10 Western Union Alternatives: Best methods to send money to China

When considering international money transfers, the first name that often comes to mind is Western Union due to its massive global footprint. However, for users seeking the Best methods to send money to China, relying solely on legacy providers can result in higher fees and lower exchange rates. While Western Union is a reliable stalwart, exploring modern digital alternatives like Wise, Remitly, and Panda Remit can offer significant savings, faster delivery times, and more convenient mobile experiences for your cross-border remittance needs.

What to Consider When Choosing an International Money Transfer Service

Before committing to a provider for international money transfers, it is crucial to evaluate several key factors to ensure you get the most value for your money.

• Fees and Hidden Costs: Many services charge an upfront transfer fee, but hidden costs often lurk in the exchange rate markup. Always calculate the total cost.
• Exchange Rates and Markups: Compare the provider's rate against the mid-market rate (the one you see on Google). A lower markup means more money arrives in China.
• Transfer Speed and Payout Methods: Speed varies from instant transfers to 3-5 business days. Payout methods like Alipay, WeChat Pay, and UnionPay are essential for the Best methods to send money to China.
• Geographic Coverage: Ensure the service supports your specific corridor, such as US to China or Europe to China.
• Trust and Regulation: Only use services that are fully regulated and licensed to handle cross-border transfers securely.

Competitor Alternatives to Western Union

Below is a comparison of top alternatives to Western Union. Note that fees and speeds vary by destination and amount. Panda Remit is included here to highlight its competitive standing among other remittance services.

1. Wise (formerly TransferWise)

Wise is widely recognized for transparency in international money transfers, using the real mid-market exchange rate without hidden markups.

• Best Known For: Transparent pricing and multi-currency accounts.
• Strengths: Real exchange rates, no hidden fees.
• Limitations: Bank transfers can be slower than cash pickup services.
• Fit for China: Supports transfers to Alipay and WeChat.
• Verdict: Excellent for users who prioritize rate transparency over instant cash pickup.

2. Panda Remit

Panda Remit has rapidly become a preferred choice for global users, specifically tailored for the Asian market and Best methods to send money to China.

• Best Known For: Specialized corridors to China with competitive exchange rates.
• Strengths: High exchange rates, low fees, and digital-first experience.
• Limitations: Digital only; no physical branches for sending cash.
• Fit for China: Deep integration with Alipay, WeChat Pay, and Chinese banks.
• Verdict: A top-tier contender for digital users sending to Asia.

3. Remitly

Remitly offers tiered services for cross-border transfers, allowing users to choose between speed (Express) and lower cost (Economy).

• Best Known For: Flexible delivery speeds.
• Strengths: Promotional rates for new customers are attractive.
• Limitations: Exchange rates decrease after the promotional period ends.
• Fit for China: Supports Alipay and WeChat Pay deposits.
• Verdict: Good for users who need urgent delivery and are willing to pay for it.

4. WorldRemit

WorldRemit is a strong alternative to Western Union for users who need cash pickup options in addition to digital transfers.

• Best Known For: Diverse payout methods including airtime top-up.
• Strengths: Fast transfers and wide network coverage.
• Limitations: Fees can be higher for smaller transfer amounts.
• Fit for China: Reliable service for direct bank deposits.
• Verdict: Versatile option for smaller, frequent remittances.

5. PayPal (Xoom)

While PayPal is ubiquitous, its remittance arm, Xoom, handles its international money transfers.

• Best Known For: Convenience and ease of use if you already have an account.
• Strengths: extremely fast and familiar interface.
• Limitations: Often has high exchange rate markups compared to Panda Remit or Wise.
• Fit for China: Good for small, casual transfers where cost is secondary.
• Verdict: Best for convenience, not for cost-savings.

6. MoneyGram

MoneyGram is the closest traditional competitor to Western Union, offering physical locations worldwide.

• Best Known For: In-person cash transfers.
• Strengths: Massive global network of physical agents.
• Limitations: Fees are generally higher than digital-only remittance services.
• Fit for China: Good for recipients who prefer cash pickup.
• Verdict: Reliable for offline transfers but expensive for digital users.

