best provider to send money to China

Best money transfer provider to send money to China

With a population of over a billion people, it’s no surprise that there’s a lot of demand for ways to send foreign currencies and Chinese yuan (CNY) to China. Discover how Azimo compares to Remitly and TransferWise, two other leading digital providers on the market. Find out which service comes out on top in terms of speed, price and additional features. 

Speed and delivery methods

How long transfers take is a key factor to consider when sending money to China. The provider you choose could be the difference between your recipient getting their money instantly or having to wait a few hours, days or even longer.  

With Azimo, your transfer to China is:

If you opt for Remitly, you can choose from two Alipay options which are:

  • Express. 
  • Economy. 

Remitly’s Express option will deliver money instantly for a slightly higher fee, while their Economy option offers lower fees but comes with a two-hour delivery window.

When sending money to China with TransferWise, you can choose from three types of transfers: 

  • Low-cost transfers – sent from a UK bank account.
  • Fast and easy transfers – sent from a debit or credit card.
  • Advanced transfers – sent from a GBP account outside the UK.

TransferWise transfers to China can take between two to six hours to complete except for Advanced transfers, which are delivered on the next working day. 

Prices, fees and exchange rates

To compare prices between Azimo, TransferWise and Remitly, let’s see how much your loved ones will receive when you send £100 to China after registration. 

ProviderRecipient gets
Remitly869 CNY
TransferWise860 CNY
Azimo881 CNY

Prices are correct as of November 10th 2020. Some figures have been rounded up to the closest Chinese yuan (CNY)

With Azimo your first two transfers are fee-free, and your first transfer also benefits from an introductory special exchange rate of £1 = 8.80 CNY

TransferWise’s cost includes:

When sending the money with Remitly, the first transfer is fee-free. However, they offer two different exchange rates: 

  • An ‘Economy rate’ of £1 = 8.77 CNY when you pay from a bank account.  
  • An ‘Express rate’ of £1 = 8.74 CNY if you pay with a debit or credit card.

Additional features

While speed and price are key, most providers offer you additional services that can be very useful, depending on your needs. For example, you may want a provider that offers more flexibility for sending and receiving currencies. The table below compares each provider’s features when sending money to China. 

ProviderSending currencySending limitReceiving currency & deliveryPayment options
RemitlyGBP£5,000 per dayCNY to Chinese bank accounts via AlipayDebit or credit card & bank transfer
TransferWiseGBP, EUR & USD31,000 CNY equivalent  per transferCNY direct to a Chinese bank accountDebit or credit card, bank transfer, SWIFT & PISP*
Azimo8 inc. GBP, CNY & EUR50,000 CNY per transferEUR, USD & CNY to Chinese bank accounts via AlipayDebit or credit card, SWIFT & bank transfer

PISP means ‘Payment Initiation Service Provider’ and works similarly to Direct Debits. With a PISP you can give instructions to your provider to make bank transfers directly from your bank account.

Discover a faster, cheaper way to send money to China. Download the Azimo app on iOS or Android and start transferring funds today.