How to Send Money to China Cheaply

Information verified correct on December 6th, 2016

Do you need to send money from the United States to China?China Here’s how to find a quick and affordable way to move your money internationally.

Close to 3.8 million people, or 1.2% of the US population, are classified as Chinese Americans. At the same time, more than two million Americans visited China in 2014, marking it a popular destination for US tourists.

If you’ve landed on this page, chances are you’re looking for information on how to send money to China from the United States. Whether you’re sending money to friends or family, sorting out your financial affairs in China or needing to transfer funds for any other reason, there are plenty of options to choose from to a ensure secure and affordable transfer.

Compare International Money Transfers

Rates last updated December 6th, 2016
Min. Transfer Amount Transfer Speed Services Online Transfer Fee Rate Amount Received
WorldRemit International Money Transfers
An online money transfer service ... with cash pickup, bank account to bank account and airtime transfers available.
USD 1 Within an hour
OnlineCash Transfer
Rates are always
changing, click to check
your price today
Go to site More
World First Foreign Exchange
Transfer money into a range ... of currencies online and over the phone.
USD 500 2 days
OnlinePhone
Rates are always
changing, click to check
your price today
Go to site More
Transferwise International Money Transfers
Make online transfers in a ... range of currencies and enjoy high maximum transfer amounts.
USD 1 1 day
Online
Rates are always
changing, click to check
your price today
Go to site More
HiFX International Money Transfers
Transfer money between 20 currencies ... and enjoy scheduled regular transfers. No fee for transfers over US $5,000.
USD 100 2 days
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
Go to site More
Travelex International Money Transfers
Get your foreign currency delivered ... to your home or pick up at a store.
USD 500 2 days
Online
Rates are always
changing, click to check
your price today
Go to site More
Currencies Direct International Money Transfers
$0 online transfer fee that ... you can access 24/7.
USD 100 2 days
OnlinePhone
Rates are always
changing, click to check
your price today
Go to site More
USForex International Money Transfers
Take advantage of competitive exchange ... rates and cheap transfer fees.
USD 150 1 day
OnlinePhoneAgentInternational Money Order...
Rates are always
changing, click to check
your price today
Go to site More
MoneyGram International Money Transfers
Send money anywhere, from anywhere.
USD 1 Same day
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
Go to site More
TorFX International Money Transfers
TorFX guarantee to beat any ... competitor's exchange rate for a transaction. Conditions apply
USD 100 1 day
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
Go to site More
Western Union Money Transfers
Send money online to friends ... and family around the world with Western Union.
USD 1 Same day
OnlinePhoneAgent
Rates are always
changing, click to check
your price today
Go to site More

Have we missed anything in the comparison table? Tell us

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Banks versus money transfer companies/services

As China’s economy has experienced a boom in recent decades, the Chinese Yuan has become increasingly popular among traders on the global currency market. Many major American banks offer the option of sending funds to China, but banks typically charge high transfer fees and offer exchange rates that are significantly lower than the mid-market rate.

Specialist transfer providers, such as XE and WorldRemit, offer fast, secure and affordable online transfers. They offer better exchange rates than many banks and also charge lower fees, leading to more affordable transactions.

Case Study: Henry sends money to China

Henry has waved goodbye to his parents in China and settled in the United States. However, he’d like to send his family $1,000 as a gift to thank them for the financial support they provided during his education. In an attempt to get the best available deal, Henry decides to compare what two separate online money transfer providers charge for the same transaction.

Money transfer company 1Money transfer company 2
Exchange rate1 USD = 6.13 CNY1 USD = 6.20 CNY
Transfer fee$7$70 for cash within minutes at agent location, $8 for bank account transfer
Transfer methodBank account depositBank account deposit, cash at agent location
Processing time1 business dayWithin minutes or 4-8 business days
Amount received (in Chinese Yuan)6,130 CNY6,200 CNY

As you can see from the comparison, fees vary greatly depending on the service you use and a small difference in exchange rates can mean a big variation in the amount of cash that reaches your recipient.

