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China

Type Description
Cash-out Method Direct credit to bank account in Chinese Yuan / Renminbi (CNY).
Supported beneficiary account type – individual.
Transaction Turnaround Time Transfer before 2:00pm, receive notification before 6:00pm. Subjected to Singapore office timing and funds being received.
Area availability Supported Chinese Banks
Validation / Verification
  • Beneficiary name must be in PINYIN (Romanized Chinese).
  • Beneficial bank name
  • Bank code
  • Bank account number
Amount received Beneficiary received net amount as specified by Sender
Transaction Limit Maximum per transaction USD 3,000 equivalent
Minimum per transaction USD 15 equivalent
Maximum Daily Limit USD 6,000 equivalent
Maximum USD50,000 or amount determined by State Administration of Foreign Exchange (SAFE) per China citizen beneficiary per calendar year
Maximum 2 Transactions per day.
Cancellation Process Cancellation is on best effort basis.
Type Description
Cash-out Method Direct credit to bank account in Chinese Yuan / Renminbi (CNY).
Supported beneficiary account type – individual.
Transaction Turnaround Time China Unionpay (CUP) debit or credit card linked to beneficiary bank account
  • Real-time transfer (within 3 minutes) between 7am to 10pm GMT+8

Subjected to Singapore office timing and funds being received
Area availability China nationwide
Validation / Verification
  • Beneficiary account must be a Chinese individual holding a national ID of China mainland only
  • Payment will be credited based on valid China Union Pay Card number (Only UnionPay debit card number starting with 6, 62 or only 955880/955881/955882/955888 issued by ICBC China are supported
Amount received Beneficiary received net amount as specified by Sender
Transaction Limit Maximum per transaction USD 5,000 equivalent
Minimum per transaction USD 30 equivalent
Maximum Daily Limit USD 10,000 per Calendar day
Maximum USD50,000 or amount determined by SAFE* per China citizen beneficiary per calendar year
Cancellation Process Cancellation is on best effort basis.