Best ways to send money to China from Taiwan
🏅 The overall best way to send TWD to China: WorldRemit
💲 The cheapest way to send money to China from Taiwan: WorldRemit
⏲️ The fastest way to send money to China from Taiwan: WorldRemit
🏦 The best way to send money from Taiwan to China via a bank transfer: WorldRemit
💳 The best provider for credit card transfers from Taiwan to China: WorldRemit
💳 The best provider for debit card transfers from Taiwan to China: WorldRemit
TWD to CNY
When transferring funds from TWD to CNY it is worth first familiarising yourself with the measures in place for residents of the People’s Republic of China. Almost every country in the world monitors incoming international money transfers, in the interest of curbing money laundering and eradicating tax evasion. The Chinese government is no different, and has strict measures in place, designed to rule and regulate transfers from overseas beneficiaries and vendors.
These financial regulations, developed by the People’s Bank of China (PBOC) and the State Administration of Foreign Exchange (SAFE), consist of different legalities depending on your transfer size, payment method and currency pairing: it is crucial customers comply with these laws.
CNY is one of the most commonly-traded currencies on the foreign exchange market and therefore plenty of money transfer operators accommodate remittances to China. In order to guarantee compliance with the relevant regulations - especially when sending large sums of money - we advise customers to seek the help of a tax specialist well-versed in cross-border payments from Taiwan to China.
Choosing the best service provider
When weighing up the options for how to send money from Taiwan to China there are some key areas to consider.
Even though money transfer providers are not banking institutions, in the eyes of the Chinese government they remain under anti-money laundering law control. Customers sending money from Taiwan to China can learn more about the specific anti-money laundering obligations of money transfer providers by researching the Administrative Measures on Payment Service of Non-financial Institutions issued by the People’s Bank of China.
The fastest international transfer provider to China is WorldRemit. The cheapest provider we found is WorldRemit at undefined% Above Mid-Market Rate.
If you’re looking for the best combination of price, speed, and reliability we recommend using WorldRemit when transferring TWD to CNY.
This means that by using WorldRemit for online money transfers to China from Taiwan, you are likely to save on transfer fees and benefit from fast speeds - so your recipient will get more money and have it delivered in less time.
Alternatively, if you are unable to access WorldRemit for any reason, our comparison engine has found and also to be very good options when sending TWD - CNY.
The cheapest way to send money from Taiwan to China
Money transfers to China can prove expensive if customers choose the wrong providers. In order to avoid high fees, you should consider the cheapest way to send from Taiwan to China. WorldRemit has been determined by our comparison engine to be currently offering you the cheapest rates possible.
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The fastest way to send money from Taiwan to China
When sending money from Taiwan to China, speed is one of the biggest factors you need to consider in terms of the service offered by different money transfer providers. Currently, WorldRemit is the fastest way to send TWD - CNY.
What payment methods are available when sending money from Taiwan to China?
Most money transfer providers allow you to deposit and send money using various payment methods, but not all providers offer every option. Typically you’ll find the most common methods are bank transfers and card payments, but many providers also accept cash and some will even deliver funds straight to your recipient’s door.
Sending money to China from Taiwan using credit card
To avoid high fees you can opt to use an online money transfer provider such as WorldRemit to pay for your transfer to China.
Sending money to China from Taiwan using a debit card
With WorldRemit you can send money online to China using your debit card. But before making a payment, make sure you understand all the processing fees in place.
Using a wire transfer to send money from Taiwan to China
Bank and wire transfers are the most common ways of sending money China as they are secure, reliable, and convenient. However, they often come with the slowest delivery times in case speed is an important factor for you. You can use WorldRemit to send money using a bank or wire transfer at a great rate as long as you’re happy for your transfer to take 1-2 days.
If you want to make an international transfer using wire transfer, you will need to know the SWIFT/BIC code of your recipient in China. If you're unsure what it is, check out our SWIFT calculator to figure out the correct SWIFT code in China.
When sending money to China from Taiwan using bank account transfer you are paying for the outgoing fees, flat fees, currency exchange rate markup, and sometimes an additional incoming transfer fee.
On the other hand, you usually only pay a sender fee and a small exchange rate markup when using online money transfer services such as WorldRemit, and .
Considerations for a TWD - CNY Currency Transfer
Before sending money to China from Taiwan, you should consider the following:
The amount you want to transfer: It is likely that the more money you send to China the more value you will get and more CNY the recipient will receive. This is because any flat fee charged ends up as a smaller percentage of your transfer amount, and also because many providers allow you to negotiate a better exchange rate margin if sending large amounts.
The TWD - CNY exchange rate margin: Money transfer providers charge a small percentage on top of the mid-market exchange rates in order to generate revenue. Current mid market rate is 0.226863 and the lowest exchange rate margin is currently offered by WorldRemit at undefined% above the mid market rate.
Hidden fees & charges: Before sending money to China, make sure the provider you are using doesn’t charge any hidden fees. Our reviews of the top ranked providers WorldRemit, undefined and undefined will give insight here.
How to send money from Taiwan to China at the best rate?
This one’s easy. Simply use our comparison table above to find the best provider to send TWD to CNY. After that it’s just a process of making your transfer via the following steps:
Click “Visit Site” inside our comparison table
Register for an account if required
Input how much you are willing to send
Fund your transfer
Receive & save an email confirming your transfer
How to receive transfers from TWD to CNY in China?
Your recipient has a few methods available to receive your money in China. These will vary between providers, but it is possible to find services that will:
Deposit CNY directly into a bank account
Enable the recipient to pick up cash a specific locations across China
Deliver money directly to their door
Send CNY to your recipient’s mobile wallet
If your recipient is going to collect or have the money delivered to them in China, then they will usually need the following:
A government issued I.D document such as passport or Resident Identity Card
The money transfer reference number
Senders details and the amount of money sent
How much money can be transferred from Taiwan to China?
Technically, there is no legal limit to the amount of money that can be transferred to a recipient in China. However, Chinese citizens must comply with a maximum sending limit of $50,000 USD (equivalent to 318,755.00 CNY) for foreign currency sent overseas each year.
Chinese banks and financial institutions are required to report all overseas transactions within one day of receipt, according to guidelines set by Anti-Money Laundering Laws and Regulations. International transfers exceeding 200,000 RMB ($28,000) and foreign currency transfers equivalent to $10,000 must also be reported.
The amount of CNY you can receive from Taiwan will largely depend on the money transfer service you are using. There are providers that specialise in smaller remittance payments, and providers who specialise in larger transfers.
You should also check if there are any government regulations pertaining to the amount of CNY that can be received in China or sent from Taiwan before making your transfer.
About Money Transfers to China from Taiwan
We’ve compared the best money transfer providers to send money from Taiwan to China. The cheapest provider for TWD to CNY transfers is WorldRemit, while the fastest is WorldRemit.
|💰 Most transferred amount||1000CNY +|
|💸 Cheapest provider (on average)||WorldRemit|
|⚡ ️Fastest transfer time||In minutes with WorldRemit|
|💱 Currency Transfer Pair||TWD - CNY|
|📈 TWD - CNY mid market rate||0.226863|
|💳 Pay-in options in Taiwan||Bank transfer from Taiwan with WorldRemit, Debit card with WorldRemit, Credit card with WorldRemit|
|💵 Pay-out options in China||Bank accounts in China, Debit card|
|🏆 Top 3 TWD - CNY providers||WorldRemit, and|