I will need to transfer funds regularly to people in China. At the start, the amounts will not be big so I need to find an efficient way to transfer with racking up SGD 30-50 dollars of transaction charges each time.
So I'm wondering if it is possible to do either of the following:
1) Set up a foreign bank account with a Singapore bank that has a Shanghai branch, which I can use to do bulk fund transfers between my domestic and foreign bank accounts (and hence lower transaction fees), then ibank money to the people in Shanghai.
2) Set up a domestic and foreign bank account with a Chinese bank that has a Singapore branch, that I can use to do bulk fund transfers between my domestic and foreign bank accounts (and hence lower transaction fees), then ibank small amounts regularly to the people in Shanghai.
3) Set up a domestic and foreign bank account with a Chinese bank that has a Singapore branch, whether I can use to do a direct cash deposit in RMB into my foreign bank account, then ibank money to the people in Shanghai.
Or are there any other ways? Thanks for any advice!