Sending USD to China

Ballard

SimonFromNZ said:

Thank you this is helpful! They do offer it but from what I have seen they are a lot more expensive. 
Do you know if it's standard for Chinese companies to ask to be paid in USD? 

USD is the standard currency of business so it’s not surprising that they’d ask for it. Furthermore, Yuan (particularly ‘onshore’) isn’t easily obtained either so it wouldn’t be straightforward to send it.

SimonFromNZ

Apparently with as Transferwise uses SWIFT to send USD to China there could be some unexpected fees. Do you know if suppliers are familiar with this problem? I don;'t want to get in trouble if the supplier doesn't receive the full amount

CKhalvashi

SimonFromNZ said:

Apparently with as Transferwise uses SWIFT to send USD to China there could be some unexpected fees. Do you know if suppliers are familiar with this problem? I don;'t want to get in trouble if the supplier doesn't receive the full amount

If I were you, I'd give Transferwise a quick call to clarify. Phone numbers are on their website for your own security.

I believe I've seen reference to USD transfers through SWIFT being $5, however I don't deal typically in USD (my knowledge with TW is mainly in EU currencies, Ukrainian Hrivna and Georgian Lari), so I can't give a definitive answer.

VXman

I've used Transferwise many times for moving money from Hong Kong to UK. They generally seem to be the most competitive company out there and are reliable. The only other company I've found in a similar bracket it Instarem.