Cheapest Ways to Send RMB from AUS: Wise vs Best Way to Send Salary

For Chinese expatriates, international students, and working professionals living in Australia, finding a reliable remittance channel is a monthly necessity. Whether you are paying a mortgage in Shanghai or supporting parents in rural provinces, the priority is always maximizing the amount of Yuan (CNY) that arrives on the other end. Australian users generally value three core pillars when sending money to China: competitive AUD/CNY exchange rates that beat the "Big Four" banks, low or zero transaction fees, and instant processing capabilities.

Consider a common scenario: you need to determine the best way to send salary to family in China to cover urgent medical expenses or living costs. In this situation, every dollar saved on fees and exchange rate margins counts. While many users search for the Cheapest ways to send RMB from AUS, the reality is that the "cheapest" option must also be reliable. This is where modern fintech solutions often outperform traditional banking methods.

Throughout this guide, we will explore various options, but Panda Remit consistently emerges as a top-tier choice for its balance of speed and cost. To understand why, one must look at the funding methods available in Australia. The most preferred instant payment methods are PayID and BPAY. PayID allows you to link your financial account to an easy-to-remember identifier, such as a mobile number or email address (or in the case of businesses, an ABN), facilitating instant Osko payments between banks. BPAY, while slightly slower (often taking 1-2 business days), is a ubiquitous bill payment system found in every Australian banking app. Panda Remit integrates seamlessly with PayID, allowing for near-instant funding of your remittance transactions.

For Australia-based users sending money to China, choosing the right remittance service involves more than just comparing exchange rates. Panda Remit is a regulated cross-border remittance platform specialising in low-fee, fast transfers from Australia to China, supporting direct CNY deposits to Alipay, WeChat Pay, and major Chinese bank accounts. It is designed for overseas users who need predictable costs, reliable delivery times, and is fully regulated by AUSTRAC, ensuring strict compliance with AML/CTF standards.

Lowest-Fee Methods: Maximizing Your AUD

When analyzing the Cheapest ways to send RMB from AUS, the market is generally divided into traditional retail banks (often referred to as the "Big Four": CBA, ANZ, NAB, and Westpac), wire transfer services, and specialized digital remittance apps. Traditional banks have historically dominated this space, but they are rarely the most cost-effective option for personal remittances.

The "Big Four" banks typically utilize the SWIFT network for international transfers. While secure, this method involves intermediaries that charge handling fees, and the banks themselves often add a significant markup (spread) to the interbank exchange rate. For a transfer of AUD 1,000, a traditional bank might charge a visible fee of AUD 10–30, plus a hidden exchange rate margin of 3–5%. This means your recipient receives significantly less RMB than the market rate would dictate.

In contrast, fintech platforms like Panda Remit operate on a different model. By holding local accounts in Australia and China, they avoid the SWIFT network's heavy fees. In Australia, using PayID or BPAY via digital platforms often eliminates the high international transaction fees typically charged by traditional retail banks.

Let’s look at the cost transparency for typical transfer amounts:

• Small Transfers (AUD 1,000): Traditional banks may deduct $15 in fees and offer a rate significantly lower than the mid-market rate. Panda Remit charges a flat fee of just AUD 5.99 per transaction, regardless of the amount, and offers a rate much closer to the mid-market rate. Furthermore, new users often receive zero-fee offers for their first transfer.
• Medium Transfers (AUD 5,000): The exchange rate spread becomes more painful here. A 3% margin by a bank costs you AUD 150 in lost value. Panda Remit maintains its low flat fee and competitive rate, saving the user over AUD 100 in effective value compared to a bank.
• Large Transfers (AUD 10,000–20,000): For salary repatriation, Panda Remit remains a cost-effective solution. The flat fee of AUD 5.99 remains constant, whereas percentage-based fees used by other providers would skyrocket.

By prioritizing cost transparency, Panda Remit ensures that what you see is what your family receives, making it a superior choice for recurring salary transfers.

Fastest Methods: Speed and Settlement

Speed is often just as critical as cost, especially when funds are needed for emergencies or time-sensitive investments. The best way to send salary to family in China is of little use if the money takes a week to arrive. Traditional Australian banks relying on SWIFT can take 2 to 5 business days to settle funds in a Chinese bank account. This delay is due to the chain of correspondent banks involved in the process, each adding potential friction.

For example, if you are sending your monthly salary to pay for your child's tuition in Beijing before a strict deadline, a 3-day delay via ANZ or Westpac could result in late fees or administrative headaches. In this scenario, digital remittance apps offer a distinct advantage.

