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yuan for someone in Guangzhou
The people sending from Zurich and Geneva to China tend to know exactly what the recipient needs in yuan. A rate that moves between send and settlement breaks that.
Grey fixes the EUR to CNY rate when you confirm and pays into ICBC, Bank of China, China Construction Bank, Agricultural Bank of China or any Chinese bank. European businesses pay Chinese suppliers and contractors, and Chinese students in Europe receive support from home.
How sending to China works
Sign up
Download Grey, verify with your passport or residence permit, and you're set in a few minutes. Grey works with regulated partners in Europe.
Fund
Send euros to your Grey balance by SEPA transfer in euros from a Swiss bank. Hold it there, and convert to CNY only when the payment to Guangzhou is due.
Send
For China, enter the beneficiary's name exactly as their bank holds it, plus bank, branch and account number. Confirm the CNY amount and send.
The cost of a transfer to Guangzhou
Grey shows one rate, EUR to CNY, and one fee. Both are fixed before you send from Zurich. The amount that reaches Guangzhou matches what you were shown.
What you agree is what arrives
The rate you accept in Zurich is the rate applied. Movements in either currency afterwards don't touch what arrives at ICBC, Bank of China, China Construction Bank, Agricultural Bank of China.
When you wire dollars to a Chinese supplier, their bank converts at a rate you never see and sometimes holds the funds for review. Yuan lands as a domestic credit.
What Swiss senders put up with before
Banks in China charge receiving fees on international wires and sometimes hold them for review. A payment from Zurich that lands as a domestic CNY credit at ICBC, Bank of China, China Construction Bank, Agricultural Bank of China clears faster and arrives whole.
What your recipient sees in Guangzhou
The person in Guangzhou gets what they'd get from a local transfer: CNY credited to their account at ICBC, Bank of China, China Construction Bank, Agricultural Bank of China. No collection, no code, no receiving fee. Confirmation shows in your app in Zurich at the same time.
ICBC and the rest
Every bank in China is covered, from the big names to regional ones.
Domestic credit
Your recipient sees a normal CNY deposit, not an international wire.
Confirmation in Zurich
The app in Switzerland shows settled the moment Guangzhou receives it.
Funding from Switzerland, in practice
Top up in euros from your bank app, or leave a small standing balance if you send to Guangzhou more than once a month. Swiss senders fund in euros by SEPA from UBS, PostFinance or Raiffeisen. Grey doesn't hold a franc balance, so the euro account is the working balance.
From UBS, PostFinance, Raiffeisen or any Swiss bank with a euro account
euros credited in minutes.
From abroad
USD, EUR or GBP straight to CNY.
From Grey
GreyTag balances are ready to send to China immediately.
If the CNY amount matters more than the EUR amount, enter the CNY figure first and let Grey work back to what you'll pay.
Who this route is for
E-commerce sellers
Recurring payments to suppliers on 1688 and Alibaba who accept bank transfer.
Students
Tuition at universities in Nanjing, Wuhan and Guangzhou, paid in yuan.
Agents and freight
Paying Chinese sourcing agents and forwarders in local currency.
Importers
Deposits and balance payments to factories in Guangzhou, Shenzhen, Yiwu and Ningbo.
Seen from Zurich, the corridor looks like this. European businesses pay Chinese suppliers and contractors, and Chinese students in Europe receive support from home. From Zurich, the money tends to go to specific bills with specific due dates.
Grey on Switzerland to China, in three points
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