Forgot Username or Password/PIN?
MoneyExpress Frequently Asked Questions

A How-to Guide


Follow this guide to learn about how to send money to China with MoneyExpress in 6 easy steps.

SETTING UP YOUR MONEYEXPRESS ACCOUNT

  • What is MoneyExpress?
  • MoneyExpress, powered by UnionPay, is an easy way for you to send money electronically from your MoneySwap e-wallet to any Chinese national with a UnionPay card.
    MoneyExpress eliminates the difficulties of wire transfers and cash, so that sending money is simple, secure and fast.

  • How does it work?
  • When you send money to a UnionPay card, the system performs real-time checks on the cardholder’s annual foreign exchange quota of USD 50,000, maintained by the State Administration of Foreign Exchange (SAFE) in China. If the quota is enough to receive the amount you sent, your money will be converted into RMB and be credited to the UnionPay card account in real-time.

  • What can I use MoneyExpress for?

  • SENDING MONEY

  • Can I pay to any UnionPay card?
  • You can only send money to UnionPay cards issued by the following banks. The cardholder must also be a Chinese national.

    銀行名稱 / Name of Bank 借記卡
    Debit Card
    信用卡
    Credit Card
    1 工商银行
    Industrial and Commercial Bank of China
    2 中国银行
    Bank of China
    3 交通银行
    Bank of Communications
    4 建设银行
    China Construction Bank
    5 光大银行
    China Everbright Bank
    6 哈尔滨银行
    Harbin Bank
    7 上海银行
    Bank of Shanghai
    8 临商银行
    Lingshan Bank
     
    9 湖南农信
    Hunan Rural Bank
     
    10 青海农信
    Qinghai Rural Bank
     
    11 广东农信
    Guangdong Rural Bank
     
    12 河南农信
    Henan Rural Bank
     
    13 华夏银行
    Huxia Bank
     

    * This list is subject to change without notice.


  • What recipient information do I need to make a transfer?
  • You will need the cardholder’s family name and given name in Chinese pinyin, as well as the UnionPay card number.

  • What does the UnionPay cardholder need to do to receive the fund?
  • If all cardholder details are correct and the cardholder’s remaining annual foreign exchange quota is sufficient for receiving the transfer, the deposit of the RMB funds will be automatic and the cardholder does not need to do anything to receive the fund.

  • Will any personal information be shared with my recipient?
  • None of your personal information will be shared to the recipient. Please refer to "Q. What would the cardholder see on his/her bank statement?" for what information the recipient will see.

  • How long does it take for the money to arrive?
  • Money sent from 07:00 to 22:00 Beijing time (GMT+8), when both UnionPay and SAFE systems are online, will be credited to the UnionPay card account in real-time.

  • When is real-time crediting not available?
  • Real-time crediting to a UnionPay card is only available from 07:00 to 22:00 Beijing time (GMT+8). The UnionPay and SAFE systems will be offline for maintenance from 22:00 to 07:00 Beijing time (GMT+8), during those hours you will not be able to use the MoneyExpress service.

  • Will I be notified when my recipient gets my remittance?
  • As soon as you see a “Success” message, it is confirmation that the remittance has already been credited to the recipient’s UnionPay card.

  • How is the conversion rate determined?
  • UnionPay is responsible for the currency conversion into RMB, at a real-time conversion rate determined by MoneySwap and by UnionPay.

  • Is there any limit in amounts that I could send to a UnionPay card?
  • Yes. There are three limits:
    a) For every transaction, you could send a maximum of USD 3,000 (or equivalent in other currencies).
    b) For each card each per day, you could send a maximum USD 5,000 (or equivalent in other currencies).
    c) For each individual in China, he/she could receive a maximum of USD 50,000 per calendar year (or equivalent in other currencies).

  • Are there any fees?
  • Yes. Fees are collected by MoneySwap for the use of this service. It will be charged to your MoneySwap e-wallet and is shown to you as part of the transaction information. For a promotional period, you only need to pay USD 10.00 (or equivalent in other currencies) for each remittance you make with MoneyExpress.

  • Can I cancel a payment?
  • As soon as you confirm sending the money to a Unionpay Card by entering your password on the transaction confirmation page, the transaction will be irrevocable and cannot be canceled or reversed by MoneySwap.

  • How do I add a new recipient?
  • You can do so by adding a new Recipient UnionPay Card. Select Track Money under the Remit to China menu there you will be required to enter a reference name for the recipient and his/her name in Chinese pinyin and the UnionPay card number. You will need to confirm the newly added card by clicking the ‘Confirm Card’ button and following the instructions on the confirmation email that you will receive. Once confirmed, you can start sending money to that UnionPay card immediately.

    RECEIVING MONEY

  • How will my recipient be notified?
  • If your recipient has mobile banking enabled, he/she may receive a text message on his/her mobile notifying of the new fund arrival. Also, the recipient can check his/her bank statement for the details of the money sent through MoneyExpress.

  • What does my recipient need to do to get the money?
  • If all cardholder details are correct and the cardholder’s remaining annual foreign exchange quota is sufficient for receiving the transfer, the deposit of the RMB funds will be automatic and the cardholder does not need to do anything to receive the fund.

  • What would the cardholder see on his/her bank statement?
  • Cardholder should see the following details on the bank statement:
    交易日期 摘要 交易场所 交易国家 鈔/汇 交易金额 记账金额
    Transaction Date Summary Transaction Location Transaction Country Cash/TT Transaction Amount Credit Amount
    [日期] 现存/Cash Deposit MONEY SWAP EXCHANGE LTD HKG HKG 鈔/Cash [美元金额] [人民币金额]

    TRACKING MONEY

  • When and how to use the TRACK MONEY function?
  • Whenever you confirm sending money to a Recipient UnionPay Card , you will get a Tracking Number for your transaction. You can check the status of the remittance by selecting Track Money under the Remit to China menu. You can search for a transaction either by its Tracking Number, or by the recipient reference name.

  • What can I do if the status of the remittance transaction is shown as ‘Failed’ in TRACK MONEY?
  • If a remittance transaction has a status of ‘Failed’, it means that the remittance could not be processed. Your account had not been deducted and no money has been sent to the recipient. You may want to try sending money to a different UnionPay card.

  • What can I do if the status of the remitted fund is shown as ‘Queued’ in TRACK MONEY?
  • If a remittance transaction has a status of ‘Queued’, it means that the remittance will be processed at a later time. This usually happens when you are sending money when the SAFE system is offline from 22:00 to 07:00 Beijing time (GMT+8) everyday. You should check the status again later to see whether the remittance is successful or not.

  • What can I do if the status of the remitted fund is shown as ‘Pending’ in TRACK MONEY?
  • If a remittance transaction has a status of ‘Pending’, it means that the remittance may take a longer time to complete (usually within 24 hours). You should check the status again later to see whether the remittance is successful or not.