RMB Pre-settlement Remittance
Product Name
RMB Pre-settlement Remittance
Product Description
RMB pre-settlement remittance refers to a method where customers can exchange foreign currencies they hold into RMB for remittance. The destination is limited to the Chinese mainland, and the recipient is subject to the foreign exchange limit.
Product Features
You can lock in the RMB exchange rate on the day of the remittance, helping to prevent exchange rate fluctuations during the remittance process.
Applicable Customers
Account holders of Bank of China (Canada).
Processing Procedure
Bring two valid identification documents to a relevant Bank of China branch in Canada for processing.
Required Documents
Two personal identification documents are required, one of which shall include a photo, such as a passport, national ID card, permanent resident card, or valid Canadian driver’s license.
Important Notes
1.The recipient’s valid identification number in China is required (either the ID card number, passport number, or military officer’s certificate number).
2.If the payment method is in cash, an appropriate cash handling fee will be charged.
3.Before processing the remittance, please check with the recipient about the available annual foreign exchange quota. If the amount exceeds the recipient’s limit, the remittance will be returned.
