How to Pay Chinese Suppliers in RMB from the Philippines
You've found your supplier and agreed a price. Now you have to actually pay them — and this is where a surprising amount of margin quietly disappears.
Why bank wires cost more than you think
A typical international wire to China carries an outbound fee from your Philippine bank, correspondent bank charges in between, a receiving fee on the supplier's side, and — the expensive one — an unfavourable exchange rate spread. Add 2–5 business days.
The headline “transfer fee” is rarely the real cost. The exchange rate is.
Why suppliers prefer RMB
Most Chinese suppliers quote in RMB and want to receive RMB. When you pay in USD, they absorb a conversion, and many quietly price that risk into your quote. Paying in their local currency often gets you a better price and a smoother relationship.
How Angkat's RMB service works
- Send us the details — message us on Facebook Messenger or Instagram with the total RMB amount and the receiving account (bank name, branch, account name, account number).
- We quote you — based on our current RMB–PHP rate. Rates move daily, so quotes are time-sensitive.
- You transfer PHP — to our accounts, then send the deposit slip for verification.
- We remit within 1–3 banking days — and send you the RMB deposit slip as proof.
What it costs
No extra or hidden fees. The conversion uses our current RMB–PHP exchange rate at the time of your request — that's the whole cost. No wire fees, no correspondent charges.
Importers save up to 10% versus conventional bank transfers, mostly from the exchange rate rather than the fees.
Getting the details right
Chinese bank transfers are unforgiving about mismatches. Before you send:
- The account name must exactly match the supplier's registered bank account
- Confirm the bank branch — Chinese banks are branch-specific
- Double-check the account number, character by character
- Ask your supplier to confirm receipt
A practical safeguard
For a first order with a new supplier, consider paying a deposit rather than the full amount, with the balance on confirmed shipment. Most legitimate suppliers accept this. One that insists on 100% upfront from a first-time buyer deserves a second look.
Related reading
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