Panda Remit （熊猫速汇）

 

Panda Remit was founded in 2018, headquartered in Singapore, holds MSO license. Since its establishment, Panda Remit has always been committed to changing the traditional way of remittance, providing global users with safe, fast, convenient and fair price international remittance services, and establishing a new digital network.

With its professional ability and rich experience in the international payment field, Panda Remit has so far obtained several rounds of financing from Sequoia Capital, Lightspeed Capital and Next Capital.

In 2020, Panda Remit became a strategic partner with Alipay, and became the only remittance company selected by Mastercard2020 for the Mastercard Start Path program.

 

FX rate:

 

1 AUD = 4.7609 CNY

(Rate changes in real time, for reference only)

 

Money receiving methods:

 

Bank card, Alipay, WeChat

 

Payment methods:

 

Payto payment, PayID payment, bank transfer

 

Speed of arrival:

 

2 minutes to the account at the earliest.

 

Limit:

 

Minimum AU$100 and maximum AU$4999 for a single transfer, but no limit on how many times you transfer.

 

Handling Fee:

 

Free for a new user’s first order

For existing users: AU$5.99 per order (no hidden fees and extra charges)

 

Wise（formerly known as TransferWise)

 

 

Founded in 2011, Wise is a technology company headquartered in London, UK that specializes in cross-border money transfers, successfully listed on the London Stock Exchange (WISE) in 2021, with a current market capitalization of around $5 billion. As of 2023, Wise's three main products include Wise Account, Wise Business and Wise Platform.

 

FX rate:

 

1 AUD = 4.70304 CNY

(Rate changes in real time, for reference only)

 

Money receiving methods:

 

Bank account

 

Payment methods:

 

PayID, bank transfer, debit card, credit card

 

Speed of arrival:

 

It depends on the sending and receiving country and the payment method, usually instant.

Bank transfers may take longer, especially SWIFT transfers: up to 2 business days.

 

Limit:

 

Maximum 50,000 RMB (about AU$10,800) for a single transfer

 

Handling Fee:

 

When sending money from Australia to China in AUD, there is a fixed fee of 0.63 AUD + 0.41% of the amount to be exchanged (you can see the total amount of the fee in advance each time).

Take 1000 AUD for example:

PayID - 11.75 AUD

Bank transfer - 11.75 AUD

Debit card - 15.4 AUD

Credit card - 25.22 AUD

 

Disadvantages:

 

• Higher fees

• Fewer receiving method

 

Remitly

Established in 2011, Remitly is a online remittance service company located in Seattle, Washington State, US, currently offering cross-border remittance service to more than 150 countries/regions. In September 2021, Remitly went public and traded on the Nasdaq exchange (RELY) and currently has a market capitalization of around $5 billion.

 

FX rate:

 

1 AUD = 4.59 CNY

(Rate changes in real time, for reference only)

 

Money receiving methods:

 

Bank account, Alipay, Wechat

 

Payment methods:

 

Debit card, credit card, bank account

 

Speed of arrival:

 

Economy (ordinary remittance): payment by bank account, usually takes 5~7 working days to arrive.

Express (expedited remittance): payment by debit/credit card, takes a few minutes at the earliest

 

Limit:

 

Remittance to China, different receiving methods have the corresponding receiving limits

• Alipay: ¥50,000 per order.

• Bank Deposit: ¥21,000 per order.

• WeChat: ¥30,000 per order.

 

Handling Fee:

 

For new users: no handling fee for the first order

For existing users:

AU$2.99 for remittance amount less than AU$1,000

No handling fee for remittances of AU$1,000 or more.

 

Disadvantages:

 

Poor exchange rate

 

OrbitRemit

 

 

OrbitRemit was founded in 2008 and is based in Wellington, New Zealand. As an international money transfer platform, OrbitRemit wants to provide fast and low-cost cross-border transfers and currently only supports Australia and New Zealand remittances to nearly thirty countries/regions.

 

FX rate:

 

1 AUD = 4.61380 CNY

(Rate changes in real time, for reference only)

 

Money receiving methods:

 

Alipay

 

Payment methods:

 

Bank transfer, PayID

 

Speed of arrival:

 

One working day

 

Limit:

 

Each remittance can not exceed a maximum of 30,000 RMB.

Each recipient can receive a maximum of 5 remittances per month, also has an annual limit of 500,000 RMB

 

Handling Fee:

 

For new users: no handling fee for the first order

For existing users:

A small fee of AU$4 per transfer for all transfers below AU$10,000.

No handling fee for transfers over AU$10,000

*You can earn free transfers by using other people's invitation links or completing 10 successful transfers

 

Disadvantages:

 

• Fewer money receiving method

• Poor exchange rate

 

Ria Money Transfer

Founded in 1987, as part of the Euronet Worldwide Group, Ria Money Transfer operates on four continents, more than 190 countries/regions, with more than 500,000 service agencies worldwide, allowing senders to pay in-store or recipients to pick up their remittances in-store. It is now one of the largest money transfer service providers in the world.

 

FX rate:

 

1 AUD = 4.6193 CNY

(Rate changes in real time, for reference only)

 

Money receiving methods:

 

UnionPay Card, Alipay

 

Payment methods:

 

Credit card, debit card, PayID (only supported on the APP)

 

Speed of arrival:

 

The arrival time is affected by the payment method, using credit/debit card to send money, it usually arrives within 15 minutes - 3 hours.

 

Limit:

 

AU$20,000/day

 

Handling Fee:

 

New users: no handling fee for new user’s first order by filling in the invitation code.

For existing users: AU$2.89 per order

 

Disadvantages:

 

• Slow arrival

• High handling fee

 

 

Panda Remit, the choice of millions of users worldwide, provides safer, more convenient, more reliable and more affordable cross-border remittance services.

 

It now covers more than 50 countries/regions and dozens of currencies, and supports more than 500 banks and major wallets such as Alipay, WeChat and PayPal.

Panda Remit can meet your multiple remittance needs, including global remittance, large-value remittance, remitting RMB from China and tuition payment.

 

We offer the industry's best exchange rates and lowest fees to ensure the safety of your funds, and have been certified by PCI DSS. With our global presence and regulatory compliance, you can enjoy a convenient service 24/7 during the remittance process.

Visit Panda Remit website/APP to enjoy the new experience of global remittance, more money arriving at faster speed!