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Remittance Services |
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Bank of Communications sincerely provides you with great diversity and most convenient of remittance services, fulfilling your personal needs
Remittance Services
By means of your account number and account name, you may ask remitters to pay into your account with us via either Fast Receive, Telegraphic Transfer or Demand Draft. With our worldwide correspondent banks network, we offer you a full array of remittance services. You can select to use "Fast Transfer", "Telegraphic Transfer" or "Demand Draft" to remit your payments. It is convenient - You can just reach one of our branches or sub-branches and fill in a remittance application form.
Features
- Fast receive
- Telegraphic Transfer
- Demand Draft
Product Feature
Inward Remittance
Fast receive
When we receive payment instructions from our Mainland branches through our internal business network, funds will be credited to your account immediately after verification. (Friendly Reminder: The remitter of Fast Receive should be a company that maintains an account with one of our Mainland branches.)
Telegraphic Transfer
When we receive funds from the remitting bank and their valid T/T payment order, upon verification, we will deposit the amount into the instructed account on the value date. We shall then send a credit advice to you for your record. (Friendly Reminder: It will be more safe and reliable to remit funds by T/T)
Demand Draft
We also provide demand draft deposit service. If you receive demand drafts payable to yourself that are drawn on us, you may deposit them into your account. Upon verification, we will pay the amount into your account.
Outward Remittance
Fast Transfer
Our customers can remit funds by Fast Transfer to a company's account with our Mainland branches. Payment instructions which comply with the requirements of Fast Transfer will be sent through our internal business network. After verification based on the Foreign Exchange Regulations Policy and the beneficiary's information, funds will be transferred immediately (Friendly Reminder: Handling charge for Fast Transfer is lower and faster than that of T/T)
Cutoff Time for Fast Transfer:
Monday to Friday : 2:00PM
Saturday & Mainland Holidays : No Services
Requirements of Fast Transfer:
- Both of the beneficiary and remitter should maintain an account with our local branch or sub-branches and one of our Mainland branches;
- The beneficiary should be a company ;
- The beneficiary's account number should be 21 digit;
- Remittance currency should be either HKD, USD, EUR or JPY.
Telegraphic Transfer
By means of SWIFT (Society for Worldwide Interbank Financial Telecommunications), electronic means or telex, funds will be transferred swiftly and safely through our mainland and international branches and correspondence banks network to the paying bank for the beneficiary. (Friendly Reminder: It will be more safe and reliable to remit funds by T/T)
Cutoff Time for T/T Note
Monday to Friday : 4:00PM
Applications received on Mon - Fri after the cutoff time and Sat will be processed on the next working day.
Note:
Cutoff Time for RMB Outward T/T
Monday to Friday: 2:00pm
Saturday & Mainland Holidays: No Service
Cutoff Time for RMB Outward T/T:
Monday to Friday : 2:00PM
Saturday & Mainland Holidays : No Services
Requirements for RMB Outward T/T
- The remitter must have a RMB account with us;
- The remitter and the beneficiary should be in the same name;
- Credit to the Beneficiary's account in the mainland;
- Maximum aggregate amount per person per day: RMB80,000.
Demand Draft
Upon your application, we will issue a demand draft made payable to the beneficiary. Beneficiary can present the demand draft to the paying bank for funds or deposit the demand draft into his/her bank account for collection (Friendly reminder: Handling charge for D/D is lower than that of T/T)
Oversea bank fund transfer and Local bank fund transfer is available in our Internet Banking.
For enquiries, please visit any of our branch and sub-branches or call our customer service hotline.
