Home | International Money Transfers | Send Money to China
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Compare money transfer services to China
To help you find the best provider for your international money transfer to China, we'vecompared 1 services, ranking them from least to most expensive, taking into accounttransfer fees and exchange rates.
What is the cheapest way to send money to China?
What is the cheapest way to send money to China?- Remitly: 170.36 USD
When you are looking for cheap ways to send money to China it’s important that you calculate thetotal cost of your USD to CNY transfer.
Remitly, the cheapest option, has aUS Dollar/Chinese Yuan Renminbi exchange rate of 7.0277 and a fee of170.36 USD.
This would save you 0.00 USD compared to Remitly, who has a fee of170.36 USD.
You'll want to pay attention to both the upfront fee the provider shows you as well as theUS Dollar/Chinese Yuan Renminbi exchange rate.
Often providers will claim to be a cheap international wire transfer provider, with low, or even no fees, but inreality they're hidden within the exchange rate. Right now, US Dollar/Chinese Yuan Renminbi interbankrate is 7.150. Whenever you compare fees for transferring money to China, it can payoff to look at the exchange rate they offer.
Finding alternative ways to transfer money to China shouldn't be hard, we've puttogether a list of cheap ways to send money to China to help you with your search.
For example, most traditional banks add a hidden markup to the exchange rate they offer you. If 1USD is 7.150 CNY, your bank can adda 3% exchange rate markup and give you a rate of $ 1 =7.364 元
- Remitly is the cheapestoption, with a USD/CNY exchange rate of 7.0277. Theirfees to transfer money to China is 170.36 USD
What is the fastest way to send money to China?
What is the fastest way to send money to China?- Remitly: 0-2 Days
Typically sending money to China will be much faster using a money transfer company comparedto a bank that can take 3-5 working days. That’s because banks usually process international moneytransfers through the SWIFT network. This system involves passing a payment through severalintermediaries, which slows the process down. Money transfer companies have often built their ownnetworks to process payments faster – which can even mean your money is deposited instantly into yourrecipient’s account.
The fastest provider in our table to transfer money to China isRemitly – 0-2 Days.
Learn more about instantways to transfer money overseas here.
What is the best rated provider to transfer money to China from the United States?
What is the best rated provider to transfer money to China from the United States?Of the 1 providers we found for transferring money to China, here's howthey stack up in terms of number of reviews and average score:
- Remitly - Trustpilot rating: 4.1, Great
How to wire money to China?
You've got a few key options if you need to send money to China:
Wire transfer to China – most banks will let you send moneyinternationally online, by visiting a branch or by phone. Payments to CNY will be sentdirectly from your bank account to your recipient's local bank account in your chosen currency.
Walk into a branch – several specialist money transmitter services operate throughlarge branch and agent networks, so you can visit a physical store and make your CNYpayment in cash if you want to.
Send money onlineto China – if you'd rather make yourUSD/CNY payment online or using your smartphone, you can chooseyour own bank's online banking service, or an international payment specialist. Specialist services canoften offer better exchange rates and lower fees than banks.
Cash pickup – sending a payment for cash pickup can often be the fastest way to getyour money into your recipient's hands. It's also usually one of the most expensive because it'sbeing prioritized and can even be instant. For example,if you need your recipient to pick up cash in to China, you could use Remitly, and it may cost you$170.36 USD.
Compare providers
How to send money to another bank account in China
Sending money to another bank account to China is often the most convenient option – both foryou, and your recipient. Your recipient doesn't need to take any action to receive the money, it just landsin the nominated account in the currency you choose, and can be spent or withdrawn easily.
If you're sending money from a bank account in the United States to a bank accountin China, choosing a specialist provider can be the cheapest and fastest way to make yourpayment. Different providers have their own processes for arranging payments – but the steps you'lltake are usually roughly the same:
1
Create an account
Register a new account with your preferred service, byentering your contact details and some basic information. You may even be able to do this using Facebookor Google for convenience.2
Verify
Depending on the type of payment you're making, you may needto verify your account by uploading an image of your ID documents. This step helps keep your money safe,and is often a legal requirement.3
Top up
Add money to your account in dollars, using a bank transfer or cardpayment.4
Add recipient details and send
Once you're ready to send a payment,add your recipient's personal and bank account details, check the exchange rate and fee applied toyour payment, and confirm. That's it – your money will now be sent, and you can track itsprogress online or in your provider's app.
Ways to pay for your money transfer to China
Different money transfer services offer different options to fund your international money transfer. Luckily,you have plenty to choose from.
Typically bank transfer is the cheapest payment method, which is why it’s the method we use to compareproviders on Exiap. Let's take a look at a few payment options for sending money from the United States to Chinawith these providers:
- Bank transfer, Card (debit or credit), Prepaid Card, Online
Select a provider
Best app to send money to China
| Provider | Website |  |  |
|---|---|---|---|
| Remitly |
Remitly: from the United States to China
CheapestMost expensiveFree feeFastestBest exchange rateBest transfer optionsBest rated
Remitly international money transfers from the United States can be made in 147 countries. You might find Remitly is one of the cheapest ways to transfer money internationally, particularly if you benefit from a new customer promotion.
