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Thread: International money transfer
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[quote=CANADAGUY,280301]Thanks IBAussie for your response. Just a little follow-up on my Paystone experience. It turned out to be a very cost-effective way to send the money in the end. I don't know which countries are permitted to sign up with Paystone. The company is based in Canada and has been in business for about 8 years now. They have made a business deal with the Shanghai Pudong Dev. Bank (SPDB). If your recipient has an account with them the money can be transferred directly into their account. If they don't have an account at SPDB, which was the case with my friend, you can transfer the money to any SPDB branch in China for a pickup. You don't have to specify the branch. You just need to enter the city and the recipient can go to any branch in that city to pick up the money. You can transfer any amount up to $2000 US. It costs $10 to transfer up to $500. They have a $2 dollar discount at the moment, so it cost me $8. Overall I'm quite pleased how it turned out. It would have cost $30 to wire the money. A draft would have cost $7 plus at least $3 to mail and would take 2-3 weeks to get there. This way it takes just a few days and is the cheapest method I've found so far (barring sending cash in the mail).[/quote]
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