With a Good Exchange Rate and 0 Remittance Fee, Time to Send Money Back to China Now
CNY exchange turns good, it is time to send money back to China. But before remittance, Let’s dig out several important factors involved in international money transfer, such as exchange rate, handling fee, timeliness, and security, which will directly determine your remittance experience.
1. The exchange rate
Exchange rates are the rate at which you can exchange one currency for another. It seems obvious that this figure should be the main thing you look at when making an international bank transfer. Some transfer providers offer lower fees but weaker exchange rates. so compare as many as possible to find the best deal.
Let’s take a look at the exchange rate of the following 5 mainstream currencies against the CNY today~
US dollar (USD/CNY): Going strengthen
The US dollar continued to strengthen while the RMB continued to depreciate. The US dollar has been rising continuously since April. After returning to 6.8 recently, it has been stable at around 6.77.
With rumors that the U.S. dollar will continue to raise interest rates, it is expected that the RMB will continue to depreciate for a period of time in the future; since foreign exchange rates involve all aspects of finance, it is not possible to explain the reasons and results in one sentence. But what is clear is that if you have a foreign exchange on hand and you need to settle RMB in small amounts, it’s the best time.
Euro (EUR/CNY): Stable at 7
The exchange rate of the euro against the RMB has risen slightly since it rebounded to 7.1 last week, and stabilized at around 7.
Japanese Yen (JPY/CNY): Downward and upward
The exchange rate of the yen showed a downward trend some time ago, It was once rushed to the trending topic because it fell below 5, but then it showed a slow upward trend.
Pounds(GBP/CNY): Back at 8.35
Since the pound fell sharply, it has remained at a low level, after returning to 8.4, it remained at 8.35. It is predicted that the exchange rate of the pound may fall to the level at the beginning of the new crown epidemic.
Hong Kong dollar (HKD/CNY): Keep rising
The day when the JPY plummeted was the day when the Hong Kong dollar rose sharply. the exchange rate has climbed all the way, reaching the highest in 2022 at 0.86.
No matter how you transfer money, you will be charged a fee, except there are remittance discounts. This is the second factor that affects how much you receive, Of course, the lower the fee, the better.
Timeliness is the arrival time. Sending money by traditional methods usually takes 3–7 working days. In this age, our attitude towards speed is, I can’t wait more than 1 minute. If you want to exchange foreign currency for RMB within a few seconds, try our 1s-arrival service.
Security is the key to determining whether it is a successful remittance. There is various payment institution on the market, and only those with qualifications are reliable. Since we have been engaged in payment since 2014 and obtained licenses in Hong Kong, the United States, and Europe, you can always trust Epay.
Based on the 4 factors above, Epay is the first choice for sending money to China. Whether you need to remit money to your family in China, settle your income from overseas, exchange Perfect Money, Payeer, Fasapay, Advacash to Chinese yen, or as a merchant, you need to send money to multiple domestic recipients at the same time, Epay can provide you with suitable services.
We support the transfer of USD, EUR, JPY, GBP, and HKD to China's domestic bank accounts and Alipay, covering more than 2,000 domestic banks. Whether you receive money from a bank or Alipay, you can experience the happiness of receiving money in 1 second.
Our activity of sending money to Alipay for free has been going on for a while, and every participant said that it is awesome and unbelievable! Let’s see what they say.
The remittance speed can always be fast, but the exchange rate will not always be so good, and the 0 fees remittance activity is not always there. Immediately enter the activity page to remit together.