WAECL Money Transfer Service is provided by WAECL, aiming at easing troubles for international students in terms of paying their tuition fee, accommodation fee and living expenses. Our service contains:
1. Funds Upload Service: Overseas students could upload funds to their personal WAECL e-wallet (unlimited transaction available).
2. Funds Withdrawal Service: Overseas students could transfer money from personal WAECL e-wallet to bank account opened in China, or withdraw cash directly (unlimited transaction available).
1. Transaction currency will be USD when uploading, and will be saved in RMB (i.e.CNY). That is, you need to pay by USD when uploading funds, after the payment is made, WAECL system will automatically exchange the amount of USD into RMB (i.e.CNY) due to real-time exchange rate.
2. WAECL only provide withdrawal in RMB (i.e.CNY), and money can be only transferred to your own China’s bank account. Other currencies are not available and transactions to user’s foreign bank account are also not available.
3. After transactions to WAECL e-wallet is completed, if you need to cancel, a processing fee (5% of the total amount) will be charged and deducted directly by the third party of payment or your bank.
4. No service fee will be charged by using WAECL Money Transfer Service. WAECL only takes a role as a medium. Processing fee (5% of the total amount) when uploading funds is directly charged and deducted by the third party of payment or the bank.
5. WAECL Money Transfer Service only accepts funds uploaded from Paypal now.
1. WAECL Money Transfer Service is provided through the third party payment platform Paypal (>>Learn more about Paypal), and WAECL is willing to accept Paypal’s arbitration, which means if you do not satisfy with WAECL’s service, you can apply for a withdrawal request to Paypal, and after Paypal’s verification, WAECL will refund all the amount of money to your account.
2. In order to secure your funds, WAECL requires that you can only transfer money from your WAECL e-wallet to your bank account opened in China.
3. Full cost of fund lose will be paid by WAECL unconditionally.
1. WAECL has set up a 24hrs hotline for Money Transfer Service. This hotline is available for 7*24.
2. WAECL will complete the transaction within one working day after withdrawal request is made.
NB: In order to ensure the service quality, WAECL suggests to transfer money to your WAECL e-wallet at least one week before the starting date. Withdrawal request is suggested to be made at least three days in advance.
How to Apply
2.After you have logged in WAECL, move the cursor to the icon on the top of navigation bar, then you will find the menu and the option for money transfer service.
3: Then you will find the “Upload Funds” button at the right side of the page, by clicking that button, you can add funds to your account and start the money transfer service.
Tips: When you want to withdraw your money, you can do it here as well.