How to Transfer Money from India to China?

Money transfers from India to China are made as US Dollars. The receiving bank in China will convert the amount to Chinese Yuan. The whole process can take up to 3 days. Here are the steps to follow.

• 1. Enter the amount in USD you need to transfer, the purpose of remittance and click on 'get rates'.
• 2. Compare the exchange rates from nearest authorized exchange houses and choose any.
• 3. You can now share the required KYC documents for verification. Once verified, transfer the amount to the chosen exchange house via NEFT/RTGS.
• 4. Wire transfer will be initiated as soon as the amount is credited. The money should be credited in the beneficiary account within 3 working days.

1) Main Purposes of Sending Money from India to China

• University Tuition fee payments

• Living Expenses of students from India

• Remittance by tour operators to agents/hotels in China

• Consular Fees

• Fee for participation in conferences or training

2) Documents Required for Wire Transfer from India to China

Any of these documents can be required depending on the purpose of remittance.

• Govt issued photo ID proof of the sender (Passport/Voter’s ID/Aadhar Card)
• PAN card copy of the sender
• Filled A2 Form cum declaration with signed by the sender
• Purpose proof (University letter/Prospectus) stating the amount to be transferred and account details (for tuition fee payments only)
• Beneficiary passport copy (for maintenance of close relative & gift remittance only)

3) Beneficiary details to be shared:

• Beneficiary Bank Name & Address
• Beneficiary Name & Address (as given in bank)
• SWIFT Code
• Beneficiary Account Number

Notes:

• All foreign currency transactions are subject to Service Tax.
• Foreign Exchange and Money Transfer services are available though Tied-up Reserve Bank of India approved Authorized Dealers only. All foreign exchange transactions are subjected to AML/CFT/KYC & FEMA policies instructed by Reserve Bank of India.