Global Accounts
Open a Chinese yuan renminbi business account from the UK
Open a Chinese yuan renminbi business account online from the UK with Airwallex. Your account will come with local Chinese bank and branch codes and a dedicated account number. Use your Chinese yuan renminbi account to receive, manage, and send CNY with no hidden fees.
Hassle-free currency accounts with local bank details
Skip the lines and excessive paperwork usually involved in setting up a multi-currency business account. Open multi-currency accounts online and collect payments from your global customers in their preferred currency. 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 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.
Global Accounts
How to open a Chinese yuan renminbi business account from the UK?
Businesses can open a CNY account from the UK easily with Airwallex. Simply sign up online and, once onboarded, you can open multiple domestic and foreign currency accounts in minutes. Your Chinese yuan renminbi account will come with local bank account details, making it easy for you to receive payments in CNY which you can either spend or convert at the interbank exchange rate. Avoid bank queues and endless paperwork, and open your CNY account online with Airwallex today.
Your CNY account
How will your CNY account work from the UK?
Get your CNY account details
Open your CNY account online and receive a local Chinese yuan renminbi account number and branch code. Share these details with your clients and customers in China and start receiving payments in CNY via local bank networks. You can also link your CNY account to eCommerce platforms such as Amazon and Shopify.
Spend in CNY
Once you have funds in your Business Account, you can spend them using Airwallex Corporate Cards, or transfer them to your recipient’s bank account. Use your CNY to pay suppliers and employees in China and elsewhere efficiently, without being subject to needless currency exchange fees.
Convert currencies at market-beating rates
Airwallex gives you access to the interbank exchange rate (sometimes known as the mid-market rate). That means that if you need to convert currencies, you’ll enjoy market-leading foreign exchange rates no matter the transaction size. You can also hedge against currency exchange risk by only converting currencies when the exchange rate is favourable.
Global Accounts
Who is the Airwallex global Business Account for?
The Airwallex global Business Account is ideal for companies that operate across borders. Including companies that invoice overseas clients, sell globally on platforms such as Amazon and Shopify, and work with international suppliers. Our platform allows businesses to centralise their financial operations in one place, even when managing multiple global entities. From expense management to bill payments, payment solutions, and FX, Airwallex has you covered. We make global money management simple and cost-effective for businesses of all shapes and sizes - that’s why we’re trusted by over 150,000 businesses worldwide.
FX & Transfers
End-to-end global money management from the UK
When a payment gets sent to one of your Global Accounts, those funds are instantly visible to you in your Airwallex Account. Easily convert currencies at interbank rates and use Airwallex to make fast, cost-effective domestic and international transfers.
Frequently asked questions
Is it possible to open a Chinese yuan renminbi account online from the UK?
Yes, it is possible to open a Chinese yuan renminbi account online from the UK with Airwallex. Simply sign up via our website and, once onboarded, you can open multiple domestic and foreign currency accounts online in minutes. These accounts function as local currency accounts in your name that come with local bank and branch codes and dedicated account numbers. They make it easy to receive funds domestically and internationally.
What documents do I need to open a Chinese yuan renminbi account as a non-resident business?
The key documents required to open an Airwallex account are similar across regions and will enable you to open a CNY account. We typically ask for the certificate of incorporation or equivalent document, as well as information on the business, its activities and anticipated transaction volumes. We are also required to collect details and IDs for certain individuals - this includes any beneficial owners but can extend to directors and authorised signatories signing up for the account. Non-resident businesses may be asked to provide proof of address for their operations, which can be established through utility bills, contracts or other correspondence.
What are the advantages of opening a CNY account as the UK resident?
Opening a Chinese yuan renminbi (CNY) account allows non-resident businesses to conduct transactions and manage funds in CNY, eliminating the need for currency conversion along with the associated costs and the risks posed by currency fluctuation. Having a CNY account can streamline financial dealings with Chinese-based entities and those that operate in CNY, facilitating smoother transactions and payments. For example, for businesses that receive income from Chinese sources, a CNY account simplifies the process and expedites the receipt of payments.
What other popular currencies can I open a business account from the UK
See below for a range of other currency accounts you can open from the UK: