May 15, 2024 Travel Finance Int'l payments

Best Ways to Send Money from The UK to China in 2024

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Tolu osho

May 15, 2024

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Best Ways to Send Money from The UK to China in 2024

If you’re looking for the best way to send money from the United Kingdom to family, friends or businesses in China (or even to your own overseas bank account), you should consider money transfer services like OFX, Wise.

These are great alternatives to traditional banks when trying to send money to China from the UK. Compared to traditional banks that charge a fortune, they offer better exchange rates and lower fees to send money to China in no time.

You could also create a Pesa account today and send money to China from the UK for free and at an even better rate. This makes it an ideal choice if you want the safest, fastest and cheapest way to make your transfer.

In this comprehensive guide, we will explore the best methods for making these transfers, what you should consider before sending money, and how to use specific services like Pesa for efficient and safe transactions. we’ll explore the best ways to send money from the UK to China, considering factors like exchange rates, fees, and safety.

Best Ways to Send Money from the UK to China in 2024

Sending money internationally, particularly from the UK to China, has become increasingly streamlined thanks to a variety of modern money transfer services. Whether it's for business transactions, family support, or any other reason, choosing the right service to send money to China is crucial. In this comprehensive guide, we will explore the best methods for making these transfers, what you should consider before sending money, and how to use specific services like Pesa for efficient and safe transactions.

Best Ways to Send Money to China from the UK

When looking to send money from the UK to China, you have several reliable options:

  1. Bank Transfers: Many major banks offer the ability to send money to China. However, this method can come with higher international money transfer bank fees.
  2. Online Money Transfer Services: Providers like Pesa offer competitive exchange rates and lower fees compared to traditional banks.
  3. Specialized Money Transfer Apps: These apps provide user-friendly interfaces and enhancements in speed and cost-effectiveness.
  4. Peer-to-Peer Transfer Services: These platforms can offer an economical way to convert GBP to YEN and transfer funds directly to recipients in China.

Bank or Wire Transfers

Pros:

  • Reliable and secure.
  • Direct transfer from your UK bank account to a Chinese bank account.
  • Suitable for larger amounts.

Cons:

  • May involve higher fees.
  • Longer processing times.

 PayPal

Pros:

  • Convenient for smaller amounts.
  • Instant transfers (within minutes).
  • Widely accepted.

Cons:

  • Exchange rates may not be favorable.
  • Fees apply.

Statrys

Pros:

  • Online business account platform.
  • Competitive exchange rates.
  • Suitable for business transactions.

Cons:

  • Primarily for business use.
  • Limited personal account features.

Western Union

Pros:

  • Cash pickup option available.
  • Global network.
  • Quick transfers.

Cons:

  • Higher fees for cash pickups.
  • Exchange rates may vary.

Pesa (formerly Pesaper) as a better alternative

Pesa, formerly Pesapeer, is a Canadian-based digital financial service provider that offers international money transfers to over 40 countries from Nigeria, Canada and the United Kingdom. Pesa offers money transfers to China for free and at the best rates in the market via GBP to CNY, CAD to CNY and NGN to CNY. Pesa supports these payout methods. Alipay App, or Bank Account

Key information about Pesa

  • Transfer Fees: $0 on all transactions to China
  • Transaction Limit: The receiving limit for transfers is ¥50,000 per transaction. This applies to individuals and businesses.
  • Exchange rate: Highly competitive rate
  • Onboarding experience: Easy and seamless to download the app and complete the process
  • Speed: Transactions are processed within minutes.

How to Send Money to China from the UK with Pesa

Using Pesa to send money from the UK to China is straightforward:

  1. Sign Up and Log In: Create an account with Pesa and log in.
  2. Complete your KYC
  3. Create a wallet and fund it
  4. Enter the Transfer Details: Specify the amount you want to send, the recipient's details, and choose the payment method.
  5. Confirm Exchange Rate: Check the GBP to YEN rate provided by Pesa.
  6. Send and Track: Once everything is confirmed, send the money and your recipient will receive it in minutes.

Send money with Pesa - no delays or hidden charges

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