FAQ About Sending Money to China

• What's the cheapest way to send money to China?

  The cheapest way to send money to China is through an online provider. Among the 25 available, Instarem was most often the cheapest provider (in 22.8% of the searches on Monito.com in the past 3 months).

• What are the best providers to send money to China?

  Here are the providers that were the most often the cheapest in the comparisons of the past 3 months on Monito.com:

  • Instarem (cheapest in 22.8% of the searches)
  • Remitly (cheapest in 22.5% of the searches)
  • Wise (cheapest in 17.9% of the searches)
• How much does it cost to send money to China?

  If you send money with the cheapest available provider, the total cost of a transfer to CNY was 1.9% of the transfer amount (including all fees and exchange rates) over the past month. Of course, this figure will vary based on the sending country, the pay-in and pay-out options

  In contrast, the cost of the most expensive option was 6.2% on average.

• What is the cost of making an international transfer to China using my bank?

  The average total cost (including hidden exchange rate markups) of making a transfer to China with banks compared by Monito.com during the past months was 12.6% of the transfer amount. This is 6.8x more expensive than sending money with the cheapest online provider alternative.

• Is Western Union good for sending money to China?

  Western Union is a popular provider with the biggest agent location network. The average cost of online money transfers to China with Western Union* is 1.2% of the amount you send, whereas the cheapest online services have an average cost of 1.9%. Western Union is the provider that is most often the cheapest for money transfers to a cash pick-up location in China.
  
  *Sending money from physical agent locations with Western Union is usually much more expensive than using their online service.

• What's the cheapest cash pick-up provider in China?

  Over the past three months, the provider that was most often the cheapest for cash pick-up transfers in China was Western Union, with an average cost of 2.8% of the amount you send (which includes fees and exchange rate margins).
  
  The average total cost to send to a bank account rather than a pick-up location during the same period was 2.1%. Instarem was the provider most often the cheapest for transfers to bank accounts in China.

• What is the fastest option to send money to China?

  The provider that was most often the fastest on Monito's comparisons over the last three3 months was Remitly (average fastest transfer time: Same day)