Send Money to Agricultural Bank of China

Margin Rate: 6%
Minimum Transfer: 5000
Transaction Fees: 25
FCA Regualted: Not FCA Regulated

Transfer Money to Agricultural Bank of China

Agricultural Bank of China is one of four largest four banks in China. In todays world where clients need to make payments in different currencies internationally, every major bank tries its best to provide several options to its clientele for international payments. Swift, hassle free and safe transactions of funds is must-need for most international traders, and being one of the largest and reputable banks in
China, the Agricultural Bank of China strives to provides its customers several options through which international payments can be made. Recently, in order to facilitate international payments.

Send Money to Agricultural Bank of China

Agricultural Bank of China became a member of CIPS (China International Payment System).
International payment methods offered by Agricultural Bank of China such as Foreign Exchange Demand Draft (D/D) is a settlement method through which the Agricultural Bank of China makes international payment to the payee designated by the remitter, by transferring funds to the beneficiary bank account of the aforementioned payee. You can even get a D/D issued in your own name to avoid the risk of carrying large amount of cash.

China Agricultural Bank International Payments

The process of apply for a DD is such: you have to fill out an application form, deposit the remittance money plus service charges and then your request is approved by the bank and you have to fill out a foreign income declaration and export proceeds sale formalities. The time take for D/D transfer generally takes 2-4 working days depending on factors such as remitter requests and the beneficiary banks efficiency.

China Agricultural Bank Money Transfer Review

Foreign Exchange Telegraphic Transfer (T/T) is a method through which Agricultural Bank of China, as
instructed by the remitter makes international payment or foreign exchange through SWIFT transfer to the designated payee. Through Agricultural Bank of Chinas Foreign Exchange Telegraphic Transfer international payments can be made both inward and outward. The currencies that are offered in this
international payment method include US dollar, Japanese Yen, Hong Kong dollar, Euro, and Great Britain Pound. The timescale for a T/T is generally between 1-3 working days. The bank charges for T/T are slightly higher than D/D as they include telegraphic costs. 

China Agricultural Bank Review

The process for transferring funds via Agricultural Bank of Chinas Telegraphic Transfer is very similar to
D/D. You need to fill out an application form, deposits the funds that need to be remitted including bank and postal charges. You might be required to present some documentation to identify and fulfil the requirements of the state administration or the regulatory authority.

Being a member of CIPS, China International Payment System, Agricultural Bank of China is one of the few select banks which provide international payments via real-time settlements. This has managed the Agricultural Bank of China to help its clients make international payments faster than ever in a legal and safe way for minimum charges. The number of partner banks across Asia, Europe and Oceania have
increased over the time, and are bound to grow through the One Road, One Belt initiative ensuring easy and swift payments internationally through the Agricultural Bank of China. 

Agricultural Bank of China vs. Currency Exchange Companies?

Agricultural bank of China provides secure and legitimate means of transferring funds both locally and
internationally, ensuring a proper paper trail and even has a mechanism for refunds in case you need one.
As compared to Currency Exchange companies, transfers through Agricultural Bank of China are costlier in terms of bank charges but on the other hand your funds are covered by the bank so there is
greater security whereas money exchangers do not provide that security. Also the receipts and paper trail generated through bank transfers make it safer and more secure for companies and help you avoid any misunderstandings due to lack of paper trail. That is why despite the low rates offered by money exchangers, 80pc of the international funds transfer are still handled by banks as most people prefer security over speed and charges. 

Agricultural Bank of China offers various methods with different timescale, you can easily choose your preferred method that suits your needs and go for it. Agricultural bank of china also offers online banking so you can receive and transfer funds on the move. While shiny and cheaper services provided by money exchanger might suit some, older and larger businesses prefer international bank transfers involving large amounts of money. As compared to other banks, Agricultural Bank of China provides exceptional services with the lowest charges as compared to its rival banks.

Product Features

  • Banks offering International Payments: Banks offering International Payments
  • Buy Holiday Money Online: Buy Holiday Money Online
  • Cash Payments: Cash Payments
  • Make Instant Payments Under £1000: Make Instant Payments Under £1000
  • One off Large Currency Transactions: One off Large Currency Transactions
  • Remittance Providers in the UK: Remittance Providers in the UK
  • Send Regular Transfers Overseas: Send Regular Transfers Overseas
  • Commission Rate: 0%

Company Details

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Agricultural Bank of China

Address Details

Agricultural Bank of China
7/F, 1 Bartholomew Lane,
Great London,
United Kingdom,
EC2N 2AX