Chinese users now can withdraw their paypal USD balances to local bank accounts by wire transfer. PayPal charges $20 for each transaction and wipes off withdrawal limit for verified users as a promotion. Fund transfers will be processed in three to seven days.

To receive funds in USD, PayPal users in mainland China should open a dual shore bank account, and submit the bank’s SWIFT code. Five local banks are available for the service now.

Chinese user can select BEIBAO, a tailored service released by PayPal in mainland China last year, for domestic Renminbi transactions only.