If you’re looking for a cheaper, faster way to send money to China from the UK and Europe, you’re in luck. Azimo has partnered with Alipay to provide instant money transfers to China at the best rate on the market*.
That means you can send money to China in RMB at a fantastic exchange rate. All you need is an Azimo account and your recipient’s Alipay ID.
How do I send RMB using an Alipay ID?
Making a transfer to a Chinese bank account using an Alipay ID is the easiest way to send money to China with Azimo.
- Log in to your Azimo account. Or, if you’re a new customer, register for an Azimo account. It takes just two minutes, and your first two transfers are fee-free.
- Create a new money transfer to China. Use the delivery method button to choose Alipay.
- Choose how much you want to send.
- Enter your recipient’s first name, last name and Alipay ID.
- Pay using your debit/credit card or with a transfer from your bank account.
- The money will be delivered to the recipient’s Chinese bank account.
What currencies can I send from?
At the moment you can send money to China from accounts held in GBP, EUR, PLN, CHF, NOK, DKK and SEK. We’ll announce new sending currencies as and when we start to support them.
What currency does China use?
The official currency of China is the Renminbi, which is often abbreviated to RMB. Its currency code is CNY, which is short for Chinese Yuan.
Why does China’s currency have two names?
Sometimes you’ll hear people refer to Chinese currency as the yuan. That’s because yuan is the name for a unit of the renminbi, a bit like the British pound.
A pound is a single unit of pound sterling. A yuan is a single unit of renminbi. It’s correct to say that something “costs 10 yuan”. It would not be correct to say that something “costs 10 renminbi”.
Find out more about renminbi and Chinese yuan.
What is the cheapest way to send money to China from the UK and Europe?
Azimo offers the best rate on the market for transfers to China in RMB*.
Who can I send RMB to?
You can transfer money to any Chinese citizen.
How much money can I send?
The maximum amount that you can send in a single transfer is 50,000 CNY. The maximum amount you can send in a calendar year is 500,000 CNY.
How many transfers can I send?
You can send up to five transfers per month.
How do I receive money in Alipay?
It’s easy to receive international transfers to your Alipay account. Just follow these steps:
- Log in to your Alipay account and complete real-name authentication.
- Find the global remittance (跨境汇款) mini-program in the Alipay app.
- Link your bank card to your Alipay ID.
- Send your Alipay ID to the person who is sending you money.
For full instructions, including pictures, you can use the Alipay global remittance tutorial guides in English and Chinese:
Global remittance tutorial, English version: https://render.alipay.com/p/w/tutorial-pc/en-us.html
Global remittance tutorial, Chinese version: https://render.alipay.com/p/w/tutorial-pc/zh-cn.html
*data source: Monito.com, July 2020. Exchange rates are subject to change.