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Foreign Exchange in China

When doing business in China or looking to set up there, one key thing to consider is how to make payments to and from China and how the exchange rate (between US Dollars and your current home currency) can affect your costs, profits and budgeting. We save time and money on all international payments and transfers by you using a secure and seamless online service.

Register to send and receive funds to China and ensure you are getting the best exchange rates and the most money into your accounts.

• 4% savings compared to banks
• 24/7 online support from the UK
• Free payments over £3,000
• Full payment reconciliation
• Free to register an account

Facts

The official currency of China is the Chinese Renminbi, also known as CNY. However, this is not a fluid currency. For instance, if you are looking to import goods from China you will more than likely be invoiced in US Dollars as the Renminbi is not a currency traded outside China.

How to send money to China for free

Simply register online and follow our straightforward booking process. You will need to have the following details handy to make a transfer to China;

• Beneficiary name – Please enter the full beneficiary name to enable the bank to accept the payment. No nicknames.
• Bank name – Please enter the full name of financial institution.
• Account number - American account numbers vary in length and it identifies the holder of the bank account.
• Swift code or a US Fedwire/Routing number - The SWIFT is an international standard for identifying a bank and it is 8 or 11 characters long. US Fedwire/Routing number is 9 characters long and also used for identifying a specific bank.
• You may want to add a reference that is relevant to your payment.

Additional foreign exchange services

MultiPay – Multiple outbound payments

Whether you pay one or hundreds of overseas invoices per month, we manage, convert, track and deliver your funds in one simple step. You send one spreadsheet detailing beneficiaries, amounts and currencies. We fulfill all payments at our bank beating rates, with just a single payment required from you to settle all payments.

AutoPay - Regular inbound payments

Do you receive foreign currency payments on a regular basis? If so then AutoPay is the ideal solution for seamlessly managing your payments.Using our currency account details on your overseas invoices you can have your funds converted into the currency of your choice at our bank beating rates and sent to your bank account automatically and with no delay, saving you time and money.

Book a forward contract

If you have a foreign exchange requirement in the next 12 months and wish to protect yourself against potential losses caused by market movements then booking a forward is the best way to receive the rate you want.

Place an Order

Booking an Order allows you to select the exchange rate you would like to achieve and we will handle the rest for you, and will automatically book your currency exchange if your rate becomes available.

Click here to Ask an Expert about Foreign Exchange in China