Encyclopedia of entry and exit channels and methods of personal consumption-level funds (excluding extra-large capital flows and enterprise-level cases)

Original link: https://www.blueskyxn.com/202206/6134.html?utm_source=rss&utm_medium=rss&utm_campaign=%25e4%25b8%25aa%25e4%25ba%25ba%25e6%25b6%2588%25e8%25b4%25b9% 25e7%25ba%25a7%25e8%25b5%2584%25e9%2587%2591%25e5%2587%25ba%25e5%2585%25a5%25e5%25a2%2583%25e9%2580%259a%25e92581%2593%25e4% 25b8%258e%25e6%2596%25b9%25e6%25b3%2595%25e5%25a4%25a7%25e5%2585%25a8-%25ef%25bc%2588%25e4%25b8%258d%25e5%258c%2585%25e5%2590 %25ab%25e7%2589%25b9

个人消费级资金出入境通道与方法大全 (不包含特大资金流和企业级案例)

Classification

Generally speaking, there are two types of outbound modes.

  1. straight out (in)
  2. Non-straight out (in)

The difference between whether it is straight out (in) is whether there are legal currency funds to directly conduct cross-border financial activities

  1. Typical direct outflows include international wire transfers/checks/ATMs of banks, deposits and withdrawals of remittance/collection/payment platforms, and physical transportation of cash/banknotes
  2. Typical non-straight out transactions, gift cards/cryptocurrency and other cash equivalents, multi-currency swaps

Detailed explanation

Bank International Wire Transfer

Generally speaking, it is necessary to purchase foreign exchange, fill in the form, and apply at the mobile banking or branch counter before sending. This operation is limited by the “50,000 foreign exchange purchase convenience quota”, and the transaction may be intercepted, more proofs, and declarations are required. related news, etc. Illegal foreign exchange purchases are illegal (including but not limited to borrowing and purchasing foreign exchange quotas, overseas investment and wealth management)

Fees are generally at a high level, especially when the amount is small. According to the official website of Bank of China https://ift.tt/08KMirb

Bank of China’s wire transfer is 1‰ of the remittance amount, with a minimum of 50 yuan per transaction and a maximum of 1,000 yuan per transaction, plus telecommunication fees.

According to relevant information on the Internet, the telecommunications fee is about 80~120 yuan. If the remittance is 3000USD, the handling fee is about 50+100 yuan, and then the handling fee of the transit bank and the receiving bank is about 0~60USD.

If you receive an overseas wire transfer, it depends on whether the sender has received the money (usually 0~35USD) and whether there is an intermediary bank (usually 0~35USD). Last time I used Revolut to send USD Swift to Bank of China, the whole process is free, just need You can settle foreign exchange with no handling fee on the Bank of China app

In addition, banks in mainland China are generally very sensitive to the amount and object of the international wire transfer deposits and withdrawals of Chinese residents, and will generally intercept all BP/C transfers (that is, personal and commercial remittances).

Summary: International wire transfer is suitable for a formal, legal, open and easy-to-check fund deposit and withdrawal method, and has advantages in declaration and settlement. However, the small cost is too high, and it is generally suitable for medium/large funds. At the same time, it is very difficult for many beginner players to initiate a wire transfer, because they may not have the ability or account to initiate an international wire transfer.

Please refer to the actual demonstration of international/overseas bank remittance to Bank of China bank account through SWIFT international wire transfer

Bank International Cheque

Fees are generally at a high level, especially when the amount is small. According to the information on the official website of Bank of China, Bank of China is 1‰ of the remittance amount for bill remittance, with a minimum of 100 yuan per transaction and a maximum of 1200 yuan per transaction.

The checks issued by Chinese banks generally need to be processed at the counters of major US banks. Mobile check deposits generally require US dollar checks (but mobile checks are provided in PayPalUS and many US physical/digital banks.) Chinese Checks may not be eligible (unless drawn from a Chinese bank in the US).

For overseas cheques, clear collection is required in China. Taking Bank of China as an example, the collection amount needs to be 1‰, with a minimum of 50 yuan per transaction and a maximum of 1,000 yuan per transaction.

Summary: Draft remittances are not suitable for funds outbound, and are generally limited to the collection of overseas funds in mainland China by clean bills.

bank ATM

Please refer to the experience sharing and summary of the use of international non-UnionPay cards + ATMs in mainland China

Generally speaking, the ATM limit in mainland China is 3000CNY per transaction (some can reach 5K and 10K CNY), and there is no other limit, that is, unlimited. Of course, there is no need for face, real-name verification, registration, etc.

Most ATMs support UnionPay (including UnionPay International), VISA, and MasterCard, and basically also support AE, Discover, JCB, and Diners Club.

If you use a debit card, there is basically no problem. If it is a prepaid card, credit card, or ATM card, please refer to the actual situation. Some will refuse to withdraw cash and charge cash fees.

Generally, you can choose debit cards such as Schwab/Capital One/Revolut for free cash withdrawal.

You can also choose debit cards such as Velo/WISE/BOCHK/Advcash with low thresholds.

