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  1. #1
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    Default Keeping money for someone in a different country

    My sister and law and her husband is moving from China to Japan. For some reason they cannot create an account in Japan and then transfer their money from their chinese account to their new Japanese account.
    So they have asked my wife if they can transfer to my savings account. Apparently in Japan you cant transfer money from China to Japan.

    Some time ago when i did some work for someone in the states they transferred $300 to my account and the bank had lots of questions.

    I'm a bit uneasy with this not sure if this is a good idea. Its not a million bucks but quite a bit.

    Isn't there a better way ?

  2. #2
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    Default Re: Keeping money for someone in a different country

    My in-laws do it regularly, or did, I think it's more about SARS questioning the transactions.
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  4. #3
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    Default Re: Keeping money for someone in a different country

    It sounds like it may be a Japan foreign exchange thing. They should try find an "agent" who knows the loopholes. My daughter currently in China uses one to het money into her SA bank account.

    if they money into you SA bank account, SARS could start querieng that.
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  5. #4
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    Default Re: Keeping money for someone in a different country

    Its more about FICA questioning, money laundering etc, so you have nothing to hide
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  6. #5
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    Default Re: Keeping money for someone in a different country

    They can send to my bank account - I wont mind
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  7. #6
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    Default Re: Keeping money for someone in a different country

    What about a crypto wallet?
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  8. #7
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    Default Re: Keeping money for someone in a different country

    Quote Originally Posted by Spiceman View Post
    What about a crypto wallet?
    They are somewhat banned in China except for there own CBDC


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  10. #8
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    Default Re: Keeping money for someone in a different country

    Thanks, sounds like it will be ok.

    I did some googling and it looks like it quite hard to get your money out of china.

    First thing that came to mind was crypto but china banned it except their own. You can probably access crypto over vpn but I dont think there is an easy legal way to buy it.
    Same with Facebook, what's app and a few other things.
    Last edited by SBSP; 2022/05/22 at 07:04 AM.

  11. #9
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    Default Re: Keeping money for someone in a different country

    Paypal or Skrill (old name: MoneyBookers), if China supports them.

    Both functions as a digital wallet for online payment or money transfer to other side of the world.

    Some of my colleagues even use Skrill to store a large amount of money - sort of as an informal bank - ready for their needs of shopping/transfers. Skrill is registered as financial, Paypal is not. Also keep in mind one does not earn interest while keeping/saving money in Skrill.

    Not sure what is the risk with unknown high number of money involved.

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