Transfer Money From China:
Cross Border Service
NewbridgeFX provides an established cross border RMB/CNY service allowing clients to transfer money out of mainland China in a reliable, safe and secure manner. We have partnered with a local licensed and regulated Foreign Exchange provider in order to legally convert RMB in to various global currencies, and settle the funds in to your beneficiary account around the world.
How It Works
Speak to a specialist at NewbridgeFX to discuss transferring money out of China.
Onboarding – Clients are required to provide Know Your Customer details (KYC) and sign a Client Service Agreement (CSA) which contains the process and transactional information. Our standard KYC pack can be shared on request.
Trading groups will be established between all parties. The amount, currencies and destination account to be confirmed by the client. On the morning of the agreed trading day, the foreign exchange rate is provided and agreed. The client transfers RMB/CNY to our receiving accounts before 11am. The client provides transfer receipts which are acknowledged by the trading team.
On receipt of funds, settlement is then initiated to the clients account according to the agreed channel. The client will have their funds available in USD on the same day. This can be settled locally or globally (in USD or other currencies) immediately thereafter, typically the same day. All aspects of this process are agreed in our CSA.
Transfer Money From China
There is a minimum limit of USD 100,000, although this is negotiable. The maximum limit for Business is RMB 60m and for Personal is RMB 5m.
Full client details as part of the onboarding process including name, address, date of birth along with documentation to support this. We also require the amount, currencies and destination account to complete the transaction.
AnswerNewbridgeFX does not charge any fees to transfer money out of China.
AnswerYes, this is a licensed service managed by a Type 9 Asset Management Company in Hong Kong. We will issue legally binding liquidity agreements linking the full transaction from local receiving accounts that collect the Asian currency to the final FX currency and settlement destination. Settlements are through Regulated and Licensed Payment Institutions in Hong Kong, United Kingdom, Singapore, and Australia.
NewbridgeFX offers a specialist service in the deliverable foreign exchange market, promoting a range of products and services, available online or over the phone. Our products have been designed to meet the needs of our clients. A lot of these products are ways for businesses, and individuals, to manage and mitigate currency risk, and are used frequently during times of increased volatility. Alongside up to date foreign exchange related market news, which works in tandem with our range of products.