Thinking about how to transfer money from China to Russia? In most cases, transactions are carried out using various payment systems or special banking services. However, not all methods are equally good. What is the best way to transfer money from the Middle Kingdom to your homeland and what difficulties should you be prepared in advance when choosing one or another method? About all this in the article below.
Why transfer from China?
Before answering the question of how to transfer money from China to Russia, you first need to understand why people generally resort to such a procedure. After all, it would be much more logical to carry out a reverse transaction in order to purchase some product from China. However, sometimes situations arise when you want to transfer a transfer from China to Russia. With what it can be connected?
In most cases, a similar need arises for citizens of the Russian Federation who work in the Middle Kingdom and send the accumulated funds to their families to their homeland. Salaries in China are an order of magnitude higher than that of Russian citizens, which is why many residents of the Far East go here to earn more money. This is the most common reason of all.
In addition, the strengthening of relations between China and Russia has led to the fact that many companies began to open their branches in China. In most cases, businessmen make money on confectionery and domestic-made ice cream, which are highly valued in Asia. However, such a business has the need for regular transfers of funds back to their homeland.
Popular Transactional Techniques
There are several popular ways to transfer money from China to Russia. Each of them has its own advantages and disadvantages. Therefore, a person who decides to make a transfer from the Middle Kingdom needs to be very responsible in choosing a particular method. There are four main options:
- use of banking services - to a card or to a foreign account;
- international money transaction systems - MoneyGram, Western Union;
- electronic payment systems - WebMoney, QIWI, "Yandex. Money";
- the use of cryptocurrency as tools for the transfer.
Everyone should understand that a perfect way does not exist. For large transactions, one technique is more suitable; for small transactions, another. In the following sections, you will find more information about this. Pay attention even to the smallest nuances, since the size of the commission may depend on this.
Bank Transfer
Have you thought about how to transfer money from China to your homeland? Then we advise you to consider making a bank transfer. To do this, you need to be poisoned at any branch of the local bank and ask employees for help. However, this technique does not allow you to transfer more than $ 5,000 at a time. In addition, the duration of the transaction can be several weeks, and the commission varies from 1.5 to 2 percent (depending on the policy of the bank).
Who benefits from such operations? To people for whom the time of arrival of funds to their homeland is not strictly fundamental. As a rule, companies and private enterprises use the services of banks and need to transfer several thousand dollars abroad at once. It is best for individuals to use a different translation method, such as e-commerce.
E-wallets
To send money from China to Russia, you can use e-commerce. Modern payment systems (WebMoney, QIWI and others) have a function for quick sending. Of course, a prerequisite for a transaction is the presence of two wallets tied to the system. Limitations on the amount for transfer usually depend on whether the client’s personal data is tied to his account (series and passport number, TIN and so on).
It should be understood that in order to transfer money, you must first put it in an electronic wallet, converting foreign currency into rubles. Of course, you can use the automatic transfer system, but in this case the bank rate can be extremely unprofitable. To avoid unnecessary loss of funds, first convert the RMB to rubles in any bank, and only then transfer. In this case, the commission will be only 0.8 percent.
UnionPay system
Money can be transferred from Russia to China and back using a special system of international transactions, which is called UnionPay. In most cases, the services of the company are used by private and legal entities in need of a small money transfer. However, the system sets a limited restriction on translation:
- no more than 3,000 dollars can be transferred at a time;
- within one day, the transfer amount should not exceed $ 5000;
- per year, the client has the right to send no more than 50,000 dollars;
- the fee is 0.9 percent of the amount transferred.
However, it should be understood that the minimum threshold for transfer is $ 20. Otherwise, a fixed interest rate of $ 1.5 will be charged. At the moment, UnionPay is one of the best options for a money transfer from China to Russia. The easiest and fastest way to transfer.
Cryptocurrency
Not all payment systems in China have attractive conditions that awaken the client's desire to use their services. That is why some people are looking for more and more new ways for transactions, using the latest developments. One of the methods involves contributions to cryptocurrency. The client simply purchases a certain amount of bitcoins or satoshi for a certain amount, after which he transfers the money abroad, almost bypassing various commissions.
