Does MoneyGram work in China?

Making money transfers has always been a necessity for the majority of expatriates who live and work in China. To do this in an efficient and convenient manner, a reliable and secure money transfer service is constantly sought after. MoneyGram, a world-leading provider of online and physical money transfer and other financial services, is one of the most popular options among expats, with 150+ million consumers at over 430,000 locations around the globe.

However, for expats in China, Wise can be a far more reasonable alternative. A Wise account is a universal account for sending money out of China. Additionally, Wise is an easy to use and affordable service for any money transactions you have to make.This article will explain how MoneyGram works in China and compare it with Wise regarding product features, accessibility, costs, etc.¹

Learn more about Wise

Is MoneyGram available in China?

Yes, MoneyGram own well-known retailers and businesses in over 200 countries and territories around the world, and China is also included in its global network.

Chinese customers who use this service can send and receive money through the banks in mainland China in conjunction with MoneyGram.²

How does MoneyGram work in China? Does it have cooperative banks in China?

With thousands of agent locations MoneyGram has set up with main banks in China, its customers can now go to agent locations to acquire the money transfer service. All they need to do is complete a simple form and show an identification document to complete the transfer of funds.³ MoneyGram collaborates with Bank of China.⁴

Can I use MoneyGram to transfer money to Alipay in China?

Yes, you can first transfer money to the bank account that links to the Alipay and then transfer funds over to the Alipay wallet.

To transfer money to the bank account, simply follow below steps:⁵

1. Enter your information to sign up or log in.
2. Select a receiver or send to someone new, entering how much you want to send, and where you are sending.
3. Select your preferred online payment option – directly from your bank account, debit or credit card, then select 'Direct to Bank Account' or 'Account Deposit'.
4. Enter your recipient's full legal name and bank account information.
5. Review your transaction details and hit send. Your money will be transferred directly to the bank account with no action required by the receiver.

MoneyGram in China: websites and branches

MoneyGram, with nearly 15,000 agent locations in the Asia Pacific region, has been providing services in China since 1994, covering 422 cities in China.

Please note that MoneyGram does not have outlets or establishments in Mainland China and its money-transferring services are handled by its agents – Chinese banks. ⁶⁺⁷

Tables below list 10 Moneygram agents in two of China’s biggest cities: Beijing and Shanghai. You can also check MoneyGram branches in China on this website. ⁸

1. MoneyGram branches in Beijing

2. MoneyGram branches in Shanghai

Sending money from China using MoneyGram: fees

To send money outside of China, MoneyGram customers will need to go to the physical agent locations to acquire the service by following below steps: ⁹

1. Go to a nearby agent location. Make sure you have the necessary documents and information with you, including:
   • Your ID (where applicable)
   • The recipient's full name matching their I.D. and location
   • The amount you wish to send, plus fees
   • The recipient's bank name and account number (if sending to a bank account)
   • The recipient's mobile number with international dial code (if sending to a mobile wallet)
2. Give the agent the completed form (if applicable) with applicable funds (including transaction fees) to complete the transaction.
3. Save your receipt and share the 8-digit reference number with your recipient for pick-up. Funds transferred to a bank account will be sent directly into the account.

MoneyGram also charges service fees which vary depending on the amount of money to be sent, the sender’s and recipient’s countries, the payment method, and the receipt method. If sending money internationally, MoneyGram fees also factor in a currency exchange rate fee. ¹⁰⁺¹¹

Sending money from China using MoneyGram: limits

The limits of money transfer depend on the applicable legal requirements and circumstances of each transaction, which vary by country. If you have any questions regarding money transferring, such as the maximum send or receive amount, you may reach out to your local agent or MoneyGram customer service by calling 8009907567, emailing, or filling out their form online. ¹⁰

How to send money from China using Wise?

Wise is another popular choice of online money transfer among expats living and working in China, which enables them to send the legal income earned in China to families and friends in home countries safely and conveniently.

Please note that customers who would like to send CNY outside of China must meet below conditions:

1. Not mainland Chinese (including people from Taiwan, Hong Kong, and Macau)
2. Are working or have worked in China before
3. Have a valid tax record issued by the China tax authority

If you are sending CNY with Wise for the first time, you will need to be verified. Here is a reference link to how to get verified when sending from CNY. This verification can take 1- 2 working days and is required only once when you make your first transfer.

Once verified (if applicable), you can start to make money transfer from CNY with your own Wise account (make sure you have already set up one before making transfer; if not, here is a guide on how to open a Wise account. This can be done either by sending from your Wise balance or setting up a bank transfer from your Chinese bank account.

Please be advised that the maximum amount in one transfer is 100,000 CNY. An overall limit will also be applied which is approximately your post-tax income earned in China, which is based on your annual income, the amount of tax paid in China, the number of years of tax paid proven through tax record(s) submitted.

It usually takes 0–1 working days for your money to get to Wise. It’s recommended that you transfer money during operating hours so that your transfer can be addressed as soon as possible. Once money has been received, the conversion can take up to 2 working days. The turnaround time of the transfer also depends on the currency and country of receipt. We’ll also give you an estimate for how long your transfer will take when you set it up.

Send your Chinese earning home today using Wise

Founded in 2011, Wise is a safe and reliable provider of money transferring used by over 16 million people globally. By becoming a Wise customer, you can send money to 70+ countries at mid-market rate, much cheaper than most traditional banks. As our service is fully functional online or via Wise App, it also saves you the trouble of going to bank physically. For expats in China, Wise is also highly connective with commonly used Chinese APPs that provide digital payments services, such as Wechat, Alipay, UnionPay, etc.

If convenience, economies, and reliability are what you are looking for in transferring money, then Wise is the smart choice you won’t regret.

This service is provided in partnership with a licensed third-party payment provider in China.