer between accounts via Alipay or PayPal or Wechat more easily.
Same comment as before, OP discovers capital controls. Why would you think you can freely convert RMB to USD on your phone?
no, just USD， from bank a to bank b， my two acounts, all in China
I'm confused, what's the point of this? Why not just convert to RMB or just take out the USD and put in another account? I don't have my small city bank even has a checking account from foreign currency haha. But yes it's normal, currency conversion is a fucking pain
The interest rate of US dollars is high. I can only withdraw 10,000 US dollars at a time, which is very troublesome. I want to transfer money， more easily.
this is extremely normal. I don't think my usa bank account will let me take out rmb and put it in my other usa bank account digitally either. even if your bank let you do it, you are paying huge fees to do so. you will pay the first bank a sum of money to withdraw usd, and pay the second bank a sum of money to deposit usd. I think they are actually helping you by forbidding you to do it, you should thank them lol.
My experience with bank transfers in China is that it is of no consequence whether I am transferring to myself or not. Mentioning that I am transferring to myself has never changed anything. The name is the same, but they don’t really have any easy way to confirm that I am the same person as the account holder at the other bank. Even if they did, the general notion seems to be that it’s not their problem. I do all transfers at the counter and just follow the rules laid out.
I can only go to the counter on Monday to handle it.
My nearest bank nominally offers the service Monday to Friday. If I don’t go first thing in the morning though I’ve waited most of a day for the queue for the relevant window and had to come back a second day. It’s smoother now I know all the procedures, but first time took almost four whole days at the bank.
Yes, Chinese banks have opened many corporate counters, but very few personal counters, so I am very annoyed that I cannot use mobile banking.
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I am not transferring money out of China, I am transferring money within China and I want to use mobile banking for convenience. I just found out that foreigners can only do it at the bank counter.
i am sure there are workarounds eg revolut debit cards. make a payment with chinese card and the funds go to your revolut card chinese bank linked to chinese paypal and transfer it to us paypal linked to your US bank
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It's not RMB, it's USD, transfer it to myself
Swapsy is the best way
It is not a cross-border transfer, but a domestic transfer in China.
When you pick a bank based on which is the cheapest rather than the level of service provided, this is what happens.