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CHINA

Send Money To China

As well as being home to the famous Great Wall, China is also home to a host of other famous buildings, including the Temple of Heaven in Beijing. China is also famous for its number of exports. Green tea is believed to offer a number of beneficial properties, and was such a famous export to England that there were actions taken to ensure that there were better prices and trade concessions available for the importation of Green Tea. China is also the most-populated country in the world, and as such, enforces a one-child policy to try and control the population level moving forward. 
China

Popular money transfer services that send to
china

  • Tramonex
  • WorldRemit
  • Currencies Direct

Currency Used

The currency used in China is officially known as Yuan Renminbi, although you may hear it referred to as ‘Yuan’ and ‘Renminbi.’ While it can be confusing, it all refers to the same currency, so there’s no need to be concerned if any currency exchange platforms refer to it as one of the other. As the Yuan Renminbi is the only currency used in China, you will need to ensure that any cash is converted before heading to China. Those looking to send money to a friend or family member in China can make use of the many currency exchange platforms available online. 

Send Money with Bank Deposit

As explained, those who want to send money to China will need to employ the use of a currency exchange platform. There are many available, and each will offer their own set of rules and features when it comes to sending money abroad. As such, it can be advisable to make use of a comparison site. Rather than you sifting through all the different options yourself, the tool will allow you to tailor search results to your specifications.   

Not only is using a currency exchange solution straightforward to use, it’s also much cheaper than using other providers, such as your bank. To be able to send money via a currency exchange platform, you will need to register. Don’t worry, this is straightforward and can normally be completed in a matter of minutes. Once registered, you simply enter the recipient’s details and how much you would like to send, and the company dealing with the exchange will take care of the rest.   

The charge for sending money to China can differ depending on the provider you use, and the amount being received by the recipient could also differ depending on what the current exchange rates are. Providers will have a number of services in place to ensure that you’re introduced to the best rate, so it’s certainly an avenue worth investigating. 

Send Money Through Cash Pickup

While we’ve touched upon how useful foreign exchange platforms can be, we’ve also pointed out how the tool will allow you to find providers that are able to deal with your request. In some instance, the recipient in China may not be able to collect money from an ATM, and requires an alternative way of collecting the funds.    
As such, you will need to find a provider that can offer a service that allows you to send money from your country, to a collection point in China. In most instances, the same registration details will be required. However, rather than sending the money to a bank account, you will actually be sending it to an outlet in China so I can be collected by the recipient. In some cases, the collection point could be part of another business, in others it could be a dedicated building. Before sending money abroad, it can be worthwhile ascertaining as to what details will be required in order for the cash to be collected. This ensures that whoever you’re sending the money to in China has no problems when it comes to collecting their funds.

Money Transfer Regulations

Depending on the provider you use, you may find that there are some regulations that need to be adhered to when sending money to China. While small transactions shouldn’t pose a problem, those looking to exchange currency in relation to business need to ensure that funds are being transferred in the right way. While a foreign exchange provider will be able to aid you with many aspects of this, it’s important that you follow the advice given. If making the transfer via banking facility, there may be more rules involved depending on the reason why the money is being forwarded. It’s also worth noting that using a bank can be costly, so this can be another reason for choosing an alternative provider when it comes to sending funds to China.