The information you need to send money to China includes the recipient's bank account details as well as your bank account or credit/debit card details. You will also need to provide details from your passport or driver's license to verify your identity.
Residents of China may receive money from overseas in different ways.
Transferring funds to a recipient's Chinese bank account is generally the most affordable method. Processing time of such transfers depends on the company processing the transfer, how you pay, as well as the receiving bank. Some of China's top banks that allow incoming international money transfers include Bank of China, Industrial and Commercial Bank of China (ICBC), China Development Bank, and Bank of East Asia China.
What you need to send money to a China bank account.
When sending money to a China bank account, you will need the recipient's full name, the recipient's Chinese bank account number, the name of the receiving bank, and the bank's SWIFT code.
Sending money to China quickly is possible if you turn to a service provider that has cash pick-up locations in the country. You may also use the services of such a company if the recipient does not have a bank account. Some of your options include MoneyGram, Western Union, and Ria.
|MoneyGram cash pick-up locations in China|
Bank of China
95, Xin Hua N Road, Tong Zhou District
Bank of China
89, Xisanhuan N Road, Haidian District
900, A Yishanlu
14, Guanglinyi Road, Hongkou District
|Westren Union cash pick-up locations in China|
Bank of China
No 91, Qianmen Avenue, Chongwen District
Bank of China
2, Dong Jiao Min Xiang, Dong Cheng District
Bank of China
170, West Nanjing Road
Bank of China
176, North Chongqing Road, Huangpu District
You will need to give your service provider the receiver's full name, the recipient's phone number, and the location of a desired cash pick-up center. The recipient may collect the transferred money as cash by presenting a valid form of ID along with a transaction or reference number.
WorldRemit lets its international customers top-up airtime of mobile numbers of Chinese telecom companies such as China Unicom, China Telecom, and China Mobile. UK-based Xeanu offers this service as well.
Residents of China may receive money from overseas in their AliPay accounts. To initiate the transfer, the sender will need to provide the recipient's full name and an AliPay ID. Depending on the company you select, there might be a limit on the number of monthly transfers as well as the transfer amount. Companies that offer this service include TransferWise, WorldRemit and Remitly.
You may send money to recipients in China who have UnionPay cards. UnionPay is a cashless payment method that is adopted by several banks in China. You will need the recipient's full name and a UnionPay card number to carry out the transfer.
Some of the prominent banks that support UnionPay include Bank of China, Bank of Communications, China Construction Bank, and China Everbright Bank. WordRemit and TransferWise let their customers transfer money to UnionPay accounts in China.
The WorldFirst World Account is a multi-currency account that gives account holders access to bank account details in different currencies, including CNH (offshore Chinese yuan). This account may help you save money through low currency exchange fees and favorable currency exchange rates.
With this account, you get to receive payments from customers in China in your CNH-denominated account. You may use funds from the same CNH account to make payments to suppliers, employees, or vendors in China. In addition, you may use the World Account to receive payments through popular online marketplaces such as Alibaba, Amazon, eBay.
The best way to send money to China is transferring it into the beneficiary's local bank account, as this is usually the most affordable method. If the recipient does not have a local bank account, sending money to a cash pick-up location is your next best bet.
The cheapest way to send money to China is to transfer it into the recipient's bank account and make your payment through a bank account transfer. Other payment methods such as debit cards and credit cards typically attract additional fees.
Yes, PayPal works in China. You may use PayPal to send money to China. Residents of China may use PayPal to send and receive money as well as pay for online purchases. Businesses in China may use PayPal to receive payments through popular online marketplaces, their websites, and by using their email address. Xoom, a paypal company, also lets its customers send money to China bank accounts.
Yes, you can transfer money to China bank accounts. Some of the leading companies that let you transfer money to Chinese bank accounts include WorldFirst, OFX, WorldRemit, TransferWise and Payoneer.
Yes, you may wire money to China. However, carrying out wire transfers through banks is typically more expensive than using the services of specialist money transfer companies.
Yes, you can send money to China through Western Union. The recipient may collect the transferred money as cash by visiting a Western Union agent location, or directly into a local bank account.
Yes, you may use your Visa debit card in China. Most ATMs in China accept Visa (Plus), Cirrus, and Maestro cards. These include chip-and-pin cards as well as cards with just magnetic strips at the back. You may also use your Visa card to pay for purchases in China. In both cases, you simply have to look for the Visa logo.
Residents of China can not use TransferWise to send money but you may send money to China through TransferWise. However certain conditions apply (as mentioned below). TransferWise Borderless Account holders may use their accounts to hold and manage CNY. In addition, they can also use their TransferWise debit card in China.
Yes, TransferWise can send money to China. However, you can transfer to CNY only from supported countries. Sending money to businesses in China can only be in USD. TransferWise lets you send money to Alipay accounts.
Yes, Western Union works in China. People who live outside of China may use Western Union to send money to China, either into a recipient's bank account or to be collected at a cash pick-up location. Residents of China may use Western Union to send money overseas - online or by visiting an agent location. To carry out online transfers from China, you will need to register with Western Union's local banking partner first.
Yes, you can send money to China via Western Union. The recipient may receive the money directly in a Chinese bank account or by visiting a cash pick-up location.
The Western Union fee to China depends on multiple factors. These include where you live, the transfer method, the payment method, and the transfer amount.
The corresponding tables give you an indication of the transfer fees if you wish to send $1,000 from the U.S. to China.
Transferring to a cash pick-up center:
|Payment method||Transfer fee|
|Bank account transfer||$26|
Transferring to a Chinese bank account:
|Payment method||Transfer fee|
|Bank account transfer||$14|
Bear in mind that these are only the transfer fees. Western Union also makes money by adding a margin on the existing interbank exchange rate.
Yes, Western Union transfers to China are safe. However, it is best to exercise caution when collecting money from a cash pick-up location, especially if it is a large amount.
WorldRemit lets you send money to China - to any Alipay account, to payment cards, and as mobile airtime top-ups.
Businesses can receive money from China by using multi-currency account solutions. International businesses that pay local Chinese suppliers and remit service/product payments may also benefit by opening multi-currency accounts. The WorldFirst World Account is a global multi-currency service that allows you to receive CNY payments as a local.
Individuals may exchange no more than U.S. $50,000 or its equivalent per year. Chinese authorities have eased currency controls in recent times. However, trading in Chinese renminbi remains restrictive, with there being relatively low limits on how much money one may transfer out of the country. Larger sums of international money transfers are allowed for reasons such as medical fees or foreign tuition fees, but they require prior approval.
Businesses may turn to specialist money transfer companies to carry out fund transfers to China. Companies such as WorldFirst, OFX, and Payoneer let you make business-related transfers to China. Depending on the company you select, you may get access to a multi-currency account as well as hedging tools such as market orders and forward contracts.
You may send money to China from Australia in different ways. While you can transfer money to a bank account in China, you may also get the recipient to collect cash from a physical location. Just about all companies accept payments via bank account transfers, and some also offer other payment methods such as POLi, debit cards, and credit cards. Some of the top companies that let you send money to China from Australia include SendFX, OFX, and WorldFirst.
The leading companies that let you send cash to China include Ria, Western Union, and MoneyGram. If you are looking for a more affordable alternative, you may consider sending money to a recipient's Alipay account. WordRemit and Remitly offer this service.
Yes, you can transfer money from the US to China. You may send money to a recipient's Chinese bank account or to a cash pick-up center. Some of the top companies that send money from the US to China include OFX, WorldRemit, and TransferWise.