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Old Sep 25, 2009 | 10:33 pm
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moondog
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Originally Posted by jehflyer
I need to wire transfer $3000 to a colleague in Pudong who does not have a bank account in China.
Having been on both the sending and receiving end of similar transactions many times, I have a bit of experience. If he has an account with BofA, Citi, or HSBC, simply depositing money into one of these is the best way to go IMO (BofA is tied to Construction Bank and the other two have branches in China). Otherwise, I've had better luck with Moneygram than Western Union (lower fees and more favorable exchange rates).
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