Best companies for SGD/CNY transfers
4 of 4 providers Last updated on 10 November 2026
Based on 7,000 SGD transfer Best companies for SGD/CNY transfers Sort Cheapest
Promoted Wise Pay via Bank transfer	Fee $56.67 1 SGD = 5.2215 CNY +0.05% vs mid-market	Recipient gets ¥36,254.60 Within minutes
25 reviews Multi-currency cardReceive to bank accountDedicated support for large transfers
Ways to receive money in China with Wise when paying by bank transfer. MethodFee & ratesRecipient gets Bank depositWithin minutesAvailable via:Bank Transfer $56.671 SGD = 5.2215 CNY ¥36,254.60You pay$7,000.00
Promoted TorFx Pay via Bank transfer	Fee $0.00 1 SGD = 5.2082 CNY +0.30% vs mid-market	Recipient gets ¥36,457.32 Minutes - 24 hours
2 reviews Personal account managerReceive to bank accountIdeal for buying property abroad
Ways to receive money in China with TorFx when paying by bank transfer. MethodFee & ratesRecipient gets Bank depositMinutes - 24 hours Free1 SGD = 5.2082 CNY ¥36,457.32You pay$7,000.00
Run a live search Showing top Singapore to China deals for 7,000 SGD. Do a live search with your exact amount for today's best rates.
Run a live search Showing companies that send from a business account. Run a business search to get live SGD to CNY rates.
Run a live search These companies offer multi-currency accounts for spending CNY. We suggest doing a live search based on how much SGD you're planning to spend in China.
Run a live search These are managed services with real human support for large SGD transfers. Click the link and update the transfer amount to get the best deal.
TorFx Pay via Bank transfer	Fee $0.00 1 SGD = 5.2082 CNY +0.30% vs mid-market	Recipient gets ¥36,457.32 Minutes - 24 hours
2 reviews Cheapest Personal account managerReceive to bank accountIdeal for buying property abroad
Ways to receive money in China with TorFx when paying by bank transfer. MethodFee & ratesRecipient gets Bank depositMinutes - 24 hours Free1 SGD = 5.2082 CNY ¥36,457.32You pay$7,000.00
OFX Pay via Bank transfer	Fee $0.00 1 SGD = 5.1977 CNY +0.50% vs mid-market	Recipient gets ¥36,384.18 Minutes - 24 hours
7 reviews Personal account managerReceive to bank account
Ways to receive money in China with OFX when paying by bank transfer. MethodFee & ratesRecipient gets Bank depositMinutes - 24 hours Free1 SGD = 5.1977 CNY ¥36,384.18You pay$7,000.00
Wise Pay via Bank transfer	Fee $56.67 1 SGD = 5.2215 CNY +0.05% vs mid-market	Recipient gets ¥36,254.60 Within minutes
25 reviews FastestOur top pick Multi-currency cardReceive to bank accountDedicated support for large transfers
Ways to receive money in China with Wise when paying by bank transfer. MethodFee & ratesRecipient gets Bank depositWithin minutesAvailable via:Bank Transfer $56.671 SGD = 5.2215 CNY ¥36,254.60You pay$7,000.00

Wise Pay via PayNow	Fee $56.67 1 SGD = 5.2215 CNY +0.05% vs mid-market	Recipient gets ¥36,254.60 Within minutes
25 reviews Multi-currency cardReceive to bank accountDedicated support for large transfers
Ways to receive money in China with Wise when paying by paynow. MethodFee & ratesRecipient gets Bank depositWithin minutesAvailable via:Bank Transfer $56.671 SGD = 5.2215 CNY ¥36,254.60You pay$7,000.00
Moneycorp Pay via Bank transfer	Fee $0.00 1 SGD = 5.1507 CNY +1.40% vs mid-market	Recipient gets ¥36,055.08 Minutes - 2 days
0 reviews
Ways to receive money in China with Moneycorp when paying by bank transfer. MethodFee & ratesRecipient gets Bank depositMinutes - 2 days Free1 SGD = 5.1507 CNY ¥36,055.08You pay$7,000.00
Wise Pay via Debit card	Fee $373.03 1 SGD = 5.2215 CNY +0.05% vs mid-market	Recipient gets ¥34,602.72 Within minutes
25 reviews Multi-currency cardReceive to bank accountDedicated support for large transfers
Ways to receive money in China with Wise when paying by debit card. MethodFee & ratesRecipient gets Bank depositWithin minutesAvailable via:Bank Transfer $373.031 SGD = 5.2215 CNY ¥34,602.72You pay$7,000.00
How Our Results Work Mid-market rate: 1 SGD = 5.2239 CNY Updates every 60 minutes.

