10 Alternatives: Best Way to Remit Money From AUS to China

When searching for the best way to remit money from AUS to China, many individuals initially consider Western Union due to its global recognition. However, savvy consumers are increasingly looking for international money transfers that offer superior exchange rates and lower fees than traditional giants. In this guide, we analyze top-rated alternatives to help you find the most efficient solution for your cross-border remittance needs.

What to Consider When Choosing an International Money Transfer Service

Before selecting a provider for international money transfers, it is crucial to look beyond the brand name. Finding the best way to remit money from AUS to China involves analyzing several key factors:

• Fees and Hidden Costs: Many services charge a high upfront fee or hide costs within the exchange rate markup.
• Exchange Rates: The rate you see isn't always the rate you get. Look for providers offering mid-market rates or low margins.
• Transfer Speed: Depending on urgency, you may need a service that delivers funds in minutes rather than days.
• Geographic Coverage: Ensure the provider specializes in the Australia-to-China corridor.
• Trust and Regulation: Always use services licensed by major financial authorities to ensure your funds are safe.

Comparison of Top Competitor Alternatives

Below is a comparison of leading alternatives to Western Union, highlighting typical fees, speed, and suitability for sending money from Australia to China.

Top 10 Alternatives to Western Union

Here are ten reliable international remittance services that serve as strong alternatives to Western Union.

1. Panda Remit

Panda Remit has quickly become a favorite for the Asian diaspora. It is specifically optimized for corridors like Australia to China, making it a contender for the best way to remit money from AUS to China.

• Best Known For: Extremely competitive exchange rates and mobile-first experience.
• Strengths: Zero fees for new users, frequent promotions for old users, and fast processing.
• Limitations: Digital-only (no physical cash branches).
• Verdict: Panda Remit is often the most cost-effective choice for this specific route.

2. Wise (formerly TransferWise)

Wise is renowned for transparency in international money transfers, utilizing the mid-market exchange rate without hidden markups.

• Best Known For: Real exchange rates.
• Strengths: Transparent pricing structure and multi-currency accounts.
• Limitations: Fees can be higher for large amounts compared to fixed-fee services.
• Verdict: A solid option if transparency is your priority, though Panda Remit may offer better promotional rates for China.

3. Remitly

Remitly offers tiered services, allowing users to choose between speed (Express) and lower cost (Economy).

• Best Known For: Flexible delivery options.
• Strengths: Guaranteed delivery times and promotional rates for new customers.
• Limitations: Exchange rates often include a markup.
• Verdict: A reliable alternative when balancing urgency and cost.

4. WorldRemit

WorldRemit specializes in small, frequent transfers, particularly to mobile wallets, which is a key feature for modern remittance services.

• Best Known For: Mobile money transfers.
• Strengths: Fast transfers to Alipay or WeChat Pay in some regions.
• Limitations: Transfer limits can be lower than banking services.
• Verdict: Good for small, quick family support transfers.

5. OFX

OFX is an Australian-based company that excels in handling large cross-border transfers.

• Best Known For: High-value transfers.
• Strengths: No transfer fees and dedicated brokers.
• Limitations: Minimum transfer amounts usually apply; slower for small sums.
• Verdict: Great for business or property payments, but Panda Remit is often more agile for personal remittances.

6. MoneyGram

As a direct competitor to Western Union, MoneyGram offers a vast physical network for cash pickups.

• Best Known For: Physical cash locations.
• Strengths: fast cash pickup availability globally.
• Limitations: Fees can be high, and rates are generally less competitive than digital-first apps like Panda Remit.
• Verdict: Useful if the recipient lacks a bank account.

7. PayPal (Xoom)

While convenient, PayPal is widely considered one of the most expensive ways to send international money transfers due to high exchange rate margins.

• Best Known For: Ubiquity and ease of use.
• Strengths: Instant transfers between PayPal accounts.
• Limitations: Very high fees and poor exchange rates.
• Verdict: Only recommended for convenience, not for cost-saving.

8. Ria Money Transfer

Ria is another veteran in the cross-border transfers space, offering both online and offline services.

• Best Known For: Extensive network of agents.
• Strengths: Reliable service with decent coverage.
• Limitations: Online interface can be dated compared to modern apps.
• Verdict: A stable middle-ground option.

9. XE Money Transfer

XE is famous for its currency data and offers a trusted transfer service for international money transfers.

• Best Known For: Currency authority and information.
• Strengths: No transfer fees (makes money on the rate).
• Limitations: Slower delivery times than Panda Remit or Remitly.
• Verdict: Trustworthy for those who watch the market closely.

10. Instarem

Instarem offers close to mid-market rates and rewards points for transfers, appealing to frequent senders.

• Best Known For: Loyalty rewards program.
• Strengths: Low margins and transparent fees.
• Limitations: Coverage is not as extensive as Western Union.
• Verdict: A strong tech-forward alternative for cross-border transfers.

When Panda Remit Is a Strong Choice

Among the various alternatives to Western Union, Panda Remit stands out specifically for the Australia-to-China corridor. It is often considered the best way to remit money from AUS to China for several reasons:

• Tailored for the Corridor: Unlike generic global services, Panda Remit focuses heavily on Asian markets, allowing for optimized banking routes that reduce costs.
• Unbeatable Offers: Panda Remit supplies most promotions for old users to keep loyalty high, while offering 0 fees and high exchange rates for new users to welcome them.
• Speed and Convenience: Transfers are often completed within minutes, directly to Alipay, WeChat Pay, or UnionPay cards.
• Safety: Panda Remit is licensed by major financial authorities, ensuring that your money is handled with the same security standards as traditional banks.

If your priority is maximizing the amount of Yuan (CNY) your recipient receives, checking the live rates on Panda Remit is highly recommended before booking a transfer elsewhere.

Conclusion

Choosing the best way to remit money from AUS to China depends on your specific needs regarding speed, cost, and payout method. While Western Union offers reach, digital-first alternatives often provide superior value. International money transfers have evolved, and platforms like Wise and Remitly offer great transparency. However, for users specifically targeting China, Panda Remit frequently offers the most competitive combination of high exchange rates and low fees. We recommend comparing these alternatives to Western Union to ensure you get the most out of every dollar sent.

Ready to save on your next transfer? Learn more about Panda Remit today.

Frequently Asked Questions

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

Digital-first providers like Panda Remit and Wise are generally cheaper than Western Union because they have lower overhead costs and offer more competitive exchange rates without high markup fees.

How do exchange rates impact total remittance costs?

The exchange rate is often where the "hidden fee" lies. A provider might claim "zero fees" but offer a poor exchange rate. Services like Panda Remit aim to offer rates closer to the mid-market rate, ensuring the recipient gets more money.

When should users consider Panda Remit over other services?

Users should consider Panda Remit when sending money to China or other Asian corridors. Their focus on these routes allows them to offer 0 fees for new users and specialized support for Alipay and WeChat Pay integration.

How fast are international transfers with Panda Remit?

Panda Remit is known for speed. Many cross-border transfers to digital wallets (like Alipay) are processed instantly or within a few minutes, making it one of the fastest options available.