2025 Guide for Chinese Users Remitting to Europe: Detailed Comparison of Wise vs. Alipay

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If you want to remit money from China to Europe in 2025, you will typically consider Wise and Alipay. When comparing Wise with Alipay, you will find that each has its own advantages and disadvantages. You need to focus on fees, transfer speed, security, and ease of use. Different services suit different users, and you should choose based on your actual needs. For example, some users prioritize fees, while others value transfer speed.

Key Points

• Wise offers transparent and low fees, using the mid-market exchange rate with no hidden charges, suitable for cost-conscious users.
• Wise has fast transfer speeds, typically within 2 hours, ideal for individuals and businesses needing urgent funds.
• Wise is regulated by multiple countries’ financial authorities, ensuring fund safety with user funds stored separately from company funds, offering high security.
• Wise is easy to use and supports multi-currency management, suitable for users with frequent cross-border remittances and multi-currency needs.
• Alipay’s cross-border remittance services are limited, mainly suitable for users in Hong Kong and Macau, unable to meet the needs of remittances from China to Europe.

Wise vs. Alipay Comparison

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Fee Comparison

When choosing a remittance tool, fees are the most direct consideration. When comparing Wise with Alipay, Wise’s fee structure is highly transparent. You only need to pay a fixed fee and a variable fee based on the transfer amount, with no hidden charges. The table below shows the fee structures of both:

Wise uses the mid-market exchange rate, avoiding the common exchange rate markups found in traditional banks. You can check the real-time exchange rate on the Wise platform at any time, ensuring transparency for every transfer. In contrast, Alipay’s fee information is opaque, and it has largely discontinued most cross-border remittance services, unable to meet your need for transparent fees.

Speed Comparison

When comparing Wise with Alipay, transfer speed is another key concern. Wise typically completes transfers within 1-2 hours, with a maximum of 2 days. Alipay once supported instant transfers, with funds received in minutes. The table below summarizes the average transfer times for both:

Many factors affect transfer speed, including the remittance location, currencies involved, bank processes, holidays, and security verifications. When using Wise, you typically experience fast transfer speeds, especially suitable for scenarios requiring urgent funds.

Tip: If you transfer during holidays or peak periods, the transfer time may be extended. Plan ahead to avoid delays.

Security Comparison

When comparing Wise with Alipay, security is a critical factor you cannot overlook. Wise requires identity verification to ensure the account is genuine and prevent unauthorized use. Your funds are protected by multiple layers during the transfer process. Wise is also subject to strict regulation by financial authorities in multiple countries, including:

• UK Financial Conduct Authority (FCA)
• US Financial Crimes Enforcement Network (FinCEN)
• Australian Prudential Regulation Authority (APRA)

These regulatory measures ensure greater safety for your funds. Although Alipay has a strong reputation for security in China’s mobile payment sector, there is no public information on its cross-border remittance security measures. When choosing, Wise’s international compliance and fund protection are more trustworthy.

Ease of Use Comparison

When comparing Wise with Alipay, operational convenience is another factor to consider. Wise’s user interface is simple, suitable for individuals and small businesses. You can quickly complete registration and remittance through its English interface. Although the interface is in English, the process is clear and suitable for users frequently making small international transfers. You only need to create an account, input recipient details, choose a payment method, and confirm the payment, making the process simple and efficient.

Alipay’s interface is primarily in Chinese, with a large user base and once supported multiple payment methods. However, its cross-border remittance services have been significantly reduced, unable to meet your international transfer needs.

Coverage Range

When comparing Wise with Alipay, coverage range differs significantly. Wise supports multi-currency accounts globally, suitable for managing and converting currencies like USD and EUR. You can transfer funds to Hong Kong bank accounts or directly to major European banks. Wise also supports transfers to Alipay accounts, making it convenient for flexible transfers between China and Europe.

Alipay primarily serves mobile payments and consumption within China, with cross-border remittance services largely discontinued. If you need to transfer funds from China to Europe, Wise has become the mainstream alternative.

If you are a cross-border e-commerce seller, trading company, or overseas Chinese, Wise’s multi-currency support and global coverage better meet your needs.

Through the above comparison of Wise and Alipay, you can see that Wise has clear advantages in fees, speed, security, ease of use, and coverage range. Wise’s transparent fee structure, fast transfers, robust security measures, and global coverage make it the top choice for Chinese users remitting to Europe in 2025.

Wise Fees and Exchange Rates

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Fees

When using Wise for remittances, you can clearly feel the transparency and low cost of its fee structure. Wise does not charge account maintenance fees, allowing you to hold over 40 currencies for free without worrying about minimum balance requirements. Remittance fees consist of a fixed fee and a variable fee based on the transfer amount. Fees are lowest when paying with Wise balance. Using a credit or debit card incurs slightly higher fees. The table below summarizes Wise’s main fee standards:

You can use Wise’s real-time fee calculator on its website to check the specific fees and expected receipt amount for each transfer. Wise does not charge complex telegraph fees or intermediary bank fees like traditional banks. You receive a higher actual amount, with fees clearly displayed.

