In Hungary this is a special international outgoing remittance service which can only be supplied by the bank.

The regulation of this service is as follows:

1. “Settled conversion rate EUR/USD remittances” is only provided to private customers who need to remit EUR or USD to private persons who have a valid China mainland citizen ID.

2. The remitter needs to declare the resource and purpose of the money remitted.

3. The urgent remittance service should be used.

4. The remitter should bear all the remitting fees and costs including the correspondent bank’s fee.

5. The beneficiary should have a CNY current account with a BOC P.R.C. mainland branch or sub-branch.

6. The remittance will be refunded back to the remitter if the payee has received remittance over USD50,000.00 or the equivalent amount in other currencies during the year.

With this service, the beneficiary will receive CNY directly and needs not to apply for changing EUR or USD into CNY at the counters of receiving bank in person.

For paper-based transfer instructions, the holder or the authorized person of the account applies at the counter of the bank in person with valid identity documents, or the account holder applies by sending a fax if he/she has signed a fax business contract. The Customer may handle outward USD remittance with Settled CNY conversion rate through NetBank.