Yes, you can send money to China through your commercial bank, but this is inadvisable. Compared to OFX’s online transfer rates, local banks are more expensive and charge higher fees. We recommend using OFX’s online calculator and comparing it with how much your bank charges for international money transfer.
Unfortunately, there is no best day to send money to China. The foreign exchange rates vary depending on the global demand and supply of goods and services, as well as political and economic factors. So if you’re planning to send money, now is the best time!
In most cases, it is cheaper to buy your foreign currency at home in Australia before you travel overseas. Additionally, you could get better rates if you send money to China online.
It’s typically cheaper to send money to China online. Money changers with a physical store have to pay for rent, staff, and insurance, and they will transfer these additional third-party charges to customers. Some stores may also have limited currency availability. In comparison, online money transfer providers don’t have these large costs and staff, making it easier to provide better exchange rates and lower fees when you send money.
If you’re looking to send money to China or to any destination country, OFX is your simplest, most convenient choice. To get started, simply create a free account with OFX, or log in if you already have one. Once logged in, you can request a live quote for your transfer, which shows exactly how much your recipient will receive after fees and currency conversion. Once you have all the necessary banking information for your recipient, enter your payment details and specify the amount you wish to send. OFX will automatically calculate the converted amount in Chinese Yuan, factoring in their […]
The most cost-effective way of sending money to China is usually via an online banking transfer using OFX. Unlike traditional banks, OFX applies a small, transparent margin on the exchange rate instead of charging high hidden fees. This makes your cost to send money much cheaper.
Like all reputable money exchanges, we are registered with AUSTRAC and regulated by the Australian Securities and Investment Commission (ASIC).
S Money complies with the relevant laws pertaining to privacy, anti-money laundering and counter-terrorism finance. This means you are required to provide I.D. when you place an order. It also means the order must be paid for by the same person ordering the currency and you must show your identification again when receiving your order.
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