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  • hangook77
  • The Legend

    • 4114

    • September 14, 2017, 09:10:12 am
    • Near Busan
The ease of sending money out of China.
« on: April 29, 2021, 01:47:13 pm »
I have done a lot of research on this and other topics of China.  I don't go anywhere without doing lots of research and being well prepared.  I took my time researching Korea commenting on Daves (which was a bigger deal than this site at that time) in the mid 2000's.  I heard by word of mouth, go to Korea and make lots of money.  So, I asked many questions, did research, got passport, bought luggage, got vaccination shots, etc.  I was working and not making much money then so was tough, but did bit by bit.  It took me a year or two before I decided to go for it.  Some users were questioning why I kept commenting and wasn't coming to Korea.  When I did finally come folks were shocked.  So, I am taking my time researching and dipping my toe in the water and making sure I am well prepared.

So, I have posted two videos I came across, but I read other things confriming this and saw more than two videos recently. 

The short of it is if you are on a legal Z visa, you need a tax reciept and a proof of employment legally, passport, and some other pieces, you can transfer up to your salary at the bank.  As long as you are legally employed and have paid taxes on your salary, you can transfer money from the bank.  There is some more paperwork involved and you will be at the bank for an hour the first time.  You keep a photo copy of the form you fill out so you can give it as an example the next time you go.  Make it faster the next time you go and the person doing it may know you.  (In some ways it reminds me of the mid 2000's decade going to Nonghyup for an in person bank transfer to Canada.  I didn't get into online banking till around 2010ish or so here using that USB smart key thingee.)

You may get some lazy person at the bank try to not do the transfer or say it can't be done.  But you persist and say it can and make him do it.  Make some phone calls or whatever.  Don't take no for an answer.  Laziness and folks trying to avoid work esepecially if it isn't something simple and easy happens a lot in Korea for some business services too.  It will certaintly happen in China sometimes.  Living abroad means you have to be persistent and pushy sometimes.  Anyways, you will be able to send money home.

I have heard of other ways folks tried to send money home, but don't do this too often.  Government may audit you and think you are doing illegal things or the Chinese person may have to pay extra tax.  As the videos say, it may be people there teaching illegally on a tourist visa or with a fake diploma or something.  For those of us legal, we can just go to the bank.  It is a bit more hassle than Korea, but much more money can be sent home.

I was told that years ago, China did have a lockdown on money being sent out.  Extreme capital controls, but so did Korea before the Asian crises of 1997, I had heard.  Lots of expats went to Itaewon and where ever to get US dollars and sneak money out, I guess.  No different than China at the time.  But recent years, you can legally send out up to your salary on a Z visa and proof of taxes paid. 

Watch the videos, more informative.

https://www.youtube.com/watch?v=AIt27SgmCyU


https://www.youtube.com/watch?v=5rVKzD73X0k





  • hangook77
  • The Legend

    • 4114

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: The ease of sending money out of China.
« Reply #1 on: April 29, 2021, 01:53:04 pm »
This guys advice is the most relevant for sending money home and do it via bank transfer.

https://www.youtube.com/watch?v=yJMw_o5AK5U



  • CO2
  • Waygook Lord

    • 7285

    • March 02, 2015, 03:41:14 pm
    • Uiwang
Re: The ease of sending money out of China.
« Reply #2 on: April 29, 2021, 02:06:35 pm »
This is some interesting, useful and informative stuff and it shows you've dug a bit and done some research.

Appreciated, genuinely.


  • hangook77
  • The Legend

    • 4114

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: The ease of sending money out of China.
« Reply #3 on: April 29, 2021, 02:13:58 pm »
This is some interesting, useful and informative stuff and it shows you've dug a bit and done some research.

Appreciated, genuinely.

Glad to help.  Did it for my future self.  But always glad to let fellow ESLers know too.

(I should also add that like Korea, you can send out up to 50,000 USD a year there too in total.)
« Last Edit: April 29, 2021, 02:17:00 pm by hangook77 »


  • hangook77
  • The Legend

    • 4114

    • September 14, 2017, 09:10:12 am
    • Near Busan


Re: The ease of sending money out of China.
« Reply #5 on: April 30, 2021, 10:03:39 am »
where in China are you moving to, Hangook?


