It can be not easy to send money internationally. The task is made even more complicated for individuals trying to send payments from Russia to China, especially for buyers who, most of the time, face delays, rejected transactions, and unclear instructions when transferring their money. Because banks operate under very tight regulations and some of the payment channels have become obsolete.
This guide is about how people send money from Russia to China today. It describes the most popular options that are used nowadays. Every approach is appropriate under certain conditions. For example, some methods are suitable for low-value payments, while others are better suited for high-value transactions over a long period.
Its objective is straightforward: it should help readers see what they can opt for without problems and prevent costly errors.
Why It Is Difficult to Send Payments From Russia to China
The difficulty encountered when trying to send a payment from Russia to China is due to various factors. It’s not simply a single rule which is at fault here. The problem is with the risk assessment, compliance and any other related matters that are associated with cross-border in nature and which are dealt by financial institutions.
1. Limited access to international banking networks
Due to Western sanctions and Russia’s partial disconnection from SWIFT, many Russian banks have difficulty making international transfers. This problem is worse for transfers in USD or EUR. If a Russian bank succeeds in sending money, the receiving bank may reject the transaction before the funds are credited.
2. Strict controls from major Chinese banks
Strong internal checks are standard among most big banks in China. In many cases, transactions involving Russia experience delays or are denied to prevent the imposition of derivative sanctions. As a result, purchasers might be forced to use the services of small local banks or specialized settlement channels rather than large ones.
3. Restrictions under Russian domestic law
Russian legislation applies to outbound payments as well. There is a restriction on the volume of money that can be taken out by persons. Regulations on foreign exchange transactions equally apply. Financial institutions might demand an indicated purpose of payment, payment related papers and evidence of customer staying for any before letting the transaction go through.
All these taken into account, it is imperative that buyers opt for an appropriate method of payment. Failure to do this may result in blocked funds, extended waiting periods, or unsuccessful deals. Therefore, one should be familiar with how money is sent from Russia to China before making any transfers.
Small Payments and Samples: Transfer Apps and Digital Services
Many buyers use specialized transfer services to make small payments and order samples. These app-based solutions are designed for speed and ease of use. They are commonly used when buyers need to send money quickly without setting up bank transfers.
a. How these services work
With services such as koronapay, one can send rubles using bank cards that are issued in Russia. Money can be received in mainland China via UnionPay bank cards or digital wallets such as Alipay and WeChat Pay.
b. Basic transfer process
Normally, it is a simple process: the sender downloads the application, selects China as the destination country, chooses either card/e-wallet, and then fills in the recipient’s payment information, which is done via a Russian bank card. There are some restrictions, and all customers must complete KYC procedures. This is what we test still working for our customer, can pay directly from Russia to China Union pay bank account.
Koronapay→ UnionPay / Alipay / WeChat
c. Supported payout channels
If the person receiving the money cannot make international wire transfers, Koronapay can send money from Russian bank cards to UnionPay cards or to Alipay and WeChat Pay wallets in mainland China.
d. Transfer speed
The service ensures same-day delivery. However, independent reviews suggest that the transactions could take between a few minutes and 24 hours to be completed. It all depends on the route and whether verification is through.
e. When this option is most useful
If the sender has only a Russian bank card and the receiver uses a Chinese e-wallet or bank card, then this approach is perfect. It works well for low-value payments, samples, or test transactions that prioritise speed over cost.
Although it is convenient, there are some apparent restrictions. There are maximum amounts that can be sent daily or monthly. Compared to standard bank transfers, the charges are also higher. As such, these facilities are inappropriate for substantial business payments. Still, they offer a practical way to send payments from Russia to China for small and urgent transactions.
Some buyers also look for secure payment options, especially when dealing with new suppliers or first-time transactions.
Supported Payout Options in China
When using transfer apps to send payments from Russia to China, the recipient usually needs access to a supported payout channel. Some of the most common ones are UnionPay cards and popular digital wallets such as Alipay and WeChat Pay.
In China, UnionPay cards are widely accepted and can be used in many places. A good number of merchants in the country already use these cards. This makes card-based payouts convenient when sending payment from Russia to China.
Digital wallets are practical for natural persons and small companies because they provide immediate access to money. Such wallets are standard tools for making internal transactions within China.
Before sending any money, purchasers must establish with the suppliers the payout method they would prefer. If this is not done there might be problems with the transfer (delays or failed transfers) when trying to send payments from Russia to China.
Bulk Orders: Bank Transfers Using VTB and Kunlun Bank
Bank transfers are still the best choice, especially when dealing with bulk orders as well as in repeat trade and with suppliers that one has dealt with for a long time.
