Bank of China Foreign Currency Exchange Rates

Margin Rate: 5%
Minimum Transfer: 5000
Transaction Fees: 25
FCA Regualted: FCA Regulated

Bank of China Foreign Currency Exchange Rates for all International money transfer Payments. Business and personal money exchanges over £5000. Existing account only. See competitive exchange rates

How to Make International Payments & Foreign Currency with the Bank of China

Introduction Bank of China is among the biggest state-run commercial banks in Hong Kong and mainland China. With the increased intercourse of China and the outside world coupled with a globalizing Renminbi. The Bank of China remains in the forefront of international money transfer and currency exchange. With companies transacting enormous amounts of money. Hence, the bank has devised international payment transfer systems and foreign exchange online.

Given the stake of these transactions, businesses have to open a corporate account and register for online banking services. Online banking services provide transaction functions tailored to customer demands, for instance, transfer and remittance overseas. What service do they offer for international payments? If you have an account linked to the online banking services as a foreign transaction account. You can use it for a foreign exchange transaction to make international payments. Businesses using the corporate account, you can use it for fund transfer. Also, remittance from overseas account to domestic one subjects to bank rules.

How to Make International Payments to the Bank of China

The bank also provides a foreign currency selling service, cross-border payment and e-commerce money transfer between two parties. You can agree with the bank to undertake a foreign exchange on your behalf contingent on factors such as time deposit interest. You must ensure the currency is available. In addition, large-scale customers can opt for cross-exchange price among non-dollar options as the target exchange rate.

Substantial international payments at a pre-determined date can try the foreign currency swap to RMB or vice versa. But a written agreement is required. Specifically, you sign the swap deal with the Bank agreeing the projected foreign exchange rate, the time and conduct number-crunching. Customers may also opt for a Forward Settlement and Sale of Foreign Exchange.

The agreement captures the currency type, total value, term, and exchange rate. The package allows you to lock the servicing charges or premium that impact account maintenance and risk mitigation. What are the charges and receiving bank fees?To make a foreign exchange or international payments for substantial amounts of money. Hence, you will incur bank charges based on the option you choose. The Bank of China charges a negligible bank commission below 2% of the transferred amount. Servicing fees, cable cost and preferential rates but the prices vary with regions and local branches policies.

How to Make Foreign Currency with the Bank of China

How to Make International Payments & Foreign Currency with the Bank of China. What is the timescale for the transfers?Foreign exchange transfers pegged in terms of an agreement will depend on the time agreed by the parties. An online transfer will automatically make transfers or remittances on the agreed date. What protection do they offer for sending the money if any?The Bank of China is aware of cyber intrusions in internet money banking. Also has put in place sound infrastructure and encryption to protect transfers.

Customers may also pay a security deposit or insurance depending on the risks. How to make a transfer online?You can opt for the e-commerce transfer service on the bank’s B2B platform to transact online. The transaction will depend on the merchandising agreement between the buyer and seller. How does their service compare to other banks?The Bank of China has a vast financial portfolio. And years of expertise in the banking industry giving it a competitive edge against other banks. It provides investors with tailored products like the forward settlement and trade of foreign exchange.

The bank has a low threshold, lucrative exercise prices and support keeps the bank ahead of the curve. How much can be saved if using a currency exchange company?Money transfers overseas through currency exchange companies give you accessibility to bank beating rates and zero fees. However, investment money transfers may be restricted by Chinese government policies to banks. You also save time with these companies as there is minimal documentation.

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: 2%

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Address Details

Bank of China
1 Lothbury,
Great London,
United Kingdom,
EC2R 7DB

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