Product Overview

Domestic RMB remittance to corporate account refers to the intra-bank and inter-bank remittance business in which the corporate client entrusts domestic Bank of China branches to initiate (receive) a certain amount of RMB remittance to (from) other domestic institutions. 

Application Procedure

The client needs to have a BOC corporate RMB bank settlement account. The domestic RMB remittance business to corporate clients through physical BOC branch counters is handled as follows:

The remitter fills in the application form for the RMB settlement business and affixes the seal or signature reserved by the bank. A password for the remitter's account should be provided if needed.

The authorized representative or business agent of the corporate client presents a valid ID card.

After checking the materials, BOC remits the money to the receiving bank.

The receiving bank remits the money to the payee's account.

The RMB remittance businesses through BOC enterprise online banking, the BOC mobile banking app, smart counters or intensive operation platforms are handled based on requirements on channel identity verification and management and transaction timeliness.

Notes

The information in the application form for RMB settlement business must be accurate and the remitter’s account must maintain a sufficient balance.

For domestic inter-bank RMB remittances, if the remitting bank is not BOC, the arriving time cannot be guaranteed.