With this new capability, Aspire customers can send CNY directly to Chinese bank accounts via local rails, avoiding slow and costly SWIFT transfers. Funds arrive the same day, with a transparent 0.1% fee and high transfer limits to support larger supplier payments — all while meeting local regulatory requirements.
Why it matters
Many suppliers in China face strict controls when receiving foreign currency, often requiring additional conversion steps before funds can be accessed. Aspire’s local CNY payouts remove this friction by ensuring suppliers receive funds directly in CNY, helping businesses maintain smoother operations, healthier cash flow, and stronger supplier relationships.
Beyond supplier payments, the feature also supports businesses looking to return revenue back into China, enabling a seamless, cost-efficient way to move funds home in local currency.
Key benefits
- Same-day settlement for faster order processing
- High transfer limits (up to CNY 350,000 per transfer)
- Local delivery in CNY, no SWIFT delays or hidden fees
- 0.1% transparent pricing
- Ability to receive funds back into your own or UBO’s China account
Local CNY payouts are now available to all Aspire customers in Hong Kong for supplier payments and returning funds to their own individual accounts in China. Support for CNY payments for services will be introduced in a future phase.
.webp)