Sorry, we don't have results for the combination when sending money from USA to China for sending amount $500. We are working hard to provide you best results from US Dollar to Chinese Yuan Renminbi so that you can compare exchange rates and fees and can take best decision and save fees for your money transfer.
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Whenever we talk about the USD and the Chinese Yuan, the two most competitive states in the history of the world rings in our minds. In 2017, $16,141,000,000 was the total recorded remittance to China from USA. This was the second largest after Mexico. India superseded this chart but the margin was $5,000,000,000 large.
This is a clear depiction of how desperate people are to send money from US to China. But do they know how to? Are they using the best means the markets have to offer? Find out below and get ahead of the rest in the game.
As already stated, there are many ways to send money from US to China. You cannot be limited to just how easy you can make this transaction. You have to be careful, however, when selecting a transfer service provider. This will make you not lose money to a bad deal. Here are some tips on which providers to use when sending money from US to China:
Instarem is the best online money transfer service to use when sending money from US to China. It not only offers excellent exchange rates, but also the quickest way to remit money in the bank account of China. Other online money transfer companies that do offer these services are XE Money, Pangea and TransferWise.
Check payments are also a reliable means of money transfer from US to China. However, they have a long process of sending your money and can take up to 15-28 days. The best alternative would be using bank transfers as they are faster. Many banks operate in China and enable international transfers to be made via them. Such include:
Cash pick-up services are the best resort to settle for if you want your money transferred at greater speeds. Western Union, MoneyGram and Transfast have multiple agents located in China where you can pick up your cash from. On the sender’s side, you can post your cash either via your bank account, your credit card or debit card.
Wire transfers are bank services whereby the recipient can get his/her money directly in their bank accounts. It takes about 2 to 3 days for the cash to be received.
Transfer limit: You have to look at the maximum and minimum limits as to which these transfer service providers offer. Some have transfer limits of as low as $5 while others as high as $5000. The maximum limits of transfer on the other hand may vary on a daily or weekly basis based on the location or a company’s policies.
Exchange Rate: You need to compare this to the interbank rate and choose a transfer option with the exchange rate closest to this. Most service providers compete when it comes to offering low exchange rates so you have to look at other factors such as the transfer fees they charge you for a certain amount of transfer you want to make.
Safety: Choose the transfer options mentioned here at Exchange Rate IQ as we have confirmed that they are the safest ways of cross-border remittances. If you wish to use other methods, then remember to do a background check on the records of the company of your choice. This way, you can know if it is okay to send money with them.