Generally speaking, the combination of fees is cash withdrawal fee + currency conversion fee (some are free, and some are all charged, and the overall percentage is 0~4%)

By default, ATMs in mainland China do not charge cash fees, and the currency conversion exchange rate is subject to the card issuer or card organization.

Cash withdrawals are limited by the card issuer’s limit and risk control. Generally, the limit for US cards is between a few hundred to ten thousand dollars per day, and then there may be a limit per week or month.

However, the physical card is generally required to be inserted into the card, and the virtual card and Apple Google pay are not supported (but there are also very few cases in large cities where Apple Pay can be used to withdraw cash)

Summary: As long as there are enough cards, you can withdraw unlimitedly, the cost is within the controllable range (it can be free), the funds are relatively clean, and the risk is low. Basically only physical cards.

Deposit and withdrawal of remittance platform

Typical cases are WISE, Panda Express, Remitly, Western Union, etc. Relatively speaking, it will be more formal, and the fees are generally much cheaper than wire transfers.

Generally speaking, there are 3 directions: UnionPay card, Alipay, WeChat. Among them, Alipay WeChat cooperates with third-party banks to transfer funds, which is easy to be required to declare and prove, but does not occupy foreign exchange quotas, and they have independent limits. There is little difference between remittance to UnionPay card and direct international wire transfer, and may also be required to declare and prove.

The biggest advantage of this solution is that the threshold is low and the small amount is much cheaper. Take WISE remittance of 3000USD as an example, the current price is compared with Google’s exchange rate, and the loss is about 1%. If it is 300USD, the loss is 1.3%.

Summary: The threshold for use is low, the fees are general, and it is much cheaper than international wire transfers for small amounts.

Deposits and withdrawals from the collection platform

Typical cases include Wanlihui, Sky Cloud, Pingpong, Payoneer, NetEase Cross-border, etc. The main business object is the e-commerce payment and settlement of overseas Chinese mainlanders. Generally speaking, it is necessary to declare the whole process (such as binding the store, and to prove it, and also restricting the source of funds (especially Wanlihui), the rate of settlement in RMB is generally low, Wanlihui is about 0.3%+, and payoneer should be 1% +.

Summary: It is only suitable for serious e-commerce, and it is difficult for other people to use it. Only funds can enter.

Payment platform deposits and withdrawals

Typical cases are PayPal, Skrill, Stripe, etc.

First of all, the main idea of ​​PP is to transfer 2 PP numbers to realize the flow of funds. For example, pay PP from China to PP in the United States, and then withdraw from PP in the United States, and vice versa. However, the withdrawal fee of PP in China is high, and the risk control of PP collection is extremely high. Anyone who blows hard or embarrassingly blows this is SB. If you don’t believe it, just rush it and you’re done. At the same time, even if the redemption is successful, the transaction fee of PP is generally 3-8% (except for some special cases, it can indeed be 0 fee)

Then there is Skrill, which means that you can use mainland China cards to pay, and the funds are directly sent to overseas banks/platforms, similar to N26’s top-up. Skrill can accept VM credit and debit cards in mainland China, but some banks refuse to pay for this merchant. It is known that GF MasterCard is acceptable. This channel requires 3D verification. Although there is risk control, it is not difficult to unlock, and the account ban rate is low. , generally prepare face + ID card + bill with card number + address proof (all support Chinese materials in mainland China) The fee is generally 2.99%. When using Skrill, pay attention to two things, one is remittance (direct card to bank) and the other is wallet (card to wallet, wallet to wallet, wallet to household), remittance is the cheapest, wallet is not cheap, but wallet can Withdraw RMB but not USD. Skrill with mainland Chinese identity supports EUR/USD payment, and there is no currency conversion for the same currency. It is recommended, especially for small amounts. At the same time, there is no fixed fee for skrill remittance, and the threshold is low. It also supports Chinese materials in mainland China, and there is no loss even if the account is blocked. Direct remittance will not swallow money. Currently, remittance pairs are not supported. public account.

Then there is Stripe, which represents the major payment-oriented platforms, such as WorldPay, Ouitrust, Yuansfer, etc. They mainly accept card payment, and some also support Alipay WeChat PP cloud flash payment. The fee is generally 2.9%+0.3USD. Then the user withdraws from the platform to the corresponding account. However, due to the high risk of card payment and other reasons, it generally requires more difficult review and data preparation, which is not suitable for novice users, and can only carry out funds out of the country.

Of course, there is also a special way of playing that merchants in mainland China use overseas funds to make payments to achieve cross-border effects. UnionPay Cloud QuickPass swipe UnionPay foreign cards, etc. At the same time, the derivative gameplay also includes opening a store by yourself or a friend opening a store to realize fund transfer (including but not limited to Alipay HK, Alipay CN, Taobao store, Pinduoduo store, etc.)

Physical transport of cash/banknotes

Generally, Hong Kong and Macau bring cash to transit, subject to quota restrictions, and large amounts must be declared.

cryptocurrency trading

This is a model that has only been available this year. It has great advantages in all aspects. The biggest problem is information asymmetry. There are too many idiots who don’t know how to play. At the same time, the field is full of black and gray.

