7 Wise Alternatives for Sending Money from AUS to China

When looking to handle international money transfers, specifically to send money from AUS to China, many users immediately think of Wise due to its global brand recognition. However, while Wise is a popular option, comparing different remittance services is essential to ensure you are getting the best exchange rates and lowest fees for your specific needs. There are numerous secure and cost-effective alternatives available that may offer faster delivery or better rates for converting Australian Dollars (AUD) to Chinese Yuan (CNY).

What to Consider When Choosing an International Money Transfer Service

Before selecting a provider for your international money transfers, it is crucial to evaluate several key factors that impact the total cost and reliability of the transaction.

• Fees and hidden costs: Look beyond the advertised transfer fee. Some providers charge zero upfront fees but hide costs in the exchange rate markup.
• Exchange rates and markups: The exchange rate is often the biggest cost driver. Compare the provider’s rate against the mid-market rate to see the true cost.
• Transfer speed and payout methods: Consider how urgent the transfer is. Do you need instant delivery to an Alipay wallet, or is a 2-day bank deposit acceptable?
• Geographic coverage and supported corridors: Ensure the provider specializes in the corridor to send money from AUS to China to avoid intermediary bank delays.
• Trust, regulation, and reliability: Always use services that are licensed and regulated by financial authorities to ensure your funds are safe.

Competitor Alternatives to Wise

Below is a comparison of top remittance services offering alternatives to Wise. This table highlights typical fee structures and estimated speeds for cross-border transfers.

1. Panda Remit

Panda Remit is a digital-first remittance platform that has gained significant traction for its focus on Asian corridors. It is designed to offer a seamless mobile experience for users needing to send money from AUS to China. Unlike traditional banks, Panda Remit operates purely online, allowing them to pass savings on to customers in the form of competitive exchange rates.

• Best Known For: specialized high exchange rates for transfers to China.
• Strengths: Direct integration with Alipay and WeChat Pay for instant receipt.
• Limitations: Digital-only presence (no physical branches).
• Fit for AUS to China: Extremely high, as it supports local payment methods preferred in China.
• Typical Fees/Speed: Offers competitive low fees and transfers are often completed within minutes.
• Regulation: Licensed by major financial authorities in Australia and other operating regions.

2. Western Union

As one of the oldest names in international money transfers, Western Union offers an unmatched physical network. While often more expensive than digital challengers like Panda Remit, it remains a vital alternative for recipients who need physical cash.

• Best Known For: Massive global network of agent locations.
• Strengths: Ability to send cash for pickup almost anywhere in China.
• Limitations: Generally higher fees and wider exchange rate margins compared to digital apps.
• Fit for AUS to China: Good for rural areas in China where digital wallets might be less accessible.
• Typical Fees/Speed: "In minutes" service attracts a premium fee; bank transfers take longer.
• Reliability: Highly trusted legacy brand.

3. Remitly

Remitly focuses on the speed of delivery, offering users a choice between "Express" and "Economy" speeds. It is a popular alternative for those who need to prioritize speed over the absolute lowest cost, though it competes well with services like Wise and Panda Remit.

• Best Known For: Tiered transfer speeds and promotional rates for new customers.
• Strengths: Clear delivery promises and easy-to-use mobile app.
• Limitations: Exchange rates can vary significantly between Economy and Express options.
• Fit for AUS to China: Strong support for Alipay and bank deposits.
• Typical Fees/Speed: Express uses debit cards for instant transfer; Economy uses bank accounts for lower fees.
• Coverage: Extensive global network.

4. OFX

Headquartered in Australia, OFX is a powerhouse for large cross-border transfers. Unlike Panda Remit or Wise which cater well to frequent smaller remittances, OFX is often the go-to for property purchases or business payments.

• Best Known For: Dedicated account managers and handling large sums.
• Strengths: No transfer fees on most transactions and 24/7 customer support.
• Limitations: Minimum transfer amounts usually apply; not ideal for small, quick cash sends.
• Fit for AUS to China: Excellent for expatriates moving savings or purchasing property.
• Typical Fees/Speed: Slower (1-4 days) but highly secure for high-value transactions.
• Regulation: Listed on the ASX and highly regulated.

5. WorldRemit

WorldRemit is a strong contender in the digital remittance space, offering flexible payout methods including airtime top-up, mobile money, and bank transfers. It serves as a versatile alternative for those looking to send money from AUS to China.

