Information/Campaigns

2019/08/28

Increase in Limits on Remittances to China and Additional Ways to Receive Remittances


Increase in Limits on Remittances to China
We have increased the limit per remittance from 1,000 USD to 5,000 USD.
Note: Remittances can be received in US dollars (USD), Euros (EUR), Australian dollars (AUD), and pounds (GBP) only.

Remittance amount
Fee
1 yen – 100,000 yen 750 yen
100,001 yen – maximum remittance amount (5,000 USD equivalent)  1,250 yen

Caution: Using a Remit Card will incur an additional fee.

Also, in addition to being able to receive remittances at bank branch counters, recipients can now also receive remittances via the Bank of China and Postal Savings Bank of China’s online banking services, and Alipay.

Method of receipt
Receive at bank location
Receive online with mobile app
Partner banks Bank of China, Industrial and Commercial Bank of China, Postal Savings Bank of China, China Guangfa Bank, China CITIC Bank, Bank of Communications Bank of China Postal Savings Bank of China  Alipay 
Maximum receivable 5,000 USD equivalent 5,000 USD equivalent 5,000 USD equivalent 1,000 USD equivalent
Requirements A bank account is required.
When receiving a remittance at a partner bank, the recipient must show a valid ID at a local branch.
Note: If the recipient is not a Chinese national, he or she may not need a bank account, so the recipient should check at the local bank.

Once the remittance is received, it will be deposited into the recipient’s bank account at the receiving bank in US dollars (USD). The bank’s exchange rate from US dollars (USD) to Renminbi (CNY) will be applied.
Before carrying out the steps to receive a remittance via mobile app or online banking, the recipient must indicate their agreement with international remittance regulations at a Bank of China branch (any branch will do). Once the remittance is received, it will be deposited in the recipient’s Bank of China account in US dollars (USD). The bank’s current exchange rate from US dollars (USD) to Renminbi (CNY) will be applied in the app. Once the remittance is received, it will be deposited in the recipient’s Postal Savings Bank of China account in US dollars (USD). The bank’s current exchange rate from US dollars (USD) to Renminbi (CNY) will be applied in the app. When carrying out the steps to receive a remittance, if the recipient specifies the bank to deposit funds, the remittance will automatically be converted from US dollars (USD) to Renminbi (CNY) at the Bank of China’s exchange rate. Note: Funds can be deposited in any bank account that can be linked to Alipay.
Method of receipt
Receive at bank location
Partner banks Bank of China, Industrial and Commercial Bank of China, Postal Savings Bank of China, China Guangfa Bank, China CITIC Bank, Bank of Communications
Maximum receivable 5,000 USD equivalent
Requirements A bank account is required. When receiving a remittance at a partner bank, the recipient must show a valid ID at a local branch.
Note: If the recipient is not a Chinese national, he or she may not need a bank account, so the recipient should check at the local bank.

Once the remittance is received, it will be deposited into the recipient’s bank account at the receiving bank in US dollars (USD). The bank’s exchange rate from US dollars (USD) to Renminbi (CNY) will be applied.
Method of receipt
Receive online with mobile app
Partner banks Bank of China Postal Savings Bank of China 
Maximum receivable 5,000 USD equivalent 5,000 USD equivalent
Requirements Before carrying out the steps to receive a remittance via mobile app or online banking, the recipient must indicate their agreement with international remittance regulations at a Bank of China branch (any branch will do). Once the remittance is received, it will be deposited in the recipient’s Bank of China account in US dollars (USD). The bank’s current exchange rate from US dollars (USD) to Renminbi (CNY) will be applied in the app.  Once the remittance is received, it will be deposited in the recipient’s Postal Savings Bank of China account in US dollars (USD). The bank’s current exchange rate from US dollars (USD) to Renminbi (CNY) will be applied in the app. 
Method of receipt
Receive online with mobile app
Partner banks Alipay 
Maximum receivable 1,000 USD equivalent
Requirements When carrying out the steps to receive a remittance, if the recipient specifies the bank to deposit funds, the remittance will automatically be converted from US dollars (USD) to Renminbi (CNY) at the Bank of China’s exchange rate. Note: Funds can be deposited in any bank account that can be linked to Alipay. 


>Remittances to China

Enquiries: SBI Remit Customer Support Center
03-5652-6759
Reception Hours
Chinese/Japanese:
Weekdays 09:00–18:00
Weekends and national holidays 10:00-18:00
(excluding New Year and vacation dates set by SBI Remit)
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