How to send money to US from China with the best CNY-USD rate

The exchange rate determines the price you will pay when buying US Dollar in China. A better exchange rate means more Yuan Renminbis being sent to the United States.

The current rate between the Yuan Renminbi and US Dollar is 0.1476.

The total cost of money transfers to the United States from China, is a combination of exchange rates and fees. Sending with a company that can offer a good competitive rate and low (or no) fees is the best way to get a good deal.

• The Mid-Market and Exchange Rates: The current mid-market for CNY-USD is 0.1476 USD per Yuan Renminbi.

• Fees: Some money transfers between China and the United States will be subject to fees. Although you should search for your send amount for actual fees as your scenario may be different.

• Amount Received: Money transfer companies will show you the amount of US Dollar eventually received in the United States.

A safer option if you want to get a particular rate is to use a forward contract, especially for large Yuan Renminbi transfers to United States. This allows you to lock in an agreed exchange rate between China and the United States.

Sending via a bank transfer is the payment method that will get you the best price on a transfer from China to the United States.

Here are all the ways to fund your transfer:

Bank transfer

Bank transfers are often the best and easier way to send money from China to the United States.

By using a money transfer company such as Wise for transfers from China to the United States, you can send money via a bank transfer and benefit from lower fees and more favorable exchange rates than would be offered by a bank. 


Debit and prepaid cards

Sending money from China to the United States with a debit or a prepaid card is easy with .


is a leading money transfer company for debit card payments, and offers transfers from China to the United States.

Credit cards

When it comes to sending money with a credit card from China to the United States, it can get very expensive very quickly due to additional fees.

We recommend sticking to bank transfers or debit card deposits, but if you have to, run a quick comparison to find the right money transfer company that offers credit card deposits.

Companies offering money transfers between China and the United States will have minimum or maximum thresholds on how much you can send or receive across set timeframes.

Exchange rates and fees for different transfer amounts could change and sending regularly could mean losing out.

That’s why it’s best to compare CNY-USD rates for your specific transfer amount.

For regular transfers to the United States to China, shopping around each time can make a huge difference.

For sending large amounts of CNY to United States without hitting a threshold, we’d recommended Wise. They offer a combination of rates and fees when sending from China to the United States that is the most competitive, even at larger amounts.

Be sure to check with the recipient and understand any declarations needed on large amounts of money entering the United States from China.

Options for receiving US Dollar in the United States include direct bank deposit, cash pickup, a mobile wallet or receiving money into a multi-currency account.

Not all of the 2 providers offering transfers from China to the United States will support every method for incoming US Dollar, so it’s best to check ahead of time.

The most common option is to send directly from China to a bank account in the United States. For most part, this is convenient but does have receiving fees to potentially be aware of.

Wise is the best company for bank transfers between China and United States.

Cash pickup is popular in some parts of United States, but not always supported and can be costly compared to cheaper options.

Mobile wallet or P2P services and payment apps like PayPal, Xoom, and CashApp are popular because of convenience, but they come with more limitations and higher costs compared to money transfer providers like Wise.

When sending US Dollars to the United States, through a money transfer company, you will need to verify your ID when signing up.

The documents you need can vary and in some cases you might need a couple of options.

Generally, government issued ID such as a passport or driver's license are accepted in China. If the recipient needs an ID to collect money in the United States, the same applies there. You may also be able use other ID formats, where these aren’t available.

Large transactions between China and United States can be subject to additional checks such as proof of funds for anti-money laundering purposes. This may also require additional ID checks.

One of the reasons Wise as scored so highly for transfers to the United States is their easy sign up process in China.

As well as proof of funds, when sending large amounts of money between China and the United States there will be tax declarations to consider. This is also potentially due to regular transactions.

Some transfers into US Dollar may need to be reported to tax authorities in the United States and China, particularly where inheritance or property purchases are involved.

Tax limits and personal allowances do change in the United States based on age, income and a few other elements. Everyone’s tax obligations are unique - when in doubt, please contact a tax professional in China or the United States.