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Many students in the U.S. have to find ways to transfer money back home to China. Financial institutions, checks, offline services and re-loadable ATM cards are all options with both perks and downsides.

1.A U.S. bank or credit union account can be opened to transfer cash. Many students choose this method to wire to assist parents or other family members back home in China.

If you want to use either of the options, be sure to first research all the specific details and have them handy when you’re ready send money to China. You should first get the SWIFT (Society for Worldwide Interbank Financial Telecommunication) code of the specific city and bank where you would like the money. This can be obtained very easily. You will also want the name, phone number and address of the bank’s branch. Also be sure to have handy the account number of each family member you will wire money to.

For any transfers to China through a bank or credit union, the money usually arrives within one to two weeks. The cost ranges from $15 to $50, with most banks charging between $35 and $45, but usually you may only wire $2,000, unless you have an account with the bank. One other thing to keep in mind is that you most likely will not be allowed to use a credit card.

2.You can also use a personal check as a method of transferring money. With this option you avoid the fees charged through the SWIFT system, but you will encounter problems when it comes to the issue of speediness. If you simply try to mail a personal check to China, your family might not see that check clear and post up for up to a month. And even though Chinese banks still charge a fee, it is minute compared to others.

3. Use an offline, kiosk-based company. At least one of the leading wire companies charge a flat 10% rate to complete the money transfer. With this option you’ll have to check with family in China to ensure there is a location based nearby so they could pick up the money.

4. Try a rechargeable ATM card, which after the first transfer, is second to the already speedy offline companies. The second and every time after that is surely the quickest way to get money to relatives in China. With these cards you simply log onto one of the many websites that allows you to purchase the ATM/debit card, and mail it to China. At least one of the websites allows you to buy and send the card through the reliable FedEx service. After receiving the card your family can then use it to make purchases or even to withdraw funds from an ATM.

One big advantage of this type is that once your family once your family has the card, they are just minutes from accessing the money you send. All you are required to do is use a phone or the internet to transfer money in a matter of minutes.