To put it simply, A buys B and sells it, but A is where you pay and B is where you withdraw your money. If you want to leave the country, you can buy it in RMB in the mainland, sell it in foreign currency overseas and then withdraw cash. On the other hand, considering the problem of money laundering and freezing cards in electronic fraud, it is not recommended to receive RMB in the mainland. Generally speaking, RMB transactions need to use C2C exchanges, or private transactions (such as TG, QQ, WeChat and offline cash). Foreign currency transactions require the use of B2C exchanges and platforms involving currency transactions.

  • Generally speaking, C2C exchange options are: okx, binance, gateio, pexpay
  • Generally speaking, B2C exchange options are: kraken, ftx, okcoin, cexio
  • Generally speaking, the platforms involved in currency transactions [not recommended] include: epay, advcash, paxful, agoradesk

The above can be solved by the ID card/passport of mainland China. If you have overseas documents, you can also consider Coinbase and Cryptocom

Of course, the biggest problem with this method is safety. Whether it is a legal issue or a safety issue, certain considerations are required, especially in the era when a large number of black and gray products are settled.

At the same time, due to the hidden and fast nature of transactions, cases of fraud, running away, theft, loss, robbery, money laundering and running points still occur from time to time.

However, the advantages of this method are price and speed. In theory, the entry and exit of large amounts of money can be completed in a few minutes, and the exchange rate may be better than Google’s real-time exchange rate.

Transactions of gift cards and other cash equivalents

The most common ones are Apple gift cards in China and other regions, Google gift cards, JD E cards, mainland phone bills, fuel cards, Q coins, Apple software, Apple hardware, etc.

The principle is the same as the cryptocurrency trading mechanism, that is, A buys B and sells. For example, using JD.com in mainland China, jumping to WeChat to pay with a foreign card to buy JD.com E-card, and then going to Xianyu to sell the second-hand goods, the transaction process can be realized.

Summary: The loss is difficult to control. Generally speaking, it is a loss, and the loss is a lot, but the operation is simple, especially when it is sold in RMB.

Multi-currency swap

Commonly seen in underground banks and overseas students, commonly known as “knock-on”, it may be illegal, and the risk is at your own risk. But the exchange rate and fees can be good. At the same time, the operation is simple. In simple terms, A gives B currency 1, and B gives A currency 2.

Summary: It’s not necessary unless you have an acquaintance, it’s too risky.

Off topic

Be wary of individuals or groups that conduct profitable publicity in the name of foreign exchange, assisting funds to exit the country, paying, purchasing, remittance, account opening/intermediary account opening, etc.

Especially the following, please pay attention to the risks

  1. Claiming to help you receive foreign currency or cryptocurrency after receiving RMB
  2. Claiming to provide overseas virtual cards and recharge in the form of RMB or cryptocurrency
  3. It claims to conduct RMB-foreign currency pair swaps with you at a fair exchange rate
  4. Claiming to pay your funds in RMB and transfer them to you
  5. When you pay with Alipay and WeChat in RMB, there is a risk
  6. Claiming to charge and at the same time require you to provide documents to open an overseas bank account
  7. Use CBI Wells Fargo Bank, SIB Standard International Bank, etc., which are actually Puerto Rico banks under the banner of the United States
  8. Those who are related to the wealth management and employee accounts of multinational banks such as HSBC, Standard Chartered, CITI, etc. (including but not limited to agency opening and intermediary account opening)
  9. Use high-risk (including but not limited to Advcash, Epay, FTX)
  10. Propaganda without risk control (including but not limited to WISE, Velo, PayPal)
  11. Those with risk control and other restrictions but deliberately silent (including but not limited to PayPal, Swissquote, Dukascopy, HSBC)
  12. Require transactions in the form of third-party payment and purchase
  13. Require you to be first/first
  14. Using anonymous and overseas communication software and platforms
  15. The opponent’s information cannot be found on the Internet (name/certificate/mobile phone number/ID/blockchain address)
  16. Claims to be able to help you with your overseas tax ID and tax resident
  17. Claims to be able to help you open a company and a public account
  18. Alipay WeChat, which claims to be able to buy and sell individuals or businesses
  19. Claiming to need help with WeChat-assisted verification

This article is reprinted from: https://www.blueskyxn.com/202206/6134.html?utm_source=rss&utm_medium=rss&utm_campaign=%25e4%25b8%25aa%25e4%25ba%25ba%25e6%25b6%2588%25e8%25b4%25b9% 25e7%25ba%25a7%25e8%25b5%2584%25e9%2587%2591%25e5%2587%25ba%25e5%2585%25a5%25e5%25a2%2583%25e9%2580%259a%25e92581%2593%25e4% 25b8%258e%25e6%2596%25b9%25e6%25b3%2595%25e5%25a4%25a7%25e5%2585%25a8-%25ef%25bc%2588%25e4%25b8%258d%25e5%258c%2585%25e5%2590 %25ab%25e7%2589%25b9
This site is for inclusion only, and the copyright belongs to the original author.

Leave a Comment

Your email address will not be published.