Send money to China

Wise offers the mid-market CNY rate with transparent fees, making it one of the best options for USD-to-CNY. Remitly and WorldRemit are also competitive. For large amounts, OFX offers preferential rates. Given capital control complexity, using an established regulated provider is important for smooth delivery.

SWIFT transfers to Chinese banks typically take 2–5 business days from initial payment. Wise often delivers within 1–2 business days through its optimised SWIFT routing. Domestic CNAPS processing within China adds a few hours after the international transfer is received by the correspondent bank.

You need the recipient's full name (in Pinyin as on their bank account), account number, and SWIFT code or CNAPS code. Common SWIFT codes: ICBC (ICBKCNBJ), Bank of China (BKCHCNBJ), CCB (PCBCCNBJ), ABC (ABOCCNBJ). You may also need the bank's branch address. China does not use IBAN.

SAFE rules allow each Chinese citizen to convert up to USD 50,000 equivalent of foreign currency per calendar year through their bank. Inbound personal transfers contribute to this limit. For amounts above $50,000, recipients need SAFE approval and documentation proving legitimate purpose (business, education, medical, etc.). This is a recipient-side limit, not a restriction on the sender.

Direct international funding of Alipay and WeChat Pay from foreign countries is restricted. Some providers offer 'Alipay transfers' that actually go via a Chinese bank account linked to the Alipay account. The recipient can then transfer from their bank to Alipay instantly. Western Union and MoneyGram partner with Alipay for some corridors. WorldRemit supports Alipay delivery on select routes.

Genuine personal remittances (e.g. family support, gifts) below the SAFE annual limit are not taxed in China. However, China has been tightening enforcement of its individual income tax rules — large regular receipts that look like income may trigger questions from tax authorities. Recipients should ensure transfers have clear documented purposes. Business income remitted to China is fully taxable.