Three Ways to Send Money to China Easily and Safely

There are several ways of sending money to China but in this blog, we will be mentioning three popular methods for transferring funds.
Online Wire Transfers via Bank
In order to send money from Australia to China you can select between bank wire transfer and third party wire transfer. For bank wire transfer, you need to log in to your bank account, add the wire transfer recipient details and initiate the remittance. You will be charged a certain fee for the type of money transfer.
Online Wire Transfers via Third Party
You can also send money through third party wire transfer. There are several online remittance agencies that offer this service at a low fee. Compared to banks, sending money through these agencies is cost-effective because their transfer fee is low and they offer competitive foreign currency exchange rates.
The recipient can either get the cash transferred in their bank account or collect it in cash from an agent location. They just need to carry an ID with them in order to get the money.
Online remittance is the most quick and easy option to send money from one country to another; however, it is important to choose a reliable agency. Banks are the safest mode but if you want to send money from an online agency, make sure it is licensed to carry out money transfer in different countries.
PayPal  
This is also a popular mode used to send money to China. Sender as well as receiver will need separate accounts to send and receive money. Once you have sent the money, recipient will get an email notification which will prompt them to log into PayPal to receive money. This is a fast mode of remittance and very secure.

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Compare Remittance Services when you Send Money Online to China

When making an international transfer, it is important to compare transfer fee, exchange rates, duration, taxes and other factors to get the best option. You also need to take the credibility of the online remittance agency before considering it for sending money.
If you are not comparing remittance service providers, you will end up spending more on each transaction. You will not only lose money but also put your personal information at risk. Whether you send money online to China or Philippines, you need to consider the following factors to compare service providers:
•    Exchange rates should be compared because these rates vary among various providers. Even a minor difference in exchange rate can make a huge difference to the amount received. FX rate comparison is importance especially if you are sending a large sum of money
Once you have compared the exchange rate, you need to compare the transfer fee. You need to consider that this fee may apply to the sender as well as the recipient.

Since transfer fee varies on the basis of amount being transferred, comparing the rates can help you save money. Many reputed agencies reduce their transfer fee during festive season. For instance, you can transfer money to China for free or send money to Philippines free because at times, some agencies even waive off the transfer fee if you are sending a large amount through them

•    You need to compare the taxes being charged by different agencies. Take services charges into consideration that may be deducted from the money transfer. These charges differ from one country to another.  They also depend on who is receiving the funds

•    Consider the duration of money transfer. Online agencies can send money within minutes or same working day