Business introduction

Inward remittance: the foreign exchange inward remittance with individual as the payee.

Outward remittance: refers to the business that the client hand over an mount to the bank and entrust the bank to remit the amount to the overseas payee. Individual foreign exchange outward remittance shall be made mainly by telegraphic transfer.

Serving function

1. Foreign exchange remittance apply to the international and domestic settlement of various kinds of payment and business.

2. Relative to cash settlement, bank transfer is low in cost, fast in speed, safe and convenient.

Business process

Inward remittance: once receiving the remittance advice message from the depository bank, inward remittance shall be paid and entered into account or settled after reviewing and approving.

Payment of inward remittance: the bank shall carry out the relative procedures for the client according to the related regulations of the State Administration of Foreign Exchange.

Outward remittance: when conducting outward remittance, the client shall fill in the remittance application form in English. The following information shall be provided:  currencies and amount of the remittance; name and address of the payee; the payee’s account No. with the opening bank; name and address of the payee’s opening bank.

The remittance application is the basic reference to handle outward remittance by our bank, which shall be filled in completely and accurately in a clear hand.

Characters of our bank

The individual inward remittance business of our bank provide receipt advice service.

Our bank has a broad agent bank network and sound overseas depository bank relationship, with direct outward remittance channels and high efficient and convenient exchange collection.

Kindly reminder

1. The domestic individual foreign exchange remitted abroad for payment of current items shall be dealt with according to the following provisions:

If the accumulative total of foreign exchange remitted abroad per day from a foreign exchange saving account is below the equivalent of 50,000 US dollars (including 50,000), it shall be handled at the bank with valid personal identification paper; the remittance higher than the above-mentioned amount shall be handled with the proof of authenticity of the sum of the business transactions under current items.

If the accumulative total of foreign exchange cash remitted abroad per day is below the equivalent of 10,000 US dollars (including 10,000), it shall be handled at the bank with valid personal identification card; the remittance higher than the above-mentioned amount shall be handled with the proof of authenticity of the sum of the business transactions under current items, or the “Declaration Form for Entry Passenger’s Baggage of the Customs of the People’s Republic of China ” or the foreign currency cash extraction document of his original deposit bank.

2. Outward remittance of overseas individual foreign exchange under current items shall be handled at our bank according to the following provisions:

If the accumulative total of foreign exchange cash remitted abroad per day is below the equivalent of 10,000 US dollars (including 10,000), it shall be handled at the bank with valid personal identification card; the remittance higher than the above-mentioned amount shall be handled with  the “Declaration Form for Entry Passenger’s Baggage of the Customs of the People’s Republic of China ” or the foreign currency cash extraction document of his original deposit bank.

3. The outward remittance of domestic individual and overseas individual foreign exchange under capital items shall be handled through the relative systems of the Administration of Foreign Exchange.