TransferWise now permits customers to send money to China UnionPay bank accounts from 14 currencies including the US dollar, euro and British pound. Photo: Reuters

UK-based TransferWise challenges banks by allowing money transfers to China for just 1.5 per cent fee

Company expects 50 million overseas Chinese to send money back home ahead of February festive season, plans to launch transfers out of Hong Kong later this year

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TransferWise now permits customers to send money to China UnionPay bank accounts from 14 currencies including the US dollar, euro and British pound. Photo: Reuters
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