How to send money to China from Sweden with the best SEK-CNY rate

An exchange rate determines the price you will pay when buying Yuan Renminbi. A better exchange rate means more money reaching the recipient in China.

The current rate between the Swedish Krona and Yuan Renminbi is 0.6958.

The total cost of money transfers to China from Sweden, 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 SEK-CNY is 0.6958 CNY per Swedish Krona.

• Fees: Some money transfers between Sweden and China will be subject to fees. Regency FX has a fee of 0 SEK based on a 60,000 SEK transfer. 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 Yuan Renminbi eventually received in China.

Waiting a day or two can help you get more CNY for the same amount of Swedish Kronas.

A better option is to use a forward contract can also allows you to lock in an agreed exchange rate between Sweden and China.

Paying via bank transfer is the payment method that will get you the best price with a money transfer company. When sending money from Sweden to China.

Here are the best options:

Bank transfers

A bank transfer is often the default option for money transfers from Sweden to China.

By using a money transfer company such as Regency FX to send money from Sweden to China, you can while benefit from lower fees and more favorable exchange rates than a bank would offer. 


Debit and prepaid cards

Sending money from Sweden to China with a prepaid or debit card is very easy with Wise.


Wise is a great choice for sending money with a debit card from Sweden to China. This is from the 8 money transfer companies compared.

Credit cards

When it comes to credit card transfers from Sweden to China, we recommend comparing your options to get the best deal.

Regulations are important for keeping your money safe, Sweden and China have different regulations to consider.

Our directory of worldwide financial regulators contains details on regulation for money transfers between Sweden and China.

Companies offering money transfers between Sweden and China have minimum or maximum thresholds on how much money you can send.

Rates and fees for different transfer amounts could change if you pass a threshold - that’s why it’s best to compare SEK-CNY rates for your specific transfer amount.

For regular transfers from Sweden to China, shopping around each time can make a huge difference.

We’ve recommended Wise for sending SEK to China, because of their combination of rates and fees when sending from Sweden to China that is the most competitive, even at larger amounts.

Check with the recipient and understand any declarations needed on large amounts of money entering China from Sweden.

There are different ways to receive Yuan Renminbi in China. The most popular options are direct bank deposit, cash pickup, a mobile wallet or receiving money into a multi-currency account.

All providers work differently and not all offering transfers from Sweden to China support every method for receiving Yuan Renminbi so it’s best to check ahead of time.

Sending directly to a bank account in China is one of the most common ways to receive money from Sweden. 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 Sweden and China.

Cash pickup is popular in China, but not always supported and can be costly compared to cheaper options.

Mobile wallet or P2P services and payment apps like PayPal, Zelle, and CashApp are popular because of convenience. They come with more limitations and higher costs compared to money transfer providers like Taptap Send, and are recommended for domestic payments only.

When sending Yuan Renminbi to China, you will need to verify your ID with your chosen money transfer company.

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

For the most part, accepted IDs in Sweden include government issued IDs such as passports or driver's licenses. If the recipient needs an ID to collect money in China, the options are similar.

Large transactions between Sweden and China can be subject to additional checks such as proof of funds for anti-money laundering purposes. These won’t be needing when signing up, but will be need ahead of any transfer.

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

When sending money between Sweden and China there will be tax declarations to consider.

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

Tax limits and personal allowances will change in China based on age, income and a few other elements - such as whether the funds are a gift. Tax law can be confusing, when in doubt, please contact a tax professional in Sweden or China to discuss your personal circumstances to ensure you are not missing any specific tax declarations associated with your international money transfer.