To coincide with the first day of the Year of the Snake - 10th February 2013 - you can now send money to China in a new way using the Xendpay online money transfer service. You can deposit Chinese Yuan in any Postal Savings Bank of China bank account.
This is in addition to our regular service which allows you to pay US dollars into any bank account in China. The service has been made possible via our partnership with Netelis Asia in Macau.
Pay into any Postal Savings Bank of China bank account
Alternatively, if your friend or family member has a PSBC bank account, you can now send Chinese Yuan direct to that account using Xendpay. All you need is their Chinese mobile number and the PSBC bank account details. Once you pay through Xendpay, we do the rest.
Low cost money transfer to China
The cost of the delivery using these methods is only 45 CNY, which is paid by the sender. This is on top of the transfer fee of around GBP 3.99/EUR 4.99 and an optional payment fee if using some payment cards or cash vouchers (free payment options exist in most currencies).
Next working day
While this is a new service for us, we will be expecting to make the transfers following anti-fraud and other checks the same day if done before 12:00 GMT or the next day if after. It will then take up to 1 more day for the funds to be deposited. We expect to introduce more rapid transfers once we have more experience of every element in the money transfer chain from you to China.
Xendpay No Surprises Guarantee!
All Xendpay money transfers are covered by our No Surprises Guarantee which means the amount that should arrive is exactly the amount quoted in Xendpay. Any differences will be refunded without argument!