Friday, August 7, 2009

Using ATM in Shanghai / cheaper than wiring money?

Trying to figure out what would be cheaper:



1. Wiring from a US bank to the Bank of China about $10000 (paying wiring charges of about $31 on the US side and about $15 on the China side - (this is part of the question, what are the charges?)



2. Using an ATM in Shanghai to make several transactions to withdraw the maximum cash amount.



To figure out the answer, one would need to know the wiring costs, ATM use charges, and the exchange rate given at the ATM. To be awarded best answer, please don%26#039;t say %26quot;ask your bank%26quot;; I don%26#039;t feel like dealing with a US bank from China or with a China bank in Chinese.



Thanks!



Using ATM in Shanghai / cheaper than wiring money?emergency loan





Wiring the money seems to be the better route. For ATM transactions, you%26#039;d need to make dozens of ATM withdrawals, at a minimum of $2 per. Why bother?

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