Smart Cross-Border Payments with Wise: A Complete Guide for Side Hustlers

“Smart Payments Start with Wise” — The Ultimate Guide for Cross-Border Side Hustle & Global Income

Arthur has previously written many guides on opening Hong Kong bank accounts. But since we are aiming for a cloud resident lifestyle, this time let’s talk about other channels, beyond HK bank cards, that allow us to receive overseas income.

For those who follow Arthur closely, you know I don’t really recommend using HK bank cards to receive international income. Why? Because it’s too easy to trigger account reviews and risk sudden account closure.

So, if we want a reliable way to secure our financial foundation as cloud residents, we must prepare ahead. Otherwise, what’s the point of earning money if we can’t even receive it?

If you are still struggling with cross-border payments, frustrated by slow withdrawals, high fees, and delays—then this guide is for you.

Wise (formerly TransferWise) is currently one of the best solutions for Mainland Chinese users doing cross-border side hustles. It offers free application, multi-currency accounts, instant transfers, the lowest fees worldwide, and 0 annual fee virtual accounts + debit cards. Truly a must-have tool for cross-border income.

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1. What Makes Wise So Good?

1.1 Free Multi-Currency Accounts (50+ currencies)

Wise supports more than 50 currencies worldwide. From major ones like USD, EUR, GBP, AUD, CNY, to smaller currencies like the Bulgarian Lev—almost everything is covered.

Even HSBC One in Hong Kong only supports 12 currencies. Wise far surpasses that.

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1.2 Local Receiving Accounts (USD/EUR/GBP, etc.)

If you’re receiving money from the US, simply share your Wise USD account. The sender won’t need to use international wire or SWIFT, just a local transfer.

That means faster, cheaper, and much less hassle.

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1.3 Super Low Fees (From 0.4%) + Real-Time Exchange Rates

Wise charges cross-currency transfer fees as low as 0.4%, and money usually arrives within seconds.

Compared to traditional banking, there’s no need to exchange currency separately before sending. Everything is automatic.

China’s “Cross-Border PayLink” also offers instant transfers, but it only supports CNY ↔ HKD, while Wise covers dozens of currencies.

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1.4 Free Virtual Card + Debit Card

(⚠️ Note: Mainland Chinese users currently cannot apply for Wise cards.)

Some users try to bypass this by using overseas addresses, but for long-term use, this is risky. If you just want to collect cards, feel free—but don’t rely on this method for serious finances.

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1.5 Supports Alipay/WeChat/UnionPay for CNY Withdrawals

Wise allows you to transfer CNY directly to Alipay or WeChat Pay.

⚠️ But keep in mind: there are annual transfer limits for Alipay/WeChat withdrawals. Wise will clearly show these caps.

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2. Wise Account Types

Account Type	Features	Suitable For
Personal	Multi-currency balance + virtual/debit card + cross-border transfer	Freelancers, digital creators, e-commerce sellers
Business	Corporate account + bulk payments + API integration	Teams, shops, enterprises

For most of us, a personal account is enough. Business accounts are harder to open (require a business license, etc.).

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3. How to Apply for a Wise Account (Latest Guide)

3.1 Registration Link

👉 Wise Official Website

3.2 Sign Up as a Personal Account

• Click Register (top-right).
• Enter your email.
• Verify via email link.
• Select Personal Account, set residence as China.
• Provide your Mainland China phone number (avoid using overseas numbers).
• Create a password.

3.3 Identity Verification (KYC)

• Upload ID card or passport.
• Take a selfie.
• State expected annual transfer volume (e.g., under 19,500 CNY).
• Approval usually takes less than 1 minute.

⚠️ Note: Mainland users cannot use Wise debit/virtual cards and cannot access investment features.

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4. How to Top Up from China

• CNY Deposit: via Alipay or manual bank transfer (Alipay has higher fees).
• HK FPS Deposit: free if you already have a Hong Kong account.
• USD Deposit: requires proof of address for full access.

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5. Receiving International Payments

You can directly use your Wise local accounts (e.g., USD, EUR, GBP) to receive overseas income.

Example: Freelance clients in the US can pay you via ACH to your Wise USD account—no wire fees, no delays.

(👉 Detailed USD account tutorial will be shared separately.)

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6. Wise FAQ

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Final Thoughts

If you urgently need a cross-border payment solution, I strongly recommend opening a Wise account now. Mainland Chinese ID is enough to register.

Even if you only plan to expand into side hustles later, having a Wise account ready ensures you won’t miss out when the time comes.

👉 Open Your Wise Account Today

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