How to transfer money to China from Singapore (2026 guide)

Key takeaways:

• Sending money to China via traditional SWIFT bank wires can take up to a few business days. The fees add up quickly as funds pass through intermediary banks.

• Fintech providers like Wise, WorldFirst and OFX offer faster transfers and clearer pricing, with several settling within a day through local Chinese payment rails.

• Airwallex gives Singapore businesses a dedicated Chinese yuan account, mid-market FX rates, and same-day delivery on 93% of transfers — all in one platform.

Knowing how to transfer money to China from Singapore matters more than ever in 2026.

Whether you're paying suppliers or sending personal remittances, the route you choose affects how fast funds arrive — and how much you actually pay.

This guide walks through the steps to send a transfer and compares the main providers serving the Singapore-to-China corridor in 2026. It also explains the payout methods available to your recipient.

How to send money from Singapore to China: Step by step

The exact steps differ slightly between providers, but the core flow is the same across most platforms in 2026. Here's what to expect from sign-up to delivery.

1. Open and verify your account

Most providers let you sign up online in minutes using SingPass or by uploading your NRIC or passport. Business senders also need to provide their UEN, company documents and a beneficial owner declaration.

Verification can take anywhere from a few minutes to a few business days, depending on the provider and the depth of checks required.

2. Add your recipient

You'll need a few details about the person or business in China receiving the funds:

• Their full legal name, exactly as shown on their Chinese national ID or business registration

• Their bank account number, along with the receiving bank's name and branch where required

• Their phone number registered in China

• The purpose of the transfer, which China requires for compliance with the State Administration of Foreign Exchange (SAFE)

For payments to Chinese businesses, you'll also need the company's Unified Social Credit Code. If the transfer routes via SWIFT, you'll need the receiving bank's SWIFT code too.

3. Choose how the recipient will receive the money

China supports multiple payout methods, and not every provider offers all of them. The main options are bank account deposit, Alipay, WeChat (Weixin) wallet, UnionPay card, and cash pickup. Cash pickup is limited under current MAS rules.¹

Bank account deposit is the standard route for business payments. Personal remittances often settle faster through Alipay or WeChat, but those wallets have per-transaction and annual receiving caps set by the wallet provider.

4. Fund the transfer

Singapore-based providers usually accept several funding methods. PayNow is the most common — it's instant, free from most personal bank accounts, and supported by most fintech providers.

Bank transfer via FAST or GIRO is also free and same-day. Debit and credit cards are fastest, but usually carry the highest fee. You can also fund the transfer from a multi-currency account if you already hold one.

For business accounts, FAST or direct debit from a Singapore bank account is the standard.

5. Confirm the rate and send

Before you confirm, double-check three things:

• The exchange rate you're being offered against the mid-market rate

• The total fee, including any recipient bank charges

• The estimated arrival time

Most fintech providers show all three upfront. Once you confirm, the provider deducts the funds from your account and triggers the transfer.

6. Track the transfer

You can usually track a transfer in the provider's app or web dashboard. Status updates typically move from "received", to "in transit", to "paid out". You'll often receive email or push notifications at each stage.

If a transfer stalls, contact the provider's support team rather than the recipient bank. Most delays are caused by compliance checks at the sending or receiving end.

5 payout methods in China

Choosing the right payout method affects how fast your transfer arrives and what your recipient needs to do to access the funds. Here's how the main options compare.

1. Bank account deposit

Bank deposit is the standard route for business payments and large personal transfers. Funds land directly in the recipient's Chinese bank account. This typically takes one to three business days through local payment rails, or up to five days via SWIFT.

Recipients need a personal or business account at a mainland Chinese bank.

2. Alipay

Alipay is one of China's two dominant mobile wallets. Transfers to an Alipay account often arrive in minutes. The recipient needs to be a Chinese national with a verified Alipay account linked to a mainland bank card.

Keep in mind: Wise caps Alipay transfers at 50,000 Chinese yuan per transfer.² Annual receiving limits are set by Alipay and depend on the recipient's verification level and transfer purpose.

