How to get 3 months rent + 1 month deposit in cash?
- Joined: Dec 6th, 2011
- Posts: 4
Hi,
I will be moving to Beijing in February. Now I read that when renting a new place you're expected to pay the first three months of rent upfront. And there's also a deposit equivalent to one month's rent. Payable in cash.
So. How does one get that much money in cash quickly?
With my credit card I can withdraw 'only' about 1300 euros cash per month. (The limit for purchases is much higher.)
I asked Deutsche Bank in my home country about this and they suggested I should get a Chinese bank account and wire the money there. But then I asked HSBC in Beijing and they told me that to open a bank account I need to be able to prove I live in Beijing first. So that's a catch 22.
Also, I read that wire transfers to/from Chinese bank accounts might be expensive.
So does anyone know how to solve this problem? Should I use Western Union or something?
Thanks!
Update: I guess I could ask my bank to unblock my Maestro debit card for use outside Europa. Do Chinese ATMs accept Maestro though?
locgo
Re: How to get 3 months rent + 1 month deposit in cash?
I think all ATM's take Maestro, I know ICBC and Bank of China do anyhow although there is normally a daily withdrawal limit set by your bank so best double check that.
Sciency
Re: How to get 3 months rent + 1 month deposit in cash?
U might be able to negotiate 2 months advanced rent + deposit.
Depends on how desperate they are to rent the place.
Every month it sits on the market costs them, and they know it.
Incidentally, u didn't mention the agency fee. Unless u are negotiating directly with the landlord, u will have to pay another one month's rent to the agent for setting the deal up.
Galaxies don't move Sciency. They're in a fixed position.
Sciency
Re: How to get 3 months rent + 1 month deposit in cash?
"Maestro" is a banking term now, WTF?
I've really been living in a cave.
But a *nice* affordable modern cave -with room to spare.
Look dude bring CASH. Problem solved.
Galaxies don't move Sciency. They're in a fixed position.
bdove
Re: How to get 3 months rent + 1 month deposit in cash?
Well you certainly haven't visited Europe much. The Maestro logo is on every bank card and every ATM here as it's the European standard for debit cards.
Bringing large amounts of cash in the local currency is not usually allowed when traveling to a country with a controlled currency. I assume this is true for China also.
Moreover, it should be cheaper to withdraw money from an ATM.
However, I called my banks and it looks like using two credit cards + two debit cards + two days I will be able to withdraw enough money.
Thanks all!
PS. I seem to understand that if your rent is > 4000 RMB per month the agency fee is usually dropped (or included in the rent).
Sciency
Re: How to get 3 months rent + 1 month deposit in cash?
I bring anything I want into this country, they don't care.
I could bring a damn gun if I wanted to.
Would never try it though...
Galaxies don't move Sciency. They're in a fixed position.
Sciency
Re: How to get 3 months rent + 1 month deposit in cash?
Things I've brought into this country include
Entire Genoa Salamis
Fresh Blueberries
Huge blocks of Cheese...
Stacks of cash would be a non-issue I reckon.
Money is *quite* popular here
Galaxies don't move Sciency. They're in a fixed position.
Sciency
Re: How to get 3 months rent + 1 month deposit in cash?
Greater than 4000, the landlord technically should pay the agency fee.
But don't believe anything.
They "say" that, but the agent will try to double-dip.
I pay more, but it's worth it, cuz I like some space.
If the place is all right (you like it) just *pay*.
That's my advice.
Galaxies don't move Sciency. They're in a fixed position.
bdove
Re: How to get 3 months rent + 1 month deposit in cash?
Thanks. I think that's what I'd do too as I'm getting reimbursed anyway.
I'm getting nervous already about carrying so much cash as I don't think I've ever physically held more than 200 euros! (In my country people pay rent by wire transfer.)
locgo
Re: How to get 3 months rent + 1 month deposit in cash?
Cheaper to withdraw money from an ATM?!?! does ur bank not charge you for withdrawing from international ATM's? If your using 2 CC's and 2 DC's i'd say it might be cheaper to just bring the money with you plus it'll save you having to go to the ATM a load of times!
Bring the money with you - problemo solved
MsTang
Re: How to get 3 months rent + 1 month deposit in cash?
http://www.lebara.com/ (lots of different companies supply these now, even post office)you can pay in cash or transfer to them with another DD.No credit checks.
just load these cards up, use em anywhere, good rates, bin them when your done.Can have a extra friend ones, so i usually chuck one at a gf and give em a "allowance" if they play good.
Also walking in with large lumps of cash no problem, only people who will mug you are gfs. Wear a money belt or something.
Keep a eye on exchange rates daily and watch the trends.
MrTang is a f-kin idiot!
WAR PLAN RED
http://www.britishreparations.org/
bdove
Re: How to get 3 months rent + 1 month deposit in cash?
There's a 2.5 euro fee per withdrawal but the exchange rate is good.
I guess I could try to get RMB bills at my local bank but I wouldn't feel comfortable carrying that much cash around (or leaving it at the hotel) until I find an apartment!
Prepaid credit cards. Didn't think of that. Thanks for the suggestion.
MsTang
Re: How to get 3 months rent + 1 month deposit in cash?
20rmb withdrawal is ok, not like you need to hit it every day.Its better exchange rates then the banks can do you. Just make sure you select card holders exchange rate and not the ATM rate.
I always travel around with a big chunk of cash, you get hit by a car in the street here no f-er going to help you unless they see wonger instant like.
MrTang is a f-kin idiot!
WAR PLAN RED
http://www.britishreparations.org/
admirerdr
Re: How to get 3 months rent + 1 month deposit in cash?
Just carry USD3,000.- your problem is solved !
Nidaye
Re: How to get 3 months rent + 1 month deposit in cash?
Dude, just bring some travellers checks (either Euro or USD).
Using foreign bank cards here can be a bit tricky, so you should bring some cash or travellers checks regardless. Also, if your cards have PINs longer than 6 digits you might want to change them to a 6 digit PIN before you come here.
dan4
Re: How to get 3 months rent + 1 month deposit in cash?
How the eff is that possible? Are you homeless?
Damn I'm hot. I'm on fire!