Wanna transfer money to your stateside bank? Is your account in China with CITIC aka SHITTIC Bank because it is truly a shit experience. Opening an account takes 3-4 hours for foreigners -- this is not hyperbole!! Be prepared for a long slice of sour-tasting Frustration Pie! Requirements: First, you need a tax statement from the tax bureau. Second, a salary statement from your employer. Third, your passport (with work/resident permit, of course), and CITIC bank ATM card. Fourth, your stateside bank's SWIFT code, routing #, address, phone number, and a (yours?) stateside address--assume it's the "billing address" used for your bank statements. Thinking to myself...Hmmm, I switched my address to China, so now what??? And fifth, and most importantly (!), you need a whole can of ALotOfEffingPatience!! Details forthcoming... like I said, you need a whole lot of ALotOfEffingPatience!!, even with this blog post!
At SHITTIC, you will need:
August 30 update I spent two hours of lunchtime at the bank and accomplished absolutely zero. I missed lunch, was late to work, and needed to pee for two hours, and left the bank with the exact same documents and nothing accomplished They must have asked me ten times, "So you want to send US Dollars to your US Bank?" I am not exaggerating! After waiting nearly an hour, sitting at a teller window another hour while I was asked inane questions, such as "Why do you want to transfer this money?" and "What will you use the money for?"; taking pictures of me; asking the same questions over and over again ("So you want to exchange Chinese RMB for US Dollars?", "So you want to send US Dollars to your US Bank?", "So you want to send xxx dollars to your US Bank?", "So you want to exchange xxx RMB into xxx US Dollars?", "So your name is xxx?"...); and typing god-knows-what into the computer, they told me I had to open a different account to transfer money and that the exchange rate in that account is nearly a percentage point less, so I will lose even more money during the transfer. Money transfer here is an unpleasant, time-sucking experience. Be warned, be prepared! Bring a book and a bucket of patience! According to the bank, foreigners are not allowed to have savings accounts, any kind of interest-bearing accounts, or investment accounts. That sucks too, because my money will just sit there and lose value as inflation increases. Sigh. As an aside, you are not allowed to have an iHerb account unless you are a citizen/permanent resident. Double sigh. This is why I drink in China, LOL!
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