Service Feature a) Potential Investment Opportunity:
U.S. Dollars are exchanged to Chinese RMB prior to receipt by the counterparty
b) More USD/RMB mutual exchange:
Enjoy more currency exchange in China in addition to $50,000 USD exchange quota
c) Secure & Fast:
Remitted funds are normally received within three business days
Eligibility: Personal customers in the ICBC (USA) are eligible for both outbound and inbound RMB remittance services. The counterparties must possess a valid account at participating ICBC branches located in Beijing City, Guangdong Province or Yiwu City (in Zhejiang Province), China.
Beijing City Outbound Remittance - Maximum of RMB 50,000 each time can be directly deposited; Recipient in China is required to provide supporting documents for additional remittance
Inbound Remittance - Maximum of RMB 50,000 each time can be directly remitted; Originator in China is required to provide supporting documents for additional remittance
Guangdong Province Outbound Remittance - Daily maximum aggregated amount of RMB 80,000 from overseas is allowed per recipient. Excessive portion is subject to reversal to originator(s)
Inbound Remittance - Maximum of RMB 300,000 annual can be directly remitted; Originator in China is required to provide supporting documents for additional remittance
Yiwu City Outbound Remittance - No limit for remittance used on personal leisure, study‐abroad and related service trade; Customers in Yiwu City are required to show proof (e.g. Commitment Letter) for remittance on goods trade settlement businesses totaling more than RMB 500,000 Inbound Remittance - Same instruction as described in outbound remittance
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