Wire transfer is the fastest mode of receiving money in your China Construction Bank (CCB) account from abroad. You can receive money into your China Construction Bank account from a foreign country via International wire transfer. The transaction is initiated by the sender through a financial institution, however, you need to provide your banking details to the sender for successful transfer of money.
International Wire Transfer to China Construction Bank
International wire transfer is one of the fastest way to receive money from foreign countries. Banks use SWIFT network for exchanging messages required for performing international wire transfer. Usually, the receiving bank (in China) and the sending bank (in other country) need to have a direct arrangement in place to start the swift transfer – this is sometimes referred to as correspondent banking.
Incoming International Wire Transfer Instructions
To receive international wire transfer in your China Construction Bank account, please provide the following wire instructions to the sending financial institution:
|Bank Name:||China Construction Bank|
|SWIFT BIC Code for China Construction Bank:||For China Construction Bank, this code is CCBQHKAX|
|Beneficiary Account Number:||Your complete China Construction Bank account number (including leading zeros, if any)|
|Beneficiary Name:||The full name of your account as it appears on your statement|
|Beneficiary Address:||Your complete address|
Outgoing International Wire Transfer Instructions
To send international wire transfer from your China Construction Bank account, You need to know the following information about the person or company receiving the money:
1. The recipient’s account name and address
2. The recipient’s IBAN or account number
3. The name and address of recipient’s bank – including the BIC (Business Identifier Code) / SWIFT code / clearing code
Incoming Wire Transfer Fees for China Construction Bank China
International Incoming Wire Transfer Fees for China Construction Bank is as follows:
|Inward Remittance||HKD50 per transaction|
Outgoing Wire Transfer Fees for China Construction Bank China
International Outgoing Wire Transfer Fees for China Construction Bank is as follows:
|Outward Remittance Through Internet||Nill|
|For PREMIER SELECT Customers||HKD50 for each RMB remittance|
Apart from the wire transfer fees, if the transfer involves currency conversion, banks make money on currency conversion as well by giving retail conversion rates to you which is usually 1-2% lower than the market rate. We recommend using services like TransferWise for getting best conversion rates with lower wire transfer fees.
Wire Transfer Cutoff Time for China Construction Bank China
1. The Cut-off Times for China Construction Bank is 6pm for both Incoming and Outgoing Wire Transfers.
2. Any requests received after cutoff time will normally be processed the next working day.