Why compare

SGD/CNY exchange rate

Best ways to pay & receive

Transfer speed

How to send money from Singapore to China

Pick a company

I suggest starting with TorFx which is the cheapest option for sending S$7,000.

TorFx was the cheapest on 30 of the 30 days it quoted S$7,000 transfers to China.

Fund your transfer

There are 3 methods to fund the transfer from Singapore, including bank transfer, PayNow, and debit card.

Where possible, use PayNow to fund your account, it is usually free and takes seconds.

Verify and send

Before you can send money to China, you'll need to verify your account using Singpass, or a passport and pass if you're not a resident.

Compare amounts

How much SGD are you sending to China?

How much SGD you send to China heavily affects the best ways and the cheapest options. Use the table below to check how the cheapest options change and how much more you'd get by comparing.

Our analysis shows TorFx was the cheapest in 51% of the transfers from S$5,000 it quoted, and in 51% of all the transfers it quoted.


$1,000	0.06%	$0.00	¥5,220.30with paynow to bank deposit	+¥80.74
$5,000	0.65%	$0.00	¥25,947.78with bank transfer to bank deposit	+¥342.30
$7,000This page	0.30%	$0.00	¥36,457.32with bank transfer to bank deposit	+¥455.90
$10,000	0.27%	$0.00	¥52,092.66with bank transfer to bank deposit	+¥676.99

Mid-market rate: 1 SGD = 5.2239 CNY

SGD/CNY Exchange Rate History

Is today a good time to send money from Singapore to China?

The cheapest way to send SGD to CNY can change every day, or stay with the same company all month.

We've compared the mid-market rate with the cheapest option each day (today it's TorFx), across 30 days of comparisons for 7,000 SGD transfers to China.

Each line shows what the recipient gets when you send $7,000, after fees, as quoted by each company. The mid-market line shows what $7,000 converts to at the real exchange rate, with no fees or markup. Rates are checked once a day. Sponsored placements never affect this data. There are no bank quotes for this period.

The dashed line is what you'd get at the mid-market rate with no fees, and the blue line is the cheapest option that day.

When the blue line goes above the dashed one, you're getting more CNY per SGD than the mid-market rate can offer.

This could be due to money transfer offers, FX rate adjustments, or market competitiveness.

No company, app or bank beat the mid-market rate over the past month, meaning you lose a bit of CNY on every transfer from Singapore.

Right now, TorFx pays 36,457.32 CNY on 7,000 SGD, which is 109.70 CNY less than the mid-market amount.

Today's payout isn't the best this month though, since the highest receive amount was 36,508.28 CNY.

If you can wait and want to get the most out of your transfer, create a rate alert and we'll let you know when the rate improves.

Cheapest over time

Picking the cheapest money transfer company

Just because a company is the cheapest today doesn't mean it's always the best option for sending money to China.

We've tracked 119 comparisons to check how often today's top companies were the cheapest across 4 amounts over the past month.

TorFxAppeared in 59 comparisons
Cheapest in 51% of them
OFXAppeared in 113 comparisons
Cheapest in 29% of them
WiseAppeared in 119 comparisons
Cheapest in 5% of them

Based on 119 comparisons across 4 amounts over the last 30 days.

Different companies can come out cheapest depending on the day and the amount you send.

To keep things fair, we only count the comparisons each company appeared in, and only analyse companies that appeared in at least 50% of all comparisons (so occasional cheapest options don't skew it).

Today TorFx is the cheapest and gets you the most CNY, and it was also the cheapest in 51% of the 59 comparisons it appeared in over the past month.

It's a good pick for both one-off and regular transfers to China.

OFX (today's second cheapest) was the cheapest in only 29% of its comparisons, so it's rarely the cheapest option for transfers to China.

Ways to send money from Singapore to China

There are 5 ways to send money to China across 4 money transfer companies.

Cheapest way to send money

Online transfers

Sending CNY from Singapore with a specialist like Wise is quick, easy, and cheap.

You sign up online or through the app, verify account details, enter the amount, fund your transfer, and click send.

