Frequently Asked Questions
Inward Remittance
Inward Remittance Info
You should provide remitter your account info, include:
- Bank Name (e.g Bank of China (Hong Kong) Limited)
- Account Name and Account Number
- Bank of China Hong Kong Limited SWIFT code ( BKCHHKHHXXX)。
Service Charges
Inward Remittance charges please read our Remittance Service Charges Table.
Enquiry
A hardcopy advice will be printed on the following day of the remittance to your account and then mailed to the customer.
For BOCHK client can pre-setup a free E-Alert service, once it is setup, you will receive email alert whenever there is fund deposit to your account.
To find out more, please contact our Remittance Enquiry Hotline +852 2836 8788
Outward Remittance
Remittance Cut-off Time
Cut-off Time (Except for Saturdays and public holidays):
Remittance Channel | Currencies | Branch | Online Banking |
---|---|---|---|
Telegraphic Transfer | CAD、EUR USD、GBP |
17:00 | 18:00 |
AUD、BND、CHF、 DKK、JPY、NOK、 NZD、SEK、ZAR |
17:00 | 18:00 | |
CNY | 15:00 | 16:30 (Remit to the mainland) CNAPS No. required 22:15 (Remit to countries/regions outside Hong Kong) |
|
SGD、THB | 15:00 | 15:30 | |
Non Major Currencies | 17:00 | iGTB NET / iGTB Mobile 18:00 (Not applicable for other online banking) | |
BOC Remittance Plus | HKD、USD | 16:00 | 16:30 |
CNY Remittance
In accordance with the requirements of The People’s Bank of China , corporate customers have to provide the additional information below for CNY Outward Telegraphic Transfer. Otherwise, the payment is liable to be rejected, returned and/or delayed, usually with charges imposed. Corporate client must provide payment purpose such as Cross-border Good Trades, Cross border Service Trade, Cross-border Capital Transfer, Charity Donation, Other account transactions in the “Message to Beneficiary”
When multiple CNY Outward Telegraphic Transfer instructions are related to the same business deal for corporate customers, a “Business Related Reference”, which can be an invoice number, L/C number or other voucher number etc, has to be specified in the beginning of the field “Message to Beneficiary ”in each of the instruction respectively. For details, please refer to the example below.
Example:
When a goods trade (Invoice number: A012345) is divided into two outward telegraphic transfer instructions to the mainland, corporate customers should specify the “Invoice number: A012345” in the beginning of the field “Message to Beneficiary “for each of the payment instruction respectively.
Other Countries/Regions Remittance Requirement:
Destination Countries/Regions | Particular Requirements |
---|---|
Australia | Bank/State/Branch Number (BSB)-6 digits |
The mainland/ Canada /Macau Egypt/Jamaica/South Africa Yeman |
Provide Beneficiary’s Full Address |
China (CNY payment) | Bank Identifier Code (BIC)/SWIFT Code (8-11 characters) |
Europe | Bank Identifier Code (BIC)/SWIFT Code (8-11 characters) International Bank Account Number (IBAN) (up to 34 alphanumeric characters, first 2 character = country/region) |
UK | Sort Code – 6 digits |
USA | ABA / Fedwire Routing No.- 9 digits UID No/ Chips No.- 6 digits |
Online Banking Discount and Charges
Your telegraphic transfers made via our Corporate Internet Banking or other electronic channels can enjoy a service charge discount of up to 56%.Through online banking can setup payment templates for often remittance, it is convenient for future used.
Remittance charges please read our Remittance Service Charges Table.
Correspondence Bank Charge - Applicable if Beneficiary Bank Charges are requested to be borne by remitter
Currencies | Destination | Charges / Remarks |
---|---|---|
USD | To all locations (Excluding the mainland) | For details please read our remittance service fee table |
EUR | All EU countries/regions | |
GBP | To United Kingdom and Ireland | |
JPY | To Japan | |
THB | To all locations | |
Other Currencies |
Other countries/regions |
Note: “Correspondent Bank Charges” means collectively the charges imposed by the related correspondent banks, intermediary banks, clearing institutions &/or beneficiary bank in processing the remittance, plus extra handling charge of the Bank. If Correspondent Bank Charges are requested to be borne by remitter, the Bank is entitled to collect the charges in advance. The collected amount is not refundable. But, if the actual claims exceeded the collected amount, the Bank is entitled to collect the shortfall. Please also note that this charge option requires more work and the related banks/institutions generally collect higher amounts than if they are otherwise borne by beneficiary.
Demand Draft
Would a demand draft drawn in the mainland be honored at the paying bank's counter immediately and paid in foreign currency notes?
Yes, the demand draft, upon presentation, will be honored at the paying bank's counter. If the beneficiary is a company, the funds will be deposited into the beneficiary's account in the specified currency or converted into CNY, subject to the relevant account regulations. If the beneficiary is an individual, the funds will be:
- converted into CNY; or
- deposited to a 'type c a/c (foreign currency)' in the specified currency; or paid in foreign currency subject to the availability of the foreign currency notes of the bank and the relevant regulations.
Would there be a handling charge levied by the paying bank?
Generally speaking, the paying bank will levy a certain amount of handling charge. Some paying banks may choose not to charge customers if the funds are credited to their own customer's bank account.
Remittance Enquiry
To find out more, please contact our remittance enquiry hotline 2836 8788