***Should there be any inconsistency between Chinese and English version, the Chinese version shall prevail.***
☆ Introduction
Pre-settlement Remittance is a special service that allows a remitter to remit non-CNY funds to an account in mainland China; a beneficiary will receive the funds in CNY directly in Mainland China. The non-CNY currency will be converted into the equivalent amount of CNY according the exchange rates set by the ICBC Head Office. Then the remitter will be informed of remittance. If remitter agrees, the certain amount of non-CNY currency will be remitted to the bank of the beneficiary in mainland China. The bank will then pay the beneficiary directly according to the payment instruction signed by ICBC Macau.
☆ Regions of Remittance
Mainland China
☆ Applicable Targets
Customers who intend to convert non-CNY into CNY and remit it to China Mainland residents’ accounts.
☆ Features
1.Preferential charges.
2.Beneficiary could receive payment on the same day if system goes smoothly.
3.A new CNY account is not required for remitter and no currency exchange is needed before remitting.
4.Funds can be directly remitted to the account of the beneficiary who is free from the “Personal Foreign Exchange Declaration” procedure.
5.The exchange risk can be reduced effectively as the exchange rate can be fixed.
☆ Service Charge
1.Applicant will be charged HKD90 for each transaction if Pre-settlement Remittance is handled at the counter of ICBC Macau.
2.Applicant will be charged HKD60 for each transaction if Pre-settlement Remittance is handled through online banking and mobile banking.
☆Business Hours
1.Apply at branches: Monday to Friday (Business time only)
2.Apply through E-banking: hours
For Pre-settlement remittance handled through online banking or mobile banking, the arrival time of payment may be postponed on holidays.
☆ Application locations
Applications can be submitted through online banking and mobile banking, and in all ICBC Macau branches.
☆ Reminders
1.Beneficiaries are limited to the citizens from mainland China.
2.The remittance will take up the annual limit of USD50,000 (about HKD380,000 HKD).