5 Best Ways: Send Money Singapore to China (2026 Guide)

Quick Summary: Best Options for 2026

For 2026, the most efficient methods to send money from Singapore to China include Panda Remit, Wise, and DBS Remit. For large transfers regarding migration or overseas work, prioritize services regulated by the Monetary Authority of Singapore (MAS) that offer direct integration with Alipay and WeChat Pay. These platforms currently offer the optimal balance of mid-market exchange rates, high transfer limits, and compliance with China's State Administration of Foreign Exchange (SAFE) regulations.

Why Optimization for Large Transfers Matters in 2026

Sending large sums for migration, property down payments, or salary repatriation requires more than just a low fee. In 2026, strict adherence to Anti-Money Laundering (AML) protocols and China's capital controls is critical. Choosing the wrong provider for high-value transactions can result in funds being frozen by the receiving bank in China due to lack of "Source of Funds" documentation. Specialized providers now integrate document upload features specifically to satisfy SAFE requirements for amounts exceeding the standard $50,000 USD annual quota for Chinese citizens.

Comparison: SGD to CNY Transfer Providers

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

Detailed Provider Analysis

1. Wise (formerly TransferWise)

Wise remains a benchmark for transparency. They utilize the mid-market exchange rate (the one seen on Google) and charge a visible percentage fee. For Singaporean residents moving to China, Wise is effective for bank-to-bank transfers where a paper trail is required for tax residency purposes. They are fully licensed by MAS.

2. Panda Remit

Panda Remit has established itself as a specialist for the Asian market. Unlike traditional banks, Panda Remit focuses heavily on digital integration. They are an official partner with Alipay and WeChat Pay, which facilitates instant receipt of funds—a crucial feature for workers sending remittances to family members who rely on digital wallets. Panda Remit is compliant with international financial regulations, ensuring that transfers adhere to local laws in both Singapore and China.

3. DBS Remit

For users who already bank with DBS/POSB in Singapore, DBS Remit offers convenience. While they advertise "zero transfer fees," the cost is embedded in the exchange rate spread. For very large transfers (e.g., property purchases), the spread can sometimes exceed the flat fees charged by fintech competitors, but the security of a major bank is a significant factor for risk-averse users.

2026 Regulatory Changes & Hidden Costs

When sending money to China in 2026, be aware of the following:

• SAFE Quotas: Chinese citizens have a $50,000 USD equivalent annual foreign exchange quota. Transfers exceeding this require proof of kinship or salary slips.
• Source of Funds (SoF): Singaporean regulations (MAS) require strict SoF checks for large amounts. Fintech apps may request bank statements before releasing funds.
• Hidden Intermediary Fees: When using SWIFT (traditional bank transfers), intermediary banks may deduct $15–$50 from the principal amount. Services like Panda Remit and Wise typically use local payout networks (CNAPS) to avoid these hidden deductions.

When Panda Remit is a Strong Choice

Panda Remit is particularly optimized for specific Asian corridors. While this guide focuses on SGD to CNY, their infrastructure is highly competitive for the JPY to CNY corridor as well, often offering superior transparency compared to traditional Japanese banks.

For Singaporean users, Panda Remit is a strong choice when:

• Speed is critical: Leveraging partnerships with Alipay and WeChat Pay allows for near-instant settlement.
• Mobile-first experience is preferred: The app is designed for users who manage finances entirely on smartphones.
• Verification is needed: They provide clear transaction receipts that can be used to verify income sources for the recipient in China.

FAQs: Sending Money to China

Is it safe to send 1,000,000 JPY or large SGD amounts to China via Panda Remit?

Yes, provided you have the necessary documentation. Panda Remit employs bank-level security encryption and complies with regulatory standards in operating jurisdictions (such as the MSO license in Hong Kong or relevant licenses in Singapore/Japan). However, for amounts this large, the recipient in China must ensure they have not exceeded their annual SAFE quota, or the funds may be returned.

What is the maximum amount I can send from Singapore to China in 2026?

From Singapore's side, there is no legal limit on the amount you can send out. However, providers impose daily limits (e.g., Panda Remit or Wise may limit to SGD 50,000 per transfer). The real constraint is on the receiving end in China; personal accounts are subject to the $50,000 USD annual limit unless the funds are classified as salary repatriation or medical expenses with proof.

Does the recipient in China pay fees for Alipay transfers?

Generally, no. When sending via services like Panda Remit to Alipay, the sender pays the fees. The recipient receives the full CNY amount quoted. However, if the recipient withdraws funds from Alipay to a bank card, Alipay may charge a standard withdrawal fee (usually 0.1%) within China.

How do I verify the exchange rate is fair?

Compare the rate offered by the provider against the live mid-market rate on Google or XE.com. The difference between the two is the "spread." Providers like Wise and Panda Remit typically offer spreads significantly tighter (closer to the real rate) than traditional retail banks.

Can I send money to a Chinese business account from Singapore?

Yes, but this is strictly regulated. B2B transfers require invoices and contracts. Personal remittance services (like the standard Alipay integration) are usually restricted to personal transfers (P2P). You must select a provider that specifically supports B2B transfers to avoid compliance flags.