Exchange Rate Transparency

Wise uses the mid-market exchange rate, meaning you won’t bear any hidden fees in the exchange rate. You can check the exchange rate in real-time on the Wise website or account services. Wise also supports API and automation nodes, allowing you to access the latest exchange rate information anytime. Key advantages include:

• Wise uses the true mid-market rate, ensuring transparent exchange rates.
• You can clearly see all fees and exchange rates before the transaction, avoiding unexpected losses.
• Wise’s multi-currency account allows you to easily manage USD, EUR, and other currencies, ideal for cross-border fund flows.

Compared to traditional banks like those in Hong Kong, Wise does not mark up exchange rates or charge multiple fees. You typically receive a higher amount after currency conversion, with faster transfer speeds. You can confidently choose Wise for international remittances, enjoying low-cost and highly transparent services.

Wise Transfer Speed

Transfer Time

When using Wise for remittances, transfer speed is typically fast. Most user feedback indicates that Wise’s official average transfer time is within 8 hours. In many cases, you can receive funds within 2 hours. Different transfer methods affect the speed. Refer to the table below for transfer times by method:

When choosing bank debit, debit card, or credit card, transfer speed is fastest. Wire transfers generally take about 6 hours. If you receive funds in a Hong Kong bank, transfer speed is also reliable. Wise can achieve instant transfers in some cases, ideal for urgent fund needs.

Tip: Transfers during holidays or non-business hours may face delays. Operate during business days and banking hours to improve transfer efficiency.

Influencing Factors

When using Wise for remittances, actual transfer speed is affected by multiple factors. You can understand the following points to better plan your transfer time:

1. Intermediary Bank Fees and Number: If your funds pass through multiple intermediary banks, each step may increase fees and time, slowing down the transfer.
2. Government Regulations and Tax Policies: Different countries have varying regulatory requirements for cross-border remittances, sometimes requiring additional verification documents, which may extend transfer time.
3. Transfer Channel and Method: Different channels and methods have varying processing speeds and fees. Choosing the right method can speed up transfers.
4. Transfer Timing: Transfers during banking hours are processed faster. Large exchange rate fluctuations may also affect transfer speed.
5. Using Third-Party Payment Platforms or Forex Providers: Wise collaborates with multiple banks to optimize transfer paths, reducing intermediary steps and improving transfer efficiency.
6. Same-Bank, Same-Name Account Transfers: Transferring to a same-name account in the same bank avoids interbank processing, speeding up transfers.

You may face restrictions during deposits and withdrawals, such as single-transaction amount limits or additional identity verification. Understand relevant regulations in advance to avoid unnecessary delays. Choosing the right transfer method and timing ensures faster fund arrivals, meeting your actual needs.

Wise Security

Regulatory Compliance

When choosing a cross-border remittance service, regulatory compliance is crucial. Wise is certified by authoritative financial regulators in multiple countries and regions. You can refer to the table below for Wise’s regulatory credentials in major markets:

You can see that Wise is officially licensed in the UK, US, Australia, Europe, Singapore, and Hong Kong. These regulators periodically audit Wise’s operations, ensuring the safety of your funds. When using Wise, you can transfer with confidence, free from compliance risks.

User Fund Protection

Wise places great emphasis on your fund security. Each time you transfer, Wise stores your funds separately from its own funds. This prevents your funds from being affected by company operational issues. Wise also uses multi-factor authentication and encryption technology to protect your account information from leaks.

When operating on the Wise platform, every step requires identity verification. Wise uses SMS, email, or app-based verification codes to ensure only you can access your account. Wise also monitors unusual transactions, promptly alerting you to account security concerns.

Tip: When setting up your Wise account, enable two-factor authentication to further enhance account security and prevent unauthorized use of your funds.

When choosing Wise for cross-border remittances, you benefit from global regulatory compliance and robust fund protection. Whether you’re an individual or business user, Wise safeguards your funds effectively.

Wise Ease of Use

Operational Process

When using Wise for cross-border remittances, the process is highly intuitive. You can follow these steps to complete the operation:

1. Visit the Wise website, register an account, fill in personal information, and set a password.
2. Upload identity documents, such as a passport or ID card, to complete identity verification.
3. Log in to your Wise account and select the “Send Money” function.
4. Enter the transfer amount and currency; the system displays real-time exchange rates and fees.
5. Fill in recipient details, including name, address, and bank account information.
6. Choose a payment method, such as bank transfer, credit card, or debit card.
7. Confirm all details and click “Send” to complete the transfer.
8. You can choose to transfer funds directly to the recipient’s bank account or via mobile payment platforms like Alipay.

Wise’s interface is clear and straightforward, with detailed instructions for each step. Even first-time users can quickly get started.

Tip: Prepare photos of your identity documents in advance during verification to save time.

Multi-Currency Management

Wise’s multi-currency account allows you to easily manage over 40 currencies. You can open and hold multiple currency balances for free without worrying about maintenance fees or minimum balance requirements. You can fund your account via bank transfer, credit card, debit card, or other methods. You can also manage local receiving account details, facilitating collections in different countries.

