Do you need send money to China? If so, your money can be sent via our 24/7 online payments system, low fees and commissions and at a great CNY exchange rate. It is important to note however, that with CNY international payments to China, there are a number of restrictions which apply and could effect you.

Please see the below table detailing these various restrictions that you need to be aware of when you are looking to make payments using CNY.

Make sure that you follow these guidelines carefully as a failure to do so may end up with your payment being delayed or returned.

It would also be a good idea to check with the recipient to find out if they are able to accept payments in this currency prior to sending the payment. 

Transaction

Transaction permitted under RMB (CNY) trade settlement scheme

EU importer wishes to pay their supplier in China in CNY Yes. Exporters in China must be Pilot Enterprises (i.e. approved by the PRC regulatory authorities) in one of the 20 provinces and cities in China to participate in the RMB trade settlement pilot scheme
EU exporter invoices their buyer in China in CNY – buyer pays EU exporter in CNY Yes.

EU Corporate wishes to pay salary of employees based in China in CNY

Yes, but the funds must be paid to EU Corporate account with a bank in China. Corporate then has to arrange for payment to be made from their a/c in China to the employee

EU Corporate wishes to pay dividends to shareholders based in China in CNY

Yes, but the funds must be paid to EU Corporate account with a bank in China. Corporate then has to arrange for payment to be made from their a/c in China to shareholders
EU importer wishes to pay their supplier in China in another currency e.g. USD These transactions fall outside the RMB (CNY) trade settlement scheme’s scope but are permitted

 

EU exporter invoices their buyer in China in another currency e.g. USD. Buyer pays in USD

These transactions fall outside the RMB (CNY) trade settlement scheme’s scope but are permitted
Personal client wishes to send CNY payment to family/friends in China in CNY No. Personal remittances other than those listed below are not permitted.

Personal client wishes to send CNY payment to own account in China in CNY

Yes, subject to:

the beneficiary’s and remitter’s name being the same and

max. CNY 80K per day and

remitter being a Hong Kong ID holder (remitter must quote HK ID no. in the payment)

Personal client wishes to send money to Chinese Corporate in CNY e.g. to buy shares

No. Personal remittances other than those listed above are not permitted.

 

Send CNY now.