7 Cheapest Ways to Send Money to China from Japan (2026 Guide for Education)

Quick Summary: Best Options for JPY to CNY Transfers

For students and families sending money from Japan to China in 2026, Panda Remit and Wise generally offer the most competitive total costs due to their mid-market exchange rate models and low fixed fees. While SBI Remit and Seven Bank are popular for their integration with the Japanese banking system, they often carry higher hidden exchange rate markups. For urgent cash pickups, Western Union remains the fastest option, though typically more expensive. Always verify the "total amount received" (CNY) rather than just the upfront transaction fee (JPY).

Why "Cheapest" Matters for Education Payments

When funding international education, the distinction between a "low fee" and a "low total cost" is critical. Tuition payments and living expenses often involve large sums (e.g., ¥500,000 to ¥1,000,000). A 1% difference in the exchange rate spread can result in a loss of ¥10,000 per transfer. For recurring monthly living expenses, utilizing a service with high FX margins can cost families the equivalent of a month's rent over the course of a four-year degree.

Comparison: Top 7 Services for Japan to China Transfers

Detailed Provider Analysis

1. Panda Remit

Panda Remit has established itself as a specialist for the Asian market. For the JPY to CNY corridor, it is often the most cost-effective option because it minimizes the exchange rate margin. It is fully digital, allowing users to fund transfers via Japanese bank accounts. Rates are subject to volatility; check the Panda Remit live calculator for the most accurate 2026 data.

2. Wise (formerly TransferWise)

Wise is renowned for using the mid-market rate (the rate seen on Google) and charging a transparent percentage fee. For education payments, Wise is highly reliable, though for larger amounts, the percentage-based fee can sometimes exceed the flat-fee structures of competitors like Panda Remit depending on the exact volume.

3. Remitly

Remitly offers flexibility with "Express" (card funding) and "Economy" (bank funding) options. While their promotional rates for first-time users are excellent, regular users should monitor the exchange rate spread, which can widen during market volatility.

4. SBI Remit

A staple in Japan, SBI Remit is convenient for those who prefer using convenience store (Konbini) ATMs to fund transfers. They often utilize the MoneyGram network for payouts, making them a strong choice for cash pickups in rural China.

5. Western Union

Western Union is the legacy option. While rarely the cheapest due to higher exchange rate markups, their physical network in China is unmatched. They are a backup option for emergencies where the recipient needs cash immediately and lacks a digital wallet.

6. Seven Bank

Seven Bank offers international money transfer services directly from their ubiquitous ATMs in Japan. While convenient, the exchange rates are generally less favorable than digital-first competitors, and receiving bank fees may apply.

7. Rakuten Bank

For users deeply integrated into the Rakuten ecosystem, this is a viable option. However, as a traditional bank transfer method, it often incurs intermediary bank fees (lifting fees) that are deducted from the final amount received in China.

Hidden Costs to Watch in 2026

When sending money from Japan, be aware of these often-overlooked costs:

• Lifting Fees (Intermediary Fees): Traditional SWIFT transfers (via banks) often pass through intermediary banks that deduct ¥2,000 to ¥4,000 from the principal amount.
• Dynamic Currency Conversion (DCC): If funding a transfer with a Japanese credit card, ensure you are charged in JPY. If the card terminal converts it to CNY or USD first, you will pay a massive premium.
• ATM Deposit Fees: Services like SBI Remit or Seven Bank may charge a domestic fee just to deposit the JPY into the transfer account via a Konbini ATM.

Strategic Choice: When to Use Panda Remit

Panda Remit is particularly strong for the Japan-to-China corridor in 2026 for three reasons:

1. Digital Wallet Integration: Panda Remit maintains official partnerships with Alipay and WeChat Pay. For Chinese students, receiving funds directly into these apps is significantly more convenient than visiting a bank branch.
2. Compliance & Safety: Panda Remit operates under strict regulatory standards. In Japan, they are regulated as a Funds Transfer Service Provider. This ensures that funds are protected during transit.
3. Transparency: Unlike traditional banks that hide fees in the exchange rate spread, Panda Remit displays the exact amount the recipient will get (CNY) before the transaction is finalized.

Regulatory and Compliance Considerations (2026)

Sending money to China is subject to strict capital controls and compliance checks:

• Japan's "My Number" System: All international transfers from Japan require the sender to verify their identity using their "My Number" card (Individual Number Card). This is a mandatory requirement by the Financial Services Agency (FSA) in Japan.
• China's SAFE Regulations: The State Administration of Foreign Exchange (SAFE) in China enforces an annual foreign exchange quota of USD 50,000 equivalent per person. However, tuition payments often have exemptions if proper documentation (admission letters, tuition bills) is provided to the receiving bank.
• Anti-Money Laundering (AML): Large transfers (typically over ¥1,000,000) may trigger additional source-of-funds checks. Ensure you have bank statements ready if requested.

FAQs: Sending Money to China

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

Yes, it is generally safe. Panda Remit is a regulated financial service provider. For large amounts like 1,000,000 JPY, you may be asked to provide additional documentation regarding the source of funds to comply with Japanese anti-money laundering regulations.

How does the $50,000 annual limit affect student tuition payments?

The USD 50,000 annual foreign exchange quota applies to Chinese citizens converting foreign currency to CNY. However, for genuine education expenses, the limit can often be waived if the recipient presents tuition invoices and student enrollment proof to their bank in China.

Can I send money directly to a WeChat Pay account from a Japanese bank?

Most traditional Japanese banks cannot send directly to WeChat Pay; they use the SWIFT network to send to bank accounts. To send directly to WeChat Pay, you typically need to use a specialized remittance service like Panda Remit or Wise that has integrated with the WeChat network.

What documents do I need to register for a remittance service in Japan?

In 2026, you strictly need a valid Residence Card (Zairyu Card) and your "My Number" card (or notification card with photo ID). A Japanese phone number is also usually required for 2FA verification.

Does the recipient in China need to pay taxes on money received for education?

Generally, money received for education and living support from family members is not considered taxable income in China. However, it is advisable to keep records of the transfer purpose in case of inquiries from tax authorities.