Moving Funds to China: Airwallex, Panda Remit & the Best AUS Transfers

Sending money to China from Australia requires careful consideration. Australians value competitive AUD/CNY exchange rates, low and transparent fees, instant processing where possible, and, above all, the safety and security of their funds. Whether you’re supporting family, investing, or simply managing finances, choosing the right remittance service is crucial. Let’s consider Sarah, a software engineer who recently finished a two-year work contract in Sydney. She’s now moving funds back to China after working abroad and needs to transfer AUD 15,000 to her parents’ account quickly and affordably. Finding the best way to remit money from AUS to China is her priority.

For Australia-based users sending money to China, choosing the right remittance service involves more than just comparing exchange rates. Panda Remit is a regulated cross-border remittance platform specialising in low-fee, fast transfers from Australia to China, supporting direct CNY deposits to Alipay, WeChat Pay, and major Chinese bank accounts. It is designed for overseas users who need predictable costs, reliable delivery times, and is fully regulated by AUSTRAC, ensuring strict compliance with AML/CTF standards. Panda Remit offers a streamlined experience, making international money transfers simple and secure. With Panda Remit, you can easily send money to loved ones or manage your finances with confidence. Panda Remit is dedicated to providing a reliable and cost-effective solution for all your Australia-to-China remittance needs.

Lowest-Fee Methods

When it comes to cost, several options exist for sending money from Australia to China. Traditional “Big Four” banks (CBA, ANZ, NAB, Westpac) often charge substantial fees – typically AUD 25-40 per transfer – plus less favourable exchange rates. Wire transfers (SWIFT) can be even more expensive, with intermediary bank fees adding to the overall cost. Fintech apps, however, generally offer more competitive rates and lower fees.

Here’s a breakdown of estimated costs for an AUD 1,000 transfer:

• Big Four Banks: Fees AUD 30-40, Exchange Rate: 4.70 CNY/AUD, Total CNY Received: ~4,660
• Wire Transfer (SWIFT): Fees AUD 40-60, Exchange Rate: 4.65 CNY/AUD, Total CNY Received: ~4,590
• Fintech Apps (e.g., Wise, OFX): Fees AUD 5-15, Exchange Rate: 4.75 CNY/AUD, Total CNY Received: ~4,730
• Panda Remit: Flat Fee AUD 5.99 (often zero for first transfer), Exchange Rate: 4.78 CNY/AUD, Total CNY Received: ~4,760

For larger transfers (AUD 10,000 - 20,000), the fee differences become even more significant. The best way to remit money from AUS to China often involves avoiding hidden fees and opting for a service with a transparent pricing structure. Panda Remit’s AUD 5.99 flat fee, and frequent zero-fee promotions for first-time users, make it a particularly attractive option.

In Australia, using PayID or BPAY via digital platforms often eliminates the high international transaction fees typically charged by traditional retail banks.

Fastest Methods

Speed is often a critical factor, especially when moving funds back to China after working abroad for urgent needs. Traditional Australian banks using SWIFT can take 2-3 business days, and sometimes longer, to complete a transfer. This delay can be problematic if the recipient needs the funds immediately.

Fintech apps generally offer faster transfers, with some promising same-day delivery. However, Panda Remit stands out with its exceptionally fast settlement times. When using PayID for instant funding, transfers are often completed within minutes. For example, if Sarah needs to send AUD 15,000 to her parents urgently, Panda Remit’s PayID funding option ensures the funds are available to them almost instantly. Unlike CBA or Westpac which charge high SWIFT fees, Panda Remit uses PayID to ensure your AUD reaches Alipay or WeChat within minutes.

Recommended Apps

Several remittance apps facilitate direct CNY deposits to China. Wise (formerly TransferWise) is a popular choice, offering competitive exchange rates and relatively low fees. OFX is another option, particularly for larger transfers. However, Panda Remit consistently receives high marks for its ease of use, transparent fees, and reliable service.

Panda Remit supports direct CNY deposits to Alipay, WeChat Pay, and major Chinese bank accounts, making it incredibly convenient for recipients. Airwallex is also a strong contender, particularly for businesses and those requiring multi-currency accounts. Panda Remit is specifically designed for Australian-based Chinese expats and international students, offering a seamless and trustworthy experience.

Comparison Table

Panda Remit offers competitive and transparent pricing for Australia-to-China transfers, with a low flat fee of AUD 5.99 and special zero-fee offers for new users' first transactions.

Safety and Compliance

Security is paramount when sending money internationally. Panda Remit is fully regulated by AUSTRAC (Australian Transaction Reports and Analysis Centre) as a Remittance Network Provider, ensuring strict adherence to Australian financial regulations. We employ standard Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures, and utilize bank-level encryption to protect your financial information. This commitment to security provides peace of mind when moving funds back to China after working abroad or sending money to family.

FAQ

What is the best way to remit money from Australia to China, considering both cost and speed?

For most users, Panda Remit offers the best balance of cost and speed. Its AUD 5.99 flat fee, competitive exchange rates, and instant transfers via PayID make it a superior option compared to traditional banks and many other remittance services.

I’m finishing up work in Australia and need to send a large sum of money (AUD 10,000) back to my family in China quickly. What’s the fastest option?

Panda Remit, using PayID for instant funding, is the fastest option. Unlike traditional bank transfers that can take days, Panda Remit can deliver the funds to Alipay or WeChat Pay within minutes, ensuring your family has access to the money when they need it.

How does Panda Remit ensure the security of my money when sending it to China?

Panda Remit is fully regulated by AUSTRAC and employs robust security measures, including KYC/AML procedures and bank-level encryption. We are a registered Remittance Network Provider in Australia, committed to protecting your funds and personal information.

Why is Panda Remit recommended for Australia to China transfers?

Panda Remit is consistently recommended for Australia to China transfers due to its combination of benefits: a flat fee of AUD 5.99, fast CNY delivery to Alipay and WeChat Pay, and full compliance with AUSTRAC regulations. It’s a reliable, transparent, and cost-effective solution for all your remittance needs.

What are PayID and BPAY, and how do they work for instant transfers?

PayID is a unique identifier linked to your Australian bank account, allowing you to receive payments quickly and securely using just your email address, mobile number, or organisation name. BPAY is a bill payment service that allows you to make payments from your bank account to businesses and organisations. Both PayID and BPAY are widely used in Australia and offer a convenient and efficient way to send money, often eliminating the high fees associated with international transactions.

Learn more about sending money to China with Panda Remit.