Wise charges S$56.67 to send S$7,000, delivering 36,254.60 CNY after a 0.05% markup.

In our comparisons over the past month, it was the cheapest online service on 30 of the 30 days it quoted.

Large transfers from Singapore

Currency brokers

Brokers are the best for large SGD transfers to China.

A currency broker can quote a lower margin on large SGD to CNY transfers and help with the paperwork and the entire process.

For example, TorFx charges an exchange-rate markup of around 0.3% and no fees.

Our analysis shows TorFx was the cheapest broker in 51% of the transfers from S$5,000 it quoted.

Large transfers may be held briefly for Singapore’s anti-scam checks, so if your transfer is time sensitive, start the process a bit earlier.

Regular spending abroad

Multi-currency accounts

A multi-currency account like Wise lets you convert SGD to CNY before travelling or paying your own bills overseas.

And you can hold both currencies in one account.

Wise will get you 36,254.60 CNY after fees when converting 7,000 SGD.

Over the past month, it came out cheapest among multi-currency accounts on 100% of days.

Ways to fund SGD and receive CNY in China

With TorFx, paying by bank transfer and receiving through bank deposit is the cheapest combination. Sending S$7,000 gives your recipient 36,457.32 CNY.

Pay in SGD through bank transfer, PayNow, and debit card.

Funding the transfer with PayNow

This is the quickest and simplest way to pay for your transfer to China from Singapore.

Scan the company's PayNow QR code or use its registered identifier.

In China, they can receive CNY using bank deposit.

1

Bank transfer Bank deposit

You pay S$7,000.00

元36,457

Cheapest
2

PayNow Bank deposit

You pay S$7,000.00

元36,255

-元203
3

Debit card Bank deposit

You pay S$7,000.00

元34,603

-元1,855

Things to know before sending SGD to China

Consider these things before sending money from Singapore to China.

Compare SGD/CNY transfers

For a S$7,000 transfer to China, these are the best options to start with:

Cheapest: TorFx, funded by bank transfer with bank deposit for the payout. Your recipient gets 36,457.32 CNY, which is 0.2% more than the next best option.
Fastest: Wise, funded through bank transfer with bank deposit for the payout. Your recipient gets 36,254.60 CNY in within minutes.

SDIC protection

Eligible SGD deposits at participating banks are insured by SDIC up to S$100,000 per depositor and bank.

A balance with a non-bank transfer company is not a bank deposit and does not receive the same cover, even when the company is MAS-licensed.

When unsure, check the legal company in the MAS Financial Institutions Directory before paying.

How we analyse the market

Every company here holds a MAS licence, which you can check yourself on the MAS register.

We track 4 of them on SGD to China, refreshed in real time on live searches, and compare on the amount that arrives rather than the headline fee.

In the past 30 days alone, we analysed 119 comparisons across 4 amounts.

This page covers the cheapest and fastest options for SGD/CNY transfers. This is how we pick them:

Cheapest: the company that gets your recipient the most, after fees and the exchange rate. On a tie, live pricing from the company takes priority over the rates we collect by hand.
Fastest: the company with the shortest estimated delivery time once you’ve paid. On a tie, the one that pays out more takes priority.

Each goes through our review. More on who we are, why you can trust us and how to get started.

Any tax information is for general guidance only and does not constitute tax advice. Speak to a qualified tax adviser about your circumstances.

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Mon, 12 Oct 2026	Exchange rate	Fee	Recipient gets	Difference
Mid-market rate	5.2288	–	¥36,601.42
TorFx Cheapest	5.2131	$0.00	¥36,491.62	−¥109.80
OFX	5.2026	$0.00	¥36,418.42	−¥183.00
Wise	5.2297	$56.66	¥36,311.59	−¥289.83

Tue, 13 Oct 2026	Exchange rate	Fee	Recipient gets	Difference
Mid-market rate	5.2258	–	¥36,580.40
TorFx Cheapest	5.2101	$0.00	¥36,470.66	−¥109.74
OFX	5.1996	$0.00	¥36,397.50	−¥182.90
Wise	5.2292	$56.66	¥36,307.91	−¥272.49

Wed, 14 Oct 2026	Exchange rate	Fee	Recipient gets	Difference
Mid-market rate	5.2251	–	¥36,575.83
TorFx Cheapest	5.2094	$0.00	¥36,466.11	−¥109.72
OFX	5.1990	$0.00	¥36,392.95	−¥182.88
Wise	5.2257	$56.66	¥36,283.95	−¥291.88

