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Inward Remittance


 

Product Name

Inward Remittance

Product Description

Inward remittance service enables our customers to remit money from any parts of the world to the beneficiary’s account in Canada by Telegraphic Transfers or Demand Draft.

Features

Telegraphic Transfers (Wire Transfers)

Your funds can be remitted into the designated Bank of China (Canada) domestic account safely and efficiently from all the banks around the world without any limit amount. After deducting an inward remittance fee, the money will be directly deposited into the beneficiary’s bank account at Bank of China (Canada). The remitter should provide the following information to the bank:

1.Name of the Beneficiary's Paying Bank: BANK OF CHINA (CANADA), XXXX BRANCH

2.Beneficiary's Bank SWIFT code: BKCHCATT

3. Beneficiary Account Number: XXXXXXXX

4.Beneficiary's Name: XXX

5.Beneficiary's Address: XXX

Encashment of BOC Demand Draft

This type of bank draft is issued by Bank of China branches in China. It is a remittance option which the holder of the bank draft is usually the beneficiary himself or herself.

The demand draft can be encoded (charge for CAD25.00)or credited at Bank of China (Canada) branches(free of charge). The name of the beneficiary is printed on the demand draft such that the risk involved in losing the demand draft is minimized.

Target customers

It is applicable to all customers with valid identity documents.

Process

Customer can go to any branches in Bank of China (Canada) to deposit to your BOCC account or get an encoding for the demand draft with two pieces of valid identity documents.

Required Identity Documents

Original passport, Permanent Residential Card, Citizenship Card or Driver License, etc. 

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