For your first transfer of $100 or more from the U.S. to China, you can get $10 off. If you pay with a debit card, the money can arrive in WeChat/Alipay almost instantly.

You can also sign up for the LemFi remittance app while you're at it. It comes with a $50 reward, and transfers are also near-instant.

About Remitly

Founded in 2011, Remitly is an online money transfer company headquartered in Seattle, Washington. It currently supports transfers from as many as 17 countries to 85 countries, including China, which should cover the needs of most international students and overseas residents. Its website supports Chinese, making it relatively user-friendly. Recipients in China can also receive Remitly transfers through either Alipay or WeChat. For older users who are less familiar with bank accounts, WeChat and Alipay may actually be easier to use.

As for fees, Remitly charges a flat $1.99. The exchange rate looks similar to other transfer services: the slower transfer option is roughly in line with Google rates, while the faster option is a bit worse. If you're not in a hurry, the slower option is fine.

Sign-Up and Welcome Bonus

Right now, if you sign up for Remitly through a referral link, you can get an extra reward. See the beginning of this article for details.

How to Send U.S. Dollars to China

Here's how to use Remitly to send U.S. dollars to China and convert them into RMB.

  • After registering your account, choose Send to enter the transfer page. If you signed up through the referral link above, you can get your first transfer fee waived plus a $20 discount. In this example, we choose to send $50, and the recipient would receive 353.14 RMB at an exchange rate of 7.06. That's a bit worse than the directly quoted 7.11, but with a $30 discount, that exchange-rate loss is negligible.
  • After your first transfer, you'll be able to choose the transfer speed. Paying from a bank checking account with the slower option usually gives you a better exchange rate, but it may take more processing time. Paying by debit card is usually near-instant. Credit cards are strongly discouraged, since they may be treated as a cash advance and trigger high fees.
  • You can choose to send to a bank card, Alipay, or WeChat. However, note that Alipay and WeChat are really just intermediary receiving channels. The money still ultimately goes into the bank account linked to the recipient's WeChat or Alipay account. If you need the money inside Alipay or WeChat, you can transfer it there afterward. Or you can simply use that linked bank card as the payment method within WeChat or Alipay.

Receiving with Alipay

  • If you want to send to Alipay, you'll need to enter the ID linked to the Alipay account, which is usually the phone number or email address bound to Alipay. You can log in to your Alipay account and find it on the personal information page. Remember that the phone number must include the country/region code.
  • If you choose the Chinese-language interface, the recipient name should be filled correctly. For the transfer reason, you can generally choose something like providing funds to family.
  • Next, fill in the sender information. Once you've entered it once, you won't need to do it again for future transfers.
  • Then choose the payment type. If you select a bank card (debit card), you'll need to enter the card number, expiration date, and CVV (the three-digit security code on the back of the card).
  • If you choose a checking account or savings account, you'll need to enter the account number and routing number. You can find both on your checks, or call your bank if needed. Unfortunately, there is no direct bank login verification option.
  • Once everything is set up, you'll see the summary page. In this example, I paid by debit card. The first transfer waived the $2.99 fee and included a $20 discount, so paying $80 resulted in 627 RMB.
  • After submission, if no verification is required and Alipay has already been set up to receive these transfers, the money will be sent directly to the bank account linked to Alipay. Of course, if you need the money in Alipay itself, you can transfer it there from the bank account. If you're not sure how to set this up on the Alipay side, see: Alipay receiving section

Receiving with WeChat

To send money to WeChat, you'll need to enter the phone number linked to the WeChat account, including the country/region code. Similar to Alipay, WeChat acts as the intermediary receiver, and the funds are ultimately deposited into the bank account linked to WeChat.

  • For the first transfer, you'll need to set up a bank card in WeChat Wallet to receive remittances. You can also do this after the transfer by following the prompts in WeChat. You'll receive a text message saying there's a remittance waiting to be claimed, and you can tap it to complete setup.
  • After tapping it, you'll be redirected to WeChat. This is the WeChat remittance service, and it needs to be activated.
  • You must link a bank card in order to receive the money (any bank card already saved in WeChat can be used).
  • Face verification may be required.
  • Once setup is complete, the funds will arrive and be automatically transferred to the linked bank card.

Sending to a Bank Account in China

To send money directly to a bank account in China, you only need to enter the bank card number and provide ID information. The rest of the process is similar to receiving through Alipay, so we won't repeat it here. Funds sent to a bank account arrive in RMB, so there is no need for a dual-currency card.

