Convert & transfer money to Australia from China - Travel & foreign exchange

Convert & transfer money to Australia from China

Once your ANZ account is set up, it is time to consider converting and transferring funds. By transferring funds in advance, you will have ready access to cash when you arrive in Australia. And, if you keep an eye on currency fluctuations, you'll be better placed to make the transfer when foreign exchange rates are in your favour. With ANZ's assistance, transferring funds to Australia can be quick and easy.

Under Chinese regulation, Chinese nationals can convert up to the equivalent of USD $50,000 per year into foreign currency and transfer it out of China. You can convert additional amounts (up to $50,000 for each linear relative) if you have a letter of authority from your relative and their ID card. A linear relative includes your husband or wife, parents and children.

To convert your RMB into foreign currency, you just need to bring:

your RMB (up to equivalent USD $50,000) into the closest ANZ branch,
your ID card,
a letter of authority from your relatives and their ID cards if you are converting RMB on their behalf.

Your friendly ANZ team will help you convert and transfer the money to Australia.

If you convert and transfer the money on the same day you can transfer the total amount converted. However once you hold the foreign currency, if you do not transfer it all on the same day as conversion you may only transfer up to equivalent of USD $10,000 per day.

If you hold an overseas passport, to convert RMB into foreign currency you must show:

an employment contract,
payment slips
a tax invoice.

To arrange to transfer your funds to Australia, email ANZ China at movingfromchina@anz.com

Some of the ways ANZ China can assist you include:

Opening a foreign currency account for international payments
Transferring your funds, quickly and safely
Converting your RMB to foreign currency when you need to make payments back at home or transfer money.

If you would like to transfer funds to your Australian bank account using another bank in China, you can request the bank to send a CNY payment (also known as a telegraphic Transfer or International Monetary Transfer) to your ANZ account as follows:
To: ANZ Melbourne (SWIFT: ANZBAU3M)
BSB : ### ### (your BSB)
Account: ######### (your account number)
Upon receipt of your payment, ANZ will convert your CNY into AUD and credit your account. View ANZ's Foreign Exchange Rates.