With how advanced technology nowadays, you can send money with no unnecessary hassle and high fees. This is extremely beneficial if you want to pay your employees abroad, purchase property overseas, and others.
There are plenty of options when it comes to international money transfers. Each offer their own rate and variety of feature options. It shouldn’t be hard to find ones that provide you with easy payment tracking, zero hidden fees, and convenient access to helps and supports.
That being said, this article provides you with two of the best options on how to transfer money from China to Singapore in secure and practical ways.
Transfer Money from China to Singapore Using USForex
USForex is a company that offers platform services for foreign exchange via online. It has easy navigation no matter what your money transfer’s origin and destination countries. It supports both business and individual purposes of foreign currency money transfer.
Here are five easy steps on using USForex to transfer your money from China to Singapore:
- Make sure you have all the relevant information of the recipient banking details, such as their bank account name, number, bank code, ACH code, and Meps account code.
- Sign into your OFX account and check the most recent exchange rate between CNY to SGD.
- Input the bank account detail of your recipient.
- Select the menu Finalize Transaction to continue the transfer process.
- Complete the payment and then wait until your fund is delivered to the recipient.
Transfer Money from China to Singapore Using World First
World First is a UK-based company that specializes in foreign exchange service, with branches on UK, USA, Hong Kong, Australia, and Singapore. Their activities are regulated and authorized under FCA.
Here are six easy steps on using World First to transfer your money from China to Singapore:
- Sign up and sign into your account.
- Determine the amount of money you’re going to transfer, your recipient’s banking details information, and the destination currency.
- Wait until you’re being provided with the live exchange rate between CNY to SGD.
- Book the rate and wait to receive the trade confirmations.
- Send your money by debit card or through bank transfer.
- Complete the transfer process and be rest-assured that your money is sent to the recipient.
Another feasible method on how to transfer money from China to Singapore is via bank transfer. However, you will need to provide passport and valid visa as proofs that you’ve paid income tax on the money that you’re going to transfer. It can become a nuisance step, so you might want to use these foreign exchange services to perform international money transfer instead.
The methods of online fund transfer are getting more and more popular day by day, as there are plenty of new companies that provide the services. It’s also quite practical as you can directly transfer from your local bank account to most countries across the globe. Still, with how many options out there, it’s necessary to choose the right one that suit with your needs and circumstances.