Sending funds to China monthly

Rarepepe

Hi Folks,

I am moving to China shortly for roughly one year, I receive monthly money into my BOI account. The plan is to forward this money every month to my Chinese bank account. 

The problem is that I wont be setting up the bank account until I am in China so I will need some way to be able to contact BOI while over there. What's the best way to go about this? And what kind of fees will be involved, the amount of money per month will be a lot less than 1k euro if this helps.

I appreciate any suggestions or ideas,
Thanks

haro124

Rarepepe wrote: »

Hi Folks,

I am moving to China shortly for roughly one year, I receive monthly money into my BOI account. The plan is to forward this money every month to my Chinese bank account. 

The problem is that I wont be setting up the bank account until I am in China so I will need some way to be able to contact BOI while over there. What's the best way to go about this? And what kind of fees will be involved, the amount of money per month will be a lot less than 1k euro if this helps.

I appreciate any suggestions or ideas,
Thanks

When I was in China for the last year I just took money from my Irish account with my debit card ( a few Euro fee per transaction). Heads up: Banks in China are very stressful! Lots of paper work etc. Lots of rules etc. (oh and on a sidenote ATMs also sometimes give fake money in China! So check your notes!

Rarepepe

Thanks for the fast reply, the university i'm going to are actually going to set the account up for me(as far as I know). They are also sending money into the Chinese bank account, so it would of made sense to put it all into the one account. 

I will probably go with your suggestion unless I find another

Thanks again!

haro124

Rarepepe wrote: »

Thanks for the fast reply, the university i'm going to are actually going to set the account up for me(as far as I know). They are also sending money into the Chinese bank account, so it would of made sense to put it all into the one account. 

I will probably go with your suggestion unless I find another

Thanks again!

No problem! Just back from a year in college in China myself! Good luck it'll be great!

Rarepepe

Thanks, best of luck to you!

Bank of Ireland: Sharon

Rarepepe wrote: »

Hi Folks,

I am moving to China shortly for roughly one year, I receive monthly money into my BOI account. The plan is to forward this money every month to my Chinese bank account. 

The problem is that I wont be setting up the bank account until I am in China so I will need some way to be able to contact BOI while over there. What's the best way to go about this? And what kind of fees will be involved, the amount of money per month will be a lot less than 1k euro if this helps.

I appreciate any suggestions or ideas,
Thanks

Hi Rarepepe,

Thanks for contacting us on Boards.

If you are registered for Banking 365 Online, you can add the Chinese account as an 'International (Non-SEPA) Payee' and transfer funds to it as you wish. The charge for an International transfer via Banking 365 is €5. For more information on International money transfers see here.

If you need assistance while abroad, BOI Direct can be contacted on 00353 1 4044000. Representatives are available 8am - midnight Monday to Friday and 9am - 6pm Saturday, Sunday and Bank/Public Holidays. Alternatively, you can submit a query via our 'Online Service Desk' on Banking 365 online.

We hope this helps and if there's anything else we can help with, please let us know.

Thanks,

Sharon

Rarepepe

Bank of Ireland: Sharon wrote: »

Rarepepe wrote: »

Hi Folks,

I am moving to China shortly for roughly one year, I receive monthly money into my BOI account. The plan is to forward this money every month to my Chinese bank account. 

The problem is that I wont be setting up the bank account until I am in China so I will need some way to be able to contact BOI while over there. What's the best way to go about this? And what kind of fees will be involved, the amount of money per month will be a lot less than 1k euro if this helps.

I appreciate any suggestions or ideas,
Thanks

Hi Rarepepe,

Thanks for contacting us on Boards.

If you are registered for Banking 365 Online, you can add the Chinese account as an 'International (Non-SEPA) Payee' and transfer funds to it as you wish. The charge for an International transfer via Banking 365 is €5. For more information on International money transfers see here.

If you need assistance while abroad, BOI Direct can be contacted on 00353 1 4044000.  Representatives are available 8am - midnight Monday to Friday and 9am - 6pm Saturday, Sunday and Bank/Public Holidays. Alternatively, you can submit a query via our 'Online Service Desk' on Banking 365 online.

We hope this helps and if there's anything else we can help with, please let us know.

Thanks,

Sharon

Thanks for the reply, I have four other questions if you don't mind:

1. My account has been upgraded from a student account to a normal account as I graduated here and I am now getting charged fees. If I become a post-graduate student in another country is it possible to revert the account back to some kind of student account?

2. Is the 5 euro fee mentioned instantly taken when a transaction occurs?

3. Will I be charged any other fees by the Chinese bank?

4. On average how long would it take for the transferred money to appear in a foreign bank account?

Thanks

Bank of Ireland: Tara

Hi Rarepepe,

We offer the Third Level Student Account to applicants who are 25 years of age or younger and are engaged in fulltime third level education or are fulltime in a post-graduate course that lasts at least one academic year in a college recognised by the Central Applications Office (CAO).

The 5 euro fee is debited at the time you make a transfer. There may be fees charged by the bank in China to receive the payment however, you would need to contact them to clarify this. International transfers, requested on a banking day before the 3.30 pm cut off time, will take 3-5 days to reach the foreign bank.

I hope this helps and if you have any further queries, please let us know.

Thanks
Tara