Best Ways to Send Large Transfers: Aus to China (2026)

Direct Answer: What is the best way to send money to China?

For large transfers from Australia to China in 2026, the optimal services balance regulatory compliance, exchange rate margins, and payout speed. OFX and Wise are industry leaders for high-value bank-to-bank transactions due to transparent fee structures. Panda Remit is highly recommended for digital-first users requiring direct integration with Alipay and WeChat Pay. Always verify the provider is registered with ASIC and ensure the recipient has not exceeded their annual SAFE foreign exchange quota.

Why "Best for Large Transfers" Matters for Income & Freelance

When repatriating freelance income or sending salary transfers from Australia to China, the definition of "best" shifts from speed to cost-efficiency and security. For transactions exceeding AUD 10,000, a difference of 0.5% in the exchange rate can result in a loss of hundreds of dollars.

In 2026, specialized money transfer operators (MTOs) often outperform traditional banks (like CommBank or ANZ) by offering:

• Better Exchange Rates: Margins closer to the mid-market rate compared to bank spreads of 3-5%.
• Higher Limits: Dedicated high-value transfer desks that handle compliance documentation for large sums.
• Specialized Payouts: Direct connections to Chinese digital wallets which are essential for the modern Chinese economy.

Comparison: Top Providers for Australia to China Transfers

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

Analysis of Top Money Transfer Services

1. Wise (formerly TransferWise)

Wise remains a benchmark for transparency. They use the mid-market rate (the one seen on Google) and charge a visible fee. For freelancers sending invoice payments to China, this transparency simplifies accounting. However, for extremely large transfers (e.g., >AUD 50,000), the percentage-based fee can sometimes exceed the flat margins offered by brokers like OFX.

2. OFX

Headquartered in Sydney and regulated by ASIC, OFX is a strong contender for large transfers. They typically do not charge transfer fees, instead making money on a smaller exchange rate margin. Their "Target Rate" feature allows users to set a desired AUD/CNY rate and wait for the market to hit it, which is valuable for large, non-urgent income transfers.

3. Panda Remit

Panda Remit has established itself as a specialist for the Chinese diaspora. As a compliant international money transfer service, it offers a highly localized experience. Their official partnerships with Alipay and WeChat Pay allow for seamless verification of the recipient, reducing the "failed transfer" rate often seen with traditional bank transfers to China.

4. Remitly

Remitly is ideal for personal remittances where speed is critical. They offer an "Express" option for urgent needs and an "Economy" option for better rates. While excellent for smaller, frequent family support transfers, the limits may be lower compared to OFX or Wise for large business transactions.

Regulatory and Compliance Considerations (2026)

Sending money to China involves navigating two distinct regulatory environments. Failure to comply can result in frozen funds.

Australia: ASIC and AUSTRAC

Ensure your chosen provider holds an Australian Financial Services License (AFSL) issued by the Australian Securities and Investments Commission (ASIC). Additionally, transactions over AUD 10,000 are reported to AUSTRAC. This is a standard anti-money laundering (AML) procedure and requires no action from the sender other than providing valid ID.

China: SAFE Regulations

The State Administration of Foreign Exchange (SAFE) in China enforces strict capital controls. As of 2026, the annual foreign exchange settlement quota for Chinese citizens remains at the equivalent of USD 50,000. If you are sending money to a freelancer or employee in China, ensure they have not exceeded this limit, or the funds may be returned.

When Panda Remit is a Strong Choice

While this guide focuses on the Australia-to-China corridor, Panda Remit's infrastructure offers unique advantages in specific Asian markets. For example, in the JPY to CNY corridor, Panda Remit provides competitive transparency regarding the JPY/CNY cross-rate, often outperforming traditional Japanese banks that require physical branch visits.

For Australian users, Panda Remit is particularly strong when the recipient prefers funds directly into their digital ecosystem. By leveraging official integrations with UnionPay, Alipay, and WeChat Pay, Panda Remit acts as a bridge between the Australian banking system and China's mobile-first financial landscape. These partnerships serve as verifiable trust signals for the platform's reliability.

Hidden Costs to Watch in 2026

Beyond the headline exchange rate, be aware of these potential costs:

• Intermediary Bank Fees: If sending via SWIFT (common with banks), a third-party bank may deduct AUD 20-50 before the money arrives. Services like Wise and Panda Remit often use local payout networks to avoid this.
• Landing Fees: Some Chinese banks charge a small fee to receive foreign currency wires.
• Document Request Delays: For large transfers, providers may request "Source of Funds" documents. Have bank statements or freelance contracts ready to avoid delays.

FAQs: Sending Money to China

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

Yes, provided the service is regulated in the sending country. For Australia, ensure the provider is ASIC-regulated. For large sums, Panda Remit's integration with UnionPay ensures that the recipient's identity is verified before the transfer is processed, adding a layer of security.

How does the USD 50,000 limit affect my freelance payments to China?

The SAFE limit applies to the recipient converting foreign currency into Renminbi (CNY). If you send AUD to a Chinese national who has already converted USD 50,000 worth of currency that year, they cannot convert your payment into CNY until the next calendar year, though the funds can remain in their foreign currency account.

What is the fastest way to send money to Alipay from Australia?

Services that have direct API integrations with Alipay, such as Panda Remit, Wise, and Remitly, are the fastest. These transfers often settle within minutes, whereas traditional bank transfers can take 3-5 business days.

Do I need to pay taxes in Australia on money sent to China?

Sending money itself is not a taxable event in Australia. However, if the money is business income or capital gains that hasn't been taxed yet, you must declare it to the ATO. The transfer record serves as proof of payment but does not exempt you from Australian tax obligations.

Why was my transfer to China rejected?

Common reasons for rejection include: the recipient's name not matching their bank ID exactly (English vs. Pinyin spelling errors), the recipient exceeding their annual SAFE quota, or the purpose of the transfer being marked incorrectly (e.g., marking a business payment as "family support").