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CHINA

Send Money from India to China with BookMyForex

As China continues to grow as a significant player in global trade and business, there’s a steady need for individuals and businesses to transfer money there. Whether you're transferring funds for educational or medical expenses, investments, or any other reasons, BookMyForex offers an efficient and cost-effective way to send funds from India to China. We offer competitive exchange rates, zero transfer fees, and a seamless online booking option to ensure your funds reaches its destination safely and swiftly.

Exclusive Tie-Ups With Leading Banks for International Money Transfer 

BookMyForex’s collaborations with top banks like Yes Bank and RBL Bank, along with other trusted money transfer service providers, ensure your money transfers are handled swiftly and securely. These partnerships help us provide an overall smooth transfer process.

Ways of Sending Money to China from India:

You have primarily two ways to transfer funds abroad:

1: Wire Transfers 

2: Demand Drafts 

What is a Wire Transfer?

Wire transfer is considered to be the best method for transferring funds overseas. It is also the fastest method of sending money abroad. With BookMyForex's online remittance process, you can complete wire transfers to China from the comfort of your own home. Moreover, the rates offered by BookMyForex for international money transfers are far better than those offered by most banks for wire transfers.

What is a Foreign Currency Demand Draft?

A demand draft is a physical paper draft issued in a specific foreign currency. It is another convenient method of sending funds abroad. However, it is vital to note that transferring money to China through demand drafts is much more time-consuming. Comparatively, wire transfers take only 12 to 48 hours.

How to Transfer Money from India to China with BookMyForex? 

Transferring funds to China is simple with BookMyForex. Here’s how you can do it:

1. Set Up Your Transfer: Enter the amount and select your currency to check rates and fees instantly

2. Upload Documents: Upload the necessary documents based on the purpose of your transfer 

3. Add Recipient Details: Share the beneficiary’s bank account details

4. Make Payment: Pay via UPI, net banking, or other methods. Your transfer will be processed after a quick verification

*Educational remittances are processed within 6 hours; all other remittances are processed within 12-48 hours.

Why is BookMyForex the Best Platform for International Money Transfers?

BookMyForex is your trusted partner for hassle-free money transfers abroad. Here’s why our platform is considered one of the best:

1. No Bank Visits Required: Avoid the hassle of visiting banks and place your order online. BookMyForex takes care of the entire remittance process, ensuring a smooth transfer experience.

2. Significant Savings: Transfer funds via BookMyForex and save up to 5% compared to traditional banks and other money transfer platforms. 

3. Easy & Straightforward Transfers: The process is designed to be user-friendly. Simply input your details and upload the necessary documents on our website or app.

4. Affordable Option: We offer some of the most competitive rates and zero transfer charges (when using promo codes), making BookMyForex a cost-effective choice.

5. Fast Transfers: Enjoy quick and prompt money transfers, typically completed within 12-48 working hours, to over 150 countries.

6. Top-Notch Customer Service: Our support team is available via call and email to assist with any queries and ensure your satisfaction.

7. Secure Transfers: We prioritize your security, hence we process foreign remittances only through trusted banks in India.

Factors to Consider When Sending Money from India to China

1. Exchange Rate: The exchange rate impacts how much funds the recipient will receive. Compare rates to get the best possible deal.

2. Transfer Fees: Different providers have different fee structures. Understanding these fees helps avoid unexpected costs. 

3. Transfer Speed: The time it takes for funds to reach the recipient can vary. Choose a service that aligns with your needs.

4. Service Provider: Opt for a reputable and trustworthy money transfer provider with transparent rates and fees.

5. Regulatory Compliance: Ensure the transfer adheres to regulatory requirements, including documentation and limits.

6. Security: Use providers with robust security measures to protect your funds and personal information.

7. Tax Collected at Source (TCS): For international transfers, a TCS of 5% applies for education and medical purposes, and 20% for other purposes if the amount exceeds INR 7 lakh in a financial year under the Liberalized Remittance Scheme (LRS). No TCS applies if the total remittance in a financial year is below INR 7 lakh.