However, people who decide to try this method should understand that the bitcoin rate can rise and fall almost every day. Just imagine: today you purchased two bitcoins for 10 thousand dollars, and by tomorrow its value has decreased by 10%. As long as your family at home decides to cash out, it will lose a whole thousand dollars. Although in fairness it is worth noting that a similar scheme works in the opposite direction.
Alipay
You can transfer money to a card from China to Russia using the international transfer system, which is called Alipay. The company appeared on the market relatively recently, but has already managed to gain the trust of many customers. The thing is that the main orientation of Alipay is the foreign market of China, so it provides its customers with the most convenient translation options.
As a rule, the transaction size is limited to $ 3,000, although under certain conditions, such a restriction can be removed. The commission for the operation is quite small - 1.2 percent, but only if the transfer amount is at least $ 15. Otherwise, a fee of $ 1.5 is charged. All transactions are carried out almost instantly, and you can withdraw money from the card at almost any ATM.
How to transfer to a Sberbank card?
Payment systems in China offer their customers the opportunity to conduct transactions online, for which you will need to enter all the necessary data yourself. The commission for such a transfer depends on the policy of the bank, but it rarely exceeds 1.5 percent. The money will arrive at the recipient's account approximately 3 days after the transaction. However, anyone should understand that if he incorrectly indicates the details, it will be quite difficult to return the funds.
More than 50% of citizens of the Russian Federation have a Sberbank card in their hands. To transfer their relatives to their homeland, it will be enough to use any payment system that has the ability for interstate transactions. In this case, the system will automatically convert the earned yuan into rubles, based on the exchange rate of the central bank, after which the funds will be credited to the account of a Russian citizen within 3 days (maybe faster).
Western Union
Western Union is one of the oldest and most respected companies engaged in overseas money transfers. As in the Russian Federation, in China, a similar method for transfer is one of the most affordable. However, the undoubted disadvantage of the method is that the account holder will have to submit a huge number of various documents confirming his identity and the legality of his stay in the Celestial Empire. In addition, the company may also require a certificate of employment and other personal information.
In addition to a fixed payment for the transaction, which can reach $ 50, Western Union also charges a fee of 1% of the transfer amount from its customers. That is why sending a small amount in this way will be extremely impractical. But the company is considered simply irreplaceable if you need to send several thousand dollars from China to Russia at once. The maximum amount is limited to 10 thousand dollars a day.
Contact
Transferring money from China to Russia through bank accounts is not the most prudent decision. It will be much more profitable to use the services of companies engaged in international transfers. Contact is just such a company that has existed on the market for quite some time. Funds can be transferred to any bank card or private account. The size of the commission is slightly smaller than in Western Union, but the company limits the transfer amount to $ 5,000.
How to send money in this way? It will be enough to find a company branch in the Chinese city where you are located, and then ask employees for help. Virtually no documents are required. The exact amount of the commission depends on the policy of the bank to whose account the funds will be sent. However, in most cases, it is 0.9 percent (plus a flat rate for using the company's services).
"Gold Crown"
Still can't decide how to transfer money from China to Russia? How about taking advantage of the Zolotaya Korona money transfer system? The company has a huge number of branches in China, so the transaction will turn out without any problems. However, do not be fooled by the fact that you can see on the company's advertising banners that the commission is 0.7 percent. The cost of the service is calculated differently. First, funds are transferred from yuan to dollars, and then from dollars to rubles. Of course, the translation rate is set by the company itself, which is several percent lower than that of the Central Bank. Therefore, be especially wary of such a transfer.
Video and conclusion
We hope that now you better understand how to transfer money from China to Russia. If you still have any questions on this topic, we recommend that you watch a short video, the author of which talks about the most promising methods for transferring money from China to your homeland.
As you can see, in order to transfer money from China to Russia, it is not at all necessary to use some cunning methods. The cooperation of the two states allows ordinary citizens to make money transfers without special difficulties at the moment. The use of various services from banks has long faded into the background. The most promising option for transfer is the use of systems for foreign transfers, which were described in our article. We hope the information provided was useful to you!