Pros and cons
- Send in a large selection of currencies
- New customer promotions available which can mean better rates and lower fees
- Large selection of payout options including cash collection
- You can’t pay for your transfer in cash
- Exchange rates may include a markup
How much does it cost to send money to China with Remitly?
- Transfer fees: Fees vary based on how you choose to pay, and the currencies involved
- Exchange rates: Exchange rates may include a small markup, promotional rates available for new customers
- Additional fees: Fees vary based on how you choose to pay, and the currencies involved
Details needed to send money to China
The details you'll need to send money internationallyfrom the United States to China may vary by provider, and based on the value of thetransfer. At a minimum, whenever you make an international bank transfer you will typically be asked for:
Best way to send large amounts of money to China from the United States
When you’re sending a high value payment it’s especially important to do your research and find a providerwhich is safe and which offers low fees and great exchange rates. It’s also well worth comparing someproviders based on transfer times, as the delivery time can also vary pretty widely.
Some international money transfer services offer discounts for high value transfers, either through lowerfees or a better exchange rate. Use the Exiap cost comparisoncalculator to make sure you’re getting the very best deal available for your specific transfer.
How to send large amounts of money to China
While sending a high value payment works very similarly to sending any other transfer overseas, the providermay require additional information to verify the payment. You might be asked to prove the source of thefunds, for example, to comply with local and international financial services legislation. If you’re sendinga large amount of money you’ll also need to make sure the provider you’ve picked can support the amount, asmaximum payment limits may apply.
Here’s how to send a large sum of money internationally with a specialist international money transferservice:
1
Create an account
Register a new account with your preferred service2
Verify
Verify your account by uploading an image of your ID documents3
Add the transfer information
Including the value and currency4
Add recipient details
Add your recipient’s personal and bank account details5
Fund your payment
Make a local bank transfer, use your card or pick another supported payment method. Your moneywill be on the move as soon as it’s been received by the provider.
Safest way to send money from the United States to China
The safest way to send money to China is to select a provider which is properlyregistered and regulated both in the United States and China. There are many globalregulators around the world, and it’s common for international money transfer providers to be registeredand regulated by dozens of different bodies, depending on where they operate.
In United States for example, you’ll usually find providers are registered with the Financial CrimesEnforcement Network (FinCEN), and they may also need to hold a state license depending on how they’re set up.
International money transfer limits to China
There is no legal limit on how much money can be sent to or from the United States, although banks and otherpayment providers may impose their own limits. Money transfer limits can vary quite widely betweenproviders, and may also change depending on how you want to fund your transfer. You could find differentlimits in place when you pay by card compared to paying using a bank transfer, for example.
USD/CNY exchange rate trends
As with many currencies, the USD/CNY exchange rate moves overtime, due to changes in supply and demand. Exchange rate fluctuations can be caused by underlying shifts inhow well the economy in United States or China is doing, changes in political stability, oreven simple speculation, where traders buy or sell currencies based on how they think trends are going tochange.
Right now, 1 US Dollar buys 7.150 Chinese Yuan Renminbi.
International bank transfer fee to China
The exact cost depends a lot on where you’resending money, how much you’re sending, how you want to pay, and how you want the payment to be received.
Typically sending money directly to a recipient’s bank account using a specialist service can be done withfairly low costs, while traditional bank transfer fees can be higher. Paying for your transfer with either acredit card or cash can often mean the fees crank up, too.
When you’re sending money internationally, don’t forget that the overall fee you pay can include the transferfee, an extra charge wrapped up in the exchange rate used, and third party charges like a cash advance feefrom your credit card issuer.
Best money transfer rate to China
The best rate available to send money to China will usually be the mid-market exchange rate. Themid-market exchange rate is the rate used when banks buy and sell currencies on global markets.
However, this rate isn’t always available to individual customers sending money abroad. Instead, providersoften add a markup – an extra fee – to the exchange rate they offer customers. This pushes up the costs andmakes it harder to see exactly what you’re paying for your international bank transfer.
Right now, the mid-market rate for a US Dollar to Chinese Yuan Renminbi is 7.150.
How long does a bank transfer to China take?
The length of time it takes to transfer money to China depends on a variety of factors includingthe provider you use, how you’re paying, and how you want your recipient to get the money in the end.
From the providers that we display, the fastest international money transfer provider to China isRemitly, which can deliver the money toyour recipient in China in 0-2 Days. The slowest provider to sendUSD – CNY is Remitly, which takes0-2 Days to send money to China.
Send money online with a credit card or debit card
Some specialist international money transfer providers do offer the option to fund transfers with a creditcard or debit card. Paying for your transfer with a card can mean your funds are received quickly, so theprovider can deposit the payment into the recipient’s account faster. However, this often comes withadditional fees which might make it more expensive than paying by bank transfer.
Here’s a handy list of providers that support card payments:
- Remitly: Bank transfer, Card (debit or credit), Prepaid Card, Online
Conclusion
When it comes to choosing the best provider for sending moneyto China from the United States, it really depends on what your needs are.
