Chinese RMB rates..

[adidas88]

RMB rate at 1705hrs ..

PPC 4.65
RP 4.677

looks like rmb will stay ard this rate for this wk ....

was hoping it to reach 4.7 by this wk and change some ..

[nomorevirgin]

For all info....

Just change at PPC

RMB 4.66

[Tony Stark]

17/06/09

Raffles Arcade (4pm):
- RMB4.68
- HKD5.31
- MYR24.18

Originally Posted by adidas88

was hoping it to reach 4.7 by this wk and change some ..

CASH KING so calculative one meh?

[adidas88]

Originally Posted by Tony Stark

17/06/09
Raffles Arcade (4pm):
- RMB4.68
- HKD5.31
- MYR24.18
CASH KING so calculative one meh?

hehehe ... mind game, bro ....

[Taurus_Heaven]

I went to RP to exchange RMB for my coming trip, the exchange rate is 4.675. Cheers...

[adidas88]

1510hrs

change some rmb at RP 4.683 ...

[adidas88]

Originally Posted by coolmanks

Contruction bank is the best for us because
1. They have the most ATMs around the HH and Huimei area in CP. 3 ATM each next to Macdonald opp HH and at the street opp Huimei.(near the soup rest) 2 more ATM at the culture plaza near New Century hotel. Very useful after KC or badminton with MM at culture plaza.
2. They have a branch and ATM near LQD.
3. Remitting $ to construction bank is more efficent if you are using agent at PP. Worst is BOC and Agriculture Bank.

bro .. need some clarification ...
if i open a china bank account in china ... and when i want to remit money to my china bank account in singapore, i go to the agent in PPC .. right ??

so does that mean when i am in singapore and i want to remit S$10,000 into my china bank account, i must bring CASH S$10,000 to the agent ???
do they accept other form of transcation ?? like cheque or interbank transfer ??

[mebirdie]

Originally Posted by adidas88

bro .. need some clarification ...
if i open a china bank account in china ... and when i want to remit money to my china bank account in singapore, i go to the agent in PPC .. right ??

so does that mean when i am in singapore and i want to remit S$10,000 into my china bank account, i must bring CASH S$10,000 to the agent ???
do they accept other form of transcation ?? like cheque or interbank transfer ??

1. You need not to the agent in PPC. Any remittance agent will do.
2. It depends on what form of payment they accept. Not sure any place accept Nets. You can go and remit from your own bank. In this case, you just have to ensure that your bank has $$$.

[adidas88]

Originally Posted by mebirdie

1. You need not to the agent in PPC. Any remittance agent will do.
2. It depends on what form of payment they accept. Not sure any place accept Nets. You can go and remit from your own bank. In this case, you just have to ensure that your bank has $$$.

u mean i can transfer my funds from my citibank account to my china agriculture bank in china ???

[coolmanks]

Yes after u have opened your account in china (PS, Ask for a account with the debit card "Union Pay".) , the most efficent way to remit fund/ cash to this account is the remit. agents at People Park. Banks and western union also can do it, but they are more x and less efficent.

The agent accepts Cash and "Cash" cheques. Just show the agent the UnionPay card, the agent will know what need to be done.

You should receive your credits or funds the next working day after 5pm. But if you pay extra $10, your account will be credited on the same day.

PS to open the bank account, please bring your passport and a photo copy of your passport. (the bank will not photocopy for you.)

Originally Posted by adidas88

bro .. need some clarification ...
if i open a china bank account in china ... and when i want to remit money to my china bank account in singapore, i go to the agent in PPC .. right ??

so does that mean when i am in singapore and i want to remit S$10,000 into my china bank account, i must bring CASH S$10,000 to the agent ???
do they accept other form of transcation ?? like cheque or interbank transfer ??

[Niceman]

Originally Posted by adidas88

1510hrs

change some rmb at RP 4.683 ...

4.65 at marina sq

[mebirdie]

Originally Posted by adidas88

u mean i can transfer my funds from my citibank account to my china agriculture bank in china ???

Yes. You go to citibank and transfer and you can to that.
After it is successfully transfer, you can use the china atm card or internal to check the balance. I have just tested in the china internet banking and use the citibank atm in bishan, it works fine.

Another way is certain remittance agency accept NETS. You can use that as well.

[adidas88]

Originally Posted by coolmanks

Yes after u have opened your account in china (PS, Ask for a account with the debit card "Union Pay".) , the most efficent way to remit fund/ cash to this account is the remit. agents at People Park. Banks and western union also can do it, but they are more x and less efficent.

The agent accepts Cash and "Cash" cheques. Just show the agent the UnionPay card, the agent will know what need to be done.

You should receive your credits or funds the next working day after 5pm. But if you pay extra $10, your account will be credited on the same day.

thanks bro for the clear information .....

Originally Posted by coolmanks

PS to open the bank account, please bring your passport and a photo copy of your passport. (the bank will not photocopy for you.)

wtf .... got to bring own copy of passport copies ... KNN ...
then wtf the bank copier for ??? white elephant ???

Originally Posted by mebirdie

Yes. You go to citibank and transfer and you can to that.
After it is successfully transfer, you can use the china atm card or internal to check the balance. I have just tested in the china internet banking and use the citibank atm in bishan, it works fine.

then why do i want to go to agent to do it if i can do it online with my bank ??
birdie .. i think u did not furnished enough information ....
is there any bank charges )Sin & China ??
how's the exchange rate compare ??

[mebirdie]

Originally Posted by adidas88

thanks bro for the clear information .....

wtf .... got to bring own copy of passport copies ... KNN ...
then wtf the bank copier for ??? white elephant ???


then why do i want to go to agent to do it if i can do it online with my bank ??
birdie .. i think u did not furnished enough information ....
is there any bank charges )Sin & China ??
how's the exchange rate compare ??

The bank actually photocopy for me. Not sure why the bank refuse to do it for him.

use bank to remit
- higher bank admin fees in singapore. No admin fees in china for any method you use
- Slower
- Exchange rate lower

[Tony Stark]

Originally Posted by adidas88

bro .. need some clarification ...
if i open a china bank account in china ... and when i want to remit money to my china bank account in singapore, i go to the agent in PPC .. right ??

so does that mean when i am in singapore and i want to remit S$10,000 into my china bank account, i must bring CASH S$10,000 to the agent ???
do they accept other form of transcation ?? like cheque or interbank transfer ??

Oh my gawd!!! CASH KING don't know how to do bank TT!? Unbelievable!

Originally Posted by mebirdie

Yes. You go to citibank and transfer and you can to that.

Doing bank telegraphic transfer over the bank counter will incur extra charges on top of the service fees (cable charge + commission). Best is to use telephone banking if you've set it up before. This way you'll not incur over the counter service charge. On average bank TT charges are about S$28 all in as compared to S$15-18 at People's Park Complex remittance agents.

Which one cheaper? The choice is clear.

Originally Posted by mebirdie

use bank to remit
- higher bank admin fees in singapore. No admin fees in china for any method you use
- Slower
- Exchange rate lower

Yes you've put it correctly. Usually takes 2 or more working days for recipient to receive the funds. Also damn hate it when you need to furnish routing number, swift code and all the nonsense unless you have it on record as pre-approved recipient.

You must have done a lot of bank TT before. Maybe another CASH KING but low profile eh?