How to transfer money out of China via Western Union?

Understanding China’s Foreign Exchange Requirements

It is recommended to remember that currency transactions are controlled by local legislation in China. Thus, a resident of China is required to provide his/her identification, the details of the transaction, and the reason for its execution.

The sum that can be exchanged or transferred might be influenced by the individual's status and rules of foreign exchange control. The frequently mentioned limit in individual foreign exchange operations is USD 50,000 per year; however, it should not be considered an unlimited allowance for international transactions.

In the case when the transaction requires a large sum of money, additional documents confirming the source of the money or the reason for which the funds are needed might be required. For example, the reasons could be payment for personal expenditures or education, income and employment, supporting the family, etc.

Foreign citizens residing in China should pay attention to the requirements that apply to their situation. Having a Chinese bank account is not a guarantee that all international transfers will be executed.

Western Union Transfer Availability in China

For Western Union money transfers in China, they may be provided via specific partner banks rather than all banks or all branches. As such, the availability of the service may depend on location, type of transfer, currency used, and existing relations between Western Union and its local partners.

If using the Western Union money transfer service at a bank, one will have to go to the international remittance section of the bank's online banking website or visit one of the suitable branches. The functionality may differ among banks, and users have to make sure that Western Union money transfers are currently available via their banking channel.

The country to which one is going to transfer the money is also important since, while Western Union has an extensive network of services all around the world, not all types of money transfers are available in all countries.

The transfer time may also be different for various transactions. While some of them may be available right after making the transaction, some may take more time because of verification procedures, banking hours, etc.

What to Check Before Sending Money

Proper planning can help simplify the international transfer process from China. The sender should first verify the recipient's details such as their full name and the destination of the transfer. Even a slight mismatch of the transfer details and the identity documents of the recipient can cause complications when trying to withdraw the money.

The sender should also evaluate the overall costs of the transfer. The amount received after the transfer will be influenced by the fees charged on the transfer as well as the rate that was used for the transaction. The comparison of the actual amount that the recipient will receive may be more revealing than just the advertised transfer fee.

In addition, the sender needs to know what additional verification procedures are needed. Some transfers may require additional time, as the banks will have to conduct all the necessary checks.

The sender should keep the receipt of the transaction and MTCN number until the transfer is completed. The MTCN should only be provided to the intended recipient and should not be disclosed to strangers or posted online.

Receiving Money Through Western Union

After completion of the transfer, it is possible for the recipient to get the money through a Western Union office, which supports the transaction, or through any other delivery method that is provided by Western Union. However, the exact procedure of receiving the money will depend on the country where the recipient lives and on the delivery service that is used by the sender.

To pick up cash using Western Union, the recipient will require the MTCN number and proper identification of the recipient. The name on the document must correspond to the name provided by the sender.

The recipient needs to be careful about disclosing the details of the transfer to unauthorized persons. The MTCN number is one of the important elements of the transaction and should not be given to anyone apart from the recipient.

However, delays in transactions may occur due to several reasons, including compliance checks, wrong data about the recipient, banking problems, public holidays, and regulations.

Plan the transaction in advance when the transferred money is intended for tuition fees, travel expenses, family support, or business payments.