If you didn’t already know, paying by WeChat in China has quickly overtaken cash as the most common method of payment. If you’re traveling to China, it’s entirely possible to get around using cash…but it’s not always the easiest option. What if there were an easier way to add money to WeChat so you could pay with your phone in China? There is, and you’ve probably never heard of it before.
Using mobile payments as a foreigner in China used to be extremely difficult. Thankfully, that has changed over the past couple years and I now use WeChat for pretty much every payment I make while living here. The only remaining challenge is figuring out how to add money to WeChat.
There are a few different ways that you can add money to WeChat on your phone:
- Link a Chinese Bank Account: Originally, I had to open a bank account in China in order to link my China bank card to my WeChat wallet. It wasn’t a simple process but it makes paying with WeChat easy from that point forward.
- Link a Foreign Credit Card: In late 2017, news broke that it was possible to add a foreign credit card to your WeChat wallet. Great news! The only problem was that you needed to download WeChat in China in order for that to work, meaning you couldn’t set it up before you go. A short while ago, I tried to add a foreign credit card here in China and it didn’t work so well.
- WeChat Balance Transfers: That leaves us with one final option – accepting balance transfers. As a foreign traveler, you can have a friend transfer you money and then use that balance to pay for things.
But how can transfer money if you don’t know anybody in China?
“Sharing Economy” Comes to Currency Exchange
I’ve recently tried out a new process for exchanging currency and adding it to my WeChat account that shows a lot of promise. It’s a service called Swapsy and it could be described as the “Uber for currency exchange”.
It goes something like this:
Swapsy acts as the platform where people who need US Dollars can connect directly with people who need Chinese yuan. They facilitate the connection and also a place that theoretically takes the risk out of such exchanges.
Free Currency Exchange | How to Add Money to WeChat
So let me walk you through how I was able to get a free currency exchange from US dollars to Chinese Yuan. As I mentioned above, I used a service called Swapsy and in a matter of less than 24 hours, I was able to have cash delivered directly to my WeChat account.
*NOTE: At the time of writing, Swapsy was operating under a different brand known as “USYNO”. They have since rebranded, although the process remains the same. The screenshots you see below still reference the USYNO brand, although all the links will point you to the new Swapsy branded website. Just an FYI.
Step 1: Request Desired Amount of RMB
After I’ve set up my account and added my payment methods for both US dollars (via Paypal) and Chinese yuan (WeChat), I simply told Swapsy that I wanted Chinese yuan in the equivalent amount of US$50.
Exchange rates are supposed to be based on the daily market rate. So far it seems fair to me, although you can double-check with online currency exchanges.
Users have a monthly exchange limit of US$12,000 – which is way more than I would ever personally want transferred. But hey, maybe that’s your thing.
Step 2: Choose Payment Accounts for Currency Exchange
Swapsy gives me the option to pay my US dollars using Paypal, Venmo or through direct bank transfer via Zelle. In my case, I chose Paypal and indicated that I would like payment of Chinese yuan to be received via WeChat.
At this point, I make a contractual agreement to pay $50 via Paypal once I’ve been paired with another person for the exchange.
Step 3: Await Pairing & Make Exchange to WeChat
Within 24 hours, I should receive an email telling me that they’ve paired me with another user who needs US dollars and is interested in making an exchange. Thankfully, each time that I’ve used this service, they’ve paired me in less than an hour.
Since I am initiating the exchange, I will pay the US$50 via Paypal (or whichever payment you choose) and then wait for my exchange partner to receive the money, connect with me on WeChat and then transfer the funds in Chinese yuan to my account.
This is the part that requires a bit of trust. Swapsy provides a full amount guarantee, which means that if your exchange partner defaults, they will cover the exchange amount. Thankfully, I’ve never had to make use of that guarantee, but it’s there if you need it.
Step 4: Confirm Receipt of Payment and Spend Your Money!
