Credit Card Service:400-88-95580  |  Call Center:95580  |  简体中文   |   繁体中文

Cross-Border Remittance

Date: 2016-04-16

i. PSBC international remittance

1Business introduction

PSBC international remittance is the electronic international remittance provided by the Bank in collaboration with world famous banks. Funds are transferred electronically, and can be received by over 200 countries and regions within 1-2 days.

 Both cash and account are supported for outward remittance.Funds could be directly transferred to PSBC account for inward remittance. At present, international remittance is available for US dollar, Euro, Pound sterling, Hong Kong dollar, Japanese yen, Canadian dollar and Australian dollar.

2Businees features

Smooth — The highly-developed electronic service network of PSBC and overseas banks eliminates the geographical restriction, the remittance is available in more than 200 countries and regions worldwide

Secure – Rapid and accurate receipt of inward remittance saves the trouble and concern of carrying a large amount of cash.Economical — Compared with other remittance channels, PSBC international remittance gives you an over 30% discount in handling fee.

Quick — The advanced electronic remittance of the Bank brings you a new experience in fund transfer

Convenient — You can enjoy the preference of no form and bonus points by holding the Foreign Exchange Express Card.

3Business Procedure

Business Procedure for handling the outward remittance:

(1) The remitter fills in the Application Form for Overseas Remittance, accurately specifying the following information:

1)    Amount of remittance: a remitter who has opened a Green Card Express or all-in-one account in RMB and foreign currencies with the Bank should provide the corresponding account number

2)    Full name of overseas beneficiary bank, city and country where the bank is located

3)    Account name and account number of the remittees’ beneficiary bank

4)    Institutional authentication code, BIC code and ABA code, etc., of the beneficiary bank

(2) Remitter submits the Application Form for Overseas Remittance and  valid identity certificate, with the funds principal and the handling fee to the counter, and get the business acceptance bill. The handling fee will be paid in RMB(3) Remitter notifys remittee of the sending remittance. The remittance is expected to arrive at the designated account in 1-2 working days if the information of remittee is accurate

(4) Remittees at abroad can inquire about the information of remittance receipt through online banking, phone banking or ATM

(5) For outward remittance that meets relevant conditions, the declaration of international payments is required, customer will be asked to fill in the Application Form for Overseas Remittance to complete the declaration

(6) When handling the outward remittance, remitters can select the Guaranteed Plus service of receipt in full amount at their own discretion, and pay the handling fee for the full-amount receipt, in addition to the handling fee and telegram charge for remittance, to ensure remittees receive the principal of remittance in full amount.

Business procedure  for receiving the inward remittance:

(1) Submitting the Instruction for Inward Route of PSBC Remittance to remitters after filling in the information of remittance

(2) Taking the Green Card Express or the all-in-one passbook in RMB and foreign currencies to receive the inward remittance

(3) Inquirie whether the remittance has been received through the outlet or online banking

(4) For inward remittance that meets relevant conditions, the Bank will notify customers to fill in the Declaration Form for Foreign-related Income in the outlet where the foreign currency account was opened, to complete the declaration of international payments

i.    International quick pay

1.Western Union Remittance

(1) Business overview

Western Union  Remittance is a international quick remittance product handled by the Bank on behalf of Western Union Holdings. Supported by advanced and complete electronic exchange and remittance financial network, Western Union Holdings covers more than 200 countries and regions around the globe. Western Union Remittance is available in outlets all overthe country provinces and cities . Quality and efficient service brings you handy and secure experience of international remittance.

(2)  Business features

Quick — Remittance in cash, funds can be recieved in a few minutes.

Reliable — Western Union Holding is experienced in international remittance services, and has the advanced technologies and global network.

Handy — Simple procedures. Remitters can apply for the remittance without opening a bank account, and enjoy the preference of no form by holding the Foreign Exchange Express Card. Remittees can withdraw the remittance with the type of currency, amount and monitoring code of Western Union etc.

Wide coverage — Over 500,000 outlets of Western Union Holdings are available in more than 200 countries and regions worldwide .

Free of the handling fee for remittees— The handling fee of remittance is paid by remitters,no additional expense for remittees .

Multiple business channels — Counters, online banking and SMS are available for inward remittance.

(3) Serves for you

All the PSBC outlets with personal foreign exchange business are available for the Western Union inward and outward remittance business . Personal online banking and SMS are available for Western Union inward remittance.

For any question, please feel free to call:

Hotline of PSBC: 95580

Hotline of Western Union Holdings: 800-820-3323, 86 – 21 – 68664610 (For mobile)

2. MoneyGram Remittance

(1) Business overview

MoneyGram Remittance is an international quick remittance business provided by the Bank in cooperation with US MoneyGram for individuals.

(2) Features

Quick — Remittance can be paid to remittees in ten minutes, and fund can be picked up from any of the local outlets.

Secure — Vast agent network around the world linked by the computer technology guarantee the transaction security.

Reliable — Having a long history in the remittance field, US MoneyGram can keep the remittance transaction valid for 45 days.

Economical — Competitive fees, remittees do not have to pay any extra fees.

Handy — More than 350,000 outlets are available in 200 countries and regions around the globe.

(3)Serves for you

All the PSBC outlets with personal foreign exchange business are available for MoneyGram business.

For any question, please feel free to call:

Hotline of PSBC: 95580

Hotline of US MoneyGram: 800-990-9919 (Free of charge with the territory of China), 400-813-9919 (For mobile)

3. Sigue Money Transfer

(1) Business overview

Sigue Money Transfer is an international quick remittance service provided by the Bank in cooperation with Sigue Corp. for customers to pay the individual outward remittance.

(2) Business features

Quick — Remittance can be sent immediately and received by remittees in a few minutes for quick withdrawal.

Reliable — Sigue Money Transfer system is clear and easy to operate, remitters can track the remittance status by a remittance password (CMT No.) only. Moreover, it can guarantee the consistency between the amount received by remittees and the amount sent by remitters.

Convenient — Neither a remitter nor a remittee has to open a bank account.

Value added — Sigue Corp. offers a reasonable and transparent charge and competitive exchange rate.remittees do not need to pay any expense.

(3)Serves for you

For any question, please feel free to call:

Hotline of PSBC: 95580

Hotline of Sigue Corp.: +86–10–84683286/68

4. Ria Money Transfer

(1) Business overview

Joining hands with Ria Financial Service Corp., PSBC provides overseas Chinese with handy and quick Ria Money Transfer service (real-time remittance of personal foreign exchange).

(2) Business features

Convenient — Customers can remit the fund to any outlet of PSBC through any agent cooperating with Ria Financial Service Corp.

Quick — Simple procedures. Remittance can be paid in ten minutes. According to the 11-digit remittance password, remittees can, receive the remittance in any domestic PSBC outlet  available for the foreign exchange business.

Economical — Lower fees under the same conditions of remittance, no handling fee is charged for receipt of remittance in China.