How to Send Money to China?

Sending money to Chinese suppliers just got easier with online banking! If you want to pay for an item, try sending money to China using a different payment method.

You can send money instantly, while some methods may take 1 to 4 business days. You can quickly transfer money to your business partners using your bank account or credit/debit card, mobile phone or WeChat account.

You all want to save time and money. As an experienced sourcing company, we can help you get what you need without spending hours browsing catalogs or waiting for a customer service representative.

This article will solve your doubts about how to send money to China. 

Let's take a first-hand look at how businesses send money to China. These methods are safe and fast.

You need to weigh the costs and fees against convenience and want to know how to compare the money transfer providers that send money to China to meet your needs.

Both the U.S. dollar or the renminbi remain stable with occasional fluctuations. You can exchange currency in advance; lock in a price, both of which will help you prepare for these transitions.

Sending money across borders always costs you a little extra. And these fees can be hidden in the exchange rate.

In the case of a large remittance amount, the exchange rate will be automatically reduced.

The amount you can send varies by country. Different amounts will attract higher or lower fees. Therefore, you can search for the best price based on the amount of RMB you are searching for.

Transfers via local banks can take over a week or more. If you want fast delivery, you can search for digital specialists who can provide instant transfers to China.

When the exchange rate is favorable, sending money can save money in the future. If you want to send large amounts of money to China, you will need a provider that won't set limits for you.

PayPal is the fastest and most reliable money transfer service among other services. Friendly user experience and global network make it the best choice. You can transfer funds to a family or business overseas. You can view your transfer history when using PayPal.

You need a mobile phone number or email address. Then choose the amount you want to send to complete the transaction. You will be notified when the transfer is successful. PayPal charges a minimum fee for transfers.

PayPal provides users with business accounts and personal accounts.

After selecting the account type, fill out the form to register an account.

Add your bank and card information.

Verify your account with phone number and email, and you can use it to make fund transfers.

You can also use your bank to send money to a business account in China. Wire transfers or bank transfers using SWIFT can also reliably send funds. The transfer fee is between $35 and $45.

You need the recipient's bank name.

You need Code3 or routing number of beneficiary bank.

The recipient's account number.

You can provide the bank with some additional delivery instructions.

Wise is also a reliable money transfer company, allowing you to transfer funds with just a few taps. They don't charge any hidden fees. They use a peer-to-peer system. Wise is also known for offering the best exchange rates for money transfers. The transfer fee is $2.95 plus 1.19% of the gross amount. Remember, they deduct additional fees for credit or debit card transfers.

Sign up for an account, use Facebook and Google accounts, and sign up.

Add the amount you want to transfer.

Select the transfer type. For example, if you send money from a personal account, this is a personal transfer.

Add your address.

Add the recipient's bank details.

Select the transfer type. You will see the cost for each transfer type.

Companies use e-money institutions such as WorldRemit to send money online to China. It charges no fees, but there is a transfer limit of $5,000. It uses spreads, so exchange rates will vary.

Log in or register for your WorldRemit account.

Select the amount and country you want to transfer.

Enter the recipient's details, bank details, name and address.

Pay transaction fees.

If you choose a wire transfer, the recipient will receive the funds within 10 minutes. Suppose the recipient decides to withdraw cash. Recipients need to go to the nearest WorldRemit counter. Present the transaction reference number and receive funds.

The cheapest money transfer company is Remitly. It requires an Alipay account or WeChat account to process transactions. Use Remitly for fast deposits and timely delivery of funds. There is no fee for the first transfer. They charge $3 for every $1000 thereafter.

You can use your credit card to transfer funds to your business partners in China. Use your bank debit or credit card to send funds through your mobile account or visit the nearest branch. Fees for credit card transfers are often high.

Use money transfer specialists like MoneyGram, WorldRemit; Western Union accounts for transfers. They allow you to send money using a credit card. You can link your credit card to your PayPal account and make transfers. The fee is 2.9% of the transaction amount, plus an additional $0.30 per transaction.

International money transfers are safe with Xendpay. Funds will be received in your RMB account within 2-3 business days. Secure online money transfers are possible using the mobile app. Xendpay's website also facilitates money transfers.

Select the country you want to send money to.

Check transfer fees and compare them to other services. You can pay what you want.

You can track your transactions.

The best way to send money overseas is a letter of credit. Use it when selling or buying services or products. A letter of credit is a document in which a bank guarantees payment. Letters of credit provide protection for buyers and sellers. When the other party fails to do so, you get paid from the bank in your bank account.

Letters of credit are like escrow services. They are the third parties that guarantee the transfer of funds. Banks are bound to release funds. Local payments can also be made using letters of credit.

A Western Union account is also a reliable method. Use it to electronically transfer money to banks in China. You will have the funds deposited into your Chinese bank account within approximately four days. China NetExpress needs to pay higher transfer fees. Western Union has an easy-to-use website. You can use it to send or receive money overseas. It also has a $7,000 transfer cap; you'll need to choose another service for larger transactions.

You will need an original valid government-issued ID.

Your name and occupation.

Recipient name and address.

They ask about the purpose of the transaction.

Recipient's bank details (for bank wire transfers).

Wire funds transfers or wire transfers are also secure for transactions with China. It takes two working days. SWIFT also facilitates TT payments. The cost depends on the amount, time, place, regulations, etc., and is guaranteed, but the cost is a bit high.

Visit a branch or use internet banking to make a wire transfer.

The bank requires information about the recipient's bank details.

If the beneficiary accounts are in different banks, the funds will go through more than two banks.

The 10 ways of remittance to China have been introduced in detail above. If you want to know more or you are looking for a Chinese purchasing agent to help you purchase or transport, please contact us.

RND is a professional China sourcing agent that can help you with product inspection and complete the shipping and purchasing process. Our quality control and inspection services make sure you have no quality problems when selling. We ship containers and breakbulk to FBA, 3PL or your own warehouse by air, sea or train in the safest and most economical way. If you have any questions after receiving your order, we ensure that all suppliers can respond promptly. Where there is a problem, there is a satisfactory solution.