9 Cheapest Ways to Send Money: Australia to China (2026 Guide)

Why 'Cheapest' Matters for Assets & Long-Term Transfers

When repatriating assets or sending long-term financial support from Australia to China, the "headline fee" is often misleading. The true cost lies in the exchange rate margin—the difference between the mid-market rate and the rate the consumer receives. For a $50,000 AUD transfer, a 1% difference in the exchange rate results in a $500 loss, far exceeding any upfront transaction fee. In 2026, digital-first providers have tightened these margins significantly compared to traditional banks.

Comparison: Top Providers for AUD to CNY

Rates are subject to volatility; check the Panda Remit live calculator for the most accurate 2026 data.

Detailed Analysis of Top 9 Methods

1. Panda Remit

Panda Remit has established itself as a dominant player for the China corridor. Regulated by ASIC (Australian Securities and Investments Commission), they specialize in remittances to Asian markets. Their key differentiator is the direct partnership with Alipay, WeChat Pay, and UnionPay, allowing funds to land directly in a recipient's digital wallet within minutes. This bypasses many traditional banking delays.

2. Wise (formerly TransferWise)

Wise remains a benchmark for transparency, using the mid-market rate and charging a visible percentage fee. For users in Australia, Wise is excellent for medium-sized transfers where transparency is the priority over speed.

3. OFX

Headquartered in Sydney and publicly listed, OFX is a strong contender for large asset transfers (e.g., property sales or inheritance). They typically waive transfer fees for large amounts, making money on the exchange rate margin instead. They offer dedicated account managers, which is valuable for high-value transactions.

4. Remitly

Remitly offers a two-tier system: Express (faster, higher fee/lower rate) and Economy (slower, better rate). It is a viable option for urgent transfers where cost is secondary to immediate availability.

5. WorldRemit

Similar to Remitly, WorldRemit focuses on smaller, personal remittances. They offer diverse payout methods, including airtime top-up and cash pickup, though their FX margins can be wider than Panda Remit or Wise.

6. Revolut

Revolut's app-based banking alternative allows for easy currency exchange. While convenient for existing users, their weekend exchange rate markups can add unexpected costs for transfers initiated on Saturdays or Sundays.

7. Western Union

The legacy provider remains relevant due to its massive physical network. If the recipient in China lacks a bank account or digital wallet, Western Union's cash pickup network is unmatched, though this convenience comes with higher fees.

8. CurrencyFair

CurrencyFair operates a peer-to-peer marketplace model. While potentially offering great rates, liquidity for AUD to CNY can sometimes vary compared to major currency pairs like AUD to USD.

9. Australian Big 4 Banks (ANZ, CommBank, NAB, Westpac)

Traditional bank transfers are generally the most expensive option due to high swift fees and wider exchange rate margins. However, for amounts exceeding $100,000 AUD, some users prefer the perceived security of a major bank, despite the higher cost.

Regulatory and Compliance Considerations (2026)

Sending money to China requires strict adherence to both Australian and Chinese regulations.

• Australia (ASIC & AUSTRAC): All legitimate providers must hold an AFSL and report transactions over $10,000 AUD to AUSTRAC. Users should verify the provider's license number on the ASIC register before sending funds.
• China (SAFE): The State Administration of Foreign Exchange (SAFE) enforces an annual foreign exchange settlement quota of $50,000 USD equivalent per Chinese citizen. Transfers exceeding this limit may be rejected or require additional documentation proving the source of funds (e.g., salary, inheritance).

Hidden Costs to Watch in 2026

Beyond the upfront fee, users must be aware of:

• Intermediary Bank Fees: When sending via SWIFT (banks), intermediary institutions may deduct $15-$30 AUD before the money reaches China.
• Landing Fees: Some receiving banks in China charge a fee to credit the account.
• Dynamic Currency Conversion (DCC): Avoid providers that ask to convert currency at the "receiving bank's rate," as this is often significantly worse than the sending rate.

When Panda Remit is a Strong Choice: Corridor Analysis

Panda Remit's infrastructure is specifically optimized for Asian corridors. While this guide focuses on AUD, their performance in the JPY to CNY market highlights their technical capability. In the Japan-China corridor, Panda Remit offers high transparency and speed, a technical standard they replicate for Australian users. Their integration with the Alipay and WeChat Pay ecosystems allows for instant verification of the recipient's identity, reducing the risk of failed transfers due to incorrect bank details—a common issue with traditional SWIFT transfers.

FAQs

Is it safe to send 1,000,000 JPY or equivalent AUD to China via Panda Remit?

Yes, provided the service is regulated. In Australia, Panda Remit operates under an AFSL. For large amounts, you may be required to provide "Source of Funds" documentation to comply with anti-money laundering (AML) laws.

How does the $50,000 USD limit affect my transfer from Australia?

The limit applies to the recipient in China converting foreign currency to RMB. If you send AUD to a Chinese national who has already used their quota for the year, the funds may remain in their account as foreign currency (AUD) and cannot be converted to CNY until the next year, or they must provide documentation to SAFE to bypass the quota for specific purposes.

Can I send money directly to Alipay from an Australian bank account?

You cannot send directly from a bank account to Alipay without an intermediary. Services like Panda Remit and Wise act as the bridge, allowing you to pay via Bank Transfer or PayID in Australia, which they then settle into the recipient's Alipay wallet.

What is the fastest way to send money to China in 2026?

Digital wallet transfers via providers integrated with UnionPay, Alipay, or WeChat Pay are the fastest, often settling within minutes. SWIFT transfers via traditional banks typically take 2 to 5 business days.

Do I need to pay tax in Australia when sending money to China?

Generally, sending post-tax income to family is not a taxable event in Australia. However, large transfers are reported to AUSTRAC. If the money is for business or investment, different tax rules apply. Always consult a tax professional.