If you have ever tried to transfer money to China, have you ever stopped to wonder whether your money would arrive in U.S. dollars or in Chinese Yuan? Most people never do.

Keep in mind that even though you begin with dollars|, the recipient will receive the money in Yuan. Some businesses offer to convert the money for you, but it is at a price.

Most often, the exchange rate is determined by the business itself, so it is challenging to find a fair rate. You may use a bank wire transfer service, but other issues will surely arise.

To wire funds to China through a bank, it is imperative both parties have an account with that bank. This allows the government to track money and ensure no illegal activity is going on.

If the banks are easily accessible, then theres no problem. But if recipient is on vacation, does not have an account, or lives a distance from that particular bank; then the money transfer will be more difficult than planned.

If you would rather go a different route, there are other options. The first is an old-fashioned telegram-style transfer where you send it, and your recipient picks it up. The exchange rates arent always the best, always fair] but its still a viable option.

One other option is through the internet, but a massive problem remains that it takes too much time for the funds to become available.

Regardless, the days of fast and easy money transferring are near, with the help of pre-paid credit cards. One day a person will be able to go online to add money to a card. All the recipient must do is take their card to the bank and collect the money. Although this method still has some kinks to work out, it may soon be the preferred way to transfer money.