☆ Description This is a service for customers to convert foreign currency into RMB at ICBC's real-time foreign exchange quotation of the day according to the regulations of State Administration of Foreign Exchange (SAFE).
☆ Features 1. Multi-currency: ICBC offers foreign exchange services in such currencies as US dollar, Hong Kong dollar, Japanese yen, euro, British pound, Australian dollar, Canadian dollar, Singapore dollar, Swiss franc, Danish krone, Norwegian krona, Swedish krona, Macao Pataca, New Zealand dollar, Korea won, TWD, Malaysia ringgit, Russian ruble, Kazakhstani tenge, Thai baht, Philippines peso, Vietnamese dong, South African rand and Pakistan rupee1. Currencies available for exchange vary from one branch to another. Please send messages to 95588 or call local customer service hotline 95588 before applying for the service. 2. Wide coverage: Customers from both China and abroad can apply for foreign exchange settlement with foreign currency banknote or deposit of foreign exchange account. 3. The overseas customer can exchange the remaining RMB into foreign currency by passport, the original voucher of exchange settlement and ATM withdrawal slips of overseas bank cards at designated ICBC outlets before leaving China.
☆ Service Channels 1. You can apply for personal settlement of foreign exchange at designated ICBC outlets. 2. You can apply for foreign exchange settlement in small amount through ICBC Internet banking or mobile banking and the highest annual amount is an equivalence of USD 50,000 in total. (This service is available in certain areas. For more information, please send messages to 95588 or call local customer service hotline 95588).
☆ Operation Guide For each customer, whether from both China or abroad, the total amount of foreign exchange settlement for whatever reason shall not exceed an equivalence of USD 50,000 (inclusive) a year. The customer can apply for the service by valid ID document. "A year" refers to one calendar year, from January 1 to December 31. Customer can apply for foreign exchange settlement with the total amount exceeding an equivalence of USD 50,000 a year as follows: 1. For domestic customers The customer, whose non-business foreign exchange settlement of current item exceeds the annual quota, shall make application at ICBC with valid ID documents and the following documents (with copies): (1) Donation: Customer shall provide notarized donation agreement or contract. The donation should be subject to national regulations; (2) Alimony: Customer shall provide proof of direct relation or notarized proof of support relation and proof of the income of the overseas payer, such as bank deposit and personal tax payment document; (3) Gains from inheritance: Customer shall provide legal documents or notarization of inheritance; (4) Gains from foreign exchange insurance: Customer shall provide insurance contract and proof of payment by insurance agency. The purchase of foreign exchange insurance shall be subject to national regulations; (5) Gains from patent or franchise: Customer shall provide proof of payment and agreement or contract; (6) Earnings by providing legal services, accounting, consultancy and public relation services: Customer shall provide proof of payment and agreement or contract; (7) Salary: Customer shall provide employment contract and proof of income; (8) Gains from overseas investment: Customer shall provide proof of foreign exchange registration for overseas investment issued by the SAFE, resolution on profit distribution or dividend payment document or other proof of income; (9) Others: Customer shall provide related proof and payment document. 2. For overseas customers The customer, whose non-business foreign exchange settlement of current item exceeds the annual quota, shall make application at ICBC with valid ID documents and the following documents (with copies): (1) Rental payment: Customer shall provide rental contract registered at the housing management department and invoice or payment notice; (2) Living expenses: Customer shall provide contract or invoice; (3) Expenses for medical treatment and study: Customer shall provide proof of fees issued by hospital (school) in China; (4) Foreign exchange settlement for purchasing a house: Customer shall provide Application for Foreign Exchange Settlement, sales contract or pre-sales contract of the commercial house, valid passport, proof of pre-sales contract registration issued by the housing management department, valid labor contract for more than one year or proof of studying in China and a written commitment of having no other houses in China. (5) Others: Customer shall provide related proof and payment document shall be provided. 3. Foreign exchange settlement in small amount through Internet banking and mobile banking (1) The domestic customer who has opened multi-currency accounts in ICBC and activated the Internet banking or mobile banking can make foreign exchange settlement in small amount through Internet banking and mobile banking. (2) The annual amount of personal settlement of foreign exchange through Internet banking and mobile banking is limited and the highest amount is an equivalence of USD 50,000 per customer.
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.