Open a Chinese Yuan account from Singapore for your business instantly
Receive, hold and send RMB with a dedicated CNY business account. Receive payments from customers or clients in China and streamline payments to suppliers or employees to save on unnecessary conversion fees. Airwallex is legally authorised to support business payments to China.
Regulated by MAS
Airwallex (Singapore) Pte. Ltd. is licensed in Singapore as a Major Payment Institution and is regulated by the Monetary Authority of Singapore (License No. PS20200541)
Set up hassle-free currency accounts with local bank details instantly
Skip the queues and excessive paperwork usually involved in setting up local currency accounts around the world. Open domestic and foreign currency accounts online within minutes and transact in over 60 markets. Collect payments from global customers in their preferred currency and spend your proceeds later in the same currency, eliminating unnecessary conversion fees.
Save on unnecessary bank charges
There are no account opening fees, monthly maintenance charges, or minimum transaction requirements.
Streamline your global cash management
Convert held balances to different currencies in just a few clicks and review your global transactions in a single view.
Know your funds are safe and secure
Relax knowing that your money is secure and protected with end-to-end encryption and bank-level security.
Avoid costly conversion fees
Eliminate unnecessary conversion fees by receiving payments in the same currencies that your customers pay in.
The fastest way to open a Chinese Yuan business account
Get CNY business account details instantly
Open a free CNY account with us online and get a dedicated account number along with a local branch and bank code for your business instantly. Receive, hold, and spend CNY without unnecessary conversion fees.
Receive payments from customers or clients in China
Add the CNY account details you receive to your invoices. These local bank details will allow you to receive payments from customers in China online.
Save on unnecessary conversion fees for CNY payments to suppliers
Hold CNY in your Chinese Yuan business account and make payment to suppliers or contractors in China without incurring any conversion fees.
How it works
Open a CNY business account in 3 simple steps
Sign up for a free Airwallex business account
Navigate to our dashboard and select CNY global account.
Key in your business’ name and create the account
Get issued a dedicated account with local bank details in the name of your business. Share these details with your customers to receive payments in CNY.
Hold CNY in your account or withdraw in your local currency
Receive, hold and make payments in CNY directly without incurring unnecessary conversion fees or convert your CNY into SGD immediately.
"Before Airwallex, we had no idea when our payments were going to reach our suppliers. Using Airwallex instead of traditional banks has increased the speed of our overseas transfers and optimised our cashflow significantly. We've also saved up to 99% of our TT and FX fees."
Ying Tze Her
Chief Operating Officer, Saturday Club
"Singapore is a small market. Businesses who wish to make decent earnings have to export to other markets, at some point. Before Airwallex, we had to travel physically to China to pay our suppliers. Now, we can transfer money in minutes. If Airwallex isn't around, I think a lot of traditional businesses will take a very long route to success."
Co-founder, Hey! Chips
“Typically, traditional banks take up to 2-3 days to process a transaction. With Airwallex, we can make same-day transfers around the clock and pay our employees all over the world easily.”
CEO, World of Neopets
"I’m so thankful that Airwallex exists! Airwallex allows me to exchange currencies at really great rates, and the interface is very modern and easy to use compared to my bank. We save so much money with Airwallex! In just a few months, we've already saved more than SGD$13,000 in unnecessary bank fees!"
Get started with global accounts
Airwallex offers you a wide array of local and global transfer options to make sure you get the fastest and most cost-effective solution.
Frequently asked questions
How much does it cost to open a CNY business account online?
Airwallex will not charge any fees to open a CNY business account. Open a CNY account from Singapore and countries around the world.
How long does it take to open a CNY business account?
Once you’ve created a business account with us and submitted your business registration details, you’ll receive access to create a CNY account on our dashboard. With Airwallex, you can open a CNY account online and get access to local account details in minutes. All that is needed is your business’ name.
Why is a CNY account important for my business?
If your business deals with clients, suppliers, or partners in China, having a CNY account can simplify transactions and make it easier for you to receive payments and make payments in the same currency without the need for frequent currency conversions. This leads to savings in currency conversion fees.
How can I use the Airwallex CNY Account as a multi-currency account?
Your Airwallex business account lets you open local currency accounts in 23+ different currencies, including EUR, GBP, AUD and more. You can either use these accounts to receive, hold, and spend in the same currency or convert held balances to different currencies in just a few clicks.
How can I open a CNY account in Singapore to pay foreign currencies?
You can open an Airwallex CNY Account remotely from Singapore, without visiting a bank branch. All you need are soft copies of your ID and business registration documents, and your CNY account will be ready in minutes. Click here to get started.