Original link: https://www.blueskyxn.com/202208/6318.html

foreword

In last year’s WISE: Regular overseas funds remittance with high speed and stability , I introduced the reference operation of WISE remittance to Alipay. However, due to the recent WISE remittance to Alipay, a large number of users have been required to declare, and the declaration materials are difficult.

Of course, other platforms may not have to declare it, especially when AlipayHK group friends say that it is fine. Of course, this may also be related to the amount. At the same time, the amount may be related to each person’s personal situation and cannot be comprehensively assessed, but it can only be said that it is very easy. If you want to declare, it may be nothing for a small number of thousands or hundreds, and a problem for a large number of thousands or tens of thousands), and at the same time, it is necessary to submit more difficult supporting materials (the source of income must be provided, and wages are generally required, and what kind of “wage income” is generally required. “Bank Statement” or “Proof of Wage Income” or “Labor Contract” or “Other Employment Proof Materials”. If it is a relative, additional proof of relative relationship, such as a household registration book, is required.)

Therefore, at this time, you can consider remittance to China UnionPay card. Of course, you must pay attention to the foreign exchange quota that is occupied. Each person has a convenient quota of US$50,000 for foreign exchange settlement and purchase per year. If you need unlimited foreign exchange settlement, you can open a self-employed account in Yiwu, and you can indeed unlimited foreign exchange settlement (but note that according to the practice of group friends, at present this can only open an account with Agricultural Bank of China and no external RMB account, and can only receive foreign currency wire transfers)

At present, all remittances through UnionPay are very stable, and a single transaction under 5000USD is exempt from declaration by default. However, although UnionPay is fast and stable, it always receives a foreign exchange facility limit of 50,000 US dollars per person per year, while Alipay WeChat has an additional independent limit of 500,000 yuan per person per year (currently not sure why they are all 500,000 yuan). , is not shared)

Basic knowledge

Compared with Alipay and WeChat’s signing and declaration process, UnionPay remittance can be said to be faster and simpler. Of course, you can also use SWIFT international wire transfer to transfer money directly to your account (usually the same as the UnionPay card number), or you can use VISA/Mastercard card organization to transfer money to VM debit/credit card, but these two need to be settled manually and are not supported RMB is automatically settled, and only foreign currency can be remitted.

For UnionPay remittances made through platforms such as WISE, the RMB will be automatically settled.

In addition, those who occupy the foreign exchange settlement quota are only

SWIFT/card organization remittance/personal transfer/relative transfer, etc., and manual foreign exchange settlement and sale at branch counters/mobile banking/online banking/phone banking
UnionPay cross-border remittance automatic settlement
Settlement and sale of foreign currency banknotes at counters of outlets

These situations consume the foreign exchange settlement amount

In other cases, the foreign exchange settlement quota is generally not consumed. Typical cases of behaviors that do not consume the foreign exchange settlement quota include:

Use overseas cards to spend in mainland China (including but not limited to Alipay, WeChat, UnionPay, POS, Meituan Pay, Didi Taxi)
Use overseas cards to withdraw cash from ATMs in mainland China (including but not limited to UnionPay International, VISA, MasterCard)
Purchase of foreign exchange (the foreign exchange purchase and settlement quotas are independent of each other)
Use mainland cards to spend on overseas platforms such as PayPal (including but not limited to PayPal, Skrill, Stripe, AlipayHK)
Use mainland cards for physical card consumption and ATM cash withdrawals overseas
Remit funds to or from Hong Kong, Macau and Taiwan regions
Use an overseas UnionPay international card to repay a credit card in Mainland China using ApplePay

So sometimes seeing some cerebral palsy remarks is really unbearable (but considering that some people in Hong Kong Tencent Cloud want to file and other confusing speeches, it is not surprising, everyone has)

Remittance preparation

“Cross-border remittance remittance” will be displayed at the bank. The transaction location TransferWiseLTD London GBR does not display the counterparty account or shows that the counterparty is UnionPay

Payee needs to provide

The pinyin of your name, such as MA HUATENG, is the same as that printed on your debit card
The UnionPay debit card number, starting with 62, requires an ID card to open an account with a bank in mainland China
Since WISE requires the payee address to be provided when remittance from USD, you can use other currencies for remittance (the general currency conversion cost is about 0.35%~0.5%) or provide the account holder’s address retained by the bank (both Chinese and English, you need to provide the city name such as Xiamen Or XIAMEN, zip code such as 350200, address such as No. 61 Hubin North Road, Siming District) [The address can also be filled in with the address of the bank where the account is opened.

Remark

This method will automatically settle foreign exchange, occupying the foreign exchange settlement quota of 50,000 US dollars per person per year, but less than 5,000 USD will not be required to declare transaction information (in fact, a single transaction can be up to 31,000 CNY, not even 5,000 USD).
The five banks of China Merchants, Minsheng, Industrial, Shanghai Pudong Development, and Nanjing do not support overseas remittance. Local agricultural merchants and official websites may not support foreign exchange rates that cannot be found.
It is recommended to use Bank of China, China Construction Bank, Industrial and Commercial Bank of China, and Agricultural Bank of China
In principle, it needs to be a first-class debit card. If there is a collection limit, please pay attention to the single amount. It is definitely not possible for a non-first-class card without face verification, and it is not clear for credit cards.
Generally arrive within 1 hour, no more than 1 working day
The delivery method will automatically settle the foreign exchange into CNY, and there is no need to manually settle the foreign exchange. Generally, there is no need to manually activate the foreign exchange settlement function.

Of course, this is B2C or C2C. I have tested B2C and there is no problem, no need to declare.

If it is B2B, the limit is much larger, but it should be noted that commercial households can only use RMB as the currency, and foreign currency households are not supported. Foreign currency households get SWIFT foreign currency. At this time, please note that HKD and GBP of WISE do not support international wire transfers. , USD and EUR are supported.

Cross-border remittance to China UnionPay (using WISE)

foreword

Basic knowledge

Remittance preparation

Payee screenshot example

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