How to Send Money and Transfer Funds in China as a Foreigner (2026)

Moving money across borders is one of the trickiest parts of living in China as a foreigner. China operates a system of foreign exchange controls that can feel opaque and frustrating — especially when you need to send your salary home, receive funds from family abroad, or simply move money between your Chinese and foreign accounts. This guide covers every practical method for transferring money into and out of China, the documents you'll need, the limits you'll face, and the common mistakes that catch people off guard. Whether you're on a work visa, a student visa, or just visiting, the rules differ — and knowing them in advance saves real headaches.

Basic Rules for Money Transfers in China

China's currency, the Renminbi (RMB/CNY), is not freely convertible on international markets. The People's Bank of China (PBOC) and the State Administration of Foreign Exchange (SAFE) regulate how money flows in and out of the country. This means you can't simply wire unlimited amounts internationally the way you might between, say, the US and Europe.

The key principles to understand are: (1) inbound transfers in foreign currency are relatively straightforward — receiving money is easier than sending it out, (2) outbound transfers require documentation proving the source and purpose of the funds, and (3) both individuals and banks are subject to annual quotas and reporting requirements.

For foreigners specifically, the rules depend heavily on your visa type and residency status. A tourist passing through has very different options compared to someone with a work permit and a Chinese bank account. If you haven't set up a bank account yet, start with our guide on how to open a bank account in China as a foreigner.

Daily and Annual Foreign Exchange Limits

The most important number to remember is $50,000 USD equivalent per year. This is the annual foreign exchange settlement and purchase quota for individuals in China. It applies per person, per calendar year, and covers all currencies combined (converted to USD equivalent at the prevailing rate).

For work visa holders earning a salary in RMB, there's an important exception: you can convert and remit your after-tax salary income without it counting against the $50,000 annual quota — provided you have the right documentation (tax certificates, employment contracts, payslips). This is a critical distinction that many expats don't learn about until they've already hit the standard quota.

If you need to transfer more than $50,000 in a year for non-salary purposes (selling property, closing a business, etc.), you can apply for a higher quota at your bank with supporting documents. The process is bureaucratic but not impossible — you'll need to visit your bank branch in person with all relevant paperwork.

Sending Money TO China

Whether you need to fund your Chinese bank account, pay a deposit on an apartment, or simply maintain a float for daily expenses, there are several ways to get money into China. Each has different speed, cost, and convenience trade-offs.

1. International bank wire (SWIFT transfer)

The traditional method. You initiate a wire from your home bank to your Chinese bank account. You'll need your Chinese bank's SWIFT code, your account number, branch name, and full name (as it appears on your passport). The transfer typically takes 2–5 business days and costs $25–$50 in sending fees plus potential intermediary bank fees. Your Chinese bank may also charge a receiving fee of ¥50–¥200.

The money will arrive in your foreign currency sub-account (most Chinese bank accounts for foreigners have both an RMB and a foreign currency sub-account). You can then convert it to RMB at the bank's exchange rate through mobile banking or at a branch counter.

2. Wise (formerly TransferWise)

Wise is the most popular option among expats for sending money to China. It offers mid-market exchange rates with a transparent fee (typically 0.5%–1.5% depending on the currency pair and payment method). Transfers usually arrive in 1–2 business days. You can send directly to a Chinese bank account in RMB, which means the recipient gets RMB without needing to convert anything on their end.

3. Alipay international transfer

Alipay now supports inbound transfers from select countries and payment methods. If someone abroad has Alipay International or a supported payment app, they can send money to your Chinese Alipay account. The rates are competitive but not always the best. For setting up Alipay in the first place, see our Alipay and WeChat Pay setup guide.

4. Carry cash and exchange locally

You can bring up to $5,000 USD (or equivalent) in foreign currency into China without declaring it. Above that amount, you need to fill out a customs declaration form. Once in China, exchange at banks (best rates, bring your passport) or at airport exchange counters (convenient but worse rates). Avoid street money changers — they're illegal and you risk counterfeit bills.

Sending Money OUT of China

This is where things get more complicated. Sending money out of China requires documentation, patience, and usually an in-person bank visit. The Chinese government monitors capital outflows closely, so expect more scrutiny compared to inbound transfers.

1. Bank counter remittance (the standard method)

The most reliable method for sending large amounts out of China. You go to your bank branch, present your documents, fill out the foreign exchange purchase and remittance forms, and the bank processes the transfer. The funds are converted from RMB to your chosen foreign currency and wired to your overseas account via SWIFT.

Processing takes 1–3 business days for most banks. Fees typically include a handling fee (¥80–¥300) plus a cable/telegraph fee (¥80–¥150). Bank of China generally has the smoothest process for foreign remittances, followed by ICBC and China Merchants Bank. Smaller local banks may refuse to handle foreign currency transactions for non-Chinese citizens.

2. Online banking remittance

Some banks now allow foreign currency purchase and outbound remittance through their mobile apps or online banking platforms. Bank of China's mobile app, for example, supports outbound transfers up to $50,000 per transaction for verified users. However, this feature is often restricted for foreign passport holders — you may be able to purchase foreign currency online but still need to visit a branch to complete the actual remittance. Always check with your specific bank first.

