Chinapolicecheck.com accepts Western Union, Bank Wire, Bank Transfer, Telegraphic Transfer and Paypal as payment methods, the differences among them are listed as below. Also the definition of Correspondent Bank related to the international wire transfers.
| Payment Method | Western Union | Bank Transfer | Paypal | |
| Process Time | In minutes | 2-4 working days | In minutes | |
| Correspondent Bank[1] | Not Involved | Involved | Not Involved | |
| Correspondent Bank Fee[2] | Not Involved | 15-18 USD | Not Involved | |
| Supported Currencies | USD | AUD, CAD, EUR, GBP, SGD & USD | USD | |
| Paypal Service Fee | Not Involved | Not Involved | 4.4% | |
| Currency Conversion Fee[3] | Not Involved | Not Involved | 2.5% | |
| Withdrawing Fee (CNY) | Not Involved | Not Involved | 1.2% | |
International wire transfers often occur between banks that do not have an established financial relationship. When agreements are not in place between the bank sending a wire and the one receiving it, a correspondent bank must act as an intermediary. For example, a bank in San Francisco that has received instructions to wire funds to a bank in Japan cannot wire funds directly without a working relationship with the receiving bank.
The correspondent bank charges fees for its service in the International wire transfers between your bank and beneficiary bank.
Fees apply for currency conversion of your payments in Foreign currency other than USD.
How to pay by bank transfer
How to pay by PayPal
How to pay by Western Union
In order to make a better understanding about the cost, we calculate the cost of USA clients who sending us 314 USD equivalent to 2000 CNY, based on the information of Western Union and PayPal offical websites.
|
|
Western Union (WU) |
PayPal |
|
Transfer Time |
In minutes |
In minutes |
|
Estimated Total Receiver gets |
314 USD |
314 USD |
|
WU Transfer fee |
35 USD |
N/A |
|
Paypal Service Fee |
N/A |
314*4.4% = 13.81 USD |
| Currency Conversion Fee | N/A | N/A |
| Paypal Withdrawing Fee | N/A | 314*1.2% = 3.76 USD |
|
Total Payout |
349 USD |
331.57 USD |
We shows the cost of UK clients who sending us 232 GBP equivalent to 2000 CNY, based on the information of Western Union and PayPal offical websites.
|
|
Western Union (WU) |
PayPal |
|
Transfer Time |
In minutes |
In minutes |
|
Estimated Total Receiver gets |
314 USD (WU wires USD and EUR into China) |
232 GBP |
|
WU Transfer fee |
15.90 GBP |
N/A |
|
Paypal Service Fee |
N/A |
232*4.4% = 10.20 GBP |
| Currency Conversion Fee | N/A | 232*2.5% = 5.80 GBP |
| Paypal Withdrawing Fee | N/A | 232*1.2% = 2.78 GBP |
|
Total Payout |
246.70 GBP |
250.78 GBP |
Western Union also makes money from currency exchange. When choosing a money transmitter, carefully compare both transfer fees and exchange rates. Fees, foreign exchange rates and taxes may vary by brand, channel, and location based on a number of factors. Fees and rates subject to change without notice.
The Transfer Fee quoted above is calculated for an online transaction done on 2018/05/06. Fees at agent locations may differ from online fees.