Thu, 15 Oct 2026	Exchange rate	Fee	Recipient gets	Difference
Mid-market rate	5.2180	–	¥36,526.35
TorFx Cheapest	5.2024	$0.00	¥36,416.77	−¥109.58
OFX	5.1920	$0.00	¥36,343.72	−¥182.63
Wise	5.2181	$56.67	¥36,231.27	−¥295.08

Fri, 16 Oct 2026	Exchange rate	Fee	Recipient gets	Difference
Mid-market rate	5.2224	–	¥36,556.93
TorFx Cheapest	5.2068	$0.00	¥36,447.26	−¥109.67
OFX	5.1963	$0.00	¥36,374.14	−¥182.79
Wise	5.2212	$56.67	¥36,252.79	−¥304.14

Sat, 17 Oct 2026	Exchange rate	Fee	Recipient gets	Difference
Mid-market rate	5.2189	–	¥36,532.48
TorFx Cheapest	5.2033	$0.00	¥36,422.88	−¥109.60
OFX	5.1928	$0.00	¥36,349.81	−¥182.67
Wise	5.2253	$56.66	¥36,280.76	−¥251.71

Mon, 19 Oct 2026	Exchange rate	Fee	Recipient gets	Difference
Mid-market rate	5.2299	–	¥36,609.59
TorFx Cheapest	5.2143	$0.00	¥36,499.77	−¥109.82
OFX	5.2038	$0.00	¥36,426.55	−¥183.04
Wise	5.2223	$56.67	¥36,259.94	−¥349.65

Tue, 20 Oct 2026	Exchange rate	Fee	Recipient gets	Difference
Mid-market rate	5.2245	–	¥36,571.61
TorFx Cheapest	5.2088	$0.00	¥36,461.89	−¥109.72
OFX	5.1984	$0.00	¥36,388.75	−¥182.86
Wise	5.2247	$56.66	¥36,276.80	−¥294.81

Wed, 21 Oct 2026	Exchange rate	Fee	Recipient gets	Difference
Mid-market rate	5.2256	–	¥36,579.03
TorFx Cheapest	5.2099	$0.00	¥36,469.29	−¥109.74
OFX	5.1994	$0.00	¥36,396.13	−¥182.90
Wise	5.2275	$56.66	¥36,296.17	−¥282.86

Thu, 22 Oct 2026	Exchange rate	Fee	Recipient gets	Difference
Mid-market rate	5.2312	–	¥36,618.13
TorFx Cheapest	5.2155	$0.00	¥36,508.28	−¥109.85
OFX	5.2050	$0.00	¥36,435.04	−¥183.09
Wise	5.2282	$56.66	¥36,301.03	−¥317.10

Fri, 23 Oct 2026	Exchange rate	Fee	Recipient gets	Difference
Mid-market rate	5.2259	–	¥36,581.31
TorFx Cheapest	5.2102	$0.00	¥36,471.57	−¥109.74
OFX	5.1998	$0.00	¥36,398.41	−¥182.90
Wise	5.2220	$56.67	¥36,257.86	−¥323.45

Sat, 24 Oct 2026	Exchange rate	Fee	Recipient gets	Difference
Mid-market rate	5.2299	–	¥36,609.14
TorFx Cheapest	5.2142	$0.00	¥36,499.31	−¥109.83
OFX	5.2037	$0.00	¥36,426.09	−¥183.05
Wise	5.2179	$56.67	¥36,229.67	−¥379.47

Mon, 26 Oct 2026	Exchange rate	Fee	Recipient gets	Difference
Mid-market rate	5.2223	–	¥36,556.28
TorFx Cheapest	5.2067	$0.00	¥36,446.61	−¥109.67
OFX	5.1962	$0.00	¥36,373.50	−¥182.78
Wise	5.2152	$56.67	¥36,210.65	−¥345.63

Tue, 27 Oct 2026	Exchange rate	Fee	Recipient gets	Difference
Mid-market rate	5.2053	–	¥36,437.23
TorFx Cheapest	5.1897	$0.00	¥36,327.91	−¥109.32
OFX	5.1793	$0.00	¥36,255.04	−¥182.19
Wise	5.2058	$56.68	¥36,145.67	−¥291.56