My exchange partner confirms receipt of the $50 and then connects with me via WeChat. Once I confirm him as a “friend” he or she then transfers the agreed upon amount to me as a balance transfer.
The funds are then transferred to my WeChat balance and are available for immediate use. Even if you as a traveler don’t have a bank account connected to WeChat, you can still hold a balance in your “wallet” and then use WeChat to pay for items as you travel around China.
Conclusion | Simple Currency Exchanges for Travelers
Obviously, this isn’t a long-term solution for somebody who is living in China. However, I’ve discovered that it works very well in a couple different situations:
- You’re a traveler who wants to have money available to use while you’re traveling around China.
- You’re an expat who wants to buy something online but doesn’t have a Chinese bank account yet.
- For whatever reason, you need to convert Chinese yuan to US dollars or vice-a-versa.
In each case, this simple process allows you to make the currency conversion using peer-to-peer technology, making it practically free. Give Swapsy a try for yourself and add money to WeChat!
Thanks for the tip, Josh. Recently I have found amongst my research that you are now required to input your bank card information and your official Chinese is. Is this the case? Does this usyno process bypass that?
I’m not sure about the bank card and official Chinese ID you’re referencing, but I do know that any direct transfer process such as USYNO shouldn’t be affected by that. Whereas there is a process to connect your WeChat account to your bank account, there isn’t a process for your WeChat wallet. You’re automatically given that so that people can send you money person-to-person. Does that make sense?
Thank you for this new research
Hope it doesn’t require ANY nationality or THINgs like that
It shouldn’t! At least not that I know of.
Thank you josh, please can you share with me how you pay seller with your chatpay using USYNO,
Have never use wechat pay before that is I’m asking
Thanks
Is possible this service in euros to yuan?
Yes, it is. In fact, I believe that it is a UK company, so it should be relatively easy.
Hi Josh- thank you so much for all this great info esp the wechat and swapsy. I have a wechat acct here in usa. i plan to go to beijing, shanghai and few other places in jul 2018. i will change my apple x sim card over at airport in beijing. will my wechat acct be the same? do i need another wechat acct in china? should i wait until i am in china to transfer paypal to wechat via swapsy? or do this here in usa? grateful for your thoughts.
Yes, your WeChat account will work in China. If it’s possible for you to add your US credit card or any credits to your account prior to arrival in China, I’d recommend giving that a try. Otherwise, you should be fine just arriving in China and getting a new SIM card. 🙂
This suggestion is great! I was skeptical at first, but I did some research into the company including it’s backers and founder. It’s a small company for sure, but they seem to be doing things right. I completed my first swap today. The match took around 6 hours and the swap was completed just minutes later. I now have some money in my WeChat wallet which will be great to buy things when I visit China this summer!
Thanks! Glad you were able to successfully use the service.
Josh, will this solve my prolem then of not finding a wechat wallet in my app? I understand that the app if downloaded stateside it will not include the wallet option. Therefore a red envelope is what is suggesTed. But i dont know anyone in china for that option. Traveling to china in 2 days… help!
Hi Evelyn, unfortunately WeChat isn’t very open about these policies and they seem to change it all the time. I can’t say for certain either way at this point.
Hi,
This method worked for me up to 1000 yuan. After that it said I needed two credit cards and an identification. I’m not sure how to provide that do you have any thoughts?
Will it not accept your foreign credit cards?
the swapsy need to verify us id… so it just only for american?
any other similar site for international registered, thanks!
Honestly I’m not sure. Since I’m American, I didn’t ask. You should contact their support to find out.
I signed up with swapsy; they require a US ID before I can trade any amount.
Does anyone know of any alternatives?
Hello,
Thank you for sharing. It helped a lot.
Do you know any alternative to SWAPSY because it is only for USA USERS?
I’m sorry, at this point I don’t.
Hi – thanks For the Tip, it sounds like the perfect process for me to use wechat on an upcoming holiday in china…. except that im a uk not us ciTizen ans swappSY seems only verIfy usa passports etc. Do you know if there are other services like swappsy that i could use from the uk in the same way? Cheers.
