RMB Clearing & Settlement

With over 1,400 RMB clearing accounts with correspondent banks worldwide, Bank of China is a global leader in RMB clearing.

INTRODUCTION

Bank of China is one of the two designated RMB Clearing Banks operating in the U.S., providing real-time settlement services for cross-border remittances and offshore clearing settlements. Supported by our extensive global network in more than 61 countries and our rich experience from self-clearing more than 30+ currencies globally, our New York branch offers 24-hour multilingual customer service for personal, corporate, and institutional customers

Key Features

Designated RMB clearing bank: We are the designated RMB clearing bank in 13 out of 25 offshore RMB centers worldwide: U.S., Hong Kong, Macau, China Taiwan, Germany, France, Australia, Malaysia, Hungary, South Africa, Zambia, Japan and the Philippines.
Extensive network: Our extensive network across Greater China makes BOC U.S.A. the go-to bank for access to the world’s second largest economy.
Consultancy approach: Leveraging our unique consultancy approach and unparalleled insights on China, BOC U.S.A. is able to guide clients through complex Chinese regulations.

Eligible Financial Institutions

Financial Institutions that hold onshore or offshore Chinese Yuan Renminbi (CNY or CNH) accounts with BOC U.S.A.’s New York branch.