How to use Transferwise to transfer CNY for product payment
July 17, 2022How do I send CNY to Alipay users?
- Log in to Wise and set up a transfer to CNY.
- Tell us who you’re sending to and enter your recipient’s name and Alipay ID.
- Tell us why you’re sending money and confirm your details.
- Pay for your transfer.
- Tell your recipient to look out for a push notification from Alipay.
What currencies can I send from?
You can send money from a personal account from the following 24 currencies supported by Wise. USD, GBP, HKD, SGD, EUR, AUD, CAD, JPY, BGN, CZK, DKK, HUF, NOK, PLN, RON, SEK, HRK, MYR, NZD, AED, CHF, BRL, TRY and IDR. Business accounts are currently not supported.
Who can I send CNY to?
Anyone can receive money if they’re a Chinese citizen and have a bank card linked to their Alipay ID. You can send CNY to individual recipients but not businesses. Your money will arrive in your recipient’s bank linked to their Alipay ID within seconds. If their bank card isn’t linked to their Alipay ID yet, they’ll have to link it within 48 hours of you sending the money.
How much can I send?
Each transaction’s capped at 31,000 CNY, with an annual limit of 500,000 USD, or equivalent in CNY.