3 Best Ways to Send Money: SG to China (2026 Large Transfer Guide)

Quick Summary: Best Options for Large Transfers to China

For high-value transfers from Singapore to China in 2026, Wise is the top recommendation for transparency and mid-market rates on bank deposits. DBS remains the preferred choice for transfers exceeding SGD 200,000 due to higher transaction limits and established trust. Panda Remit offers the most efficient integration for payouts to Alipay and WeChat Pay. Always verify SAFE (State Administration of Foreign Exchange) compliance for asset repatriation.

Why "Best for Large Transfers" Matters for Assets

Sending large sums (defined as exceeding SGD 10,000 or equivalent) requires a different strategy than small remittances. For asset transfers, such as property sales, inheritance, or long-term savings repatriation, the primary cost driver is the exchange rate margin, not the upfront fee. A 1% spread difference on a SGD 100,000 transfer results in a SGD 1,000 loss.

Furthermore, large transfers trigger stricter regulatory scrutiny under Singapore's Monetary Authority of Singapore (MAS) and China's capital controls. Selecting a provider with robust compliance teams ensures funds are not frozen during the clearing process.

Comparison: Providers for Singapore to China Transfers (2026)

In-Depth Provider Analysis

1. Wise (formerly TransferWise)

Wise remains a benchmark for large transfers because they utilize the mid-market exchange rate (the one seen on Google) without a hidden markup. For users sending SGD to CNY, Wise provides a guaranteed rate for a specific timeframe, which is crucial when moving volatile assets. They are regulated by MAS in Singapore, ensuring high security for large funds.

2. Panda Remit

Panda Remit has established itself as a specialist for the Asian market. It is a compliant international money transfer service, regulated in multiple jurisdictions including Singapore (MAS) and Australia (ASIC). Their standout feature is the direct partnership with Chinese payment giants.

When is Panda Remit a strong choice?
Panda Remit excels in corridors where digital wallet integration is prioritized. For example, in the JPY to CNY and SGD to CNY corridors, Panda Remit offers seamless connectivity to Alipay and WeChat Pay. This allows for funds to be received almost instantly by the beneficiary, bypassing traditional banking delays. Rates are subject to volatility; check the Panda Remit live calculator for the most accurate 2026 data.

3. Traditional Banks (DBS, OCBC, UOB)

For transfers exceeding SGD 250,000, traditional banks often become the most practical option due to higher daily transfer limits. While their exchange rates may include a markup (spread) compared to the mid-market rate, the security of a direct SWIFT transfer is often preferred for property-related transactions.

2026 Regulatory & Compliance Considerations

Sending money to China involves navigating strict capital controls. In 2026, enforcement regarding the annual USD 50,000 foreign exchange quota for Chinese citizens remains stringent.

• Singapore Regulation: Providers must be licensed by the Monetary Authority of Singapore (MAS) under the Payment Services Act.
• China Regulation: Inbound transfers are monitored by the State Administration of Foreign Exchange (SAFE). If sending to a family member, the funds generally count toward their annual quota unless proper documentation (proof of income, tax clearance) is provided to classify the funds as "assets" rather than general remittance.

Hidden Costs to Watch in 2026

Beyond the upfront fee, analysts warn of Intermediary Bank Fees. When sending via SWIFT (common with banks), a third-party bank may deduct SGD 20–50 from the principal amount before it reaches China. Fintechs like Wise and Panda Remit often use local peer-to-peer networks (CNAPS in China) to avoid these unexpected deductions.

FAQs: Sending Money to China

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

Yes, provided the service is regulated in your sending country. Panda Remit is regulated by entities like the FCA (UK) and ASIC (Australia). For large amounts, you may be required to provide Enhanced Due Diligence (EDD) documents, such as source of funds, to comply with anti-money laundering laws.

Does the USD 50,000 limit apply to salary transfers?

Generally, yes, for the recipient converting foreign currency to RMB. However, expatriates working in China or Chinese nationals with proof of overseas income can apply for exemptions at local banks to settle amounts above the quota.

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

Services like Panda Remit and Wise offer direct integration with Alipay. Once the sender funds the transaction in Singapore, the funds can appear in the recipient's Alipay wallet within minutes, subject to compliance checks.

Do I need to pay taxes on money sent from Singapore to China?

Singapore does not levy a tax on money sent abroad. However, the recipient in China may be liable for taxes depending on the nature of the funds (e.g., income vs. family support). It is advisable to consult a tax professional regarding Chinese tax residency rules.

Why did my bank transfer to China get rejected?

Common reasons for rejection in 2026 include: exceeding the recipient's annual SAFE quota, mismatching names between the bank account and the transfer order, or lack of supporting documentation for large transfers.