3. WeChat (Weixin) wallet

Weixin is the payments arm of WeChat — the other major Chinese mobile wallet. The setup is similar to Alipay: instant delivery, recipient must be a Chinese citizen with a verified Weixin account, and annual receiving limits apply.

Keep in mind: Wise caps Weixin transfers at 50,000 Chinese yuan per transfer.² Western Union also offers Weixin as a delivery method, with the same 50,000 CNY per-transfer limit.³

4. UnionPay card

UnionPay is China's domestic card network. Sending to a UnionPay card delivers funds directly to the recipient's linked bank account.

Keep in mind: Wise caps UnionPay transfers at 33,000 Chinese yuan per transaction.² UnionPay is widely supported by Chinese banks and works well for personal remittances when the recipient already holds a UnionPay-enabled card.

5. Cash pickup

Cash pickup used to be a popular option for individuals sending money to China, but MAS suspended this channel for individual remitters.¹ The suspension remains in place as of 2026.

It applies to non-bank, non-card payout channels — including cash pickup, money changers, and mobile wallets routed through non-specified channels.

Compare the most common China remittance services in 2026

You have more ways than ever to send money to China in 2026. Each option comes with trade-offs across cost, speed and regulatory coverage.

Here’s a quick overview:

The information in this table has been reviewed to be accurate as of 20 May 2026.

Note that fee structures differ between providers — some charge an FX margin above the interbank rate, others a flat per-transfer fee, and others a percentage commission with separate cable charges. Always run a live quote on the provider's site for your specific transfer amount before sending.

1. Airwallex

Airwallex helps businesses around the world manage payments globally. The dedicated CNY account lets you receive, hold, and pay in RMB without needing a Chinese bank account. You can open Global Accounts with local bank details in 20+ currencies, including mainland China. 93% of transfers arrive on the same day, and 45% arrive instantly.

What sets Airwallex apart is the breadth of the platform. Beyond transfers, you can pay Chinese suppliers in RMB using Corporate Cards. This avoids cross-currency conversion when the card is funded from your RMB balance.

You can accept payments from Chinese customers via Alipay and WeChat Pay through Airwallex's China Online Payment License. You can also hold balances in 20+ currencies for like-for-like settlement. FX is priced transparently at 0.4% above the interbank rate for SGD-CNY transfers, saving you up to 80% on FX fees.

The information in this table has been reviewed to be accurate as of 20 May 2026.

2. WorldFirst

WorldFirst is part of Ant International and is the official payment partner for 1688.com — China's largest domestic wholesale marketplace. Through 1688 World Pay, you can pay Chinese suppliers in CNY directly from your World Account balance, without needing a Chinese bank account.⁴

For 1688.com orders, you pay a standard auto-debit rate plus a tiered service fee capped at 0.2%, charged according to your average monthly CNY transaction volume on 1688.com.⁴

For payments outside the 1688 network, WorldFirst supports same-day delivery to many Chinese banks, subject to cut-off time and beneficiary bank.⁵ Pricing for SGD-to-CNY transfers is published on WorldFirst's Singapore pricing page rather than disclosed up-front in marketing copy.

The information in this table has been reviewed to be accurate as of 20 May 2026.

3. Corpay

Corpay handles cross-border payments for larger finance teams. The platform supports payments to 200+ countries in over 140 currencies, with built-in FX risk tools like forward contracts and FX options.⁶

Corpay is built for treasury and AP teams that move significant volume — it doesn't publish self-serve pricing, so you'll need to speak to a sales rep to get a quote.

Corpay's strength is the depth of its FX and AP automation features. It's not the simplest option for one-off China transfers, but for businesses making regular high-value supplier payments, the risk-management toolkit can be useful.

The information in this table has been reviewed to be accurate as of 20 May 2026.

4. Convera

Convera is a global FX and cross-border payments specialist that operates in Singapore through Convera Singapore Pte Ltd, licensed by MAS under Licence No. 20200438.⁷ It supports single and batch payments in over 140 currencies to more than 200 countries and territories.⁷ Like Corpay, Convera is sales-led and doesn't publish self-serve pricing for China transfers.

