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How American senders reach China
Start from the recipient's side. Someone in Guangzhou needs a fixed sum in yuan by a fixed date, and they bank with ICBC or another local bank. North American businesses pay Chinese suppliers, and families support students at Chinese universities.
Grey works backwards from that: enter the CNY figure, see the USD cost from New York, and send. The rate holds.
How sending to China works
Sign up
One government-issued ID and a few minutes is all it takes to open Grey in New York. Grey Inc is registered with FinCEN.
Fund
Move dollars in by ACH, wire or FedNow from any US bank from Chase, Bank of America, Wells Fargo, Capital One or any US bank. Or send from USD, EUR or GBP you already hold on Grey.
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.
Two numbers, both shown first
With Grey, a sender in New York sees three numbers before confirming: the USD debited, the fee, and the CNY that reaches Guangzhou. None of them change afterwards.
CNY amount held from send to settlement
Enter the CNY amount first if the recipient's figure is what matters. Grey shows the USD cost from New York and locks it.
The person at ICBC sees exactly the sum you agreed.
The corridor most banks won't touch
Between New York and Guangzhou, the problem is well known. 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. From New York, Grey does the conversion transparently and delivers CNY as a domestic credit at ICBC or any other bank.
On the receiving side
The CNY posts directly to the recipient's own account at any Chinese bank, including ICBC, Bank of China, China Construction Bank, Agricultural Bank of China. To them it looks like a domestic credit. The sender in Houston sees it settle in the app.
Works with every Chinese bank
From ICBC to the smallest regional lender.
Looks local to them
A CNY deposit on their statement, nothing more.
Grey optional on their side
Unless they want GreyTag, which is instant and free.
Topping up in New York
US senders fund by ACH, wire or FedNow from Chase, Bank of America, Wells Fargo or any US bank. FedNow lands instantly where the sending bank supports it. Then Guangzhou is a conversion and a tap.
From Chase, Bank of America, Wells Fargo, Capital One or any US bank
ACH, wire or FedNow from any US bank, credited in minutes.
From foreign clients
USD, EUR or GBP paid into Grey converts to CNY in one step.
From GreyTag
Another Grey user in the US or abroad can fund you instantly.
For a American sender, being able to convert to CNY at the exact moment you choose is worth more than any fee saving.
Who sends from the US to China
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.
North American businesses pay Chinese suppliers, and families support students at Chinese universities. What they share, from New York to Shenzhen, is a payment that repeats and a recipient who needs an exact CNY figure.
What you get on the China route
Get digital banking
at your fingertips
