Bank Transfer
2 Days
Debit Card
2 Days
Bank Transfer
1-2 Hours
USD to CNY
When transferring funds from USD 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 United States to China.
Choosing the best service provider
When weighing up the options for how to send money from United States 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 United States 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 VertoFX . The cheapest provider we found is Instarem at 1.0E-5% Above Mid-Market Rate.
If you’re looking for the best combination of price, speed, and reliability we recommend using Instarem when transferring USD to CNY.
This means that by using Instarem for online money transfers to China from United States, 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 Instarem for any reason, our comparison engine has found VertoFX also to be very good options when sending USD – CNY.
The cheapest way to send money from United States 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 United States to China. Instarem has been determined by our comparison engine to be currently offering you the cheapest rates possible.
Get the Best Rate and Sign Up for Rate Alerts United States to China
The fastest way to send money from United States to China
When sending money from United States 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, VertoFX is the fastest way to send USD – CNY.
What payment methods are available when sending money from United States 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 United States using credit card
To avoid high fees you can opt to use an online money transfer provider such as to pay for your transfer to China.
Sending money to China from United States using a debit card
With Instarem 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 United States 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 Instarem 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 United States 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 Instarem and VertoFX .
Considerations for a USD – CNY Currency Transfer
Before sending money to China from United States, 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 USD – 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 6.370901 and the lowest exchange rate margin is currently offered by Instarem at 1.0E-5% 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 Instarem, VertoFX and will give insight here.
How to send money from United States to China at the best rate?
This one’s easy. Simply use our comparison table above to find the best provider to send USD 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 USD 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 United States 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 United States 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 United States before making your transfer.