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CNY Transfers

Here you'll find everything you need to know about transferring to Chinese Yuan.

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Sending to CNY

Basic Information   Notes
TransferWise Fee 1.5% (or 24 CNY for under 1600 CNY) When sending from currencies where the fee would normally be 0.5%, the fee is instead 1.5%.
Delivery time* 8-9 Working Hours  *After payout. Please keep in mind that TransferWise can take up to two working days to convert your funds from receiving the deposit
Maximum amount (per transfer) 31,000 CNY (To private individuals) or 2,000,000 CNY (To businesses) Maximum limits for CNY transfers to private individuals – 5,000 USD (or equivalent) per transaction, 10,000 USD (or equivalent) per day, 50,000 USD (or equivalent) per year as above.
Countries we can send to China only  
Additional Receiving Banking Fees None  
Required recipient details    
Recipient Full Name Yes First name and surname - English characters only
Recipient UnionPay Card Number Yes Card number should be 16 to 19 digits
Required details (Businesses)    
Business name Yes In English or Chinese
Business registration number Yes Organisation code, or unified social credit number
Recipient phone number Yes  
Bank name Yes Chosen from a dropdown list
Account number Yes  
Branch name, province & city Yes  
Transfer purpose Yes  
Amount Lock Transfers Yes The currency you're sending from must also be able to send fixed amounts. 
Business transfers Yes  

Additional Note

Please note -
  • You can only make CNY transfers to private recipients who have a UnionPay bank card.
  • You can make CNY business transfers to 26 Chinese banks - if your bank is not on the list you can get in touch and let us know.
  • We can only pay out to UnionPay accounts opened using Chinese National ID cards. Accounts opened with a passbook, driver's licence or military document are not supported. 
  • You can only make transfers to Chinese Yuan from this list of eligible countries.
  • Recipients with UnionPay can only receive an amount of 10,000 USD (or equivalent in CNY) per day, or 50,000 USD (or equivalent in CNY) per year, from any remittance provider. If your recipient has previously received international transfers, via any provider, this will count towards this limit (for example, if they have received 20,000 USD already this year, their limit is 30,000 USD).
TransferWise can send funds to many banks in China, however there are some exceptions. There are some banks that do issue UnionPay cards, but do not accept overseas remittances, meaning that we are not able to support transfers to: 
  1. Agricultural Bank of China
  2. China Merchants bank
  3. China Minsheng bank
  4. Industrial Bank Co
  5. Shanghai Pudong Development Bank
  6. Bank of Communications

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