  • gogators!
  • The Legend

    • 4993

    • March 16, 2016, 04:35:48 pm
    • Seoul
Re: The ease of sending money out of China.
« Reply #6 on: May 02, 2021, 04:51:07 am »
Something or someone is holding 77 back.



  • JNM
  • The Legend

    • 4860

    • January 19, 2015, 10:16:48 am
    • Cairo, Egypt (formerly Seoul)
Re: The ease of sending money out of China.
« Reply #7 on: May 02, 2021, 10:08:28 pm »
Something or someone is holding 77 back.



I suspect you are correct; even the Korean woman shown is accurate.


  • confusedsafferinkorea
  • Waygook Lord

    • 5756

    • October 08, 2010, 01:02:32 pm
    • Zhubei, Hsinchu County, Taiwan (not part of China)
    more
Re: The ease of sending money out of China.
« Reply #8 on: May 03, 2021, 07:45:41 am »
The CCP has just enacted some new financial laws on foreign firms and while it may not apply to all foreigners YET, I am not betting the farm. China as an ESL alternative is looking less unattractive by the day. If I were a Canadian or from the US, there is no way I would set foot in China right now.
There is no known medical cure for stupidity!


  • hangook77
  • The Legend

    • 4114

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: The ease of sending money out of China.
« Reply #9 on: May 03, 2021, 12:09:13 pm »
The CCP has just enacted some new financial laws on foreign firms and while it may not apply to all foreigners YET, I am not betting the farm. China as an ESL alternative is looking less unattractive by the day. If I were a Canadian or from the US, there is no way I would set foot in China right now.

You are allowed to send up to 50,000 USD per year.  Anything more than that you need additional paperwork.  I think moving large sums is where the difficulty is lying.  Anyways, in spite of the rumors and hearsay, these are actual foreigners who have sent the money home legally on a Z visa.  No need to get Chinese to send it for you, use Western Union, etc unless you are an illegal teacher or some other nonsense.  You can actually send your money home, albeit with a bit more paprework. 


  • hangook77
  • The Legend

    • 4114

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: The ease of sending money out of China.
« Reply #10 on: May 03, 2021, 12:10:28 pm »
where in China are you moving to, Hangook?

I am reseaching all areas and types of jobs available.  Over the next year or two will make the leap unless Korea smartens up in the meantime or I strike it rich. 


  • hangook77
  • The Legend

    • 4114

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: The ease of sending money out of China.
« Reply #11 on: May 03, 2021, 01:32:25 pm »
But since it offends and triggers you so much. 


Re: The ease of sending money out of China.
« Reply #12 on: May 03, 2021, 08:22:12 pm »
I am reseaching all areas and types of jobs available.  Over the next year or two will make the leap unless Korea smartens up in the meantime or I strike it rich. 

I agree wholeheartedly. the Korean government has too much big government influence over every aspect of the market, and the minimum wage here is pathetic. The creeping socialised agenda (BEGUN in Europe, IMPORTED to America and SPREAD throughout the globe) is taking root. Time to hit the ejector seat.


  • Mr C
  • The Legend

    • 2879

    • October 17, 2012, 03:00:40 pm
    • Seoul
Re: The ease of sending money out of China.
« Reply #13 on: May 03, 2021, 10:42:31 pm »


  • Kyndo
  • Moderator LVL 1

    • I am a geek!!

    • March 03, 2011, 09:45:24 am
    • Gyeongsangbuk-do
Re: The ease of sending money out of China.
« Reply #14 on: May 04, 2021, 07:23:28 am »
He means a rise in (the pathetic) minimum wage, and the end of 2.1 ESL salaries, I think.


Re: The ease of sending money out of China.
« Reply #15 on: May 04, 2021, 03:43:10 pm »
Well have fun living in an actual communist dictatorship hangook if you do go through with it.

I thought about teaching in Shenzhen years ago when my Korean province non-renewed all our EPIK jobs, but the math just didn't add up. The salary was higher but you had to pay rather high rent for an apartment, and it looked like the commie taxes would end up being pretty insane. Also the vacation was longer than EPIK but it was basically unpaid unless you taught a LOT of summer/winter camps. If I remember correctly you'd get like $50 a week if you decided to take the vacation. This was years ago and again it was for a public school ESL job in Shenzhen.