3. Wise (for receiving, not sending from China)

An important clarification: Wise does not support sending money directly FROM a Chinese bank account. You cannot link your Chinese bank card to Wise and initiate an outbound transfer. However, Wise is excellent for the reverse direction — receiving money from abroad. Some expats work around this by having someone outside China send them money via Wise to their home country account, but this doesn't solve the problem of moving RMB out.

Using Wise (TransferWise) for China Transfers

Wise remains the most popular money transfer service among foreigners in China, primarily for receiving money from abroad. Here's a practical guide to using it effectively.

Setting up Wise

Create an account at wise.com (you'll need a VPN to access the site from within China — see our payment setup guide for VPN recommendations). Register with your passport details and a non-Chinese address. Wise accounts are tied to your home country identity, not your Chinese residence.

Once verified, you can set up a transfer to China by choosing CNY as the destination currency and entering your Chinese bank account details. The sender (you or someone abroad) funds the transfer from a supported source country account, and Wise delivers RMB to the specified Chinese bank account.

Exchange rate advantage

Wise uses the mid-market exchange rate (the real rate you see on Google or XE.com) plus a small transparent fee. Compare this to banks, which typically add a 1%–3% markup hidden in their exchange rate. On a $5,000 transfer, the difference between Wise and a bank wire with a bad exchange rate can easily be $50–$150. Use our currency converter tool to check current rates.

Wise limitations for China

Be aware of these restrictions: Wise cannot send money FROM China (only TO China). Maximum transfer amounts vary by corridor but are typically $30,000–$50,000 per transfer. Wise requires the recipient to have a Chinese bank account — it cannot send to Alipay or WeChat Pay directly. Some Chinese banks may temporarily delay or question incoming Wise transfers, so it helps to inform your bank in advance for large amounts.

Alipay and WeChat Pay Withdrawals

If you've been using Alipay or WeChat Pay with an international card, you may accumulate a balance in your wallet. The question many foreigners ask is: can I withdraw this balance to my foreign bank account?

Alipay (Tour Pass / international mode): If you loaded money via the Tour Pass feature, unused funds are automatically refunded to your original payment card after the pass expires (typically 90 days). You can also manually request a refund through the app. The refund goes back to your international Visa/Mastercard in the original currency.

WeChat Pay (international card linked): WeChat Pay for international users works more like a pass-through — it charges your linked card directly for each transaction rather than maintaining a stored balance. If you do have a residual balance, you can withdraw it to your linked Chinese bank account (if you have one) or contact WeChat Pay support for a refund to your international card.

For residents with Chinese bank accounts: If you've linked a Chinese bank card to Alipay or WeChat Pay, withdrawing your wallet balance to that bank account is free and instant. From there, you can use the bank counter remittance process described above to send the money overseas.

Common Chinese Bank Account Restrictions

Chinese bank accounts opened by foreigners often come with restrictions that Chinese citizens' accounts don't have. Understanding these upfront saves frustration later. If you haven't opened an account yet, our bank account opening guide covers which banks are most foreigner-friendly.

Pro tip: always keep your bank informed of passport renewals and visa changes. Visit your branch within two weeks of getting a new passport or visa stamp to update your records. Failing to do this is the number one reason foreigners find their accounts suddenly frozen.

Documents You'll Need

China's banking system is document-heavy. The exact requirements vary by bank, branch, and the amount you're transferring, but here's what to prepare for different scenarios.

Different Situations: Students, Workers, and Tourists

Tourists and short-term visitors

As a tourist, your options are the most limited. You likely won't have a Chinese bank account, so you'll rely on Alipay/WeChat Pay's international card linking, cash exchange, and ATM withdrawals from international bank cards. For receiving money, have someone send it via Wise before you arrive (to a Chinese contact's account if needed) or simply bring enough cash and use your home bank cards at ATMs displaying the UnionPay, Visa, or Mastercard logos.

For managing your daily spending, check our cost of living in Shanghai guide so you know how much to budget.

Students (X1/X2 visa)

Students can open a Chinese bank account with their student visa and university enrollment letter. The account will typically be Class II, with moderate transaction limits. For receiving money from parents or scholarships abroad, Wise to your Chinese bank account is the most efficient method. You're subject to the standard $50,000 annual quota for conversions, which is usually plenty for student living expenses.

Sending money out as a student is possible within the annual quota but may require additional explanation at the bank. Keep your scholarship documents and university enrollment proof handy. If you receive a Chinese government scholarship in RMB, you can convert and send it out within the normal annual limit.

Work visa holders (Z visa / residence permit)

You have the most options and the most favorable rules. The key advantage is the salary remittance exception — your after-tax salary can be sent home above and beyond the $50,000 annual quota. Open a Class I bank account (or upgrade your existing one), keep meticulous records of your tax payments, and establish a regular remittance schedule.

Many expats send money home quarterly rather than monthly, as each bank visit takes 30–60 minutes. Some banks allow you to set up recurring transfers once you've submitted the required documents the first time. Bank of China and ICBC tend to have the most streamlined processes for this.

Common Pitfalls and Warnings