Solution to transfer Money from Europe in China Mainland / Legal business

[EricVN]

Hi everybody,

I have to transfer some money from France (€ account) to China Mainland (RMB)

Amount approx 20,000€ all week

it's a personal account in China.

I have try with transferwise but it's not possible (only Alipay with max.31,000CNY)

DO you have another solution except classic banking?

 

[Milky Moon]

You can try akcenta.cz/.com (I take it⁠ you can proof source of funds, however now with Covid19, everybody is buying Medicak Equipment⁤ in China).

 

[EricVN]

That's it! i buy medical device in China! but struggling with sending money in Mainland!!‌ that's crazy

i will try thanks

 

[EricVN]

Check quickly!!

Difficult to have confidence with this company and Website..

 

[DGTLOTC]

You just need to use a FX company for this, you’ll get superior rates and‌ a fast service compared to banks

<<snipped>>

 

[clemens]

Use crypto as a way to transfer payments from Europe to China and also the‌ other way around. It is what crypto is used for. So you can use EMI's‍ like trasnferwise to exchange the crypto or kraken.com

 

[EricVN]

@clemens not really easy!! I have a kraken account but are you sûre i Can‌ sEnd Money from my kraken account to a chinese personal account in RMB??

@EUR99 i will check this solution. Do you know a good one?

 

[EricVN]

Check quickly some FX companies
Not possible EUR to CNY

 

[DGTLOTC]

You could either convert EUR/USD wire that over and convert locally there are loads of‌ FX brokers around that will do this

 

[Milky Moon]

You will need two things if you wanna‍ buy PPE in China now:
1) good contacts that do not ripp you off too⁠ much (and maybe some boots on the ground)
2) good and speedy payment system, that⁤ has CNY ready for you. (Via an IPA)

Goodluck!

 

[EricVN]

Thanks Milky
I do have the contact
I normally used A classic Bank account but‌ i turn off my International business account with token this year as i didn't moove‍ Money to Mainland normally...

 

[DGTLOTC]

When you say not normally,what do you mean by that ?

 

[Sadhu]

Give these guys a try? IBS - International Business Settlement

 

[blockchain4ever]

Remember that the strict currency control in⁠ China, and everbody in China trying to get money out, means that you should have⁤ no problems getting a good exchange rate. Indeed, for USDT, there's a premium paid in⁣ the OTC market. If you exchange into USDT and transfer that to your contact, you⁢ don't pay much in fees and they can exchange at a premium.

 

[Billneon]

Are you still looking for the solution⁠ ? If so, please reply to my post.

 

[justsomeguy]

Their fees are quite pricey. I'm in a similar situation. Do we have any other‍ options?

 

[Billneon]

Yes but i do have some options. But let‍ me clarify first; are you looking to do the transaction every week 20,000 Euro ?⁠