The 3 Best Reasons To Transfer Money To China Using A Prepaid Cash Card
Sending funds to China is often vital for myriad reasons
. One of the best excuses to send money to the country is to help out relatives in need. If you have researched the subject at all, you have probably found that many options charge exorbitant costs simply to send money to China. Whether you are against large fees or need to locate a convenient way to remit often with ease, you should consider the best reasons for sending a prepaid debit card.1). There are many ATMs and merchants that accept debit cards in China. Chances are good that you hardly keep cash because you can use your debit card nearly anywhere. It is usually faster and just easier, which is why many retailers in the United States make it a point to accept cards. The same goes for most large Chinese municipalities. If your family member resides in a big city like Beijing, Shanghai, or Guangzhou, there should be no issue locating an ATM. If they reside in a smaller area like Benxi, Lhasa, or Bengbu, you should ask your family member if the shops near them accept debit cards, or if there are many ATMs nearby.
2). An additional benefit of picking the prepaid debit card to send money to China is the fact that the charges for your recipient will be few. If they decide to get cash out of the ATM, it will cost less than 14 renminbi. To use the card at stores, it costs even less, with a charge of less than 7 renminbi each time the card is used, which is approximately equal to $1 USD. They will get the Chinese currency of renminbi from the ATM, not US dollars, so they do not have to deal with extra exchange rate fees when they get money.
3). The fees for a prepaid debit card are also small for you. It costs $5 to send money to the card whenever you want, no matter how much you add at a time. You can add up to $1000 at one time, and the charge stays the same. Most banks request a lot to send money to China, as do money transfer services.
For example, Citibank demands $12 to send $100 to the Chinese location, while HSBC demands about $45. Obviously, a $5 fee each time you send funds is a bargain compared to other options. This is particularly convenient if you have to send funds often, such as once each week. It is also useful if you have to send a lot at once, as some banks base their charges on a percentage of what you send.
There are other methods to send money to China, but a prepaid debit card is one of the most cost effective. In addition, it is known as one of the easiest and fastest. Once your family members get the card in the mail, you can start adding money right away. Most banks charge extra for an immediate transfer, but it comes automatically with a prepaid debit card.
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