1. Product Definition
The outward remittance refers to the service that the Bank, under the entrustment of a customer, forwards funds denominated in foreign currency to the bank account of the payee designated by the remitter through our intermediary bank abroad.
2. Service Advantages
As a member of the Society for Worldwide Inter-bank Financial Telecommunication (SWIFT), the Bank has opened accounts of various foreign currencies such as USD, HKD, JPY, EUR, SGD, CAD, CHF, AUD and GBP, so payees can receive funds easily and quickly.
3. Applicable Scope
Customers choosing settlement by way of remittance.
4. Business Procedures
(1) The remitter submits the “Application for Outward Remittance” to the Bank together with relevant documents and vouchers for outward payment in foreign exchange required by the Bank, as well as withdrawal voucher of exchange account, or RMB check for exchange purchase;
(2) After examination, the Bank sends the telegraph of remittance instruction to the foreign correspondent bank;
(3) The foreign correspondent bank pays the remittance to the payee according to the instruction of the Bank.
Please call our customer service hotline 95561 or contact local branches to conduct this business, and you will be reached by our staff.TOP