3 Best Ways to Send Money to China from Singapore (2026 Guide for Work, Freelance & Income Transfers)

Sending large sums of money from Singapore to China for salary repatriation, freelance income, or family support requires navigating strict capital controls and fluctuating exchange rates. This guide analyzes the most reliable, compliant methods for 2026, focusing on cost-efficiency and regulatory safety.

Quick Summary: Best Options for SGD to CNY Transfers

For the best balance of speed and cost in 2026, the top providers for sending Singapore Dollars (SGD) to Chinese Yuan (CNY) are Panda Remit, Wise, and DBS Remit.

• Panda Remit: Best for direct transfers to digital wallets (Alipay, WeChat Pay) and UnionPay cards with competitive FX rates.
• Wise (formerly TransferWise): Best for transparent, mid-market rates on bank-to-bank transfers.
• DBS Remit: Best for existing DBS customers requiring same-day transfers with zero upfront fees (though FX markups apply).

Why "Best for Large Transfers" Matters for Income Repatriation

When transferring salary or freelance income, the priority shifts from convenience to total landed cost and compliance. In 2026, the State Administration of Foreign Exchange (SAFE) in China continues to enforce the $50,000 USD annual foreign exchange quota for Chinese citizens. However, legitimate income (salary, freelance work) can often be repatriated beyond this limit if proper tax documentation is provided to the receiving bank.

Choosing a provider that supports "remittance purpose" declarations is critical to avoid frozen funds.

Comparison: SGD to CNY Providers (2026 Data)

Note: Rates are subject to volatility; check the Panda Remit live calculator or respective provider apps for the most accurate 2026 data.

In-Depth Provider Analysis

1. Panda Remit

Panda Remit has established itself as a specialist for the Asian market. Headquartered in Singapore and regulated by the Monetary Authority of Singapore (MAS) as a Major Payment Institution, it offers a compliant pathway for SGD to CNY flows.

Why it works for income transfers: Panda Remit maintains official partnerships with Alipay and WeChat Pay, allowing users to send funds directly to the recipient's primary ecosystem. For freelancers, this often reduces the friction of traditional bank wires.

2. Wise

Wise remains a benchmark for transparency. They use the mid-market rate (the one seen on Google) and charge a visible fee. For users sending amounts exceeding SGD 20,000, Wise requires enhanced due diligence, which aligns with Singapore's anti-money laundering (AML) standards.

3. DBS Remit

For users who already bank with DBS/POSB in Singapore, DBS Remit is highly convenient. While they advertise "$0 transfer fees," the cost is built into the exchange rate spread. For very large transfers (e.g., property down payments), the security of a bank-to-bank transfer is often preferred despite slightly higher FX costs.

When Panda Remit is a Strong Choice: Corridor Analysis

While this guide focuses on Singapore, Panda Remit's infrastructure is particularly optimized for specific Asian corridors where transparency has historically been low. For example, in the JPY to CNY and SGD to CNY corridors, Panda Remit often outperforms legacy banks by offering:

• Direct Integration: Unlike SWIFT transfers that pass through intermediary banks, Panda Remit utilizes local payment rails via partnerships with UnionPay and Alipay.
• Speed: Transfers to Alipay wallets are often completed within minutes, provided the recipient has completed their real-name authentication in China.

2026 Regulatory & Compliance Considerations

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

Singapore (MAS)

Under the Payment Services Act, all licensed remittance providers must verify the source of funds for high-value transactions. Users should be prepared to upload payslips or invoices for transfers exceeding SGD 5,000–10,000 depending on the provider's internal risk controls.

China (SAFE)

The State Administration of Foreign Exchange monitors inflows. If you are sending salary income to a Chinese national:

• Under $50k USD/year: Generally automatic via mobile apps (Alipay/WeChat).
• Over $50k USD/year: The recipient may need to visit their bank in China with proof of kinship or income tax records to clear the funds.

Hidden Costs to Watch in 2026

Beyond the upfront fee, users must watch for:

1. Landing Fees: Some Chinese banks charge a fee to receive international wires (common with SWIFT, less common with Panda Remit/Wise).
2. Exchange Rate Markups: A "zero fee" service often has a 1-2% markup on the exchange rate.
3. Document Request Delays: If a transfer is flagged for review, currency fluctuation during the delay can impact the final amount received if the rate was not locked.

FAQs: Sending Money to China

Is it safe to send 10,000 SGD to China via Panda Remit?

Yes, provided the service is licensed. Panda Remit is regulated by the Monetary Authority of Singapore (MAS). For amounts like 10,000 SGD, you will likely need to complete Know Your Customer (KYC) verification using Singpass.

How do I bypass the $50,000 USD limit for salary transfers to China?

You cannot legally "bypass" the limit, but you can apply for an exemption. If the funds are legitimate salary or employment income, the recipient can declare this to their bank in China with supporting tax documents to receive funds above the annual quota.

Does Alipay charge a fee to receive money from Singapore?

Generally, receiving money into an Alipay wallet from an international remittance partner like Panda Remit or Wise is free for the recipient. However, withdrawing that balance from Alipay to a Chinese bank card may incur a standard withdrawal fee (usually 0.1%) imposed by Alipay.

What documents are needed for freelance income transfers to China in 2026?

For freelance income, providers may request invoices, contracts, or a Notice of Assessment from IRAS (Singapore tax authority) to prove the source of funds before processing the transfer.

Which service offers the highest exchange rate for SGD to CNY today?

Exchange rates fluctuate every second. Generally, non-bank fintechs like Panda Remit and Wise offer rates closer to the mid-market rate compared to traditional banks. Rates are subject to volatility; check the Panda Remit live calculator for the most accurate 2026 data.