Industrial and Commercial Bank of China implements the annual total management of individual foreign exchange settlement and domestic individual foreign exchange purchase, and the annual total is equivalent to 50,000 US dollars per person per year. The State Administration of Foreign Exchange may adjust the annual total according to the balance of payments.
Processing flow:
1. The current account is handled in the bank with my ID card and relevant certificates of transaction amount.
2. Under the capital account, it shall be handled in accordance with the relevant regulations on capital account management.
I. Precautions for overseas remittance:
1. Online cross-border remittance function is opened by region. Supported currencies: British pound, Hong Kong dollar, US dollar, Swiss franc, Singapore dollar, Swedish krona, Danish krona, Norwegian krona, Japanese yen, Canadian dollar, Australian dollar, euro and New Zealand dollar.
2. The remittance instruction can be submitted from 02: 00 to 22: 30 from Monday to Friday, and the bank will process the remittance instruction in real time from 9: 00 to16: 00 from Monday to Friday. In case of holidays, it will be postponed (instructions will be submitted after Friday 16: 00, and ICBC will start processing at 9: 00 next Monday).
3. The bank deducts the funds in the payment account in real time according to the remittance instruction, and sends the payment information to overseas at 9: 00- 16: 00 from Monday to Friday. The payee's arrival time depends on the overseas payee system.
According to the relevant regulations of the State Administration of Foreign Exchange, the single amount and daily cumulative amount of remittance shall not exceed 50,000 US dollars or equivalent foreign currency. Individuals who are not domestic residents are not allowed to use this function.
5. The remittance account must be a current multi-currency banknote account or remittance account in your online banking registration card, and the remittance fee payment account must be a RMB account in your registration card. When you remit money, you need to use a U shield to digitally sign the remittance instruction.
6. In order to ensure the timely processing of remittance instructions, it is necessary to select the correct receiving bank and region, and input the correct collection information such as collection account number and account name.
7. Please enter the English name of the payer, the name of the payee, remarks and other written information in English letters. Chinese characters are not supported.
8. If there is only foreign currency cash, the system will automatically convert it into RMB according to the exchange rate difference of the bill of the day and collect it from the payment account. The remittance card number and payment card number can be the same account or different accounts.