New Payout Update Dec 2021: Great News! You asked, We listened! We are happy to inform that you can now transfer funds to a local personal bank account in China!
New Fees Update: Oct 2021. For B2B transfers, the fee charged is depending on your order amount! For more info, take a look at the list below.
New Payout Update: Sept 2021. You can now transfer to Alipay digital wallets! Find out more!
Here is some information regarding CNY transfers to China.
General Information
- Who can I send to?
For Personal users, you can send CNY to Chinese citizens (C2C Transfers) in China.
For Business users, you can send CNY to business bank accounts (B2B & B2C Transfers) in China. - How much can I send?
The amount you can send will differ depending on what type of MoneyMatch user you are registered as. Check Transaction Limits for more information.
Note: Annual limit of USD 50,000 (or equivalent) applies for each individual recipient. - How much does it cost?
For B2C & C2C Transfers: MYR 18 per transaction
For B2B Transfers:
- Order amount is MYR 10,000 equivalent and above: MYR 8 per transaction;
- Order amount is below MYR 10,000 equivalent: MYR 88 per transaction - What will be the payout method used?
For C2C Transfers: Account Credit & Digital Wallet - Alipay
For B2B / B2C Transfers: Account Credit - International Bank Transfers - How long does it take for the funds to be transferred?
Once processed and set "In-Transit", transfers may take up to 1-5 business days to reach the recipient. Learn more about how long transfer takes.
What information do I need about my recipient?
Sending to a Personal Alipay Account (C2C)
Note: This feature is only available for personal users!
- Account Details
Digital Wallet ID: The registered mobile number or email address on their wallet
Bank Account Title: Account Holder Name as listed on the account, in PinYin.
Digital Wallet Provider: Alipay - Recipient Details
Recipient Name: Name should be the same as the Bank Account Title
Recipient ID Type & Number: Passport or Government Issued ID
Phone Number
Email Address
Kindly check the Terms and Eligibility here!
Sending to a Personal Bank Account (C2C or B2C)
- Bank Details
Recipient Account Number
Bank Account Title: Account Holder Name as listed on the account, in Roman characters
Bank Name
Bank Branch Name
Bank Address
SWIFT Code - Recipient Details
Recipient Name: Name should be the same as the Bank Account Title
Recipient ID Type & Number: Passport or Government Issued ID
Phone Number
Email Address
Relationship
Sending to a Business Bank Account (B2B)
Note: This feature is only available for business users!
- Bank Details
Recipient Account Number
Bank Account Title: Account Holder Name as listed on the account, in Roman characters
Bank Name
Bank Branch Name
CNAPS code: 12 digits
Bank Address
SWIFT Code - Recipient Details
Company Name
Company Registration Number: Unified Social Credit Code (统一社会信用代码), 18 digits
Phone Number
Contact Person Name: In English/Roman characters
Email Address
Company Address
New: Send CNY to Alipay users!
We heard you, we listened and now, we're excited to announce, you can start transferring CNY to individual recipients in China!
- How do I transfer CNY to Alipay Users?
- Log in to MoneyMatch via web browser and set up a CNY transfer to China.
- Tell us who you're sending to and enter your recipient's name and Alipay ID.
- Tell us why you're sending funds and confirm transfer details.
- Upload supporting documents and pay for your transfer.
- Once the order is "In Transit", tell your recipient to look out for a push notification from Alipay.
- Eligibilty
- The recipient must link their bank card to their Alipay ID to receive funds via MoneyMatch.
- The recipient must be a citizen from Mainland China, Hong Kong, Macao, and Taiwan.
The user must also have complete the real-name authentication on their Alipay account with the following documents:
- For Chinse Mainland users: Resident Identity Card
- For Hong Kong and Macao users: Mainland Travel Permit for Hong Kong and Macao Residents, Residence Permit for Hong Kong and Macao Residents.
- For Taiwan users: Mainland Travel Permit for Taiwan Residents, Residence Permit for Taiwan Residents.
- How will my recipient receive the funds via Alipay?
Thus, before you set up the transfer, please ensure your recipient follows the steps below to make sure that the recipient account is ready to receive funds.
- Log in to Alipay and complete the identity verification.
- Find 跨境汇款 (Global Remittance) mini program in the Alipay app and link their bank card to their Alipay ID.
- Provide their name and Alipay ID to you, it can be either the mobile number or email address.
- The recipient will get a notification once you have transferred the funds.
- What will happen if my recipient has not linked their card to Alipay?
If the recipient's bank card is not linked to their Alipay ID yet, they will have to link it within 72 hours after the order has been processed by MoneyMatch.
If the steps are not completed, the transaction will be rejected and returned to MoneyMatch for further action.
If your recipient did not receive the push notification from Alipay, kindly Submit a Request and reach out to us for further assistance!