Wed, 28 Oct 2026	Exchange rate	Fee	Recipient gets	Difference
Mid-market rate	5.2019	–	¥36,413.34
TorFx Cheapest	5.1863	$0.00	¥36,304.10	−¥109.24
OFX	5.1759	$0.00	¥36,231.28	−¥182.06
Wise	5.2014	$56.68	¥36,115.12	−¥298.22

Thu, 29 Oct 2026	Exchange rate	Fee	Recipient gets	Difference
Mid-market rate	5.2054	–	¥36,437.80
TorFx Cheapest	5.1898	$0.00	¥36,328.49	−¥109.31
OFX	5.1794	$0.00	¥36,255.61	−¥182.19
Wise	5.2018	$56.68	¥36,117.90	−¥319.90

Fri, 30 Oct 2026	Exchange rate	Fee	Recipient gets	Difference
Mid-market rate	5.2129	–	¥36,490.52
TorFx Cheapest	5.1973	$0.00	¥36,381.05	−¥109.47
OFX	5.1869	$0.00	¥36,308.06	−¥182.46
Wise	5.2113	$56.67	¥36,183.64	−¥306.88

Sat, 31 Oct 2026	Exchange rate	Fee	Recipient gets	Difference
Mid-market rate	5.2089	–	¥36,461.99
TorFx Cheapest	5.1932	$0.00	¥36,352.60	−¥109.39
OFX	5.1828	$0.00	¥36,279.68	−¥182.31
Wise	5.2064	$56.68	¥36,149.70	−¥312.29

Mon, 2 Nov 2026	Exchange rate	Fee	Recipient gets	Difference
Mid-market rate	5.2102	–	¥36,471.19
TorFx Cheapest	5.1945	$0.00	¥36,361.78	−¥109.41
OFX	5.1841	$0.00	¥36,288.83	−¥182.36
Wise	5.1999	$56.68	¥36,104.43	−¥366.76

Tue, 3 Nov 2026	Exchange rate	Fee	Recipient gets	Difference
Mid-market rate	5.1941	–	¥36,358.60
TorFx Cheapest	5.1785	$0.00	¥36,249.53	−¥109.07
Wise	5.2129	$56.67	¥36,195.02	−¥163.58
OFX	5.1681	$0.00	¥36,176.81	−¥181.79

Wed, 4 Nov 2026	Exchange rate	Fee	Recipient gets	Difference
Mid-market rate	5.2205	–	¥36,543.32
TorFx Cheapest	5.2048	$0.00	¥36,433.69	−¥109.63
OFX	5.1944	$0.00	¥36,360.60	−¥182.72
Wise	5.2206	$56.67	¥36,248.07	−¥295.25

Thu, 5 Nov 2026	Exchange rate	Fee	Recipient gets	Difference
Mid-market rate	5.2251	–	¥36,575.53
TorFx Cheapest	5.2094	$0.00	¥36,465.80	−¥109.72
OFX	5.1989	$0.00	¥36,392.65	−¥182.88
Wise	5.2257	$56.66	¥36,283.74	−¥291.79

Fri, 6 Nov 2026	Exchange rate	Fee	Recipient gets	Difference
Mid-market rate	5.2239	–	¥36,567.17
TorFx Cheapest	5.2082	$0.00	¥36,457.47	−¥109.70
OFX	5.1978	$0.00	¥36,384.33	−¥182.84
Wise	5.2092	$56.67	¥36,169.40	−¥397.77

Sat, 7 Nov 2026	Exchange rate	Fee	Recipient gets	Difference
Mid-market rate	5.2054	–	¥36,438.01
TorFx Cheapest	5.1898	$0.00	¥36,328.70	−¥109.31
OFX	5.1794	$0.00	¥36,255.82	−¥182.19
Wise	5.2021	$56.68	¥36,119.78	−¥318.23

Sun, 8 Nov 2026	Exchange rate	Fee	Recipient gets	Difference
Mid-market rate	5.2050	–	¥36,435.17
TorFx Cheapest	5.1894	$0.00	¥36,325.86	−¥109.31
OFX	5.1790	$0.00	¥36,252.99	−¥182.18
Wise	5.2021	$56.68	¥36,119.78	−¥315.39

How to send money to China from Singapore with the best SGD-CNY rate

Best companies for SGD/CNY transfers