Remittance

Outward Remittance

Whether you are making international investments, settling international trade transactions, or sending funds to your loved ones overseas, our global remittance service can meet your need in a reliable and efficient way.

Our parent bank, Bank of China, is one of the world's largest commercial banks with an extensive network both in mainland China and overseas. Our group also maintains correspondent banking relationship with financial institutions all over the world. Taking advantage of this extensive global network, you can select to effect your remittance in one of the following ways:

Bank Draft:	You can purchase a Bank Draft from us and mail it to the beneficiary yourself. Bank Draft issued by us can be cashed in most of our branches in mainland China and in major international cities, such as New York, Hong Kong, London and Tokyo etc.
Wire Transfer:	Also known as telegraphic transfer (T/T), it is the most expeditious and efficient way to effect payment to your beneficiary. Your payment instruction will be dispatched electronically to one of our branches or to the beneficiary's bank.
Remittance by Mail Service:	Our Remittance By Mail is a convenience service for those who may not be able to come and arrange for remittance over our counters.Using this service, you can send money to someone without coming to our bank: Account Holders (Customers who maintain accounts with us): Just complete the Remittance By Mail application form and mail it to the address below. We shall effect payment to the beneficiary immediately upon receipt of your instructions. However, please remember to sign on the application form making sure that your signature there should be identical to your specimen signature held by us. Non-Account Holders (Customers who have no account with us): Mail the following to our address below. 1. Completed and signed Remittance by Mail Application form; 2. Personal Cheque or Money Order payable to "Bank of China (Canada)". The amount of the cheque should be your remittance amount plus the applicable charges as mentioned below. For Non-Account Holders, the maximum amount for each remittance is CAD1,000.00 or USD equivalent. For remittance of CAD1,000 (or USD equivalent) or over, we only serve remitters over the counter. Once your cheque or money order is cleared (It may take about 5 to 7 working days.), we shall effect the remittance and fax or mail the confirmation to you. To avoid any delay due to lost of your mail in transit, please contact us if you do not receive our confirmation after 20 days. Charges (Handling charges plus cable charges): Wire Transfer (T/T) in Canadian Dollars: CAD25.00 Wire Transfer (T/T) in U.S. Dollars: USD25.00 Your Remittance by Mail Application Form should be mailed to: Bank of China (Canada), 2/F, 396 Dundas Street West, Toronto, ON Canada M5T 1G7 Attn: The Operations Department, Head Office To speak with our customer representatives, please dial (416) 971-8806 and press 3 to reach the Head Office Operations Department.