There are several ways to send money to China, including:
- Bank transfers: This is one of the most common and secure ways to send money to China. Many major banks in the US, such as Wells Fargo and Bank of America, offer international wire transfer services.
- Online money transfer services: Companies like PayPal, Western Union, and MoneyGram allow you to send money to China online. These services are fast and convenient, but they may charge higher fees than bank transfers.
- Foreign exchange companies: These companies, like TransferWise, OFX, and WorldFirst, specialize in foreign currency exchange and can help you send money to China at a competitive exchange rate.
- Chinese online payment platforms: Alipay and WeChat Pay are popular online payment platforms in China. They allow you to send money to China directly.
The fees for sending money to China through Wells Fargo and Bank of America will vary depending on the amount of money you are sending, the currency you are sending it in, and the method of transfer (i.e., online, in-person, or via phone). Generally, fees for international wire transfers are higher than domestic wire transfers.
The fee for an international wire transfer is $45 for outgoing and $16 for incoming transactions, but additional fees may apply depending on the specific type of account you have and the country you are sending money to.
The fees for sending money to China through PayPal, Western Union, and MoneyGram can vary depending on the amount of money you are sending, the currency you are sending it in, and the method of transfer (i.e., online or in-person).
Online money transfer services
For PayPal, fees for sending money to China will vary depending on the account you have, the country you are sending money from, and the payment method used. For instance, fees for personal transactions made using a PayPal balance or linked bank account are typically lower than those for transactions made using a credit card.
For Western Union/MoneyGram, fees for sending money to China will vary depending on the amount of money you are sending, the location you are sending it from, and the method of payment. It’s possible to find a fee range from $5 to $50 or more.
Foreign exchange companies
TransferWise, OFX, and WorldFirst are foreign exchange companies that specialize in sending money internationally. They offer competitive exchange rates and lower fees than traditional banks for sending money to China.
For TransferWise, you can send money to China by creating an account on their website or mobile app, and then entering the details of the recipient and the amount you want to send. The fees for sending money through TransferWise will depend on the amount of money you are sending and the currency you are sending it in. TransferWise charges a small fixed fee plus a percentage based on the amount you send.
For OFX/WorldFirst, you can send money to China by creating an account on their website, and then entering the details of the recipient and the amount you want to send. The foreign exchange company charges a transparent fee based on the amount you are sending, and it’s possible to find a fee range from $5 to $15.
Chinese online payment platforms
You can send money to China through Alipay or WeChat Pay from the United States by following these steps:
- Download the Alipay or WeChat Pay app on your smartphone.
- Create an account and link it to a funding source, such as a credit card or bank account.
- Find the recipient’s account information, which can typically be their mobile phone number or a unique QR code.
- In the Alipay or WeChat Pay app, navigate to the “send money” or “transfer” feature and enter the recipient’s information and the amount you want to send.
- Confirm the transaction and wait for the funds to be transferred.
It’s important to note that you will need to have a Chinese bank account to receive the money, and also, you may need to have a Chinese mobile number to register for Alipay or WeChat pay, if you don’t have one you can use a virtual number service.
Also, you should be aware of the exchange rate and the fees applied when sending money through these platforms, as they may change frequently.
Chinese mobile number
There are a few ways to get a Chinese mobile number when you are physically located in the United States, including:
- Virtual phone number services: Some companies offer virtual phone numbers that can be used to register for Alipay or WeChat Pay. These numbers can be used to receive SMS messages and phone calls, and they can be forwarded to your actual phone number.
- Chinese SIM card: You can purchase a Chinese SIM card and have it shipped to you in the United States. This will give you a Chinese mobile number that you can use to register for Alipay or WeChat Pay.
- Travel to China: If you plan to travel to China in the future, you can buy a SIM card when you arrive.
- Chinese friends: You can ask a friend or relative who lives in China to help you with getting a Chinese mobile number.
It’s important to note that virtual phone number services may not work for all cases and some Chinese mobile operators may not allow foreign registration. Furthermore, you should check for the service’s terms and conditions, as well as the privacy policy before signing up for one, to ensure that your information is safe and protected.
Virtual phone number services
Some examples of virtual phone number services that can be used to get a Chinese mobile number when you are located in the United States are:
- Rebtel: This service offers virtual phone numbers for various countries, including China. You can use the virtual number to register for Alipay or WeChat Pay and receive SMS messages and phone calls.
- Telos: Telos provides virtual numbers for various countries, including China, which can be used to register for Alipay or WeChat Pay
- MySIMo: It’s a virtual SIM card service that allows you to have a local number in many countries, including China, and use it to register for apps and services like Alipay and WeChat pay.
- Twilio: Twilio is a communication platform that allows you to have a virtual phone number in many countries, including China, and use it to receive calls and SMS.
- Telz: Telz provides virtual phone numbers for more than 100 countries, including China, that can be used to register for Alipay or WeChat Pay.
It’s worth mentioning that these are examples and availability, as well as the service’s features and pricing can vary, therefore is recommended to check with each service for the most accurate and up-to-date information before signing up for one.