  • confusedsafferinkorea
  • Waygook Lord

    • 5756

    • October 08, 2010, 01:02:32 pm
    • Zhubei, Hsinchu County, Taiwan (not part of China)
    more
Re: The ease of sending money out of China.
« Reply #16 on: May 05, 2021, 07:58:59 am »
Well have fun living in an actual communist dictatorship hangook if you do go through with it.

I thought about teaching in Shenzhen years ago when my Korean province non-renewed all our EPIK jobs, but the math just didn't add up. The salary was higher but you had to pay rather high rent for an apartment, and it looked like the commie taxes would end up being pretty insane. Also the vacation was longer than EPIK but it was basically unpaid unless you taught a LOT of summer/winter camps. If I remember correctly you'd get like $50 a week if you decided to take the vacation. This was years ago and again it was for a public school ESL job in Shenzhen.

Yes, you have to be a little careful. The packages aren't always what they seem. Now, I didn't work for a public school so it could be different, I worked for a University based in Florida who had a contract to supply lecturers and teachers to High Schools and Colleges. My first two contracts were with a college and I was offered a salary of 14,000 RMB (about $2,100 US) with free medical, an apartment etc. It sounded wonderful but this is what happened to me.

Freshmen have to do one month military training at the beginning of the first semester and I was assigned to teach freshmen. I had no classes for a month but also no pay. Twiddled my thumbs for a month with no pay. Winter and summer vacations, not paid and the academic year was supposed to end at the end of June. My college decided to invite some visiting lecturers from the US for June, so classes were cancelled from the last week of May, no pay for the last week of May and the whole of June. So, in the end I only got about 7 months pay. Not such a good deal. No bonuses either.

By contrast here in Taiwan, I work in a public school, get 11 month's pay no matter what and 1 month's bonus and my salary is about $2,900 US but out of that I pay my apartment which is $340 US. So, for me I am way better off here in Taiwan and no person looking over my shoulder from the government, no censorship, I can do what I like, say what I like and go where I like.

So Hankook, not saying you mustn't go, your choice but I believe there are better options out there.
There is no known medical cure for stupidity!


  • hangook77
  • The Legend

    • 4114

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: The ease of sending money out of China.
« Reply #17 on: May 06, 2021, 02:35:00 pm »
Well have fun living in an actual communist dictatorship hangook if you do go through with it.

I thought about teaching in Shenzhen years ago when my Korean province non-renewed all our EPIK jobs, but the math just didn't add up. The salary was higher but you had to pay rather high rent for an apartment, and it looked like the commie taxes would end up being pretty insane. Also the vacation was longer than EPIK but it was basically unpaid unless you taught a LOT of summer/winter camps. If I remember correctly you'd get like $50 a week if you decided to take the vacation. This was years ago and again it was for a public school ESL job in Shenzhen.

Communist dictatorship doesn't affect foriegn English teachers that much.  Total deductions in Korea were around 8 per cent and now are around 13 per cent of the paycheck plus more money owed at end of year 300 thousand or so that was not owed before.  China taxes and fees are closer to 20 per cent.  You can get an apartment on your own with a partial subsidy or you can get a contract with free school housing.  You can even stay at a school baording and get everything free and free meals and no utilities.  (Though you would only take that option if you were looking to bank money and really save cash.) 

You have to find public schools that pay close to 23 to 25 thousand RMB a month to cover that.  Free apartment, there is no reason on this you couldn't send home 15 or 16 thousand RMB a month left over.  (16,000 Chinese Yuan equals 2,779,058.39 South Korean won.)  You can get contracts and neogitate winter fully paid and if you renew the contract you can ask for partial pay in summer for 2 months.  Ask for 8 to 10 thousand RMB for 2 months a year.  Drive a bargain.  But add up what you save over 10 months and the money saved and put away is a lot more.  (If you choose to live in the school dorm for a year or two you will save even more.  But that is not ideal so you can get an allowance and get a place. )

Shenzhen is more expensive and has more moderate pay though still good.  You can find plenty of other areas all over with free housing and good pay.  Many also give long vacations with no desk warming too. 

If you want full pay year round, choose a Kindergarten or Chinese hakwon and find something paying 25,000 to 30,000 rmb.  Make even more money.  I certaintly would negotiate a good deal and look for it.  There are bad contracts and there are good ones.  Some still pay low and some pay high.  (IE  Chains like EF pay low and are less of a good deal though they may change that due to competition.) 