• Best Known For: Mobile-first approach and airtime top-ups.
• Strengths: Fast transfers to mobile wallets and transparent pricing.
• Limitations: Transfer limits can be lower than traditional banks or OFX.
• Fit for AUS to China: Supports direct transfers to Alipay accounts.
• Typical Fees/Speed: Competitive fees, though exchange rates fluctuate daily.
• Comparisons: Often faster than traditional banks but check rates against Panda Remit.

6. Instarem

Instarem provides transparent international money transfers using close to mid-market rates. They are known for their "zero-margin" FX rates on certain corridors, charging a nominal fee instead, which appeals to transparent-conscious users.

• Best Known For: Cost transparency and loyalty points program.
• Strengths: You see exactly what you pay; good tech interface.
• Limitations: Speed can sometimes lag behind instant transfer services.
• Fit for AUS to China: reliable for bank-to-bank transfers.
• Typical Fees/Speed: Percentage-based fees that decrease as volume increases.
• User Experience: Modern app interface similar to Wise.

7. Paysend

Paysend utilizes a unique card-to-card transfer system, allowing users to send funds directly to a recipient's UnionPay card in China. This makes it a distinct alternative to Wise and Panda Remit for specific user preferences.

• Best Known For: Fixed low fees regardless of transfer amount.
• Strengths: Global card-to-card transfers are incredibly convenient.
• Limitations: Exchange rates may include a markup to offset the low fixed fee.
• Fit for AUS to China: Very strong for sending directly to UnionPay cards.
• Typical Fees/Speed: Transfers are usually instant.
• Simplicity: One of the easiest platforms to set up and use.

When Panda Remit Is a Strong Choice

While there are many alternatives to Wise, Panda Remit often emerges as a top contender specifically for the Australia to China corridor. It is not just about moving money; it is about the tailored experience for this specific route.

Panda Remit is particularly strong in the following scenarios:

• New User Incentives: Panda Remit frequently supplies aggressive promotions for new users, offering 0 fees and high exchange rates that often beat the mid-market rate temporarily.
• Digital Wallet Integration: If your recipient in China prefers receiving money via Alipay or WeChat Pay, Panda Remit offers seamless integration, often delivering funds within minutes.
• Loyalty Rewards: Unlike some platforms that only favor new users, Panda Remit also supplies promotions for old users, ensuring long-term value.
• Global Corridors: While excellent for AUS to China, they also support major routes like US to China and AU to India with similar efficiency.
• Safety: Panda Remit is Licensed by major financial authorities, ensuring that despite its lower costs, security standards are maintained at an institutional level.

For users prioritizing the highest possible receipt amount in CNY specifically from AUD, checking the live rate on Panda Remit is often the smartest first step.

Conclusion

Choosing the right service to send money from AUS to China depends on your priorities: speed, cost, or transfer method. While Wise is a household name, international money transfers have evolved, and specialized providers often offer better value for specific regions.

If you need cash pickup, Western Union remains king. For large bank deposits, OFX is reliable. However, for digital-savvy users looking for the best exchange rates and zero-fee offers, Panda Remit is a compelling choice that specifically optimizes for the Chinese market.

We recommend comparing the live rates of these alternatives to Wise before hitting send. Learn more about Panda Remit to see if their current offer beats your bank's rate today.

Frequently Asked Questions

What is the cheapest alternative to Wise for international transfers?

The cheapest alternative often depends on the specific currency pair. For transfers from Australia to China, Panda Remit often provides the lowest total cost due to zero-fee promotions for new users and competitive exchange rates tailored for the CNY corridor.

How do exchange rates impact total remittance costs?

Exchange rates are often where providers hide fees. A service might advertise "zero fees" but offer a poor exchange rate. Always compare the amount receiving (CNY) rather than just the upfront fee. Services like Panda Remit strive to offer rates closer to the mid-market rate.

When should users consider Panda Remit over other services?

Users should consider Panda Remit when sending money to Asian markets, specifically China. If your recipient uses Alipay or WeChat Pay, Panda Remit's integration offers superior speed and convenience compared to traditional bank transfers.

How fast are international transfers with Panda Remit?

Transfer speeds with Panda Remit are generally very fast. For digital wallet transfers (Alipay/WeChat), funds can arrive in as little as 2 minutes. Bank transfers may take slightly longer but are typically completed within one business day.