If you want to receive funds remitted by overseas relatives, you can handle remittance/cross-border remittance settlement business of remittance companies.
Remittance business of remittance companies: At present, the international remittance companies that China Bank cooperates with are Western Union and MoneyPay. It can be handled through the counter of China Bank outlets. I need to provide my valid real-name registration system id specified by the People's Bank of China and the 8-digit payment code of MoneyMoney/ 10 Western Union payment code.
Cross-border payment and receipt business: You can open a tier-1 account at any branch of China Bank, inquire about cross-border payment and receipt information (English name, English address and SWIFT code of the receiving bank) at the branch of China Bank, and provide your account number and cross-border payment and receipt information to the overseas remitter, who will inform the remitter.
Foreign exchange settlement business: you can enjoy a convenient foreign exchange settlement quota equivalent to $50,000 per year, which can be handled directly with valid identity documents. Handling channels include online channels such as personal mobile banking and personal online banking of BOC, as well as outlets and smart counters of BOC business institutions.
For information such as currency and amount restrictions supported by remittance companies, requirements for entrusting others to handle, and handling of over-limit foreign exchange settlement, please consult the local China Bank outlets.
The above contents are for your reference. Please refer to the actual business regulations.
If you have any questions, please contact online customer service of Bank of China.
You are cordially invited to download and use China Bank Mobile Banking APP or China Bank Cross-border GO APP to handle related business.