What is UnionPay Remittance?
Global Express Remittance (MoneyExpress), referred to as "UnionPay Remittance," is a convenient cross-border remittance service provided by UnionPay. Remitters outside of China can easily make cross-border remittances to UnionPay cards of 68 national and local banks within China, including Industrial and Commercial Bank of China, Bank of China, China Construction Bank, Agricultural Bank of China, Bank of Communications, Huaxia Bank, and Bank of Dalian, among others.
Unlike traditional cross-border wire transfers through banks, Global Express Remittance locks in the exchange rate at the time of remittance. The remitted funds are directly credited to the UnionPay card account in RMB. The recipient does not need to process the payment and can use it directly without paying any handling fees to the bank. The arrival time is real-time, generally not exceeding 12 hours.
Why choose UnionPay Remittance?
Real-time processing, fast arrival of funds
Low handling fees, saving over 50% in fees compared to bank transfers
Zero freezing risk, ensuring fund safety
Comparison of UnionPay Remittance and Other Remittance Methods
Remittance Method | UnionPay Remittance | Bank Wire Transfer |
Handling Fee | As low as HK$50 | Ranges from HK$100 to HK$250 |
Overseas Bank Fee | Not charged | Approximately HK$100 |
Payer Identity | No restrictions | Must be a customer of the remitting bank |
Time Required | Instant arrival at fastest | 2 to 3 working days |
Easy 3 Steps to Use UnionPay Remittance
Step 1
Fill in the payer and payee information
Step 2
Verify the payee's information through the system
Step 3
Confirm the exchange rate and complete the payment
FAQs
Who can use UnionPay Remittance?
✔️ Anyone who passes KYC verification can use the UnionPay Remittance service.
Can business accounts receive payments through UnionPay Remittance?
✖️No, remittances can only be made to UnionPay personal accounts, and the recipient's bank account must be opened with a Chinese resident ID. Accounts opened by individuals from Hong Kong and Macau are not supported.
How much money can I remit?
- The maximum amount per remittance is RMB 18,000.
- The daily remittance limit for each account is RMB 60,000.
How long does the remittance usually take?
Payments are generally posted in real-time and, in most cases, will reach the recipient's bank account on the same business day.
If your recipient has reached their daily receiving limit, the remittance will arrive the next day.