Other Notes About Transfers

Exchange Rate

I made a transfer on November 8. At the time, the quoted CNY exchange rate was 6.34, while the express delivery rate was 6.27. Google’s rate at the time was 6.4. Overall, that’s still pretty decent. If you’re sending a larger amount and you’re not in a hurry, I’d recommend paying from a checking account—every little bit of savings helps.

Fees

There is a flat transfer fee of $1.99. In addition, the recipient does not pay any fees.

Limits

Remitly has three user tiers. Each tier comes with different transfer limits and different verification requirements. If you only send money occasionally and the amount is not large, a limit of $2,999 per day and $10,000 per month is probably enough. If you need higher limits, you’ll need to upload ID verification and provide more information.

Also, keep in mind that the recipient must comply with China’s annual foreign exchange limit of $50,000. All transfers count toward this cap, including money sent through services other than Remitly.

Identity Verification Review

I had used it a few times before, sending a few hundred dollars each time, and everything went very smoothly. Recently, I tried transfers of $1,000 + $3,000 + $3,000, which triggered an identity verification review. Here’s what happened.

  • On the Remitly side, there was no issue after submitting the transfer.
  • However, verification was triggered when receiving the money through WeChat, and a text message was also sent.
  • After clicking to submit supporting documents, I found that proof of income source was required. Acceptable documents included “bank statements showing salary deposits,” “salary/income verification,” “employment contract,” or “other employment-related supporting documents.” In my case, I was simply converting my personal USD into CNY, so I really could not provide those materials. I first tried submitting a BofA statement that included this pending transaction, but it was rejected in manual review. After that, I specifically included the income deposits into my BofA checking account and labeled them as salary income, but it still did not pass, and the transfer was automatically rejected afterward.
  • Then I received a refund notification from Remitly.
  • You can tell that this WeChat receiving review is quite strict. Based on the examples it provided, several types of documents can pass review (I forgot to take screenshots, so I’ll have to explain in text, 55555).
    • Bank statements showing salary deposits: you need a US checking account, and the transaction record must include the name of the company paying your salary, such as an ACH deposit with the company name.
    • Salary/income verification: a letter issued by your US employer that includes the recipient’s full English name, monthly income, and the name of the company paying the salary.
    • Employment contract: you can directly upload the contract signed between you and your US employer, including your name and monthly/annual income.
  • If the recipient and sender are not the same person, you may also need to provide proof of relationship. Once it is signed off on one time, it will not be reviewed again.

Promo for Sending Other Currencies

If you sign up for Remitly through the referral link now, you can get a $30 discount on USD-to-GBP transfers. To send $50, you only need to pay $20! The first transfer also comes with exactly 0 transfer fee~

If you do not have a UK bank account to receive the money, you can open a Wise account and then add a GBP balance to get UK bank account details for receiving transfers. After the transfer arrives, you can open a Wise USD balance, convert the GBP into USD, and then transfer it back to your own USD bank account.

After adding a GBP balance in Wise, you can find your UK account details on the details page. Enter that information into Remitly, and you can send money from the US to Wise’s UK bank account. Use an IBAN for the transfer.

Summary

The biggest advantage here is the straightforward pricing: no complicated fee calculations, and it tells you directly how much the recipient will get. Receiving money through Alipay or WeChat is also quite convenient, the transfer limits are relatively high compared with other platforms, and you can also upload documents to increase your limit.

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

Comparison of International Money Transfer Platforms

Platform Delivery Time Fees Receiving Method Limits Quick Take Sign-Up Bonus
LemFi Real-time $5.98 for transfers above 100, $6.98 below Alipay, WeChat, UnionPay card Up to $4,000 per transfer

Up to $8,000 per day

 High security, Chinese-language customer service, generous sign-up bonus Get $20
Remitly Real-time to 4 business days None (under $1,000, $2.99 per transfer) Alipay, WeChat, UnionPay card $2,999/day, $10,000/month, can be increased Fast delivery, no ID verification required, exchange rate is average Get $10
Panda Remit Real-time to 3 business days ACH $2.99-$6.99, Debit 0.8% Alipay, WeChat, UnionPay card $3,000/transfer, $9,000/day Good exchange rates, very low overall fees, user-friendly interface, smooth experience, solid Chinese-language support First transfer fee waived + better exchange rate
Western Union Real-time to 4 business days $0-$2.99 per transfer Alipay, UnionPay card $2,500 or $7,000/transfer Fast delivery, currently no fee for Alipay transfers, exchange rate is average Get a $20 Amazon gift card
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 ￥3.1W or ￥5W/transfer, $10,000/day Comprehensive features, supports many currencies, transparent fees Get $600 in fee-free transfers

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