Wise has introduced enhanced cross-border payment services to Mainland China ahead of the Year of the Snake, offering customers in Hong Kong a more seamless and efficient experience.
Customers worldwide, including those in Hong Kong, can now send money to both mainland and non-mainland Chinese UnionPay users.
Additionally, Wise has increased transfer limits, allowing personal customers to send up to 33,000 RMB to UnionPay recipients (an increase from 18,000 RMB) and up to 50,000 RMB to WeChat recipients (up from 30,000 RMB).
Business customers sending money to UnionPay recipients will also benefit from the same higher transaction limit.
Transfers to UnionPay recipients have been made even faster, with certain transactions now credited to UnionPay cards in real time, enabling recipients to access the funds immediately.
“Many young employees working in Hong Kong under schemes like the Top Talent Pass Scheme, and Hong Kong citizens want to send a part of their income to their families in Mainland China,”
said Angel Chan, APAC Expansion Lead at Wise.
Wise has also reduced its global average fee to 0.62%, making international money transfers more affordable for both individuals and businesses.
