Why should I send money to China using Exchange4free?
We offer superior benefits to your local bank or another money transfer operator (MTO) to send money money to China.
1. Banks and MTOs can quote high margins off the interbank exchange rate
The interbank rate is the rate at which the big banks buy and sell currency. These rates are updated every second and can be found on a website like www.xe.com. Your bank or MTO prices you off this rate. The difference between the interbank rate and the exchange rate which they offer to convert and send your funds is known as the 'exchange rate margin'.
These margins can be between 3-5% (or more in some instances). We offer all our clients highly competitive margins and exchange rates on all their money transfers. Our margins will be between 0.75-2% off the current interbank exchange rate. The margin will depend on the amount of money you are sending, larger amounts will receive more favourable exchange rates.
2. International (swift) transfer and receiving bank fees
When you transfer through Exchange4free, not only will you be receiving a great exchange rate, but we also won't charge you any transfer fees. There are normally two fees charged when making an overseas money transfer. The first is an international swift transfer fee and the second is a fee charged by the receiving bank to receive the international funds. We save our clients by covering both these charges.
We also guarantee there are no hidden costs or commissions charged when you send money to China using Exchange4free. The amount we say will be sent to to your overseas destination is the amount that your beneficiary will receive into their account.
You will receive these great benefits every time you send money to China:
- best exchange rates on every transfer
- no international transfer or receiving fees
- no commission or hidden costs
- book an exchange rate for you transfer 24 hours a day
- easy to use online money transfer booking system
- safe and secure hassle-free money transfers
How do I send money to China?
First you need to register an account with us, simply click 'Open an Account' and follow the registration steps. Once your account is activated you will be able to access all our services and book a money transfer to China.
What payout options do I have to send money to China?
- You can arrange for your beneficiary to collect CNY cash from any China Post branch throughout China
- Clients that are making USD payments to companies in China can make a bank to bank transfer.