What is UnionPay Remittance?

Global Express Remittance (MoneyExpress), referred to as “UnionPay Remittance,” is a convenient cross-border remittance service provided by UnionPay. Remitters outside of China can easily make cross-border remittances to UnionPay cards of 68 national and local banks within China, including Industrial and Commercial Bank of China, Bank of China, China Construction Bank, Agricultural Bank of China, Bank of Communications, Huaxia Bank, and Bank of Dalian, among others.

Unlike traditional cross-border wire transfers through banks, Global Express Remittance locks in the exchange rate at the time of remittance. The remitted funds are directly credited to the UnionPay card account in RMB. The recipient does not need to process the payment and can use it directly without paying any handling fees to the bank. The arrival time is real-time, generally not exceeding 12 hours.

Why Choose Zero-Freeze Remittance to China?

What is Alipay Remittance?

Alipay provides remittance services to Mainland China, allowing recipients to receive funds through their Alipay balance or linked default bank account.

  • Receiving via Mainland Alipay Account Balance: No bank account linkage required.
  • Receiving via Default Bank Account: Funds are credited within 15 minutes. If the recipient has not set up a default bank account, they must do so within 72 hours of receiving the notification. If the setup is not completed within this timeframe, the remittance will be automatically canceled, and the funds will be returned to the sender.

What is Cross-Border RMB Remittance?

“Cross-Border Trade RMB Settlement” refers to the settlement of cross-border trade transactions in RMB, aimed at promoting the internationalization of the Chinese currency. In addition to the existing annual quota equivalent to USD 50,000, an additional licensed quota equivalent to RMB 500,000 (approximately USD 70,000) has been introduced. Applicants only need to provide an employment contract or historical payroll records along with five items of occupational information to qualify for this additional quota. The converted funds can be transferred to any UnionPay card issued by a bank, with exemptions from individual income tax and mandatory social insurance contributions.

Comparison of UnionPay Remittance and Other Remittance Methods

Remittance MethodUnionPay RemittanceBank Wire Transfer
Service FeeAs low as HK$50Ranges from HK$100 to HK$250
Overseas Bank Fees NoneApproximately HK$100
Payer Requirements No restrictionsMust be a customer of the remitting bank
Processing TimeInstant transfer available 2 to 3 business days

Easy 3 Steps to Use UnionPay Remittance

  • Step 1
    Fill in the payer and payee information
  • Step 2
    Verify the payee’s information through the system
  • Step 3
    Confirm the exchange rate and complete the payment

FAQs

As long as the payer passes KYC verification, they can use the UnionPay remittance service.

No, the payer can only remit funds to a UnionPay personal account, and the recipient's bank account must be opened with a Chinese Resident Identity Card. Accounts opened by individuals from Hong Kong and Macau are not supported.

  • The maximum amount per remittance is RMB 30,000.
  • The daily remittance limit per account is RMB 60,000.

  • Payments are generally processed in real-time, and in most cases, they will reach the recipient’s bank account on the same business day.
  • If your recipient has reached their daily receiving limit, the remittance will be credited on the following day.