What's the cheapest way to send money from China to India?

Providers that use the mid-market CNY/INR rate with a transparent flat fee (e.g. Wise) almost always beat a bank, which hides its margin in a worse exchange rate. Always compare the amount that actually lands in INR, not the advertised "no fee".

What is the mid-market rate?

The mid-market (interbank) rate is the real midpoint between buy and sell prices for CNY/INR — the rate you see on Google. It carries no margin; the markup is what most banks add on top.

Why does the amount received differ between providers?

Two levers: the exchange rate margin (a hidden % on top of mid-market) and explicit fees. A 3–5% rate margin on a large transfer usually costs far more than a visible flat fee.

China→

India

Send money from China to India (CNY→INR)

The real CNY/INR mid-market rate, what a typical bank's hidden margin costs you, and the cheapest way to move money on this route.

Data signals

The real rate vs the hidden cost

Today's real rate
The mid-market rate is 1 CNY = 11.5385 INR.
Send 1,000 CNY
At the real rate, 1,000 CNY should arrive as about 11,538 INR in India.
The hidden cost
A typical bank or legacy app bakes in a ~4% exchange-rate margin — on this transfer that's roughly 462 INR less than the mid-market rate, before any flat fee.

Worked example

Sending 1,000 CNY

Your amount (CNY):

At the real (mid-market) rate

11,538 INR

Via a typical bank (~4% margin)

11,076 INR

You lose to the spread

462 INR

before flat fees

Illustrative: the ~4% margin is a typical legacy-bank exchange-rate markup, not a quote. Mid-market rate as of 2026-05-28.

How the margin scales

What a ~4% margin costs as you send more

You send	Real rate (mid-market)	Typical bank	You lose
1,000 CNY	11,538 INR	11,076 INR	−462 INR
5,000 CNY	57,692 INR	55,384 INR	−2,308 INR
10,000 CNY	115,385 INR	110,770 INR	−4,615 INR

Step by step

How to send money to India cheaply

Check the live CNY/INR mid-market rate (the one shown above) so you know the fair benchmark.
Compare what actually arrives in INR across providers — not the advertised fee. A specialist using the mid-market rate usually beats a bank's hidden margin.
Confirm the recipient details and any local receiving fees in India, then send; transfers on this route typically settle within 1–2 business days.

Move CNY → INR at the real rate

Some links below are affiliate links — if you sign up we may earn a small commission, at no extra cost to you.

Wise

Move money across borders without losing 3–5% to your bank

Real mid-market FX rates, no hidden spread.

Open a free Wise account →

Wise

A multi-currency account for life across borders

Hold 40+ currencies with local account details in 9 of them, spend anywhere on the Wise card.

Open a free Wise account →

FAQ

What's the cheapest way to send money from China to India?: Providers that use the mid-market CNY/INR rate with a transparent flat fee (e.g. Wise) almost always beat a bank, which hides its margin in a worse exchange rate. Always compare the amount that actually lands in INR, not the advertised "no fee".
What is the mid-market rate?: The mid-market (interbank) rate is the real midpoint between buy and sell prices for CNY/INR — the rate you see on Google. It carries no margin; the markup is what most banks add on top.
Why does the amount received differ between providers?: Two levers: the exchange rate margin (a hidden % on top of mid-market) and explicit fees. A 3–5% rate margin on a large transfer usually costs far more than a visible flat fee.