You can now send CNY directly to local bank accounts in China using Grey.
Here’s a step-by-step guide on how to send CNY to a local bank account in China:
Log in to your Grey account.
From your home screen, select Send.
You can choose a saved beneficiary or a recent recipient. If you want to send to a new recipient, select "More"
Search the currency you want to send, "CNY"
Tap on the Blue button "Add CNY recipient"
Select "send via bank transfer"
Fill in the recipient account details. Please ensure the details are correct
Review the recipient details. Make sure all details are correct. Click "Continue"
Complete withdrawals using your 2FA code/PIN.
Bank transfers are typically completed within 24 hours from Monday to Friday, subject to a cutoff time of 10:00 GMT
The withdrawal fee is $2.8 per transaction.
The transfer limit is a minimum of 50 CNY and a maximum of 21,000 CNY per transaction.