Monday, April 8, 2013
How to Wire Money to China
1. Create a PayPal account. 'Personal' PayPal accounts do not incur any fees, even when sending and receiving money from other PayPal accounts from a non-credit card source, such as a PayPal balance. If your recipient does not have an account, tell him to do so as well.
2. Confirm a bank account or link a credit card to your account. Linking a credit card is instant, but verifying a bank account generally takes three to five days. PayPal deposits two small amounts into your bank account, which you type into their interface. This is necessary to prevent unauthorized use of your bank account.
3. Send money to your recipient. Click 'send money' and type in the PayPal e-mail address linked to the recipient's account. If you do not have a positive account balance, you need to choose a funding source such as the credit card or bank account you verified earlier. Your recipient receives the money instantly and can withdraw the funds via Electronic Funds Transfer (EFT) or check. He also has the ability to spend his balance with any online merchant that accepts PayPal.
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