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Send money to China

Secure, low-cost ways to transfer funds to China.

Expats from China who have chosen Malaysia as their new home are often in need of a quick way to send money to family members. This could be to help out in an emergency, to take care of monthly bill obligations, or send back profit from investments in Malaysia.

Many Malaysians also look towards the future and invest in Chinese businesses and property. If this applies to you, you may want to consider conducting a simple comparison between money transfer companies and products available in China.

Send money to China with InstaReM

Exclusive: Use code FINDER10 to receive US$10 off your first transaction.

InstaReM offers simple transfers with a flat 0.5% transfer fee for most transfers.

  • Low transfer fees
  • Zero-margin exchange rates
  • Same or next business day transfer
  • Earn loyalty points on sign up, referral and every transaction

Compare ways to send money to China

Use our comparison calculator to assess transfer fees, exchange rates and other details for sending funds with our money transfer partners.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 1 Same day MYR 3.99 1.51 CNY
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Go to site Show details
USD 200 1 day MYR 25.00 1.512 CNY
Exclusive: Use code FINDER10 to receive US$10 off your first transaction.
InstaReM offers simple transfers with a flat 0.5% transfer fee for most transfers.
Go to site Show details
USD 120 1 - 2 days MYR 5.00 1.506 CNY
Malaysia-based MoneyMatch offers competitive exchange rates for overseas money transfers from MYR to more than 70 countries. Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

What’s the best way to send money to China?

Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to China. Some offer transfers straight to Chinese bank accounts, while others allow the money to be picked up in Chinese yuan in person. Banks, PayPal and other options are available but come with high fees, weak rates and longer turnaround times.

Digital money transfer services

Companies like InstaReM and Wise specialise in foreign currencies, making them some of the most cost-effective transfers. Most offer transfers directly to your recipient’s Chinese bank account, often in as little as a day or two.

Cash transfers

Services like Western Union and MoneyGram allow you to transfer cash for pickup at a local branch in China— often in 15 minutes. While it’s a fast way to send money, compare these options to digital services like WorldRemit or Wise when possible.


Chinese yuan may be carried by your bank, especially if you visit the main branches offering international service. Although your local bank can convert your Malaysian ringgit into Chinese yuan, beware of high fees and wide margins on the exchange rate compared to digital and other options.

Let’s crunch the numbers: Sending RM5,000 to China

Let’s say you need to send RM5,000 to family in China. Here’s what you might face as far as fees and exchange rates as of 21 November 2020.

Digital money transfer serviceCash transferBank transfer
FeeRM37.50RM10RM30 + additional correspondent bank fees
Exchange rate1 MYR = 1.6005 CNY1 MYR = 1.5446 CNY1 MYR = 1.5822 CNY
Transfer speed1-2 dayMinutes2-5 days
Amount receivedCNY¥7,942CNY¥7,707CNY¥7,863
  • Best value
  • Fastest but weakest exchange rate
  • Slowest

The bank option ends up being the slowest. If you go with the digital money transfer service, your recipient ends up with CNY¥79 more than the bank offers. If speed is crucial, a cash transfer can typically have your transfer to China in as little as 15 minutes. However, this option gets the smallest amount of money to your recipient due to its weak exchange rate.

How to send money to China online

Sign up and send money with a digital money transfer specialist in four steps:

  1. Sign up for a free account. Pick a provider and sign up for a free online account using your contact information, proof of ID and your preferred payment method.
  2. Provide transfer details. Submit your recipient’s contact information and pick a delivery method. If you’re transferring to a bank, you’ll need your recipient’s Chinese bank account details.
  3. Confirm transfer details. Double-check your payment method, expected fees and destination.
  4. Save your receipt. Record your receipt’s confirmation number to track the progress of your transfer to China. Some money transfer providers send a text or email when your transfer is complete.

How to get the most out of your money transfer to China

Weigh costs and fees against convenience, and learn how to compare money transfer providers that send to China to meet your needs:

  • Exchange rates. The MYR-CNY remains relatively stable, with occasional shifts on a larger scale. Exchanging currency ahead of time, or locking in prices, can help you prepare for these shifts.
  • Transfer fees. Transferring money overseas nearly always requires fees, but they might be hidden in the exchange rate. When sending large amounts, it may be cheaper to pay a flat fee to secure a stronger exchange rate.
  • Transfer limits. How much you can send varies by company, and different amounts can attract higher or lower fees. Shop around for the best deal on the amount of Chinese yuan you’re sending.
  • Turnaround. Transferring money through a local bank can take a business week or longer. If you need the funds delivered quickly, seek out a digital specialist that offers instant transfers to China.
  • Maximum limits. When exchange rates are favourable, sending more money can save you money in the future. If you plan to send large amounts of money to China, be sure to pick a provider that won’t limit you.
  • Transfer methods. Whether you want money sent to a Chinese bank account or picked up as cash at a local agent, narrow down a company that matches your preferred delivery method.

Emergency cash transfer to China

When it’s more important to get your money to China quickly, look for money transfer companies that support cash pickup in minutes. You can pay with a credit or debit card for fast pickup, but fees are higher than other methods.

How to send money to China without a bank account

Cash transfer services can help you if you’re unbanked or marginally banked. If you don’t have a bank account, look for a local company that supports storefronts for cash payments. These services include agent locations in other countries that allow your recipient to pick up cash without a bank account.

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China’s exchange rates explained

The exchange rate determines how much one country’s currency is worth in another country’s currency. When a country’s currency is strong, it yields more money when exchanging it in a country with a weaker currency. China’s exchange rate doesn’t often fluctuate when compared to the Malaysian ringgit, so expect relatively stable exchange rates between these two currencies. Factors that influence the exchange rate include interest rates, economic stability and inflation.

Track how the Chinese yuan trades against the Malaysian ringgit in our historical rate chart.

Today’s exchange rate MYR to CNY


Documents needed for sending to and receiving money in China

To send money to China from Malaysia, you’ll need government-issued ID and other documents, while documents needed to pick up money in China may be different by company.

Documents to send money from Malaysia

To send money from Malaysia to China, you’ll need documentation and details that include:

  • Identification. Most services require a driver’s licence, passport or other government-issued ID. Some services allow you to send transfers without ID, but they may require other details.
  • Payment method. Your service may accept credit or debit cards, cash, bank accounts or personal cheques.
  • Recipient information. Submit your recipient’s name as it appears on their ID, along with their phone number, Chinese bank account and routing number if sending to their bank.

Documents to receive money in China

To pick up money in person, documentation can include:

  • Transfer number. The person sending you money can forward the transfer’s confirmation details — called a PIN, a MTCN, a reference number or a tracking number, depending on the company.
  • Government-issued ID. A China Identification Card, a passport (excluding Hong Kong, Macau and Taiwan passports), or a Mainland Travel Permit (for Hong Kong, Macau, and Taiwan residents only) will be accepted for identification for most money transfer cash pickups.
  • Amount sent. You may need to know how much was sent, usually within 10% of the total.
  • Sender’s information. Take along your sender’s full name, the sending country and their address, if known.

Bottom line

Sending your hard-earned money to China shouldn’t cost a fortune. Compare transfer companies that specialise in foreign for the strongest rates, lowest fees and flexible delivery. For transfers to other countries, rely on our country specific guides the next time you need to make a transfer.

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