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We are continually developing our banking IT systems with the aim of providing you with better customer service and more efficient system performance.
Following our communication to you on 19 November 2015, we have successfully implemented the updates for Bank of China (UK) Limited Corporate Internet Banking Services during the weekend of 20-21 November 2015.
You should now be able to set separate Daily Transaction Limits for four different categories of transfers, i.e. “Transfer between Associated Account”, “Transfer within Bank”, “Domestic transfer” and “International Remittance”. You should also be able to customise individual operator’s authority level for each particular category.
How did the upgrade affect your current transaction limit?
By default, your Daily Transaction Limits for each of the four new categories of transactions set out above have been set at a quarter of your previous Daily Transaction Limit (i.e. £375,000 for each category if you previously had a limit of £1,500,000 per day).
| Before 22 November 2015 |
From 22 November 2015 |
| Service |
Single
Transaction
Limit (GBP)* |
Daily
Transaction
Limit (GBP)* |
Service |
Single
Transaction
Limit (GBP)* |
Daily
Transaction
Limit (GBP)* |
| Transfer |
100,000 |
1,500,000 |
Transfer between Associated Accounts |
100,000 |
375,000 |
| |
|
|
Transfer within Bank |
100,000 |
375,000 |
| |
|
|
Domestic Transfer |
100,000 |
375,000 |
| |
|
|
International Remittance |
100,000 |
375,000 |
*Daily Transaction Limit is the overall limit applied across all your accounts including accounts in different currencies. The Single Transaction Limit for these transactions remains the same.
What should you do if the new limit does not meet your business requirement?
Please contact your account opening branch or your relationship manager and complete a new Corporate Internet Banking Application Form to customise your transaction limits, subject to a maximum limit of £1,500,000 or equivalence in other currencies for each transaction category.
Please note: if no action is taken by you, your Daily Transaction Limits for each of the four new categories of transactions set out above will remain at a quarter of your previous Daily Transaction Limit.
Should you have any questions in relation to the above change, please visit any branch of the Bank, contact your relationship manager or call us at 0845 519 5566 from UK or +(44) 20 7282 8926 from overseas.
We apologise for any inconvenience that you may experience.
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