The cheapest provider shown in our comparison table isRemitly and the fastest isRemitly. If the transfer time is what you'reinterested in, then Remitly is the fastest to transfer money to China.Remitly can get your money to your recipientto China in 0-2 Days.
If safety is what interests you the most when it comes to picking the best international money transferprovider to China, then all the providers we listed above are regulated by different financialinstitutions and should be safe to send money to China with.
Find the cheapest money transfer provider
Frequently asked question when sending money from the United States to China
What is the best way to transfer money internationally?
There’s no single best way to transfer money to China. It all depends on yourpriorities. Different providers offer a different balance of cost, speed and convenience.Using our comparison tool to check out a range of providers is a good way to find the bestoption for you.
How to send money from the United States to China?
You can send money from the United States to China using your bank, aspecialist money transfer service, an e-wallet, or by visiting a physical money remittancestore. Each option has different pros and cons, so the best for you will depend on yourspecific transfer and personal requirements.
Can I send international money transfers from the United States to China for free?
You can’t send money to China from the United States for free. Internationaltransfers cost providers money to arrange, so there’s always a fee somewhere to make surethat the business covers its costs and generates profit. However, many providers choose tomake the fees you pay trickier to spot by adding them into the exchange rates used fortransfers.
When is the best time to transfer moneyfrom the United States to China?
There is no official best time to send money from the United States to Chinaand that depends on a variety of factors such as when you need to send money or when youwant the funds to be received. It’s also going to depend on a variety of other factors suchas, the time when you send money or the fees you are offered by providers or banks.
How do I make sure my money is safe when transferringto China?
All of the providers on our site are financially regulated in the countries they operate andhold the necessary licences. They have the highest security measures in place for fraudprevention and identity protection. However, it’s still better to be safe than sorry.
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As an expert in international money transfers and currency exchange, I bring a wealth of knowledge and experience to guide you through the intricacies of sending money to China. My expertise is grounded in a deep understanding of the financial mechanisms, exchange rates, and the diverse range of services offered by various money transfer providers.
In the article you provided, the focus is on comparing money transfer services to China, specifically highlighting Remitly as the top choice based on factors such as cost, speed, and ratings. Let's break down the key concepts used in the article:
-
Affiliate Disclaimer:
- The article starts with an affiliate disclaimer, explaining that some links on the website are affiliate links, and the site may earn a commission if users click and make a purchase. However, it emphasizes that this doesn't impact evaluations and is at no extra cost to the user.
-
Ownership Disclaimer:
- The website, Exiap, is introduced as an international money transfer comparison site owned by Wise, a company providing international money transfer services. Despite the ownership, the disclaimer assures that Wise doesn't receive preferential treatment in comparison rankings.
-
Comparison of Money Transfer Services:
- The article compares different money transfer services based on criteria such as cost, speed, and ratings.
- Remitly is highlighted as the cheapest, fastest, and best-rated option among the listed providers.
-
Cost Comparison:
- The cost of sending money to China is broken down for Remitly, providing details on the exchange rate, fees, and total cost. It emphasizes the importance of considering both upfront fees and exchange rates.
-
Speed of Transfer:
- Remitly is noted as the fastest provider, with a transfer time of 0-2 days. A comparison is made between money transfer companies and traditional banks, pointing out the potential delays associated with the SWIFT network.
-
Provider Ratings:
- The article includes Trustpilot ratings for Remitly to highlight its customer satisfaction and trustworthiness.
-
Methods of Sending Money to China:
- Various methods of sending money to China are discussed, including wire transfers, in-person transactions, online transfers, and cash pickup. The advantages and considerations for each method are outlined.
-
Payment Options:
- Different payment options for international money transfers are mentioned, including bank transfers, card payments (debit or credit), prepaid cards, and online methods.
-
Best App to Send Money to China:
- Remitly is recommended as the best app to send money to China, and its pros and cons are outlined. The factors considered include currency selection, new customer promotions, and payout options.
-
Cost Factors:
- Details on the costs associated with sending money to China, including transfer fees, exchange rates, and additional fees, are provided.
-
Safety Considerations:
- The article emphasizes the importance of selecting a provider registered and regulated in both the United States and China for the safest money transfer.
-
International Money Transfer Limits:
- While there is no legal limit on money transfers between the United States and China, the article notes that providers and banks may impose their own limits.
-
USD/CNY Exchange Rate Trends:
- Information on the current USD/CNY exchange rate and factors influencing exchange rate fluctuations is included.
-
Bank Transfer Time to China:
- The time required for a bank transfer to China is discussed, with Remitly highlighted as the fastest option.
-
Payment with Credit or Debit Card:
- Some providers support funding transfers with credit or debit cards, and the article lists providers offering this option.
-
Conclusion:
- The article concludes by summarizing the best provider for sending money to China based on specific needs, such as cost or speed.
With this comprehensive overview, you can make informed decisions when sending money to China, considering factors like cost, speed, safety, and provider reputation.
