How does money transfer to China work?

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How does money transfer to China work?

This service allows consumers located outside China to send money to UnionPay issued cards in China. The service leverages UnionPay MoneyExpress network. It is a highly secure, convenient & efficient remittance solution. You can make a transfer 24/7 either from a laptop, tablet or your smartphone.

Which banks in China support money transfer?

Here is the latest listing of banks in mainland China that support this service.

Issuers Debit card Credit card
Industrial and Commercial Bank of China Limited    
Bank of China    
China Construction Bank    
Bank of Communications    
China Everbright Bank    
Hua Xia Bank    
Harbin Bank    
Bank of Shanghai    
Fujian Rural Credit Cooperative    
Linshang Bank    
Hunan Rural Credit Cooperative    
Qinghai Rural Credit Cooperative    
Guangdong Rural Credit Cooperative    
Henan Rural Credit Cooperative    

*This listing is subject to change.

Which countries can funds be sent to?

China only and as long as the receiver is Chinese citizen with a UnionPay card supporting MoneyExpress.

Which countries can funds be sent from?

Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta,Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden & United Kingdom.

How do I get started & make a transfer?

Sign Up to use today at https://secure.mifinity.com/auth/signup

What information is required about the recipient card holder ?

First name and surname in English characters only.
Card number of UnionPay card holder which should be 16-19 digits.

Can I send money to more than one person?

Yes. For each individual money transfer just add the required card holder details of the recipient.

When does the UnionPay cardholder receive the funds?

Domestic cardholders will receive remittance in RMB in real time or within 12 hours.

What does the cardholder need to do to receive the funds?

Cardholder does not need to do anything to receive the funds.

How do I know the amount the recipient will receive in CNY?

The CNY transfer amount is selected by the sender and this is the exact amount that will be remitted to the beneficiary.

How do I know the exchange rate?

The exchange rate will be displayed real time to you in the transaction window prior to you completing the payment transaction.

How is the conversion rate calculated?

MiFinity apply a small margin to the exchange rate as supplied to us from UnionPay.

Are there any fees charged to the sender for using this service?

Yes. Fees are calculated on the actual amount that you wish to transfer to a card holder and they are charged to your MiFinity eWallet.

  • Less than or equal 250.00 USD (1.90 USD)
  • 250.00-2,500.00 USD (0.76% of value in USD)
  • 2,500.00 USD and above (19 USD)

Are there any additional fees that the receiver of the funds pays?


Are there any limits to the amounts that can be transferred?

Yes. There are foreign exchange quotas which are controlled by the State Administration of Foreign Exchange (SAFE) in China.

The SAFE system conducts real time checks on the card holder’s quota which are currently the following:

Daily transaction limit 10,000 USD
Single transaction limit 5,000 USD
Annual transaction limit 50,000 USD

How do I know if the recipient card holder receives my money transfer?

You will receive an immediate email confirmation with transaction reference details. Note in order for the recipient to receive the funds onto their UnionPay issued card the cardholder must ensure they have instructed their issuing bank to accept international payments. In addition, you will also be able to view the transfer immediately within your MiFinity eWallet at https://secure.mifinity.com

Can I cancel a payment?

As soon as you confirm the transfer of funds by clicking on Make Payment the transfer is submitted and cannot be cancelled and /or reversed.

Who can I contact with a question re my money remittance transfer ?

You can contact our Client Services team at the following:

Email : clientservices@mifinity.com
Live Chat https://secure.mifinity.com
Tel : +44 28 9587 0100 . Note English speaking agents are available 9-5pm UK time

Does this support business money remittance?

This specific solution is for consumer to consumer. However, MiFinity does already offer a separate remittance solution for businesses. For further details please contact sales@mifinity.com