Convera focuses on industries like education, professional services and institutional funds. For SMEs making occasional China payments, it's usually overkill — but for businesses that already manage FX exposure or move large volumes, the platform's hedging and multi-currency holding tools are well-suited.

For more information, read our Convera (Western Union Business Account) review.

The information in this table has been reviewed to be accurate as of 20 May 2026.

5. Wise Business

Wise Business is one of the most popular fintech options for SMEs sending money to China from Singapore. It uses the mid-market exchange rate with no markup, and charges a variable fee from 0.23% on outgoing transfers.⁸ Spend over S$30,000 (or equivalent) in a month and you get a volume discount.⁸

Speed-wise, Wise reports that 74% of transfers arrive in under 20 seconds and 95% within a day across its network.² For China specifically, Wise supports payouts to bank account, Alipay, WeChat (Weixin) and UnionPay, with each payout method having its own per-transfer cap.

The information in this table has been reviewed to be accurate as of 20 May 2026.

6. Aspire

Aspire is a Singapore-based business finance platform with multi-currency accounts in SGD, USD, GBP and EUR. 

Its Basic plan is free; the Premium plan costs S$15/month and adds 5 free outbound international transfers, cheaper FX on up to S$13,000/month, and 24/7 live chat support.⁹ FX rates start from 0.23% (or 0.22% for instant conversion), with the first S$13,000/month free on the Premium plan.⁹

Aspire is not directly licensed under the MAS Payment Services Act for cross-border money transfers — it operates under a temporary exemption, and cross-border services beyond a specified scope are provided by MAS-licensed partners.⁹ This is an important nuance to understand before using Aspire as your primary remittance route.

The information in this table has been reviewed to be accurate as of 20 May 2026.

7. OFX

OFX is an Australian-listed cross-border payments specialist that's been operating for more than 25 years. In Singapore, OFX Singapore Pte. Limited is licensed by MAS as a Major Payment Institution (Licence No. PS20200277).¹¹ It supports global payments in 30+ currencies to 180+ countries.¹¹

OFX has no minimum transfer amount in Singapore, but charges a S$15 fee on transfers below S$10,000 — transfers at or above that threshold are fee-free, with margins built into the exchange rate.¹⁰ The platform offers 24/7 specialist support, which is rare in this category.

The information in this table has been reviewed to be accurate as of 20 May 2026.

8. Banks (DBS, OCBC, UOB)

Singapore's major banks all offer outward telegraphic transfers (TT) to China, with fees structured around a commission plus cable charges.

Using DBS as an example, the standard TT commission is 1/8% of the transfer amount, with a minimum of S$10 and maximum of S$120 per transfer.¹² On top of this, you pay a cable charge of S$20 if you send via DBS IDEAL (online), or S$35 if sent manually or in-branch.¹²

Business Multi-Currency Account holders get a preferential flat rate of S$30 per outward TT via DBS IDEAL, although agent bank fees still apply on top.¹²

Banks offer the security and familiarity of a regulated local relationship, but transfers route via the SWIFT correspondent banking network — which means intermediary bank fees can stack up and recipients often receive less than the sender expected.

The information in this table has been reviewed to be accurate as of 20 May 2026.

Why Singapore businesses choose Airwallex for transfers to China

Many providers don't publish their China transfer pricing. Corpay and Convera are sales-led — getting a number means a call with a rep. Banks bake their margin into the FX rate, then layer cable charges and intermediary fees on top. Even Wise charges variable rates that change by currency and amount⁸.

In contrast to that, Airwallex publishes its pricing transparently: the cost to convert SGD to CNY is 0.4% above interbank. This makes it easier for you to forecast supplier costs, protect your margins, and avoid unpleasant surprises after the transfer is complete.

Here’s what you get with Airwallex:

Save up to 80% on FX fees

Conversions from SGD to CNY are priced at a highly competitive rate of 0.4% above interbank. There’s no markup buried in the FX, and no recipient-end deductions. With this competitive rate, you save up to 80% on FX fees as compared to traditional banks.