Among the many ways is the use of VTB Bank and Kunlun Bank. These banks facilitate payments in local currencies, thereby enabling buyers to make direct payments to their Chinese suppliers in Chinese Yuan or Rubles.
This method is often used for:
- Bulk manufacturing orders
- Ongoing supplier relationships
- High-value transactions
When buyers send payments from Russia to China through bank transfers, funds usually arrive within one to three business days. It is cheaper to pay through this means as compared to using applications. The majority of these transactions attract a fee of around 0. 17 percent; nevertheless, this could differ depending on the bank and nature of transaction.
For this method to work, both parties need to have bank accounts that can work together. The supplier should have a means to get paid through the same route. It is common for banks to ask for additional paperwork like contracts, invoices or any other relevant information just so they can process your wire transfer smoothly.
Paying Chinese suppliers from Russia becomes easy and cheap if the seller can take payments through VTB or Kunlun Bank. In cases where the supplier is unable to support these banks, most buyers opt to engage a trustworthy sourcing or shipping agent that will help them with payment and settlement.
What Is VTB and Why It Is Used
Among the major financial institutions in Russia is VTB Bank. With its main office in Moscow, it also has branches across the globe, with one of the most important ones being located in Shanghai. The presence of this international network enables the bank to facilitate cross-border payments from Russia to China for clients.
Due to current deficiencies in global banking systems, VTB relies on its internal transfer network and approved correspondent banking relationships. This is important because it can be guaranteed that funds will always be settled smoothly through such arrangements, even if there are problems with the normal payment channels. As a result, some transactions can be processed more smoothly when businesses send payments from Russia to China compared to banks with fewer cross-border capabilities.
This is crucial for companies that engage in normal business transactions. Late payments can disrupt the production process and damage relationships with suppliers. When payment is made from Russia to China, a smooth settlement system mitigates such risks and underpins ongoing trade.
Nonetheless, it is important to note that not all suppliers from China will be able to receive money through VTB-related channels. This is because it depends on the type of bank and the account the supplier has set up. Buyers must ensure they have paid in advance to avoid any challenges when making payments from Russia to China, including but not limited to delays or failed transactions.
What to Do If the Supplier Cannot Receive Bank Transfers
There are times when the suppliers are unable to get their money through VTB or other related banks. Nevertheless, such a situation should not halt the deal. There is usually another way for payment.
Mostly in such cases buyers engage third-party sourcing or payment agents. It is a common practice among Russian buyers nowadays. The agent receives funds on behalf of the buyer and then settles payment locally with the supplier in China using approved domestic channels.
This option is typically used when:
- There is no bank account for the supplier that can allow cross-border transfers
- Direct bank transfers experience delays or are rejected repeatedly
- Local support in China is necessary for buyers to handle payments and coordination
- Help you make a custom clearance and tax refund, if your supplier can not handle export or if they do not have a VTB account.
Working with an agent is costly because there are fees for the services provided. Therefore, it is crucial to select a dependable partner. Purchasers must seek transparent pricing, transparent processes, and proven experience in managing international payments.
For more than 10 years, SourcingXPro has been assisting foreign buyers. Given our knowledge of vendors and payment gateways in China, we can step in and provide a solution for non-achievable direct transfers, ensuring the transaction goes through smoothly.
Although using a middleman may not be suitable in all cases, it becomes a viable alternative when the failure of direct payment methods threatens the normal flow of trade.
Choosing the Right Payment Method
There isn’t a one-size-fits-all solution. The right choice is influenced by the amount, how quickly it is required and the kind of supplier.
For little payments, it is advantageous to use quick uncomplicated methods. In such cases, applications and electronic services are very effective.
High-value orders require security and reduced charges. The most appropriate means of payment in such cases is still through a bank if available.
Buyers need to do the following before sending funds:
- Make sure they know how the supplier will receive the payment
- Inquire about the kind of currencies that can be used
- Be aware of any charges and restrictions
- Retain a record for every transaction
Taking these steps reduces risk. It also improves long-term cooperation.
Final Thoughts
One has to plan well before sending money through different countries. This becomes crucial, especially in the presence of contemporary banking limitations. A buyer can prevent delays and unsuccessful deals by knowing how to send payments from Russia to China.
Every alternative has its appropriate use. Transfer applications are suitable for low-value payments and prototypes. On the other hand, bank transfers are most effective when dealing with large quantities or long-term business. In cases where a direct connection is not possible, mediators may be used to bridge the gap.
These are some of the problems we often encounter at SourcingXPro, and we help buyers overcome them by coming up with workable payment solutions depending on their circumstances. Choosing the most appropriate method and engaging competent partners ensures that buyers do not lose their money and that the business runs smoothly.
