The Short Answer
For a bank deposit, Wise is usually the cheapest way to send money from the US to China: it uses the real mid-market USD/CNY rate and charges a small, visible fee. Remitly and WorldRemit are close behind and can deliver to an Alipay account, which is handy if that's where your recipient keeps their money.
But China isn't a corridor where you just chase the lowest fee. The recipient can only convert about US$50,000 a year into yuan, every transfer needs a stated purpose, and foreign money into Alipay or WeChat is capped. Get those right and the transfer is quick and cheap; ignore them and it can stall.
Cost is only half the story here
On most corridors you optimise for the cheapest rate. For China, optimise for a cheap rate and a clean transfer — within the annual limit, with a valid purpose, to the right kind of account. A blocked transfer costs far more than a few dollars in fees.
The Cheapest Services Compared
| Service | Typical cost | Exchange rate | Best for |
|---|---|---|---|
| Wise | Small ~0.5%-0.9% fee | Mid-market (no markup) | Lowest total cost; bank deposit |
| Remitly | Low fee; promos for new users | Small markup | Bank or Alipay, first-timers |
| WorldRemit | Low flat fee | Small markup | Alipay delivery |
| Western Union | Fee + rate markup | Marked up | Bank deposit, wide reach |
| Bank wire | $25-$50 + 2%-4% | Marked up | Large one-off transfers only |
See the exact fee on your amount with any of these calculators:
Delivery: Bank, Alipay or WeChat
China is overwhelmingly digital, but foreign money still mostly arrives through the banking system:
- Bank deposit: the standard route. Money reaches a Chinese bank account — Bank of China, ICBC, China Construction Bank or Agricultural Bank of China — usually in 1-2 business days, and it's the cheapest option for larger amounts.
- Alipay: a few services (WorldRemit, Remitly) can deposit straight into an Alipay account, which is convenient for everyday spending. Most others can't — the money lands in a bank account and your recipient moves it into Alipay or WeChat from there.
- WeChat Pay: fewer services offer direct WeChat delivery than Alipay, though some (such as Remitly) do; otherwise the recipient tops up WeChat from their linked bank card. Foreign money routed through these wallets is also capped — roughly ¥50,000 via Alipay and ¥30,000 via WeChat.
Don't assume an app can drop money straight into a WeChat wallet — most can't. A bank deposit is the most reliable route, and your recipient can shift it to Alipay or WeChat in seconds once it lands.
China's $50,000 Limit & the Rules
This is what makes China different from most corridors. To manage capital flows, China limits how much foreign currency each person can convert into yuan: about US$50,000 per person, per year. Crucially, that ceiling belongs to the recipient and covers all their incoming foreign currency, not just your transfer — so a relative who has already received money from elsewhere may have less headroom than you think.
Two more rules to know: every conversion needs a stated purpose — typically family support, tuition, or medical costs — and amounts above the annual quota require supporting documents and SAFE approval (China's foreign-exchange regulator). None of this is a problem for normal family transfers; it just means the recipient should be ready to confirm the purpose if their bank asks.
Avoid "underground" currency swaps and pooling several people's quotas to move a large sum — both are illegal in China and can freeze the recipient's account. For larger transfers, do it properly with documents, or split them across years.
The USD/CNY Exchange Rate
The yuan is a managed currency, so it moves in a narrower band than most. The real mid-market USD/CNY rate has recently been around 6.7-6.8 yuan per dollar — notably stronger than the 7.2-7.3 range of the past couple of years, which means your dollars buy fewer yuan than they did. Even so, the gap between a mid-market service and a marked-up one is real money.
On a $1,000 transfer, a 3% rate markup is roughly ¥200 (about $30) lost versus the mid-market rate. Favour services that give you the real rate (Wise) and check the live rate before you send.
The 2026 US Remittance Tax
New for 2026: from January 1, 2026, a 1% US federal excise tax applies to remittances funded with cash or a money order. Transfers funded from a bank account or a US debit/credit card are exempt.
Since app-based transfers (Wise, Remitly, WorldRemit) draw from your bank or card, they avoid the tax, while paying cash at a storefront agent may add 1%. Funding digitally keeps you clear of both the tax and the worst exchange rates. (Tax rules can change; confirm your situation before large transfers.)
How to Send Without Hiccups
- Check the recipient's remaining quota. The US$50,000/year limit is theirs and shared across all sources — confirm they have room before a big transfer.
- State a clear, true purpose. Family support, tuition or medical costs are standard; having it ready avoids delays if the bank asks.
- Prefer a bank deposit. It's the most reliable route and the cheapest for larger amounts; the recipient can move it to Alipay or WeChat afterwards.
- Use the mid-market rate. Start from Wise's real rate as your benchmark and compare what the recipient actually receives in yuan.
- Pay from a bank account or card, not cash. Digital funding is cheaper up front and keeps the transfer clear of the new 1% tax on cash-funded remittances.
Frequently Asked Questions
What is the cheapest way to send money to China?
For a bank deposit, Wise is usually cheapest — it uses the real mid-market USD/CNY rate with a small fee and no markup. Remitly and WorldRemit are strong alternatives, especially for Alipay delivery. With China, though, staying inside the annual forex limit and giving a valid purpose matters as much as the fee.
How much money can I send to China?
Each person in China can convert up to the equivalent of US$50,000 of incoming foreign currency into yuan per year — that is the recipient's annual quota, across all sources, not a per-transfer limit. Amounts above it need supporting documents (proof of income, tax records) and SAFE approval. Individual services also set their own per-transfer caps.
Can I send money directly to Alipay or WeChat?
Some services (such as WorldRemit and Remitly) can deposit into an Alipay account. Many others can only pay into a Chinese bank account, and the recipient then moves the money into Alipay or WeChat themselves. Foreign funds routed through these wallets are also capped — roughly ¥50,000 via Alipay and ¥30,000 via WeChat.
How long does a transfer to China take?
A bank deposit usually arrives in 1-2 business days, and card-funded express transfers can be faster. Larger amounts may take longer if the bank asks the recipient to confirm the purpose of the transfer before releasing the yuan.
Is there a tax on sending money to China in 2026?
Since January 1, 2026, a 1% US federal excise tax applies to remittance transfers funded with cash or a money order. Transfers funded from a bank account or US card are exempt, so app-based transfers (Wise, Remitly, WorldRemit) generally avoid it.
What is the USD to CNY rate?
The mid-market USD/CNY rate moves daily and has recently been around 6.7-6.8 yuan per dollar, stronger than the 7.2-7.3 range of recent years. Check the live rate before sending and favour services that give you the real mid-market rate.
Key Takeaways
- Wise is usually cheapest for a bank deposit; Remitly and WorldRemit can deliver to Alipay.
- The recipient can convert about US$50,000/year into yuan, across all sources — check their remaining room before a big send.
- Every transfer needs a purpose; most apps deliver to a bank or Alipay, rarely straight to WeChat.
- Fund from a bank or card to stay exempt from the 2026 1% cash-remittance tax, and check the live USD/CNY rate.
Send Smarter to China
China rewards getting the details right: a mid-market service, a bank deposit, a clear purpose, and a transfer that fits inside the annual quota. Run your amount through the calculators, check the live rate, and your money lands quickly and cheaply.