How to remit money from China to the UK
After arriving in the UK, you may find that the original estimate is not accurate enough and you need to remit money from your family; and those who are new to the UK are younger and still have International students who want to fight a protracted war cannot help but ask their parents for additional tuition and living expenses? Everyone studying in England needs to send some more money from home. How to send money to the UK is not a big problem by any means, but because parents may have problems and run into obstacles at home, it really makes many people anxious and angry.
In fact, it is becoming more and more convenient to remit money from China to the UK, and there are more ways to remit money. Let’s take a look at them one by one:
The first way of money: Telegraphic Transfer (T/T)
The English name of telegraphic transfer is T/T, which is officially defined as “accepted by the remittance bank” A remittance method in which the remitter notifies the remittance bank (also known as the paying bank) at the payee's location by means of a telegram, telex or SWIFT, and instructs it to pay a certain amount to the payee? To put it bluntly, it means that your relatives and friends in China remit money to your account in the UK through the bank in the form of electronic transfer.
The prerequisite for using this method is that you must have an account in the UK. The method is to tell you your name, the name of the bank with an account in the UK, address, bank account number, and SWIFT CODE? all accurately. If you have family members, just ask them to go to the relevant domestic bank to handle it.
At present, domestic first- and second-tier branches of Bank of China and some commercial banks such as Industrial and Commercial Bank of China and China Merchants Bank can handle international personal remittance services. Especially for Bank of China, through the Bank of China London Branch, it usually takes 2-3 working days to arrive in the account. Convenient, safe and fast, I believe this is the most widely known and frequently used method of remittance, so we won’t say more here.
Money transfer method two: Draft D/D (Demand Draft D/D)
The English abbreviation of Draft D/D is D/D, which is issued by the remittance bank at the request of the remitter. A remittance method in which the sight draft of the paying bank is handed over to the remitter by its branch or agency, and the remitter sends it to the payee or carries it out of the country, and the designated paying bank pays a certain amount to the payee against the draft. ?.
If you or your family choose to use draft, they can handle the draft at the relevant domestic banks by simply providing your name and the name of the city in the UK. After getting the money order, it will be sent to you by mail or other means. You will go to a local bank in the UK for collection and leave your account number at the same time. It will take about a month for the money to be withdrawn and deposited directly into your account.
Money transfer method three: Mail Transfer (M/T)
Mail Transfer in English is a letter sent by a bank to a foreign payment bank via airmail. A remittance authorization letter is a form of remittance in lieu of a money order. The difference with a wire transfer is that your bank is notified via airmail rather than telex. In this electronic age, Xinhui seems to be no longer favored by people, especially individual users who seem to ignore its existence.
Money route four: International bank card
Everyone in the UK may feel that there are many opportunities to use bank cards to swipe credit cards, but maybe you haven’t noticed, can you? In fact, many places that accept credit cards also accept various domestic bank and international cards.
If you have such an international card, whether it is a domestic international credit card? Such as the Great Wall International Credit Card or an international debit card? Peony Debit Card, as long as your family members in China deposit US dollars, you can hold it. The card can be used to make purchases or payments at designated merchants of many relevant international credit cards in the UK, and no handling fees are required.
Using an international bank card, you can deposit money at home and spend it abroad, which is convenient for both sides; moreover, it is fast and you don’t need to wait when withdrawing money from an ATM.
Therefore, as long as you are not in a hurry to withdraw cash from an ATM, it is more cost-effective to use an international bank card to remit money to pay for living expenses and daily expenses.
If you need to withdraw money urgently, you can also withdraw cash from ATMs with PLUS and CIRRUS logos around the world. Bank of China International Card, but the handling fee is more expensive and there is a limit on the amount. Use is discouraged.
