Bank of China, in partnership with J.P. Morgan, recently completed the world's first real-time personal cross-border remittance transaction between China and the United States. The entire process, from initiation by a BOC customer to the crediting of funds to an account at J.P. Morgan, took less than one minute, enabling real-time delivery across time zones. To date, BOC has enabled real-time connectivity for personal cross-border remittances in the US, the UK, Australia, and Spain.

As BOC's new product for personal cross-border remittances, BOC Instant Remittance represents a comprehensive upgrade designed to address industry challenges, including cumbersome procedures and uncertain arrival times.

It eliminates the traditional wait of two to three business days for funds to arrive. Through direct connectivity with major global financial institutions, individual customers can initiate transactions 24/7, ensuring that funds are credited across borders in a timely manner.

Leveraging intelligent processing, the service enables a fully automated process with zero manual intervention, significantly improving clearing efficiency.

Every step of the transaction is transparent and traceable, with no deductions by intermediary banks. This gives customers a predictable, transparent, and cost‑effective cross‑border payment experience.

J.P. Morgan, headquartered in New York, is a global financial services firm and the exclusive banking partner for BOC's instant remittance service in the US market. BOC will leverage its cross-border financial expertise, drive transformation in cross-border payments through technological innovation, and steadily expand the overseas partner network for its instant remittance service. BOC will continue to provide customers worldwide with a more efficient, secure, convenient, and transparent cross-border financial experience.