I don't understand this...are they giving you a better interest rate? Aren't they simply operating as a US bank (if they are FDIC insured). You really aren't investing in the Yuan...
Thanks for the link. Didn't realise that they are allowing you to buy the Yuan and the account is actually in Yuan (though you deposit in USD -- conversion at the time of deposit).
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I don't understand this...are they giving you a better interest rate? Aren't they simply operating as a US bank (if they are FDIC insured). You really aren't investing in the Yuan...
see http://www.bocusa.com/portal/Info?id=649&lang=1&;
Can I buy and sell RMB from/to your bank?
Yes, you can exchange USD for RMB or exchange RMB for USD at our bank.
Thanks for the link. Didn't realise that they are allowing you to buy the Yuan and the account is actually in Yuan (though you deposit in USD -- conversion at the time of deposit).