Wise supports instant currency conversion. Select the currency and amount, and the system displays the mid-market exchange rate and fees. You can also set automatic conversions, with the system completing the exchange when the target rate is reached. All operations can be completed via the Wise app or website, making it highly convenient.

• Wise’s multi-currency account supports physical and virtual cards, ideal for frequent multi-currency transactions, online shopping, and travel.
• You can check real-time exchange rates anytime, optimizing fund flow and improving cross-border fund management efficiency.

If you need to send and receive payments across different regions globally, Wise’s multi-currency account and flexible conversion features make cross-border life easier.

User Recommendations

Users Suitable for Wise

If you frequently transfer funds between China and Europe, Wise is an ideal choice. Wise supports multi-currency accounts, offers low fees, transparent exchange rates, and fast transfers. Whether you’re an individual or business user, Wise helps you manage foreign currency funds efficiently and save on remittance costs. The following user groups are particularly suited for Wise:

1. Cross-Border E-Commerce Sellers and Trading Companies: You can use Wise to receive payments from European clients or pay suppliers. Wise uses mid-market exchange rates with low fees, enhancing fund turnover efficiency.
2. Individual Users and Overseas Chinese: If you need to send money to family or live/study in Europe, Wise makes sending and receiving payments easy with transparent fees.
3. International Travelers and Shoppers: You can use Wise’s debit card to spend or withdraw in USD, EUR, and other currencies, avoiding exchange rate losses and high fees from traditional channels like Hong Kong banks.
4. Users Needing Multi-Currency Management: Wise allows you to hold over 40 currencies for free, facilitating global sending, receiving, and conversions.

Wise is ideal for users with frequent cross-border remittances, especially those with high demands for fees, transfer speed, and multi-currency management.

Users Suitable for Alipay

If your fund flow needs are primarily between Hong Kong, Macau, and mainland China, Alipay can still meet some of your needs. Alipay currently supports the following user groups:

1. Hong Kong Users: You can use AlipayHK to transfer to bank accounts linked to mainland Alipay accounts, enjoying real-time transfers with zero fees.
2. Macau Users: You can use Alipay (Macau) to transfer MOP to bank cards linked to mainland Alipay accounts, with 24/7 operations and limits based on verification levels.
3. Greater Bay Area Fund Flow Users: If you have consumption or collection needs in Hong Kong, Macau, and mainland China, Alipay offers convenient cross-border remittances and instant currency conversion services.

Note that Alipay has discontinued most cross-border remittance services between China and Europe. If you need to transfer funds from China to Europe, Wise is a more suitable choice.

When choosing a cross-border remittance tool, you can refer to the table below to quickly understand the key differences between Wise and Alipay:

You can weigh fees, speed, and security based on your needs to choose the most suitable remittance method.

FAQ

How Long Does a Wise Transfer to Europe Take?

You can typically receive funds within 2 hours. In most cases, Wise completes transfers within 8 hours. Holidays or peak periods may delay transfers.

Are There Hidden Fees with Wise Transfers?

You won’t encounter hidden fees. Wise displays all fees upfront, including fixed and variable fees based on the amount. You can use the fee calculator to check in advance.

Which Currencies Does Wise Support?

You can manage over 40 currencies, including USD, EUR, GBP, and more. You can send, receive, and convert currencies anytime, ideal for multi-currency needs.

Is Wise Safe?

Your funds are stored separately from Wise’s own funds. Wise is regulated by financial authorities in the UK, US, Singapore, Hong Kong, and more, ensuring high security.

What Are Wise’s Advantages Over Hong Kong Banks?

Wise offers lower fees and more transparent exchange rates. Transfers are typically faster than Hong Kong banks. You can also view rates and fees in real-time, with a more convenient operation.

This article provides an in-depth analysis for Chinese users on the pros and cons of Wise and Alipay for cross-border remittances from China to Europe in 2025. It offers a detailed comparison across multiple dimensions, including fees, transfer speed, security, and ease of use. The article clearly points out that Wise, with its transparent fees, low exchange rates, fast transfers, and multi-country regulatory compliance, has become the preferred tool for cross-border remittances from China to Europe. It also notes that Alipay’s cross-border remittance services have been significantly scaled back, primarily serving users in the Hong Kong and Macau regions.

However, despite the detailed content of the article, a core challenge for many Chinese investors remains: the flow of cross-border funds. Traditional funding methods, such as international bank wire transfers, are not only complex and time-consuming but also come with high fees and opaque exchange rate spreads. These issues can directly impact investment returns and increase transaction costs.

BiyaPay was created to solve these cross-border financial pain points. We offer a smoother, more cost-effective channel for your investments. We support the conversion between various fiat and digital currencies, allowing you to easily manage global assets, and provide a real-time exchange rate query feature to ensure you always get the best rates. What’s more, our remittance fees are as low as 0.5% with same-day delivery, significantly cutting down your transaction costs and time.

Now, you don’t need a complex overseas account to invest in both U.S. and Hong Kong stocks on one platform. Say goodbye to the hassle of cross-border payments and start your efficient financial journey. Register with BiyaPay today to make fund management as smooth as trading.