How to transfer money to a China bank account from Africa

Discover how African businesses can transfer money to a Chinese bank account, with the recipient details, currencies, timelines and compliance checks involved.

Key takeaways

• Transferring money from Africa to a Chinese bank account requires specific recipient details, including a CNAPS code (Chinese domestic clearing code) in addition to the SWIFT/BIC and account number
• China operates two currency codes: CNY (onshore) and CNH (offshore). Most international transfers to Chinese bank accounts settle in CNH
• Chinese banks apply strict purpose-code and documentation checks on inward foreign currency transfers, and funds can be held pending verification if details do not match
• A multi-currency account like the World Account from WorldFirst lets African businesses hold CNH and send payments to Chinese bank accounts at competitive FX rates, typically settling within 1 to 2 business days

For African importers and businesses working with Chinese suppliers, transferring money to a Chinese bank account is a routine but detail-heavy process. Transfers can go through smoothly within a day, or sit held for a week pending verification, depending on how accurately the recipient details and supporting documentation are prepared.

This guide walks through what African senders need to know before initiating a transfer: the recipient details Chinese banks require, how the two Chinese currency codes differ, the compliance checks on both sides, and the methods available for sending money.

Before you transfer: What you need to know

The friction in sending money to China does not come from the sending side alone. Chinese banks apply their own documentation and compliance checks on inward foreign currency transfers, especially for business-size amounts. Getting the transfer right the first time means preparing accurately on both ends:

• The sender’s details and supporting documentation must meet the sending country’s outward remittance requirements
• The recipient’s details must match their Chinese bank records exactly
• The currency, purpose code and transfer narrative must align with the supporting documents (invoice, contract or import documentation)

Small mismatches can hold up the transfer or route it into a compliance queue, which can take days to clear.

Recipient details required for transfers to China

Chinese bank accounts need more identifying information than most other international destinations. Before initiating the transfer, collect the following from your recipient:

• Full legal name exactly as it appears on their Chinese bank records (including Chinese company registration name for business accounts)
• Bank name and branch where the account is held
• Account number (Chinese business account numbers are typically 16 to 19 digits long)
• SWIFT/BIC code of the recipient’s Chinese bank (for example, BKCHCNBJ for Bank of China)
• CNAPS code (China’s domestic clearing code, usually 12 digits), required for mainland China transfers to ensure correct routing
• Recipient’s address in China (business or branch address), often required for compliance

For transfers to Chinese business accounts, suppliers can usually provide a stamped bank information letter confirming the account details. Request this before paying, especially for first-time transfers, and verify the beneficiary account name matches the invoice. A mismatch between the invoice entity and the beneficiary account name is the most common reason for fraud-related transfer holds.

Chinese banking: Understanding CNY, CNH and RMB

Chinese currency terminology can be confusing. Three terms you will encounter:

• RMB (Renminbi): The official name of the Chinese currency system.
• CNY (Chinese Yuan): The ISO code for onshore yuan, used within mainland China. Tightly regulated by the Chinese government and not freely traded outside the country.
• CNH (Offshore Yuan): The ISO code for offshore yuan, traded internationally through Hong Kong, London and other financial centres.

For international transfers from Africa to a Chinese bank account, the sending side typically works in CNH. When the funds arrive in mainland China, they settle into the recipient’s account as CNY. The practical implication: African senders typically convert their local currency into CNH, and the Chinese bank handles the final CNH-to-CNY accounting on arrival.

Compliance considerations for Africa-China transfers

Compliance applies on both sides of the transfer.

On the Africa side

Each African country has its own outward remittance framework. Nigerian businesses need an approved Form M on the Trade Monitoring System before their bank processes the outward payment. South African businesses apply SARB foreign exchange controls through authorised dealers. Kenyan businesses deal with CBK forex regulations. Supporting documents typically include a commercial invoice, contract or purchase order, and shipping documentation for import-related payments.

On the China side

Chinese banks apply SAFE (State Administration of Foreign Exchange) rules to inward foreign currency transfers. Business recipients may need to provide:

• A commercial invoice from the sender
• The underlying contract or purchase order
• Shipping documentation such as a bill of lading or air waybill
• A specific SAFE purpose code (trade in goods, services, salary and so on) that matches the transfer narrative

If the sender’s description does not match the purpose code the recipient’s bank applies, the funds can be held pending clarification. Chinese banks also apply enhanced monitoring to large or unusual inflows, with holds for source-of-funds verification common for first-time transfers over set thresholds.

How to transfer money to a China bank account with WorldFirst

The World Account from WorldFirst supports direct CNH payments to Chinese bank accounts for African businesses. The setup gives you better FX rates on your local-currency-to-CNH conversion and faster settlement than a traditional SWIFT wire.

Here are the key features of World Account in Africa

• Local receiving details in 15+ currencies, letting you collect international revenue in the matching currency rather than converting on arrival
• Collect from 130+ marketplaces and payment gateways
• Pay 1688.com suppliers through World Pay, the authorised international payment provider for 1688.com, from the same CNH balance
• Spend from your CNH or USD balance with the World Card for Chinese SaaS, platform fees and other business expenses
• Xero and NetSuite integrations for reconciliation

Here are the steps to transfer money to China bank account with WorldFirst

1. Open a World Account online, with no account opening fees or minimum deposit
2. Fund the account by receiving international income (USD, GBP, EUR from clients or marketplaces) or by converting from your held balances
3. Convert your held currency into CNH at competitive rates when you need to pay a Chinese supplier
4. Send the CNH payment directly to the recipient’s Chinese bank account, with settlement typically within 1 to 2 business days
5. Lock in forward rates for future supplier payments to protect your margin from FX movement (subject to eligibility)

FAQs

1. What is the difference between CNY and CNH?

CNY is onshore Chinese yuan used within mainland China. CNH is offshore Chinese yuan traded internationally. International transfers from Africa to China are typically sent in CNH, which settles into the recipient’s account as CNY on arrival.

2. How long does a transfer from Africa to China take?

SWIFT wire transfers typically take 3 to 5 business days, sometimes longer if a compliance review is triggered on either side. Multi-currency account transfers in CNH typically settle within 1 to 2 business days.

3. Do I need a Chinese bank account to send money to China?

No. African senders do not need a Chinese bank account to transfer money to Chinese suppliers. Multi-currency accounts, bank wires and Alibaba Trade Assurance all let you send funds without a local Chinese account.

This article is intended for informational purposes only and does not constitute legal advice or professional advice. This article should not be regarded as constituting an offer or a solicitation to buy or sell any regulated or financial products or services. WorldFirst makes no representations or warranties regarding the accuracy, completeness, or applicability of the content, and readers are encouraged to consult with legal professionals or other professionals for advice tailored to their specific situation. WorldFirst does not guarantee the accuracy and completeness of this article and expressly disclaims any and all liability to any person in respect of the consequences of anything done or omitted to be done wholly or partly in reliance on this article.