/profile/35-lucylez/?do=hovercard” data-mentionid=”35″ href=”<___base_url___>/profile/35-lucylez/” rel=””>@LucyLez Wow, still only Bank of China and ICBC? I thought the other banks would have caught up by now since they have branches in New York and certainly have the means to offer Direct Drafts drawn in US dollars.
/profile/37-girlatwork/?do=hovercard” data-mentionid=”37″ href=”<___base_url___>/profile/37-girlatwork/” rel=””>@GirlatWork You actually need 500,000 RMB to maintain a HSBC premier account without monthly fees.
Maybe I’m wrong, my understanding was that there are no restrictions with ICBC and Bank of China issuing foreign currency bank drafts if you supply them with the foreign currency. I have a long trusted “huang niu” for such matters. There are additional forms to fill out if you (local or foreigner) are buying a value over $10,000. Anyway, the lack of a measly daily limit, low fees, and the ability to Remote Deposit Capture makes it much more efficient than wiring.