Sign up for Panda Remit through our referral link to get extra rewards for new users. Current offers include no fee on your first transfer, an extra $5 discount for new users, and an exclusive exchange rate for new users. If you’re sending money from the U.S. to China, your first transfer effectively gets you a fee waiver plus $5 off—not bad. The rewards are automatically added to your account after you sign up; just select them when making your first transfer.

About Panda Remit

Panda Remit is headquartered in Singapore and currently supports cross-border transfers to more than 40 countries and regions worldwide. Its U.S. remittance service is provided by Wotransfer Fintech Inc., which is registered with U.S. FinCEN as a Money Services Business (MSB) and holds Money Transmitter Licenses in multiple states. Money transmission services in the U.S. are provided by Community Federal Savings Bank. Panda Remit operates online using a direct-service model, with the entire transfer process handled online. With no physical locations or intermediaries, it can significantly reduce transfer fees for users—sending money to China can cost about as much as a cup of coffee.

Panda Remit is primarily used through its app, though you can also sign up on its website and check exchange rates, fees, and supported transfer routes. I tried the app and found it very smooth and easy to use. Each step is clear, and the app responds quickly. You can contact online customer support during business hours if you have questions. The app is also available in Chinese, which makes it more convenient for Chinese speakers. Its exchange rates are quite competitive. The standard fee for transfers from the U.S. is currently $6.99 per transaction, though the exact fee may vary depending on the amount and destination. Its risk controls are relatively strict, so you must verify your identity before transferring money. However, you can complete the required forms, upload documents, and verify your face in the app, and the process is fairly quick.

Signing Up and Sign-Up Rewards

Sign up for Panda Remit through our referral link to get new-user offers, as described at the beginning of this article.

This sign-up offer is mainly for new users sending U.S. dollars from the United States. The available offers include fee savings and an exclusive exchange rate for new users. You can sign up with a phone number or email address, then verify it. After registering, you can download the Panda Remit app from the App Store; it is available in both the Chinese and U.S. app markets.

Setting Up the Sender’s Account

Panda Remit has relatively strict account verification requirements. First, you need to verify your email address or phone number. Then, complete identity verification in the app. You can use a passport, U.S. driver’s license, or proof of U.S. permanent residency. You can take a photo of your document directly in the app and upload it; it appears to recognize and verify the document automatically. Photos of a screen are not accepted—you must use the physical document. After uploading a photo of your document, you also need to complete facial recognition to pass verification.

How to Send U.S. Dollars to China

Here’s how to use Panda Remit to send U.S. dollars to China and have them converted to Chinese yuan.

  • After registering, select Transfer to open the transfer screen.
  • You can choose to send the money to a bank card, Alipay, or WeChat. Transfers to Alipay and WeChat are completed according to each platform’s requirements. The first time you use either service, you’ll generally need to authorize the service or link a bank card to receive the funds.
  • To receive money through Alipay, enter the name and phone number or email address associated with the account. You’ll also need to provide information about the sender and the purpose of the transfer.

Panda Remit offers two payment methods: ACH or debit card.

  • To use ACH, you need to link a bank account. Sign in through the Plaid platform. Most major banks are available, so just select yours.
  • If you think ACH is too slow, you can pay with a debit card. Visa and Mastercard transfers can arrive in as little as about 2 minutes, while ACH usually takes 3–5 business days.
  • You may be asked to verify your payment, so watch for a text message.
  • If you access the service using a non-U.S. IP address, Panda Remit may prompt you to switch to a U.S. IP address. That’s a thoughtful touch. Logging in to some banks from an unfamiliar IP address may trigger their risk controls, which can be a hassle.
  • If this is your first transfer, you’ll also need to set a payment password.
  • To receive money through Alipay, you need to enable its Quick Receive feature. For details, see the Alipay section on receiving transfers.
  • The steps for sending money to WeChat or a bank card are basically similar, so I won’t go into them here.

Other Transfer Details

Exchange Rate

I made a transfer on October 15, 2026. At the time, Panda Remit offered an exchange rate of 6.7661 RMB (or 6.6662 for transfers after the first one). Google’s exchange rate was 6.6916, and the Bank of China’s mid-market rate was 6.7253. Panda Remit’s rate was pretty good.

Fees

Panda Remit’s standard fee for transfers from the U.S. is currently $6.99 per transaction. The exact fee may vary depending on the transfer amount and destination country or region. New users can currently get the fee waived on their first transfer, along with an exclusive exchange rate. The actual fee and exchange rate are shown before you place your order.

Transfer Limits

The U.S. transfer page currently shows a per-transfer range of $100–$4,000. Actual daily or longer-period transfer limits may depend on the transfer route, account verification status, risk controls, and other factors. Check the limits center and order page in the app when placing your order for the applicable limits.

Delivery Time

Panda Remit currently supports ACH and debit card payments for transfers from the U.S. Transfers paid with Visa and Mastercard debit cards can arrive in as little as about 2 minutes, while ACH typically takes 3–5 business days. Transfers may take longer if they require manual review or are affected by weekends or holidays at the bank, processing times at the receiving institution, or other factors.

Transfers from China in RMB

Overview

Panda Remit previously partnered with domestic banks in China to offer transfers in RMB. However, this direct transfer feature was discontinued in August 2025. Currently, only foreign nationals living in China can use this transfer feature, and transfers are subject to manual review.

Tuition Payment Feature

Panda Remit has also launched a tuition payment feature for students studying abroad. If your school is on its list, you can pay your tuition directly to the school through the app, without first transferring the money to your bank account. According to Panda Remit, payments are fast, arrive in full, offer an exclusive exchange rate, and have low fees. You can try it with a small payment first.

Summary

Its biggest strength is its excellent app experience. Every step of the transfer process is clear, and verification can be completed entirely in the app, without going back and forth over email. Its Chinese-language services and customer support are also welcoming to Chinese users. In addition, its exchange rates are good and its fees are low, making its overall pricing highly competitive. It’s a good choice as your go-to app for everyday transfers.

For a comparison of other money transfer platforms, see the table below.

Comparison of International Money Transfer Platforms

Platform Delivery Time Fees Receiving Methods Limits Quick Take Sign-Up Bonus
LemFi Instant $5.98 for transfers of $100 or more; $6.98 for transfers under $100 Alipay, WeChat, UnionPay card Up to $4,000 per transfer

Up to $8,000 per day

 Highly secure, Chinese-language customer support, generous sign-up bonus Get $50
Remitly Instant to 4 business days No fee (for transfers under $1,000, $2.99 per transfer) Alipay, WeChat, UnionPay card $2,999 per day, $10,000 per month; limits can be increased Fast transfers, no ID verification required, average exchange rates Get $10
Panda Remit Instant to 3 business days ACH: $2.99–$6.99; debit: 0.8% Alipay, WeChat, UnionPay card $3,000 per transfer, $9,000 per day Good exchange rates, very low overall fees, user-friendly interface, easy to use, good Chinese-language support $5 discount + first transfer fee waived + exchange rate discount
Wise 1 hour to 2 business days Debit ($1.27+2.20%), ACH ($1.27+1.22%), wire ($5.41+1.06%) Alipay, UnionPay card ¥31,000 or ¥50,000 per transfer, $10,000 per day Wide range of features and currencies, transparent fees Get $600 in fee-free transfers

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