Note: This guide applies only to CNY transfers made from your Aspire USD, EUR, GBP, or HKD account.
What types of beneficiaries can I transfer CNY to?
You can send CNY payments to individual and business accounts in China.
Payment Types
Sending to individual accounts: AliPay wallet
Sending to business accounts: Local bank accounts
Name Checks
Name verification is required for CNY transfers.
Is there a limit on the amount I can send?
Individual accounts (AliPay wallet): CNY 50,000 per transfer.
Each recipient can receive between CNY 300,000 - 600,000 per year, and there may be monthly frequency limits depending on the transfer purpose.
Business accounts (Local bank accounts): No transfer limit.
How long does it take for the funds to reach the beneficiary?
Cut-off Times:
Individual accounts (AliPay wallet): 24/7 processing available
Business accounts (Local bank accounts): 08:00 AM UTC
Delivery Estimate: Typically instant to 1 business day after currency conversion is completed
Notes:
Currency conversion can take up to 2 business days from the time your transfer is approved.
No payouts are processed during weekends or China public holidays.
Transfers submitted after the cut-off times will be processed at the next available window.
What will the sender's name be reflected as?
Your business name will be displayed as the sender on the recipient's bank statement.
What information should I include when sending CNY transfers?
Recipient and Transfer Details for individual accounts (AliPay):
Recipient's full name: Up to 256 characters (Pinyin only; Chinese characters are not accepted)
Alipay ID: Email address or phone number linked to the Alipay account
The recipient must complete identity verification or card binding within Alipay when prompted (within 72 hours)
Payment references are not sent to the recipient for Alipay transfers
Transfer purpose (Required)
Recipient and Transfer Details for business accounts (local bank transfer):
Must be a business account
Recipient business name: Up to 59 characters (Pinyin only; Chinese characters are not accepted)
Recipient's registered business address: Up to 69 characters
Transfer purpose (Required)
Reference: No special characters allowed
Traces and Recalls
Trace and recall requests are not supported for CNY transfers. Please verify all recipient details carefully before submitting your transfer.
Bounceback
If your transfer is rejected by the recipient's bank or Alipay, the funds will be returned to your Aspire account within:
Individual accounts (AliPay wallet): 2-3 business days
Business accounts (Local bank accounts): 3-10 business days
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