Product Overview

Foreign exchange settlement and sales involves services provided by banks to exchange renminbi and foreign currencies for clients. The bank and client agree on the details, including the direction of the exchange (buy or sell), the currency, the amount, and the settlement date. If the settlement date is within two business days after the transaction date, it is considered a spot foreign exchange settlement and sales transaction. Foreign exchange settlement refers to the bank purchasing the client’s foreign currency and paying the corresponding amount in RMB, while foreign exchange sales involve the bank selling foreign currency to the client and receiving the corresponding amount in RMB.

Product Features

The service offers diverse sales channels, facilitating clients' immediate exchange needs between RMB and various foreign currencies.

Applicable Clients

The service is suitable for domestic individuals, corporate clients with genuine exchange needs between RMB and foreign currencies, and other clients approved by the State Administration of Foreign Exchange (SAFE).

BOC Advantages

BOC is a market maker for all currencies in the interbank RMB foreign exchange market and has been named the "Excellent RMB Forex Market Maker" by the China Foreign Exchange Trade System for multiple consecutive years.

BOC provides a comprehensive range of currencies for spot settlement and sales, covering major global currencies like the US dollar, Euro, and Japanese yen, as well as emerging market currencies like the South African rand and Thai baht, meeting clients' diverse transaction needs.

BOC offers multiple channels for spot settlement and sales, including branch counters, online banking, mobile banking, and corporate electronic trading platforms, providing clients with efficient and convenient services.

Application Requirements

Conducting spot settlement and sales business must adhere to the principle of genuine demand and comply with the relevant management regulations of SAFE.