Transfer Money To China

[coutuser]

Hi,
I need to transfer RMB 8K to someone in China.
Is it better to to do this via Alipay or should I go to a money changer in Chinatown?
What are the charges for using Alipay?
I understand that you can only add Visa and Mastercard so I believe the fees are high?
Or should I just use bank transfer using POSB or OCBC?
Need people to advice.
Thanks.

 

[SibehHL]

Easiest way is via remittance houses in People's Park unless you have Alipay/Wechat China account. Each transfer cost I think S$18 and a slightly better FX than banks.

 

[beanstalk6]

Agree. You are better off going to a remittance agency at People's Park for simplicity and low costs since you have no access to Alipay or a Chinese digital wallet.

 

[testerjp]

What about transferwise and worldfirst, will those work?

 

[beanstalk6]

Why don't you google? Transferwise does not even carry RMB.

 

[jayceevee]

Hi,
I need to transfer RMB 8K to someone in China.
Is it better to to do this via Alipay or should I go to a money changer in Chinatown?
What are the charges for using Alipay?
I understand that you can only add Visa and Mastercard so I believe the fees are high?
Or should I just use bank transfer using POSB or OCBC?
Need people to advice.
Thanks.

Have you found the way to do this?

 

[innumerabilis]

For 8k RMB, I personally would just use DBS international transfer. The savings is not worth the hassle.


Read HWZ Forum Rules!

 

[beanstalk6]

Or a remittance agency at People's Park. They do these kind of transfers all the time.

 

[Upzzzz]

Or a remittance agency at People's Park. They do these kind of transfers all the time.

doing remittance at Chinatown carry some risk. There are many stories of receiving Bank account being frozen by authority as the account used to transfer the money is being suspected of laundering. Now the remittance companies will let u sign an indemnity form.

so avoid getting people into trouble, use DBS.

 

[SibehHL]

doing remittance at Chinatown carry some risk. There are many stories of receiving Bank account being frozen by authority as the account used to transfer the money is being suspected of laundering. Now the remittance companies will let u sign an indemnity form.

so avoid getting people into trouble, use DBS.

Most folks who has account frozen are transferring amounts over RMB20K and those who transfer very frequently. Can't say it won't happen to some unlucky chap but unlikely for someone doing a one-off RMB 8K transfer.

To think about it, if freezing accounts happen very frequently and to many people then all these remittance houses would have closed shop long ago.

 

[Upzzzz]

Most folks who has account frozen are transferring amounts over RMB20K and those who transfer very frequently. Can't say it won't happen to some unlucky chap but unlikely for someone doing a one-off RMB 8K transfer.

To think about it, if freezing accounts happen very frequently and to many people then all these remittance houses would have closed shop long ago.

a greater extend depends on what accounts are used to transfer monies into recipients account.

 

[innumerabilis]

doing remittance at Chinatown carry some risk. There are many stories of receiving Bank account being frozen by authority as the account used to transfer the money is being suspected of laundering. Now the remittance companies will let u sign an indemnity form.

so avoid getting people into trouble, use DBS.

Can read one person's account of the troubles caused in this article: https://mp.weixin.qq.com/s?__biz=Mz...38b22caacbe3872e8084&scene=21#wechat_redirect

 

[Johnpierpontmorgan]

For 8k RMB, I personally would just use DBS international transfer. The savings is not worth the hassle.


Read HWZ Forum Rules!

The fee is 10$?

 

[darksaint]

Hi,
I need to transfer RMB 8K to someone in China.
Is it better to to do this via Alipay or should I go to a money changer in Chinatown?
What are the charges for using Alipay?
I understand that you can only add Visa and Mastercard so I believe the fees are high?
Or should I just use bank transfer using POSB or OCBC?
Need people to advice.
Thanks.

can try this https://www.remitly.com/sg/en/china

 

[kkboy1]

Remittance only works for transfer to local Chinese.
I have china bank account but remittance does not work as I do not have a china national ID to receive.

The strange thing is local chinese can transfer to my china bank account.