Taking advantage of the inter-bank transfer and clearing network, the bank forwards, at the entrustment of the remitter, money to the beneficiary with appropriate payment certificates.

The remittance may be divided into inward remittance and outward remittance in terms of the direction of funds movement, or telegraphic transfer (T/T), mail transfer (M/T) and demand draft (D/D) in terms of the remitting manner.

T/T is safe and quick, but costs more. M/T is relatively cheaper, but rather slow. D/D is more suitable to the payment-against-goods trade.

Inward Remittance

Introduction

The bank accepts the remittance from the remitting bank and credits to the nominated payee.

Features

•  In accordance with the principles of "crediting upon receipt" and "crediting to the nominated beneficiary".

•  Crediting directly to its settlement account with us for corporate payee, and against his/her valid ID certificate for individual payee.

Handling Guide

Upon the receipt of the remittance position or the endorsed bank draft drawn on the bank, the bank will credits the funds to the beneficiary in compliance with relevant regulations of the administrative department of foreign exchange.

Outward Remittance

Introduction

The bank forwards funds denominated in foreign currency to the nominated bank account of the beneficiary through our account bank abroad.

Advantages of the Bank

•  Be a member of the Society for Worldwide Inter-bank Financial Telecommunication (SWIFT).

•  Maintain foreign currency accounts overseas that are of various currencies, such as USD, HKD, JPY, SGD, CAD, CHF, AUD, GBP, etc..

Handling Guide

To settle foreign exchange payment arising from importation, corporate clients that are on the SAFE's list of import units can file an application with the completed Application Form, the Verification Form for Foreign Exchange Payment and the International Payment Declaration Form.