Cheap Transfer to China (Mainland) Bank

[Reawake]

Hi everyone,

I have had a CNY bank account in Mainland China for some time, but unfortunately, I haven’t found a cost-effective way to deposit money into it.

Revolut only allows transfers in USD to China, and with Wise, it’s only possible to send money to Chinese citizens. So far, I’ve been withdrawing CNY with my Visa card without fees and then manually depositing it into my account at the bank. However, this method is not particularly convenient.

A SWIFT transfer would result in extremely high fees.

Does anyone have an alternative solution?

 

[daniels27]

There is none official way because of capital restrictions in China. Each citizen is only allowed to transfer 50k USD per year in and out.

But there are many that should be willing to help as most Chinese want to take out money.

 

[Reawake]

Actually I would like to top up my Chinese Bank account only when I need the funds in it. I wouldn’t like to have a higher sum stored there permanently.

So there’s no EMI/service provider which I could use for my purpose?

 

[daniels27]

Actually I would like to top up my Chinese Bank account only when I need the funds in it. I wouldn’t like to have a higher sum stored there permanently.

So there’s no EMI/service provider which I could use for my purpose?

No. It is against the rules of China. Ask friends to help you out. There are many in China that are eager to sell CNY for anything convertible.