St George Foreign Exchange Limited

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Transfer Money Out of China

Transfer Money From China:
Cross Border Service

St. George Foreign Exchange 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.

Process:
How It Works

Speak to a specialist at St. George Foreign Exchange to discuss transferring money out of China.

Pre-trading

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

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.

Settlement

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.

FAQ:
Transfer Money From China

Is there a daily limit to transfer money out of 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.

To set up the transfer for moving money out of China, we will require full client details as part of the onboarding process. These include:

  • Full name
  • Address
  • Date of Birth
  • Documentation to support proof of identity / Know Your Customer (KYC) processes
  • Monetary amounts
  • Currencies required
  • Destination account details
St. George Foreign Exchange does not charge any payment fees or account opening fees to transfer money out of China.

Yes, this is a licensed service managed by a Type 9 Asset Management Company in Hong Kong. We will issue legally binding liquidity agreements linking the full transaction from local receiving accounts that collect the Asian currency to the final FX currency and settlement destination. Settlements are through Regulated and Licensed Payment Institutions in Hong Kong, United Kingdom, Singapore, and Australia.

Products:
Manage Risk

St. George Foreign Exchange 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. 

Spot Contract

A Spot Contract from St. George Foreign Exchange allows you to exchange currency at the current market rate for immediate settlement, ensuring quick.

Forward Contract

A Forward Contract from St. George Foreign Exchange secures an exchange rate for a future date, safeguarding your transactions from currency volatility.

Market Order

A Market Order from St. George Foreign Exchange lets you set target exchange rates, automatically executing transactions when the market meets your desired rate.

Rate Alerts

Rate Alerts from St. George Foreign Exchange notify you of favorable currency movements, helping you make informed exchange decisions at optimal times.