Almost a quarter of the adult population in South Africa are reportedly unbanked and without access to financial services, so recipients in this country have unique remittance requirements. Certain international money transfer companies cater to recipients in South Africa and are therefore able to provide the most intuitive and tailor-made solutions, with multiple pay-out choices for sending money to someone without a bank account.
When considering how to send money South Africa from China there are some key aspects of the transfer that will impact the best provider for your needs.
There are plenty of international money transfer providers for China to South Africa. The fastest money transfer provider is VertoFX . The cheapest provider we found is VertoFX at 1.07% Above Mid-Market Rate.
If you’re looking for the best combination of price, speed, and reliability we recommend using VertoFX when sending CNY – ZAR.
This means that by using VertoFX for online money transfers to South Africa from China, 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 VertoFX for any reason, our comparison engine has found also to be very good options when sending CNY to ZAR.
If you are looking to make an international transfer, in some cases you might need to know the SWIFT/BIC code of your recipient in South Africa. If you’re unsure what it is, check out our SWIFT calculator to figure out the correct SWIFT code in South Africa.
The cost of transferring money will depend on the value of the transaction and amount of ZAR you want the recipient in South Africa to receive.
In order to avoid high fees, you should consider the cheapest way to send money from China to South Africa.
VertoFX has been determined by our comparison engine to be currently offering you the cheapest rates possible.
When sending money from China to South Africa, speed is one of the biggest factors you need to consider in terms of the service offered by different money transfer providers, particularly if you want to send money instantly. Currently, VertoFX is the fastest way to send CNY – ZAR.
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.
To avoid high fees you can opt to use an online money transfer provider such as to pay for your transfer to South Africa. Our guide on sending money using a credit card has more information.
With you can send money online to South Africa using your debit card. But before making a payment, make sure you understand all the processing fees in place. Our guide on sending money using a debit card has more information.
Bank and international wire transfers are the most common ways of sending money South Africa 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 VertoFX 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.
When sending money to South Africa from China using bank account transfer you are paying for the outgoing fees, flat fees, currency exchange rate markup, and sometimes an additional incoming transfer fee. If you do decide to make an international transfer using wire transfer, you might be required to use a SWIFT/BIC code when completing your transaction. If you’re unsure of what it is, check out our guide on what is a SWIFT code as well as use our SWIFT code calculator to find the right SWIFT/BIC code.
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 VertoFX .
Before sending money to South Africa from China, you should consider the following:
This one’s easy. Simply use our comparison table above to find the best provider to send CNY to ZAR. After that it’s just a process of making your transfer via the following steps:
Your recipient has a few methods available to receive your money in South Africa. These will vary between providers, but it is possible to find services that will:
If your recipient is going to collect or have the money delivered to them in South Africa, then they will usually need the following:
The amount of ZAR you can receive from China 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 ZAR that can be received in South Africa or sent from China before making your transfer.