How to send money to China from India with the best INR-CNY rate

The exchange rate determines the price you’ll pay for Yuan Renminbi when you send Indian Rupee to China.

The current exchange rate between the Indian Rupee and Yuan Renminbi is 0.0717, and it constantly fluctuates.

When calculating the cost of sending money from India to China, a combination of fees and exchange rates ensure the best deal:

• The Mid-Market and Exchange Rates: The current INR-CNY mid-market rate is 0.0717 CNY per Indian Rupee. Finding a provider as close to this number as possible will ensure more Yuan Renminbi for your money.

• Fees: Transfer fees are charged on top of a transfer. Ria Money Transfer currently offers the lowest fees of 4 INR per transfer (based on ₹22,100 transfer). Although, we recommend searching for your exact send amount for an exact fee.

• Amount Received: The total amount received in Yuan Renminbi is the biggest indicator in the total cost of sending money to India from China. The higher the total amount received in China, the lower the cost of sending from India.

It’s possible that waiting a day or two can help you get more CNY for the same amount of Indian Rupee. But, the best way to lock in a price between India and China is by using a forward contract.

A bank transfer is our recommended option for money transfers between India and China. Ria Money Transfer offers the best price on a bank transfer.

Here are all the ways to send money from India to China:

Bank transfers

Bank transfers are often the best payment method for money transfers from India to China.

A money transfer company like Ria Money Transfer offer bank transfers between India and China with lower fees and better exchange rates than you would get from a traditional bank.

On average, Ria Money Transfer is the cheapest provider for bank transfers of the 5 we tested when sending INR to China.

Debit and prepaid cards

Sending money from India to China with a debit or a prepaid card is very simple with Western Union Agent.


Western Union Agent is a leader in debit card payments for transfers from India to China, competing among a total of 5 active money transfer companies on this route.

Credit cards

We recommend avoiding credit cards where possible due to a lack of support and high fees.

If you have to use a credit card, we recommend comparing your options to find the company with the lowest fees.

Always choose providers that are regulated by financial authorities in both India and China to ensure funds are protected.

Please refer to our directory of financial regulators worldwide for key regulatory bodies for money transfers between India and China.

Some services have minimum or maximum thresholds on how much you can transfer from India to China.

Companies will offer different rates and fees for different transfer amounts. Some companies will become more expensive after certain thresholds are hit.

We’d recommend using Wise if you need to send large amounts of INR to China. The combination of rates and fees when sending to China is the most competitive, even at larger amounts.

Also, always check with the recipient and understand any declarations needed on large amounts of money leaving India, or entering China. Mis-understanding these could result in a slower, or even failed, transfer.

There are different ways to receive money in China. You can do a direct bank deposit, cash pickup, use a mobile wallet or receive money into a multi-currency account. It’s likely not all providers serving transfers from India to China will offer every method, so it’s best to check ahead of time.

A direct transfer to a bank account is one of the more common ways to transfer from India into Yuan Renminbi. Wise is the best company for bank transfers between India and China.

And if you need cash right away, check if cash pickup is an option for transfers between India and China.

Mobile wallet services and payment apps like PayPal, Xoom, and CashApp are popular too, but they come with more limitations and higher costs compared to money transfer providers like Ria Money Transfer.

When signing up to a money transfer company to send between India and China, you will need to verify your ID.

The exact documents you need might vary and in some cases you will need more than one.

For the most part, in India this will be a government ID like a passport or driver's license. In China it will be a similar set of documents, although this should only be needed if you are opening a new account in China, or collecting in cash.

Big transactions between India and China, are subject to additional checks. A provider may ask you for proof of address or may want to know where the money comes from.

We recommend Wise in part due to their easy sign up process in India.

When sending large amounts of money between India and China there will be tax implications to consider.

Some transfers into Yuan Renminbi may need to be reported to tax authorities in China, particularly where inheritance or property purchases are involved.

Tax limits and personal allowances differ in China based on age, income and a few other elements. When in doubt, please contact a tax professional in India or China to discuss your personal circumstances.