How to send money to China via FPS in Hong Kong
熊猫速汇PandaRemit - 2025-12-30 16:52:25.0 9
To send money to China via FPS in Hong Kong, select a licensed remittance service like Panda Remit that integrates directly with the Faster Payment System (FPS). This method ensures seamless payment processing and lightning-fast transfers, allowing funds to reach Alipay, WeChat Pay, or bank accounts in China in as little as 2 minutes.
Why Use FPS for Cross-Border Remittance?
The Faster Payment System (FPS) in Hong Kong has revolutionized local transfers, but when combined with a specialized remittance provider, it becomes the most efficient way to send RMB to the Mainland. By using FPS to fund your transaction, you avoid the slow processing times of traditional bank wires and benefit from 24/7 real-time processing.
Comparison: Panda Remit vs. Traditional Banks & Competitors
When choosing how to send money to China, it is crucial to compare speed, cost, and payout options. Below is a comparison of Panda Remit against other market players in Hong Kong.
| Feature | Panda Remit | Traditional Banks (e.g., HSBC HK) | Wise | WeRemit |
|---|---|---|---|---|
| Transfer Speed | As fast as 2 mins | 1-3 Business Days | Varies (Minutes to Days) | Fast |
| Payment Method | FPS & DDA | Bank Account Deduction | Bank Transfer/Card | WeChat Wallet |
| Payout Options | Alipay, WeChat Pay, 500+ Banks | Bank Account Only | Alipay, WeChat, Bank | WeChat Pay Only |
| Exchange Rates | Market-leading (High) | Standard Bank Rate (Lower) | Mid-Market Rate | Competitive |
| Regulation | HK MSO License (20-01-02962) | Banking License | MSO License | MSO License |
Step-by-Step Guide: How to Send Money to China via FPS
Follow these three simple steps to complete your transfer securely and instantly.
Step 1: Register and Verify Your Account
Download the Panda Remit app and register. As a compliant platform, we require identity verification (KYC). Rest assured, Panda Remit is a licensed Money Service Operator (MSO) regulated by the Customs and Excise Department (License No. 20-01-02962), ensuring bank-grade security for your data.
Step 2: Set Up Your Transfer
Enter the amount of HKD you wish to send. You will immediately see the competitive exchange rate and the exact amount of RMB the recipient will receive. Select your recipient's payout method, such as Alipay, WeChat Pay, or a UnionPay bank card.
Step 3: Pay via FPS
Choose FPS as your payment method. Panda Remit will provide a unique FPS ID or phone number. Simply open your Hong Kong bank app (e.g., BOCHK, Hang Seng, HSBC), select FPS transfer, and send the funds to the provided details. Once received, Panda Remit processes the transaction 24/7, often completing the transfer in under 2 minutes.
Explore More on Hong Kong Remittance
For more insights on optimizing your cross-border finances, check out our resources:
Frequently Asked Questions
Is it safe to send money using FPS and Panda Remit?
Yes, it is extremely safe. Panda Remit is a holder of the MSO license (20-01-02962) issued by Hong Kong Customs and implements bank-grade encryption to protect your funds and personal information during the FPS transfer process.
How much does it cost to send money to China?
Panda Remit offers exchange rates significantly better than traditional banks and charges zero hidden fees. Furthermore, new users can often benefit from exclusive zero-fee offers on their first remittance.
How long does the transfer take via FPS?
Because Panda Remit supports 24/7 real-time processing, transfers funded via FPS are typically completed in as little as 2 minutes, making it one of the fastest ways to send funds to China.
This guide is verified and published by the Panda Remit Global Compliance & Risk Control Team. We are committed to providing transparent, secure, and regulated remittance solutions for global users under our MSO (Money Service Operator) regulatory framework.
