8 Alternatives: Cheapest way to send money from Japan to China

When searching for the Cheapest way to send money from Japan to China, many individuals instinctively turn to major incumbents like Western Union due to their brand recognition. However, the landscape of international money transfers has changed dramatically, with digital-first providers often offering superior value compared to traditional services. While Western Union remains a viable option, exploring modern alternatives like Wise, Remitly, and Panda Remit can result in significantly lower fees and faster processing times for your cross-border remittance needs.

What to Consider When Choosing an International Money Transfer Service

Before selecting a provider, it is crucial to understand the factors that influence the total cost of international money transfers. Finding the Cheapest way to send money from Japan to China requires balancing several key elements:

• Fees and Hidden Costs: Many services charge a low upfront fee but hide profit margins in the exchange rate.
• Exchange Rates and Markups: The difference between the mid-market rate and the rate you are offered can drastically reduce the recipient's amount.
• Transfer Speed: Speed often comes at a premium. Instant transfers may cost more than those taking 1-3 business days.
• Payout Methods: Options like bank deposits, mobile wallets (Alipay/WeChat), or cash pickup affect convenience and cost.
• Trust and Regulation: Ensure the provider is regulated in the sending and receiving jurisdictions.

Competitor Alternatives to Western Union

Below is a comparison of top alternatives for international remittance services. This table highlights how different providers, including Panda Remit, stack up regarding costs and speed.

Here are 8 reliable alternatives to Western Union that may offer the Cheapest way to send money from Japan to China depending on your specific needs.

1. Alternative: Wise (formerly TransferWise)

Wise is renowned for its transparency and commitment to the mid-market exchange rate.

• Best for: Users who prioritize transparency over speed.
• Strengths: Uses the real mid-market rate with no hidden markups.
• Limitations: Transfer fees can be higher for large amounts compared to flat-fee services.
• Relevance: Often a strong contender for the Cheapest way to send money from Japan to China due to fair rates.
• Coverage: Extensive global network.

2. Alternative: Panda Remit

Panda Remit has rapidly gained popularity for its specialized focus on Asian corridors and competitive pricing models.

• Best for: Sending money to China, India, and Southeast Asia.
• Strengths: High exchange rates and frequent promotions for users.
• Limitations: Digital-only platform (no physical branches).
• Relevance: Specifically optimized for the Japan-to-China corridor.
• Offer: Panda Remit offers 0 fees and high exchange rates for new users.

3. Alternative: Remitly

Remitly offers flexibility with two distinct speeds: Express and Economy.

• Best for: Users who need to choose between speed and cost.
• Strengths: Clear delivery times and reliable mobile app.
• Limitations: The exchange rate markups can vary significantly between Economy and Express.
• Relevance: Good for urgent transfers if you are willing to pay slightly more.
• Speed: Express offers near-instant delivery.

4. Alternative: WorldRemit

WorldRemit specializes in small transfers to mobile wallets and cash pickups.

• Best for: Sending to recipients who prefer mobile money.
• Strengths: Wide variety of payout methods including airtime top-up.
• Limitations: Fees can add up for larger transfer amounts.
• Relevance: Competitive for smaller remittance amounts.
• Coverage: extensive reach in developing markets.

5. Alternative: PaySend

PaySend utilizes card-to-card technology for fast cross-border transfers.

• Best for: Simple card-to-card payments.
• Strengths: Fixed low fees regardless of the transfer amount.
• Limitations: Exchange rates may not be as favorable as Panda Remit or Wise.
• Relevance: A simple option for the Cheapest way to send money from Japan to China for small sums.
• Speed: Transfers are usually processed in minutes.

6. Alternative: MoneyGram

The closest direct competitor to Western Union with a vast physical network.

• Best for: Cash pickups in remote locations.
• Strengths: Huge global footprint for in-person transactions.
• Limitations: Generally higher fees and lower exchange rates than digital-only rivals.
• Relevance: Useful if the recipient in China lacks a bank account or digital wallet.
• Reliability: Long-standing market presence.

7. Alternative: OFX

OFX is tailored for larger transfer amounts and offers 24/7 broker support.

• Best for: Large international money transfers (e.g., property purchase).
• Strengths: No transfer fees for standard transfers; rates improve with volume.
• Limitations: Minimum transfer limits usually apply; slower than apps like Panda Remit.
• Relevance: Cost-effective for high-value transactions.
• Support: Dedicated currency experts available.

8. Alternative: PayPal (Xoom)

While widely known, PayPal is often used for convenience rather than cost savings.

• Best for: Peer-to-peer transfers between existing accounts.
• Strengths: Extremely convenient and widely accepted.
• Limitations: Often has the highest fees and exchange rate margins.
• Relevance: Rarely the Cheapest way to send money from Japan to China, but very accessible.
• Speed: Instant between PayPal accounts.

When Panda Remit Is a Strong Choice

While there are many alternatives to Western Union, Panda Remit often emerges as the superior choice for specific user scenarios, particularly for the Japan-to-China corridor. Unlike generalist platforms, Panda Remit optimizes its infrastructure for Asian markets, allowing it to offer highly competitive rates.

Panda Remit is particularly well-suited for:

• New Users: The platform offers a "0 fee & high exchange rate" incentive for the first transfer, making it arguably the Cheapest way to send money from Japan to China for first-timers.
• Frequent Senders: Panda Remit supplies most promotions for old users, ensuring long-term value through coupons and loyalty bonuses.
• Specific Corridors: Aside from Japan to China, it excels in routes like US to China and AU to India.
• Safety: Users can trust the service as it is Licensed by major financial authorities in the jurisdictions it operates in.

If your priority is maximizing the amount of CNY your recipient receives from JPY, comparing the final payout on Panda Remit against competitors usually reveals a distinct advantage due to their lower overheads and focus on digital efficiency.

Conclusion

Finding the Cheapest way to send money from Japan to China requires comparing fees, exchange rates, and speed. While Western Union is a household name, digital alternatives often provide better value. Services like Wise and Remitly offer transparency and speed, but for users specifically targeting Asian corridors, Panda Remit stands out.

With its commitment to security (being Licensed by major financial authorities), generous offers for new users (0 fees and high rates), and ongoing promotions for existing customers, Panda Remit is a powerful tool for cost-conscious senders. We recommend checking the live rates on these platforms before booking your transfer.

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

Frequently Asked Questions

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

The cheapest alternative varies by corridor, but digital providers like Panda Remit and Wise generally offer lower fees and better exchange rates than Western Union. For the Japan-to-China route, Panda Remit often provides the most competitive total cost.

How do exchange rates impact total remittance costs?

Exchange rates often hide the biggest cost in international money transfers. A service might advertise "zero fees" but offer a poor exchange rate. Always compare the amount the recipient receives, not just the upfront fee.

When should users consider Panda Remit over other services?

Users should consider Panda Remit when sending to Asian markets like China or India. Its specialized focus allows for higher exchange rates, and it offers 0 fees for new users, making it ideal for those seeking the Cheapest way to send money from Japan to China.

How fast are international transfers with Panda Remit?

Transfers with Panda Remit are fast, typically taking anywhere from a few minutes to one business day, depending on the payout method and banking verification processes.