The best way to transfer money from Vietnam to Mainland China

Choosing the right method to transfer money from Vietnam to Mainland China helps ensure your payments are fast, affordable, and compliant. 9Remit stands out as a modern, reliable and regulated cross-border payment solution, ideal for businesses that need seamless international money transfers.

1. Overview of financial trade between Vietnam and Mainland China

Vietnam and Mainland China maintain one of the strongest bilateral trade partnerships in Asia. China is Vietnam’s largest import market and a major export destination for agriculture, electronics, and manufacturing goods. This trade reality drives large and regular financial flows from Vietnam to China, with two-way trade turnover reaching more than 205 billion USD by 2024. 

The key payment drivers are

• Business-to-Business (B2B) Payments: Vietnamese importers need to pay Chinese suppliers for goods ranging from electronics components to textiles and machinery. These transactions often involve substantial amounts and require reliable, cost-effective transfer methods.
• Cross-border E-commerce: Vietnamese consumers and small business owners regularly transfer money to pay for products ordered online.
• Educational Expenses: With thousands of Vietnamese students pursuing degrees in Chinese universities, regular tuition payments and living expense transfers have become increasingly common.
• Family Remittances: The Vietnamese diaspora in China and Chinese nationals working in Vietnam frequently send money to support family members back home.
• Investment and Real Estate: Growing investment opportunities in both countries have led to increased capital transfers for property purchases and business investments.

Crucially, Vietnam maintains strict foreign exchange controls managed by the State Bank of Vietnam (SBV). Any international money transfer out of the country requires meticulous documentation to prove the legitimate purpose of the payment, making the process complex and demanding.

2. How to send money from Vietnam to Mainland China

When looking for the best way to transfer money online from Vietnam to Mainland China, businesses and individuals have several options, each with distinct advantages and drawbacks: 

2.1. Traditional bank wire (SWIFT)

Process: You visit your Vietnamese bank branch, fill out international transfer forms, provide recipient details and their Chinese bank account information, and the bank processes the transfer through the SWIFT network.

Pros: Generally perceived as highly secure and reliable for large sums; globally accepted.

Cons: Slow (typically 3–7 business days), expensive (high fixed fees and poor exchange rates), and demands extensive physical documentation for SBV compliance.

2.2. Online money transfer platforms (Wise, PayPal)

Process: Digital platforms allow users to initiate transfers online via apps or websites.

Pros: Transparent fees and fast processing in many corridors.

Cons: Limited support for transfers out of Vietnam. Due to Vietnam's capital controls, many popular global platforms have restrictions, high limits, or lack the necessary local licensing to handle large-scale, compliant B2B transfers from a VND source account.

2.3. Money transfer services (Western Union, MoneyGram)

Process: Sending funds through an agent for cash pickup or bank deposit.

Pros: Fast for personal, urgent transfers.

Cons: Not suitable for B2B transactions (invoice settlement, supplier payments) due to high fees, low limits, and a lack of required documentation trails for corporate accounting and tax purposes.

2.4. Licensed international payment service providers (PSPs)

Process: Utilizing licensed fintech providers specializing in specific corridors, offering a dedicated, fast, and compliant digital solution.

Pros: Optimal balance between speed, cost, and compliance; designed to handle the complex B2B documentation required by the SBV.

3. 9Remit: Your expert money transfer service provider from Vietnam to China

9Remit is a cross-border payment solution that supports seamless money transfers between Vietnam and Mainland China. Founded by a team of financial technology experts from 9Pay - a payment intermediary licensed by the State Bank of Vietnam. 9Remit bridges the gap between the limitations of traditional banking and the needs of modern money transfers.

9Remit supports the processing of hundreds of thousands of transactions every day, with a total value of up to billions of dollars per year. Whether you are paying a Chinese supplier to produce goods, sending school fees or supporting your family, 9Remit provides a safe, fast and cost-effective solution.

4. Instructions for registering for 9Remit's international money transfer service

Initial contact: Contact the 9Remit corporate team to discuss your specific payment needs (volume, frequency, purpose - e.g., supplier payments).

Corporate KYC & vetting: Your business undergoes a mandatory Know Your Customer (KYC) process, providing core company documents (Business Registration, Tax Codes).

Transfer request & documentation: For each transaction, you submit the official documentation proving the transfer's legitimacy (e.g., commercial invoice, import declaration, signed contract).

Verification & execution: 9Remit's compliance team vets the documents. Once approved, the funds are converted at the prevailing VND to CNY exchange rate and transferred to the designated Chinese corporate account.

5. Frequently Asked Questions (FAQs)

5.1. How much money can I send from Vietnam to China?

9Remit, focusing on B2B solutions, is structured to handle large-volume corporate transfers (no transaction amount limit). Businesses can flexibly set payment amounts according to their needs, while still complying with South Korea and Vietnamese regulations.

Businesses should consult directly with the 9Remit business team to discuss their specific international money transfer needs.

Contact us now!

• Website: 9Pay.vn

• Hotline: 1900 88 68 32 (Support 24/7)

• Email: business@9pay.vn

5.2. How long does it take to send money to China?

With 9Remit, transfers to China can typically be completed on the same day (T+0), much faster than the 2–5 business days required by traditional bank transfers.

Note: Customers need to provide complete legal documents related to the money transfer. The time to complete the transaction depends largely on the speed at which customers provide all necessary legal and tax documents.

5.3. Is it safe to send money from Vietnam to China?

Yes, it is highly safe when using licensed providers like 9Remit. Safety is guaranteed by the regulatory oversight of the SBV and the strict security protocols (encryption, AML/KYC) employed by the PSP. 

9Remit platform uses high-end international security standards such as PCI DSS Level 1 and advanced encryption to protect your financial and personal data.

5.4. What’s the current exchange rate from VND to CNY?

The VND to CNY exchange rate fluctuates hourly. Licensed PSPs like 9Remit offer corporate rates that are typically more competitive and transparent than those offered by traditional banks. You will receive the precise rate at the time of final transaction confirmation.

5.5. Difference between onshore and offshore chinese currencies

When sending money, you are dealing with two types of Chinese Yuan:

CNY (Onshore Yuan): Used for most personal and business transactions in China, tightly regulated by the People's Bank of China (PBOC).

CNH (Offshore Yuan): Traded outside the Mainland (primarily Hong Kong), with fewer restrictions. When dealing directly with Mainland accounts, the rate will be the CNY rate.

5.6. How can my recipient receive money in China?

9Remit offers the following payment methods to transfer money from Vietnam to China: 

• Transfer to international bank account
• International e-wallet
• Debit/Credit card.