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Remittance
 

Personal remittance service allows you to send money overseas easily, through our established global network, you can remit money to all major countries around the world. Enjoy fast and reliable service with minimum cost.

1.Local SGD Funds Transfer
Transfer SGD funds to banks in Singapore through internet banking/mobile banking via FAST/PayNow with no charges levied.
Customers could also come down to our branch to apply for casher order for SGD funds transfer in Singapore.

2.RMB Fixed-rate Remittance
RMB fix-rate remittance means payers remit SGD or USD from Singapore to payees (must be Chinese citizens) in mainland China. The fund will be automatically converted into RMB on a fixed-rate quoted daily by our bank, and credited to payee account.
We offer attractive exchange rate, safe and fast crediting to beneficiary (payee) account. This remittance service supports all banks in China as beneficiary (payee) bank except Rural Credit Cooperative and Postal Savings Bank of China. It usually takes 2-3 working days to reach beneficiary (payee) account.
Under the prevailing Chinese regulations, each Chinese citizen is only allowed to receive up to USD 50,000 or equivalent of RMB fixed-rate remittance every calendar year. Please ensure beneficiary (payee) limit is not used up to avoid any charges incurred.

3.Worldwide Remittance
We provide worldwide remittance in SGD, USD, EUR, GBP, HKD, CAD, AUD. Beneficiary (payee) will receive the same currency remitted, thus no currency conversion is required.

4.ICBC Express
ICBC Express is an efficient remittance within ICBC group worldwide, which supports SGD, USD and HKD, etc. Customers could send money to ICBC branches worldwide, enjoying benefits of simple operation, low cost and swift credit.

5. Receiving Overseas Funds or non-SGD Denominated Funds

If you are receiving overseas funds or non-SGD denominated funds, please inform the remitter or remittance bank of the following information.

Required Information Details to be provided
Beneficiary’s Details
Name Your Name per Bank’s records
Account Number / Debit Card Number Your ICBC account number or debit card number*
Beneficiary Bank’s Details
Name ICBC Singapore Branch
Address 6 Raffles Quay #23-01 Singapore 048580
SWIFT Code ICBKSGSGXXX
Bank Code 8712
Branch Code <6th to 8th digits of your account number>

6. Application Requirements
Customers must be our account holder and 18 years old and above. Also customers need to bring along valid identification documents in Singapore (tourist Visa or short term visit pass is not allowed) when they come down to our branch to apply for this service. Meanwhile, customers agree with the relevant rules and regulations regarding remittance service.
Valid identification documents are:
Singapore NRIC for Singapore PR or citizens;
Relevant work pass (Eg: EP, SP, WP);
Other valid Identification Document together with passport.

7. ICBC customer identification requirements for cross-border remittance transactions
As per the latest Chinese regulatory requirements on customer identification for cross-border transfer business, please note that swift messages for remittance transactions on behalf of clients via your good bank? vostro accounts opened with ICBC should include the following detailed information:
(1) Account numbers of both payer and beneficiary (payee) customers. Messages with no account number, or simply the number zero or other invalid input are not acceptable.
(2) Full names of both payer and beneficiary (payee) customers. Corporate customers should use their registered name; while for individual customers, the full name should be consistent with his/her name printed on a valid ID document.
(3) Detailed addresses of both payer and beneficiary (payee) customers. The address should contain the following information in order —unit number, street, city, country and zip code, which should describe in English letters without any punctuation. The address cannot be a PO Box number. Corporate customers should provide the address of their operation location and/(or) permanent premise. Individual customers who have no residential address can provide the address as printed on valid ID documents.


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