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Personal inward remittance

Product name

Personal inward remittance

Description

Throughout the Bank of China's overseas branches and exchanges with different banks across the countries all over the world, your remittance funds of ZAR, USD, EUR, CNY, etc. can be safely and quickly transferred into your account in designated the Bank of China Johannesburg branch.

No charge for inward remittance commission fee.

Target customer

All clients in the Bank of China Johannesburg branch have a corresponding currency deposit account.

Due to foreign exchange control requirements in South Africa, foreign currency remittance of South African residents will be converted into ZAR.

Procedure

To ensure that customers can receive inward remittance successfully, customer must hold a saving account in Bank of China Johannesburg Branch firstly, and then provide the correct remittance information and fulfill the application, including:

1. Bank of China Johannesburg branch of the English name, SWIFT code

2. your account name and account number

3. the remittance fund will be credited directly or convert into ZAR then credited to your account.

Notice

Sometimes the amount of the remittance received is less than the original amount of remittance, because an intermediary bank may deduct its fees.

If the bank has nostro/vostro account with the remitting bank, a remittance usually reaches the bank in full amount. However, if a remitting bank does not have account relationship with the bank, a remittance may be transferred to the bank via one or through several intermediary banks. Each intermediary bank may deduct a service charge when handling the transfer. Therefore, the amount of the remittance received may be less than the original amount of remittance.

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