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$15k? How does the students pay their tuitions nowadays then?
by jialutu 6y ago
$15k? How does the students pay their tuitions nowadays then?
- Canada 6y agoYou can transfer out more than that from your account, if you can show approved reasons. The $15k limit is on ATM cards+forex buys at the bank. There are also tons of grey ways to get cash out too, especially if you have a lot of money. It's all just really shitty to have to deal with when it's your own money. So yeah, not looking to "invest" in China until they allow the money to come out no questions asked.
- jialutu 6y agoWell, there is no country that would ever allow money to move in or out "no questions asked". Why do you think there are a lot of terms like AML, or KYC floating about in the finance sector? Also, international payments are a pain in the first place. I'm based in London currently contracting for a Singaporean firm, and they've still yet to be able to make the payment due to IBAN, SWIFT code issues. And you'd think that London and Singapore both being global financial centers, it would be easy right? But yeah, I take your point its really bad having too much restrictions on moving money out of China, although I do think they are trying to change those policies.