Money? Way Five: Traveler’s Check (Travel Cheque T/C)
Traveler’s check is flexible and convenient to use. It has the characteristics of cash and money order. It has a fixed face value and no With a determined place of use and period of use, you don’t have to worry about loss, theft or damage of the check after purchase. It can be used to pay tuition directly or be used for daily consumption. Considering that the processing fee for international travellers' checks is high and they require a personal signature, they are usually not suitable as a remittance method, but it is another matter if you have the opportunity to return to your home country.
Money? Six ways: Western Union vs. MoneyGram
Most of the above remittance methods cannot be used without a bank? But did you know that there is a kind of remittance? Can I remit money through the post office or even a pharmacy? ?Western Union? and ?MoneyGram? are such a non-traditional method of fast personal remittance.
?Western Union ?Money Transfer and ?MoneyGram?
Money Gram is a non-trade small and medium-sized international personal electronic remittance service, which can be used within 5 - Complete money transfers to any place in 185 countries and regions in the world within 15 minutes.
No credit card, bank account, membership or proof of nationality is required to use Western Union or MoneyGram. Transact in cash in US dollars or British pounds via a dedicated global computer network? Most transfers are completed within minutes and the recipient only needs to provide valid identification to cash out.
The international remittance business launched by Western Union Financial Services Company in cooperation with China Post and Agricultural Bank of China seems to have been favored by people. In China, Western Union's cooperation with the Agricultural Bank of China and China Post has enabled its network to exceed thousands. In the UK, Western Union also has a large number of partners such as banks, post offices, supermarkets, etc. to provide you with remittance services.
Although Western Union’s rival, MoneyGram, is quite similar to Western Union in all aspects, due to the fact that Western Union is preconceived, MoneyGram has It seems to be slightly less popular in terms of popularity, but MoneyGram International Co., Ltd. has joined forces with CITIC Industrial Bank, Bank of Communications and Industrial and Commercial Bank of China to offer lower handling fees and more transaction currencies. Western Union can only remit US dollars from the country. But MoneyGram can remit pounds sterling as a bargaining chip to compete with Western Union in the Chinese market.
?Money?Tour 7: Carry it with you
Having said so much, many people are confused about how big it is, so they think of asking someone to bring money from the country or even going home to pick it up themselves. Especially for those prodigal children who are always trying to find ways to return to the country, they will say: "It is most convenient and free of charge to bring it yourself."
Carrying this oldest method with you has few benefits, but it is troublesome and unsafe to operate. Especially as a citizen of the People’s Republic of China, it is illegal to carry excessive amounts of foreign exchange cash, so we Or do we encourage everyone to use their money in other ways?
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In fact, you should not bring too much luggage when studying abroad, because things purchased in China may not be suitable for use locally; and international students may change schools or other factors. , you may move frequently. Students who are new to other places don’t have many friends, so they have to move a lot of things, which is very difficult. On the contrary, money is more practical. It is best to prepare hundreds of dollars in cash for international students so that they will have money available when the money order cannot be cashed immediately.
The luggage you need to carry is mainly divided into two categories, one is daily necessities and the other is school supplies. Basically, the things you carry in different countries are the same, with slight adjustments based on the climate and environment of the country you are visiting.
Daily necessities generally include: seasonal coats, socks, single tops, casual shirts, jeans, pajamas, underwear, underwear, leather shoes, sports shoes, slippers, a formal suit, short-sleeved shirts, T-shirts, Sun hats, sunglasses, belts, swimsuits, alarm clocks, batteries, chargers, conversion sockets and transformers, thin quilts, sheets/bed covers, toiletries, nail clippers, razors and emergency medicines. In addition, you can bring digital cameras, digital cameras Items such as cameras and MP3s. If you are renting an apartment by yourself, you will also need to bring simple kitchen supplies.
School supplies generally include: laptop (recommended), floppy disk, burnable CD, various Chinese software, such as: window system disk, word, photoshop? two dozen pencils (2B and HB), eraser, ballpoint pen Several water-based pens (signature pens), colored pens, electronic dictionaries and individual calculators, several folders, large schoolbags, glasses, rulers, small scissors, utility knives, etc.