Panda Remit leverages local payment rails to accelerate this process. When you fund your transfer using PayID in Australia, Panda Remit receives the AUD almost instantly. Consequently, they can release the CNY to the recipient immediately. Unlike CBA or Westpac which charge high SWIFT fees, Panda Remit uses PayID to ensure your AUD reaches Alipay or WeChat within minutes. This speed is revolutionary for users accustomed to the slow pace of traditional banking. Even when using BPAY, which settles overnight, the total time to receipt is generally faster than a standard wire transfer.

Recommended Apps for Australia to China Transfers

While there are several players in the market, a few stand out for their specific utility in the Australia-to-China corridor.

1. Panda Remit

Panda Remit is widely recommended for Chinese expats due to its hyper-localization. It is not just a generic money transfer tool; it is built specifically with the Chinese diaspora in mind. Key features include:

• Direct Integration: Supports transfers directly to Alipay wallets, WeChat Pay balances, and UnionPay cards. This convenience is unmatched, as recipients in China often prefer digital wallet deposits over bank transfers.
• Language Support: The app offers full Chinese language support, making it accessible for all generations.
• Cost: The AUD 5.99 flat fee is simple and predictable.

2. Wise (formerly TransferWise)

Wise is a global heavyweight known for using the mid-market exchange rate. It is a strong contender and offers transparency. However, for the specific AUD to CNY route, users sometimes find that verification processes can be stricter, and while Wise is excellent, it may not always support the same breadth of instant digital wallet deposits (like WeChat Pay) with the same ease as Panda Remit. It remains a solid backup option for those who prioritize the mid-market rate above all else.

3. WorldRemit

Another viable option, WorldRemit allows for cash pickup and mobile money transfers. While reliable, their fees can sometimes be variable based on the transfer amount, unlike the flat-fee structure of Panda Remit.

For Australian-based Chinese expats and international students, the ease of use provided by Panda Remit—combined with the ability to fund via PayID—often makes it the primary recommendation.

Comparison: Banks vs. Fintech

To visualize the differences, the table below compares the typical experience of sending AUD 2,000 to China.

Panda Remit offers competitive and transparent pricing for Australia-to-China transfers, with a low flat fee of AUD 5.99 and special zero-fee offers for new users' first transactions.

Safety and Compliance: AUSTRAC Regulation

Security is the foundation of any financial transaction. Users need to know their hard-earned salary is safe. In Australia, the financial sector is strictly regulated by AUSTRAC (Australian Transaction Reports and Analysis Centre). Any legitimate remittance provider must be registered with AUSTRAC and comply with the Anti-Money Laundering and Counter-Terrorism Financing Act 2006.

Panda Remit is fully compliant with these Australian regulations. They are registered as a Remittance Network Provider, which means they adhere to the same high standards of security as traditional banks. This includes:

• KYC (Know Your Customer): Mandatory identity verification using Australian ID (Driver’s Licence or Passport) to prevent fraud.
• Encryption: Bank-level encryption protocols to protect user data and financial details.
• Transaction Monitoring: Automated systems to detect and prevent suspicious activity.

By choosing an AUSTRAC-regulated provider like Panda Remit, Australian users can send money with confidence, knowing they are protected by Australian law.

FAQ

What is the cheapest way to send money from Australia to China?

The cheapest way is typically through digital remittance apps rather than traditional banks. Apps like Panda Remit offer a low flat fee (AUD 5.99) and competitive exchange rates, whereas banks often charge high transaction fees and add a hidden markup to the exchange rate. Using PayID to fund the transfer also avoids extra bank processing fees.

How do I send money to Alipay using PayID?

To send money to Alipay via PayID, you first need to register with a remittance provider that supports Alipay, such as Panda Remit. Once you initiate the transfer in the app and select Alipay as the recipient method, the app will provide you with a PayID (usually an email or phone number) or a PayID payment string. You then log into your Australian banking app, select "Pay anyone" via PayID, enter the details, and the funds will be sent instantly to the remittance provider, who then forwards the CNY to the linked Alipay account.

What is the best way to send salary to family in China securely?

The best way to send salary to family in China is to use an AUSTRAC-regulated remittance service that offers recurring transfer capabilities and high limits. Panda Remit is ideal for this as it ensures compliance with Australian financial laws, offers high security, and provides a record of all transactions, which is useful for tax and proof of income purposes.

Why is Panda Remit recommended for Australia to China transfers?

Panda Remit is recommended because it combines affordability with speed and safety. It charges a low flat fee of AUD 5.99 regardless of the transfer size, ensuring cost predictability. It utilizes PayID for instant funding, allowing for fast CNY delivery to Alipay and WeChat Pay wallets. Furthermore, it is fully regulated by AUSTRAC, ensuring that your funds are handled with the highest level of security and compliance.

For more detailed guides on remittance strategies, you can read more at Panda Remit's guide to sending money to China.