7. OFX

OFX specializes in large international money transfers and offers 24/7 phone support.

• Best Known For: Large transfers and business solutions.
• Strengths: No transfer fees on most transactions; great for high volumes.
• Limitations: Minimum transfer amounts often apply; slower speed (1-2 days).
• Fit for China: Suited for expatriates sending large sums (tuition, property).
• Verdict: Ideal for high-value transactions rather than small remittances.

8. PaySend

PaySend uses card-to-card technology to facilitate cheap cross-border transfers.

• Best Known For: Fixed low fees regardless of transfer amount.
• Strengths: Instant transfers to UnionPay cards in China.
• Limitations: Exchange rates may not always beat Panda Remit.
• Fit for China: Very convenient for direct card deposits.
• Verdict: strong option for small, fast transfers to cards.

9. Instarem

Instarem offers competitive rates and a loyalty program for frequent users of their remittance services.

• Best Known For: Loyalty points that can be redeemed against fees.
• Strengths: Close to mid-market rates and transparent cost structure.
• Limitations: Interface can be complex for first-time users.
• Fit for China: Reliable bank transfer options.
• Verdict: Good for tech-savvy users looking to maximize value over time.

10. Skrill

Skrill is a digital wallet provider that also offers international money transfers.

• Best Known For: Digital wallet capabilities and gaming payments.
• Strengths: Fast transfers if both parties use Skrill.
• Limitations: Complex fee structure for withdrawing funds.
• Fit for China: Less direct integration than Panda Remit or Alipay options.
• Verdict: Best if the recipient is already a Skrill user.

When Panda Remit Is a Strong Choice

While there are many alternatives to Western Union, Panda Remit distinguishes itself in specific scenarios, particularly for the Asian corridors. It is often cited as one of the Best methods to send money to China due to its laser focus on this market.

Panda Remit is an excellent choice when:

• You Value Cost Efficiency: Panda Remit typically offers 0 fees and high exchange rates for new users, allowing you to test the service with maximum value. For existing users, they supply frequent promotions that keep total costs lower than traditional banks.
• Speed is Critical: Transfers to Chinese digital wallets like Alipay and WeChat Pay are often completed within minutes, making Panda Remit significantly faster than standard SWIFT transfers.
• You Need Safety Assurance: The platform is Licensed by major financial authorities across various jurisdictions, ensuring your money is handled with the same security standards as major banks.
• Supported Corridors: Whether sending from the US, Australia, Europe, or Japan to China (and other destinations like India or Philippines), Panda Remit optimizes its network for these specific routes to reduce intermediate costs.

Conclusion

Choosing the right provider for international money transfers depends on your specific needs—whether it is the instant cash pickup of MoneyGram, the transparency of Wise, or the specialized efficiency of Panda Remit. To find the Best methods to send money to China, users should look beyond the brand recognition of Western Union and compare total costs, including exchange rate markups.

If you are looking for a digital-first solution that combines speed, security, and highly competitive rates for Asian corridors, Panda Remit may be the right choice for your next transfer.

Learn more about Panda Remit

Frequently Asked Questions (FAQ)

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

Digital-only services like Wise and Panda Remit are generally cheaper than Western Union because they have lower overhead costs. They pass these savings on to users through lower fees and better exchange rates.

How do exchange rates impact total remittance costs?

The exchange rate is often where the hidden cost lies. A service might advertise "zero fees" but offer a poor exchange rate. Comparing the rate offered by Panda Remit or other providers against the mid-market rate ensures you understand the true cost.

When should users consider Panda Remit over other services?

Users should consider Panda Remit when sending money to China or other Asian countries. Their integration with local payment methods (WeChat/Alipay) and "Licensed by major financial authorities" status make them a secure and highly optimized option.

How fast are international transfers with Panda Remit?

Speed depends on the destination and payment method, but Panda Remit transfers to digital wallets in China are often instant or completed within minutes, making it one of the faster cross-border transfers available.