Renminbi Amount Locked in Your Remittance
- From now on, individual customers may remit US dollars with Renminbi Settlement in advance to other individual in Mainland China by using Telegraphic Transfer
- Renminbi exchange rate is locked at the time of remittance
- Payee will receive fixed amount Renminbi in China
- It is an individual to individual remittance
- Each RMB Remittance shall not exceed USD50,000
Note: RMB Remittance application is irrevocable and is in USD only. Remittance is limited to telegraphic
There will be exchange rates or other loss if remittance returned due to incorrect recipient’s
information provided or other situation out of our control. Bank of China, New York also provides
this service to those individuals or banks who currently don’t have account relationship with us.
All SWIFT/CHIPS/Fedwire formats are acceptable. Before the service begins, remitter’s bank or
its correspondent bank needs to sign a service agreement with us.
For details, please contact New York Branch or Chinatown Branch.