Hi,
I would like to send money to a relative in China using Paypal. After I researching the Paypal online info, I think the following steps are required:
1) My relative would have to sign up a Paypal acct. The sign up screen says the Paypal acct info have to match with the bank acct info of my relative in China. Since the bank acct of the relative in China only has info in Chinese, not in English, how should he enter his info when he signs up the Paypal acct?
2) After my relative signs up a Paypal acct, he would link his bank acct in China to his Paypal acct. Paypal would verify his bank acct by sending some small deposits to his bank acct in China. Since he only has bank acct in Chinese currency (i.e. RMB), would the small desposits sent by Paypal be in RMB or some other currency and then converted to RMB by the Chinese bank acct automatically?
3) After his Chinese bank acct is linked to his Paypal acct, I can send money from my Paypal acct using my Paypal acct balance to his Paypal acct. Do I send the payment by selecting RMB or Canadian $? If I select Canadian $ to send to his Paypal acct and he then transfers the money from his Paypal acct to his Chinese bank acct. Is the payment converted to RMB automatically by Paypal or the Chinese bank where the Chinese bank acct is? I understand that Paypal would charge the service fee of 0.5% for me to send money to his Paypal acct. But no service charge for him to move money from his Paypal to his Chinese bank acct. Is there any service charge by the Chinese bank for recieving a foreign electronic automatic deposit?
