Any local online money transfer service to China?

Closed Thread
  1. #1

    Any local online money transfer service to China?

    I want to send money to a Bank of China mainland account regularly over hk$30k a month. Bank2bank transfer seems fine for less than USD 50K a year. However recently had problem with China side because of receiver money is not RMB etc etc etc. So a better option was those moneychanger shops on streets, they were nice actually and a lot more convenient than banks. I will be in overseas soon so I can not use those moneychanger shops anymore.

    Is there any local money transfer online service? Receiver money should be RMB.

    Thanks!


  2. #2

    Join Date
    Feb 2019
    Posts
    3,240

    Rebooting this thread ... I have about a million HDK-worth of foreign currency that I want to turn into RMB and send to a bank account in China.

    What are the cheap ways to do this? I prefer electronic/cashless solutions if possible, and clearly don't want to cross the border under current conditions. Not too bothered about the time it takes, within reason (say a couple of days).

    I have many bank accounts (including I think an RMB account in HSBC HK) but none in China, and the recipient is somebody else.


  3. #3

    Join Date
    Feb 2021
    Location
    Hong Kong
    Posts
    26

    I’ve typically used licensed remittance agencies without any hassle, and for the kinds of amounts you are referring to, I don’t think any admin charge other than the FX rate is involved. Cashless & arrives to the designated mainland account within the same day if done before the cut-off time, if not within 1 working day. PM me for details if you require.