Free transfers to China, with $0 transfer fees

Send RMB to China with no per-transfer fee and no minimum transfer size. 93% of payments settle the same day, with 45% arriving instantly. 

Hold RMB in a CNY Global Account to save money on conversions

If you also receive RMB from Chinese customers — through bank transfer or via Alipay and WeChat Pay under Airwallex's China Online Payment License — you can hold those funds in your CNY balance and pay suppliers directly. This means you save on two rounds of conversions (and two rounds of FX fees).

Frequently asked questions (FAQs)

What is the cheapest way to transfer money to China from Singapore?

For most business transfers, fintech providers like Airwallex, Wise, WorldFirst are cheaper than bank wires. Wise charges from 0.23% per transfer at the mid-market rate.⁸ Airwallex starts at 0.4% above the interbank rate for major currencies including CNY, with no per-transfer fee via local rails. Banks usually cost more once you include the TT commission, cable charges and FX margin.¹²

How long does it take to transfer money to China from Singapore?

It depends on the provider and payout method. Bank wires via DBS, OCBC or UOB typically take 2-5 business days because they route through SWIFT. Fintech providers using local Chinese payment rails are much faster — Airwallex settles 93% of its transfers on the same day, with 45% arriving instantly.

Can I transfer money to China without a Chinese bank account?

The sender doesn't need a Chinese bank account, but the recipient typically does, unless they're receiving funds into Alipay, Weixin or a UnionPay card. Most providers cover these mobile wallet payout methods, subject to per-transfer caps. If you're running a business and need to pay Chinese suppliers in RMB without using SWIFT, a Chinese yuan business account from a fintech provider gives you local CNY bank details without needing to set up in China.

How much money can I send to China from Singapore?

Most providers don't impose a Singapore-side cap on outgoing transfers, but China sets receiving limits on the recipient side. Under State Administration of Foreign Exchange (SAFE) rules, individuals in China have an annual foreign currency conversion quota of US$50,000 per person. Larger transfers may require additional documentation from the recipient explaining the purpose of the funds. Business-to-business transfers are not subject to the individual quota but must follow SAFE compliance procedures.

Is it safe to transfer money to China from Singapore using a fintech provider?

Yes, provided the fintech is licensed by the Monetary Authority of Singapore (MAS). Wise,⁸ OFX,¹¹ Convera⁷ and Airwallex all hold MAS Major Payment Institution licences. Always check that any provider you use is on the MAS Financial Institutions Directory before sending funds.

Can I still send cash remittances to China from Singapore?

No — not through non-bank channels. MAS suspended non-bank, non-card remittance channels to China (including cash pickup) for individual senders, and the suspension remains in effect.¹ You can still send funds to a Chinese bank account, UnionPay card, Alipay or Weixin wallet through bank wires or licensed fintech providers.

Sources:

1. https://www.mas.gov.sg/-/media/mas-media-library/publications/consultations/pd/2024/mas-response-to-consult-paper-on-psn11.pdf

2.  https://wise.com/sg/send-money/send-money-to-singapore-from-china

3.  https://www.westernunion.com/sg/en/send-money-to-china.html

4.  https://www.worldfirst.com/sg/product/pay/1688-world-pay/

5.  https://www.worldfirst.com/sg/

6.  https://www.corpay.com/

7.  https://convera.com/en-sg/

8.  https://wise.com/sg/pricing/business

9.  https://aspireapp.com/pricing

10.  https://www.ofx.com/en-sg/faqs/what-is-the-minimum-transfer-amount/

11.  https://www.ofx.com/en-us/about-us/

12.  https://www.dbs.com.sg/documents/276102/282855/pricing-guide.pdf

This publication does not constitute legal, tax, or professional advice from Airwallex, nor does it substitute seeking such advice, and makes no express or implied representations / warranties / guarantees regarding content accuracy, completeness, or currency. If you would like to request an update, feel free to contact us at [[email protected]]. Airwallex (Singapore) Pte. Ltd. (201626561Z) is licensed as a Major Payment Institution and regulated by the Monetary Authority of Singapore.