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  Home Page > Personal Banking >Cross-border Financial Services >ICBC Currency Exchange >Clean Collection
Clean Collection
 

☆ Description
This is a service provided by the ICBC to collect personal foreign currency check and draft on behalf of customers. Foreign currency bills for collection include personal check and check/ promissory note/draft issued by overseas banks or other commercial institutions. Other bills can also be collected based on agreement. Types of bills for collection vary from one branch to another. Please call local service hotline 95588 for more details. Generally the bills are paid within 45-60 days.

☆ Service Channels
You can apply for the service at designated ICBC outlets. Please send messages to 95588 or call local customer service hotline 95588 before applying for the service.

☆ Operation Guide
1. Bills are valid for half a year in most cases, so please apply for collection ASAP at designated ICBC outlets once you receive them. The date on which customer applies for collection shall be within four months and 15 days from the date of issue.
2. Payee shall apply for collection by providing his/her ID documents (ID Card, household register, certificate of military officers or passport).
3. Customer shall fill in ICBC Collection Order with the type of bill, bill number, date of issue, type and amount of currency and the customer's name, address, contact number and ID document number.
4. Customer shall sign at the back of the bill (endorse). To ensure the success of the collection, the endorsement shall be identical to the payee's name in the front of the bill.

☆ Tips
1. The following personal foreign currency bills cannot be collected by ICBC: forward draft, United States Postal Money Order, United States Treasury Check, personal check without the drawer's signature, modified or altered bills, overdue bills and USD bills that are not paid by US banks.
2. Customer shall pay the handling charge collected by overseas correspondent due to refund. ICBC will deduct it from the collection amount.
3. Foreign currency bills have a period of validity in most cases, so please apply for collection ASAP at the ICBC once you receive them.
4. Foreign currency bills are paid by spot exchange which can be accredited into account or settled at spot rate.
5. Charges:
(1) Handling charges are collected in proportion to the face amount. Please call local service hotline 95588 for more details.
(2) You shall also pay the handling charges which may be collected automatically by overseas correspondent handling bill collection. Specific amount varies that shall be paid by yourself.
(3) You shall pay additional charges for blank checks returned by the correspondent.

The above is for reference only. Details refer to the rules drawn up by local ICBC branch. To save your time, please call your local ICBC before applying for the service.

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