How to compare transfer companies when transferring money to China

  • Exchange rates. Compare rates between providers to determine how much of the money you send will reach your recipient. However, exchange rates should always be considered alongside the provider’s fees.
  • Transfer fee. Check to see how much you will be charged each time you send a transfer, and remember that different payment and transfer methods (for example paying with a credit card or making cash available for pickup) may attract different fees.
  • Transfer methods. Find out whether you can lodge transfers online, over the phone or by visiting a branch. You should also compare the payment methods available.
  • Transfer options. Can you schedule repeat payments months in advance? Can you place forward contracts to take advantage of an attractive exchange rate?
  • Transfer time. How long will it take your funds to arrive? While some services offer transfers within minutes, others can take several business days for your funds to arrive.
  • Pickup methods. Will the money be sent directly to a bank account in China or can the recipient collect the cash from a local agent location?
  • Minimum amounts. Some companies will impose a minimum limit on transfers, so make sure you’re aware of this before signing up for an account.
  • Customer service. Check to see what customer support options are available so that you can receive help when you need it.
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How to send money to China from America

  • Bank transfers. Many banks will allow you to send an international money transfer to banks in China.
  • Online money transfer services. It’s simple and convenient to send an online money transfer to China from the comfort of home.
  • Money transfer services with cash pickup option. Companies like Western Union and MoneyGram offer the option of sending funds that can be picked up from thousands of agent locations across China.
  • PayPal. Electronic payments giant PayPal allows you to send money from the United States to China.
  • Checks. Sending an international guaranteed check is a secure but slow method of sending funds overseas.
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Emergency cash transfers in China

When you need to send a rapid transfer, you’ll often have to pay an extra fee or receive a lower exchange rate in order to get your funds processed as quickly as possible. With this in mind, it’s important that you check the details of your transfer before you send it, to ensure you know exactly how much you are spending.

Cash pickup locations in China/ Western Union / MoneyGram / Ria branches in China

Western Union, MoneyGram and Ria provide the three largest money transfer networks in the world, with thousands of agent locations around the globe. You’ll need to pass your transaction reference number onto your recipient to allow them to pick up the funds, while they’ll also need to take along photo ID.

Check out the list of popular cash pickup locations below.

Western Union

Beijing

Bank of China

1 Dong Chang An Street

Dong Cheng District

Beijing, Beijing 100738

+86-10-85190600

Open 9am to 5pm seven days a week

Industrial and Commercial Bank of China

Building 15 North Side Of Zhushikoudong Avenue

Dongcheng District

Beijing, Beijing 100050+

86-10-67075313

Open 9am to 5pm seven days a week

Shanghai

Postal Savings Bank of China

176 North Chongqing Road,huangpu Dist

Shanghai, Shanghai 200003

+86-21-63753868

Open 8:30am to 5pm seven days a week

Bank of China

69 Liuhe Road

Shanghai, Shanghai 200001

+86-21-63600991

Open 9am to 5pm seven days a week

MoneyGram

Beijing

Bank of China

175 Yong’an Rd Xuan Wu District

Beijing, 0

861083152312

Open 9am to 5pm Monday to Friday, 10am to 4pm Saturday and Sunday

Bank of China

42 Dong Jing Rd Xuan Wu District

Beijing, 0

861063041912

Open 9am to 5pm Monday to Friday, 10am to 4pm Saturday and Sunday

Shanghai

Industrial and Commercial Bank of China

28 Maji lu

Shanghai, 0

862158696969

Open 9am to 5pm Monday to Friday

Industrial and Commercial Bank of China

99 Nanjing East Road

Shanghai, 0

862163299395

Open 9am to 4pm Monday to Friday

Ria

Beijing

Postal Savings Bank of China

223 Sanjianfang Chaoyang

Beijing BJ

Open 9am to 5pm seven days

Postal Savings Bank of China

Donganmen Street Dongcheng

Beijing BJ

Open 9am to 5pm seven days

Shanghai

Postal Savings Bank of China

907 Xikang Rd

Shanghai SH

Open 9am to 5pm seven days

Postal Savings Bank of China

77 Luoxiang Rd

Shanghai SH

Open 9am to 5pm seven days

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Tips for picking up cash in China

Although China is considered a safe country for American tourists, you should exercise caution when picking up cash from an agent location. Don’t advertise the fact that you have a wallet full of cash, and head to your bank as soon as possible to deposit the funds.


How to send money to China

When you send money overseas you will usually have to register for an account with a money transfer provider. The process for doing this varies between companies but will generally require you to provide your name, address, phone number, email address and proof of identity.

Once you’ve selected your payment option and entered the full details of your transfer, you can lodge your transaction and wait for your funds to arrive. You’ll most likely be given a reference number or receipt which you can use to check the progress of your transfer.

Sending money to China is fast, easy and convenient. Just make sure that you compare a range of transfer options available to you before deciding on the one you’d like to use.

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US International Money Transfers Offers

Learn about our information service
WorldRemit International Money Transfers

An online money transfer service with cash pickup, bank account to bank account and airtime transfers available.

USForex International Money Transfers

Take advantage of competitive exchange rates and cheap transfer fees.

World First Foreign Exchange

Transfer money into a range of currencies online and over the phone.

Transferwise International Money Transfers

Make online transfers in a range of currencies and enjoy high maximum transfer amounts.

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