Anyways, I have done and am doing lots of research plus spoken to friends who went to China.  It was an okay deal in recent years but it has really accelerated very recently.  Do your own research.  I would not do it for 15,000 rmb a month and pay my own rent (hello EF chain).  I would want 25,000 to 30,000 rmb with getting my own place or at least a small subsidy.  I would go 20,000 to 25,000 rmb with a free apartment or place to stay. 

Anyways, China has shot up a lot recently.  Go search the job boards and look at what the pay and what is inlcuded.  Convert to Korean Won or your home country's currency and see for yourself.  Compare to what you will make and save here.  After all, it is about what you can actually save regardless of actual salaries, right?


  • hangook77
  • The Legend

    • 4114

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: The ease of sending money out of China.
« Reply #18 on: May 06, 2021, 02:45:40 pm »
Yes, you have to be a little careful. The packages aren't always what they seem. Now, I didn't work for a public school so it could be different, I worked for a University based in Florida who had a contract to supply lecturers and teachers to High Schools and Colleges. My first two contracts were with a college and I was offered a salary of 14,000 RMB (about $2,100 US) with free medical, an apartment etc. It sounded wonderful but this is what happened to me.

Freshmen have to do one month military training at the beginning of the first semester and I was assigned to teach freshmen. I had no classes for a month but also no pay. Twiddled my thumbs for a month with no pay. Winter and summer vacations, not paid and the academic year was supposed to end at the end of June. My college decided to invite some visiting lecturers from the US for June, so classes were cancelled from the last week of May, no pay for the last week of May and the whole of June. So, in the end I only got about 7 months pay. Not such a good deal. No bonuses either.

By contrast here in Taiwan, I work in a public school, get 11 month's pay no matter what and 1 month's bonus and my salary is about $2,900 US but out of that I pay my apartment which is $340 US. So, for me I am way better off here in Taiwan and no person looking over my shoulder from the government, no censorship, I can do what I like, say what I like and go where I like.

So Hankook, not saying you mustn't go, your choice but I believe there are better options out there.

You have to have a Bed to teach public schools in Taiwan.  As for Universities in China, I never considered it as I thought their pay was too low.  But what you told me, makes me want to avoid any more.  They should still pay you for being there for 10 months or so.  Regular public schools wouldn't have those problems.  One friend who did it in a Tier 2 or 3 city his contract said up to 25 teaching hours.  So, if he taught less he got his 15,000 rmb a month and free apartment.  He insisted on his own place rather than boarding on the campus itself.  He taught elementary school.  But this was up until about 3 years ago when he went back to Canada.  So, this was the standard pay a few years ago.  He went home to Canada for 2 months every summer and didn't have desk warming.  He taught 10 hours a week.  Though they did get up closer to 25 before he left though he still didn't have to stick around after wards.  Pay is more now.  23,000 to 25,000 very common, but also many much higher. 

As for the other comments, I addressed in the last comment.  But I will add China still has a cheaper living cost while in Korea it has a higher living cost and is rising sharply.  (IE  I rememeber buying toilet paper for 16,000 to 18,000 won - the non sandpaper feeling kind.  Now there are sold for around 30,000 but with 'sales' for 18,000 to 22,000 won.  The sale prices are higher than the old regular price.  These 'sales' have been on since about January, I have noticed.  Eventually, the 'sales' price will be mid to upper 20's and then the new regular price will kick in.  I think it will be by 2022 that it is over 30,000 won.  COmpanies playing the long game to get people conditioned to a sharp price hike.  This is only one example.  Other massive inflation is coming to Korea.  Remember that.)


  • hangook77
  • The Legend

    • 4114

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: The ease of sending money out of China.
« Reply #19 on: May 06, 2021, 03:05:02 pm »
Pay is going up a lot recently in China.  But, the uncertainty of covid and vaccines, etc.  Stay put for now.  But make the plans to hop in 2022 and beyond if you go. 

I am replying to private messages I have gotten with folks asking me to share my research with them.  I think they won't ask due to them seeing me get jumped on for passing on the info. 

I am set up with apartment and car and waiting for covid to clear up.  I will begin making plans to wind down and move on from there.  If you are set up here, give Korea till 2022.  If you are a new teacher looking for jobs, do China instead.  The money is far better and the work conditions are less demanding and less picky.  Come to Korea if you wish, but don't be surprised by the low savings after one year and that it isn't what recruiters led you to believe it is.  To each their own.