How to Send Money from Singapore to China with ChangCheng Remittance and Why Panda Remit Could Be a Better Option

Living in Singapore and need to send money back to China regularly? You might have a local bank account, but are you concerned about the high fees often associated with international transfers? If you're seeking a more affordable and convenient solution, ChangCheng Remittance is a trusted option. With over 20 years of experience in the industry, ChangCheng Remittance offers both online and in-store services, making it easy to send money to China. However, if you want even better exchange rates, lower fees, and more flexibility, Panda Remit may be the ideal choice for you. Here’s an overview of how to use ChangCheng Remittance, along with why Panda Remit could be a more convenient option for your remittance needs.

### What is ChangCheng Remittance?

ChangCheng Remittance, founded in 1999, is a well-established remittance company in Singapore, licensed by the Monetary Authority of Singapore. It provides international remittance services for both individuals and businesses. ChangCheng offers a variety of payment options, including cash, cheques, and bank transfers. With a physical store located in the heart of Chinatown (People's Park Complex), ChangCheng is convenient for those who prefer in-person transactions. Their service hours are from 9 AM to 9 PM, Monday to Sunday.

### Countries and Regions Supported by ChangCheng Remittance

ChangCheng specializes in remittances within the Asian region, supporting currencies like RMB (Chinese Yuan), MYR (Malaysian Ringgit), HKD (Hong Kong Dollar), KRW (Korean Won), THB (Thai Baht), and more. They provide services to over 10 countries, including China, Malaysia, Vietnam, Indonesia, India, the Philippines, and other Asian nations.

### How to Use ChangCheng Remittance

ChangCheng offers both online and in-person remittance options. For online transfers, the limit is SGD 50,000, and the only payment method available is bank transfer. For large remittances, customers must visit the physical branch in Chinatown, bringing identification, proof of address, and proof of funds.

Here’s a step-by-step guide on how to use ChangCheng Remittance online or via their app:

1. **Register**: New customers need to sign up for an online account, providing personal information and completing identity verification.
2. **Add Recipient**: After registration, log in to the platform and add the recipient’s details, including their name and bank account information.
3. **Set Transfer Details**: Select the amount to send, and fill in details about the sender and source of funds.
4. **Make the Transfer**: Once you confirm the transfer details, send the payment to ChangCheng’s bank account and upload the transfer receipt.
5. **Track the Transfer**: Once the transfer is processed, you’ll receive an SMS notification when the money reaches the recipient.

For remittances to China, ChangCheng supports transfers to Alipay accounts. To send RMB to China, simply provide the recipient’s name and Alipay account number, ensuring they have "Fast Collection" activated on their Alipay account.

### Exchange Rates and Fees at ChangCheng Remittance

ChangCheng provides daily reference exchange rates for popular currencies on their website. Interestingly, their exchange rate for SGD to RMB tends to be more competitive than the market rate, offering better value for your money. However, it’s important to note that the rates are for reference purposes, and you can always contact their staff for real-time, accurate rates.

ChangCheng charges a fixed fee of SGD 18 for each RMB transfer. This fee is relatively reasonable compared to other services, but it’s still important to compare rates and fees to ensure you’re getting the best deal.

### How Long Does It Take for the Money to Arrive?

The transfer speed depends on the recipient’s bank and currency. Bank wire transfers typically take 1-5 business days. However, if you're sending money to Alipay, transfers are typically faster, especially if the recipient has “Fast Collection” enabled, allowing them to receive funds on the same day.

### Is ChangCheng Remittance Safe?

ChangCheng has implemented several security measures to ensure the safety of its customers’ funds. New customers must undergo identity verification, and remittances over SGD 20,000 require proof of the source of funds. ChangCheng has also received awards from the Singapore Police Force for its efforts to combat fraud. The company provides safety tips and warnings about potential scams on its website to protect customers.

### Why Consider Panda Remit?

While ChangCheng Remittance is a reputable option for sending money from Singapore to China, it may not always be the most convenient or affordable choice, especially for those seeking a fully digital solution. Panda Remit offers a more modern and user-friendly experience, with no need to visit a physical branch.