Unfortunately at this time I’m not aware of any UK alternatives.
This eventually worked for me – thanks for the tip!
But initially, my wechat “Receive Money” QR Code (even after rEal name verification with a us credit card) did not work. my swapsy partner had to reTurn the funds to paypal! A Hassle for both of us.
I recommend first verifying your wallet is working as suggested by others either by havIng a frIend give you a token amount, or – as i diD – have a vendoR give you change from a cash Purchace to yoUr wechat wallet. Also, bE sure its the receive money qr code you upload tO swapsy, not your Wechat id qr code.
Thanks for the info! Just curious, ive been living in Shenzhen about 3 years niw and have always had a hassle with Transferring miney back to the states, this seems like a great option to do a monthly transfer from my wechat to my paypal in AMERICA… Is it too good to be true?
😂
It’s definitely possible, although there are limits to how much you can send each time. Give it a try!
How can I even set up Wechat Wallet in the first place without a bank card? My friend sent me a hongbao, and WeChat said I needed to finish ‘real-name verification’ to do anything. The only two options are mainland ID or mainland bank account. What am I missing here?
You’re not missing anything – it’s going to be very hard for you to open a WeChat Wallet right now. WeChat is hard to use for people outside of China, precisely because of the real-name verification.
Hi Josh,
I’m stressed. Our son is attending college in CheNgdu. He lost his ATM, B of A. He then had his only credit card retained by an ATM machine. I sent funds WU, but its down today. He is broke, no money. How do i swap, send money to his weChat? please let me know. Thank you for all of tHe tips.
I Can send his wechat id in email.
Hi Cynthia, I have no doubt your son has classmates and teachers that can help him until you’re able to get him set up again. For Swapsy, you’re going to need to have your son get everything set up, not you.
Hi Josh, i’ve been to China about a dozen times and have used wechat to Talk to my friends for many years.
This past sept. 2018, i tried to set up a china bank account. After Working with my local chinese friend To set up a bank account and 4 different banks later, china will not permit foreigners who are not permanEnt residents to hold a chineSe bank account.
I was able to verify my wechat account using my us debit card to receive hongbaO and money transfers, but i’m unable to fund my own wechat balance from My own debit card from the us.
Therefore, i must transfer usd using my us bank account to a chinese friend in china. She will receive rmb and will fund my wechat account in rmb using wechat transfer And/or hongbao.
Regards,
Chris k.
Thanks for the update, Chris. It’s so interesting to hear so many different stories across the country. I hear yours often (i.e. “foreigners who aren’t foreign residents can’t open a bank account”) and then I hear others (i.e. “I was persistent until I found a bank that let me open an account”).
I think what’s annoying is that there’s no firm answer – no “universal Chinese policy” that we can point to. It seems to be all up to the individual banks. It makes things very confusing.
is it safe to use this ?
What are your worries?
Hello, I Successfully open wechat pay and link my visa card. If i successfully use swapsy to add money to my wechat, does it mean i can send red packets to my friends? Please help thank you
Does this also work with alipay?
Great question, Oscar. Yes, it also works for Alipay.
Hi,
I have a wechat account set up. I’m from the USA. I can’t seem to set up a wechat wallet or keep money in my wechat account. In the past, i’ve had my friend sent me “red envelope”, but I can’t receive the red envelope. I don’t even see an option to fund my wechat account. I travel to china often, but I am having a hard time to fund my wechat account.
It is not possible for me to open a chinese bank account(i’ve tried).
Can someone please recommend me a solution? Thanks so much.
John
Hi John, I suggest trying to add your foreign credit card in order to satisfy the “real name authentication” WeChat has for its Wallet feature. Once you do that, you should be able to receive envelopes or use the Swapsy option mentioned here.
Hi!
My transaction was denied recently by using Zelle because I dont have a chinese bank account. Has this ever happened to you or anyone you know? I’m waiting on a response as to how to get my money back.