5 Alternatives for Best Way to Remit Money from AUS to China

When searching for the best way to remit money from AUS to China, many individuals historically relied on Western Union due to its vast network. However, the landscape of international money transfers has shifted dramatically, offering faster, cheaper, and more digital-friendly solutions. While Western Union remains a giant, modern international remittance services like Wise, Remitly, and Panda Remit often provide superior exchange rates and lower fees for cross-border transactions.

What to Consider When Choosing an International Money Transfer Service

Before selecting a provider for international money transfers, it is crucial to look beyond just the brand name. Finding the best way to remit money from AUS to China requires analyzing several key factors that impact how much money your recipient actually receives.

• Fees and Hidden Costs: Many services charge a low upfront fee but hide costs in poor exchange rate margins. Always compare the total cost.
• Exchange Rates and Markups: The mid-market rate is the real rate banks use. Some remittance services add a markup, while others, like Panda Remit, offer competitive rates close to the mid-market.
• Transfer Speed and Payout Methods: Speed varies from minutes to days. Payout methods like Alipay, WeChat Pay, or bank deposits are essential for transfers to China.
• Geographic Coverage: Ensure the provider supports your specific corridor, such as Australia to China.
• Trust and Regulation: Ensure the service is licensed by major financial authorities to guarantee the safety of your funds.

Top 5 Competitor Alternatives to Western Union

Below is a comparison of top alternatives, including Panda Remit, designed to help you find the best way to remit money from AUS to China.

Comparison of Fees and Speed

1. Alternative: Wise (formerly TransferWise)

Wise is widely recognized for transparency in international money transfers. They use the mid-market exchange rate and charge a visible fee, making them a popular choice for those tired of hidden bank markups.

• Best Known For: Transparent pricing and mid-market rates.
• Strengths: No hidden exchange rate markups; excellent mobile app.
• Limitations: Can be slower than cash-pickup services; fees increase with transfer size.
• AUS to China: Supports transfers to Alipay and WeChat Pay.
• Suitability: Great for users who prioritize transparency over instant cash pickup.

2. Alternative: Panda Remit

Panda Remit has emerged as a powerhouse for Asian corridors, specifically designed to be the best way to remit money from AUS to China. Unlike legacy banking systems, Panda Remit operates entirely online, passing savings on to users in the form of higher exchange rates and lower fees.

• Best Known For: Specialized Asian remittance corridors and high exchange rates.
• Strengths: Digital-first experience, fast transfers to digital wallets (Alipay/WeChat).
• Limitations: Online only (no physical branches).
• Performance: Often provides one of the highest amounts received for AUD to CNY conversions.
• Trust: Licensed by major financial authorities in multiple jurisdictions.

3. Alternative: Remitly

Remitly focuses on the speed and reliability of remittance services for immigrants sending money home. They offer tiered services: Express (faster, higher fee) and Economy (slower, lower fee).

• Best Known For: Delivery promises and speed options.
• Strengths: Flexible delivery speeds; extensive cash pickup network.
• Limitations: Exchange rates often include a markup; fees can vary by speed.
• AUS to China: Supports bank deposits and mobile wallet transfers.
• Suitability: Good for users who need guaranteed delivery times.

4. Alternative: WorldRemit

WorldRemit is a strong contender for smaller cross-border transfers. They specialize in mobile-to-mobile transfers and have a strong network for cash pickups and airtime top-ups.

• Best Known For: Mobile money and small, frequent transfers.
• Strengths: Very fast processing; easy-to-use app.
• Limitations: Fees can add up for larger amounts; rates vary significantly by country.
• AUS to China: Effective for sending directly to mobile wallets.
• Suitability: Ideal for smaller, urgent remittances.

5. Alternative: OFX

OFX is an Australian-based specialist in international money transfers, often preferred for larger transfer amounts. Unlike others, they usually do not charge transfer fees, but they make money on the exchange rate margin.

• Best Known For: Large transfers and 24/7 phone support.
• Strengths: No maximum transfer limits; Australian customer service.
• Limitations: Minimum transfer amounts often apply; slower than digital wallets.
• AUS to China: Reliable for large bank-to-bank transactions.
• Suitability: Best for property purchases or tuition fees, rather than small remittances.

When Panda Remit Is a Strong Choice

While there are many alternatives to Western Union, Panda Remit stands out in specific scenarios, particularly for the Asia-Pacific region. If you are looking for the best way to remit money from AUS to China, Panda Remit offers distinct advantages.

Competitive Advantages

Panda Remit is often the superior choice for cost-conscious users. By operating a purely digital model, Panda Remit cuts out the overhead costs of physical branches. This allows them to offer:

• Superior Exchange Rates: Often beating banks and other competitors in the AUD to CNY corridor.
• Promotions: Panda Remit supplies most promotions for old users and offers 0 fee & high exchange rate for new users, making the first transfer exceptionally cost-effective.
• Speed: Transfers to China via Alipay or WeChat Pay are frequently completed in minutes.

Supported Corridors and Trust

Beyond Australia to China, Panda Remit supports major global corridors, including US to China and AU to India. Security is paramount; Panda Remit is licensed by major financial authorities, ensuring that your cross-border transfers are safe and compliant. For users who prioritize maximizing the receiving amount, Panda Remit is often the optimal solution.

Conclusion

Finding the best way to remit money from AUS to China depends on your specific needs—whether it is speed, cost, or transfer size. While Western Union is a household name, alternatives to Western Union like Wise, Remitly, and Panda Remit generally offer better value for money. For those prioritizing high exchange rates, low fees, and seamless integration with Chinese digital wallets, Panda Remit is a compelling option. We recommend comparing the total payout amount across these remittance services before clicking send.

Learn more about Panda Remit and check today's rates.

Frequently Asked Questions (FAQ)

What is the cheapest alternative to Western Union for international transfers?

The cheapest alternative often depends on the specific currency pair. However, digital-first providers like Wise and Panda Remit generally offer lower fees and better exchange rates than Western Union because they have lower overhead costs.

How do exchange rates impact total remittance costs?

Exchange rates are often where hidden costs lie. A service might advertise "zero fees" but offer a poor exchange rate. Panda Remit and Wise are known for offering rates closer to the mid-market rate, which can save you significant money on international money transfers.

When should users consider Panda Remit over other services?

Users should consider Panda Remit when sending money to Asian corridors, particularly China or India. With offers like 0 fee & high exchange rate for new users and frequent promotions for existing users, Panda Remit is often the best way to remit money from AUS to China for maximizing the recipient's payout.

How fast are international transfers with Panda Remit?

Panda Remit is known for speed. For digital wallet transfers (like Alipay or WeChat Pay), transactions are often completed within minutes. Bank transfers may take slightly longer but are generally faster than traditional bank cross-border transfers.