Yes, you can send money to China through your commercial bank, but this is inadvisable. Compared to OFX’s online transfer rates, local banks are more expensive and charge higher fees. We recommend using OFX’s online calculator and comparing it with how much your bank charges for international money transfer.
Like all reputable money exchanges, we are registered with AUSTRAC and regulated by the Australian Securities and Investment Commission (ASIC).
S Money complies with the relevant laws pertaining to privacy, anti-money laundering and counter-terrorism finance. This means you are required to provide I.D. when you place an order. It also means the order must be paid for by the same person ordering the currency and you must show your identification again when receiving your order.
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