To transfer funds from India to China, you can avail the services of any of the money-transfer companies, such as MoneyGram, Xoom or Western Union. To transfer money through MoneyGram or Western Union, you have to go to one of the companies' offices. The recipient will also have to visit an agent location to retrieve the funds. On the other hand, if you transfer money through Xoom, you can send it online and the recipient can pick it up from Xoom’s office, have it deposited directly to his bank or have it delivered at his doorstep.
Through an Agent Location
Decide whether you want to transfer money from India to China through MoneyGram or Western Union. The fee is different for both companies. You can compare the fees by visiting the company websites by clicking the links in Resources.
Click the links in Resources to find agent locations for the company you have chosen. Select the location that is nearest to where you are in India.
Visit the agent and take along some photo identification. The office clerk gives you a “Send Money” form, which asks a few simple questions such as your and the receiver’s names, addresses and the amount to be sent. Upon filling out the form, give it to the clerk with the money and the fee.
Take the receipt from the clerk along with a reference number/MTCN (money transfer control number). This number is required for verification when the receiving party goes to pick up the money from an agent location in China. Share this number with the recipient.
Through the Web
Visit Xoom’s website (see Resources) and use the cost-estimating tool to figure out how much it costs to transfer the money. It is a good idea to have information about company fees beforehand so there are no surprises during the transaction process.
Click the “Register Now” button on Xoom’s website and fill out the form for signing up. You have to enter your name, email address, billing address, current city and state in India, bank account information or credit card number. After registering, you are ready to send money from India to China.
Click on “Send Money” and enter the recipient’s details. Select “China” from the list of countries and enter the amount that you want to send.
Select how you want the recipient to receive the money. Xoom gives you three options: “Cash Pickup,” through which your money is sent to Xoom’s agent location in China and the recipient picks it up from there; “Bank Deposit,” through which the money is directly deposited to the recipient’s bank account; and “Cash Delivery,” through which the recipient receives cash at his home address. If you select “Bank Deposit,” you have to enter the recipient’s bank account information.