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 into various global currencies and settle the funds in to your beneficiary account around the world.
That means, whether you are looking to transfer money out of China to a UK bank account, US account, or other currency, you can do so using our secure service.
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 will then be confirmed by the client. On the morning of the agreed trading day, the foreign exchange rate is provided and agreed meaning you can be sure you’re getting the current exchange rate for transferring money out of China into whichever currency you require. 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 client’s 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 25,000, although this is negotiable. The maximum limit for Business is RMB 60m and for Personal is RMB 5m.
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 when sending money overseas, and are ways for businesses, and individuals, to manage and mitigate currency risk.