CAD to RMB Bank of China

Bank of China is a Chinese Bank formally established in February 1912 following the approval of Dr Sun Yat-sen.

From 1912 to 1949, the Bank served consecutively as the country's main bank, international exchange bank and specialized international trade bank.

Bank of China has established 600+ overseas branches in 61 countries and regions worldwide, including 24 countries along the Belt and Road.

The volumes of international settlement and cross-border RMB settlement of the Bank of China have been the 1st rank in China for years.

Further, the Bank of China provides support in settlement services for nearly one-third of China's foreign trade imports.

For multinational group companies, the Bank of China can provide a series of customized financial services.

These services include online and offline cross-border remittances and online supply chain finance, which deeply coincides with the needs of multinational group companies.

The company aims to provide its customers with a comprehensive range of financial services.

Requirements To Create an Account

You must be aged 18 years and above
Hold a valid Hong Kong identity card
Provide a valid Hong Kong permanent identity

How To Create an Account

To create an account with Bank of China, you need to;

Download the Bank of China mobile app
Scan your identity card
Perform facial recognition exercise to verify your identity
Input mobile number
Set up internet banking
Provide personal information

You also need a minimum deposit of $1,000 to open a personal account. The balance in a Checking Account will not earn any interest.

Bank of China USA also does not allow overdrafts in the account or the honoring of your check drawn on the account against uncollected funds.

Bank of China Exchange Rate

Currently, 100 Canadian dollars is equal to 765.30 RMBs.

Bank of China offers telegraphic transfer and demand drafts

To transact telegraphic transfer, you need to fill out a telegraphic transfer application form in English and obtain the following;

Remittance currency and amount
Your recipient's name and address
The recipient's account number in the opening Bank
Name, SWIFT code or address of the recipient
To transact demand draft, you need to fill out a demand draft application form in English and provide
Remittance currency and amount
The payee's name and address.

To complete a demand draft for international remittance, you'll need the following details;
The destination currency
The amount you wish to pay

-The payee's contact details - name and address

Alternative to Bank of China: RemitBee

Choosing the best money remittance service for you is essential. With RemitBee, you can be confident that our remittance services are uncomplicated and will give you the best deals possible. As a matter of fact, our rates and fees are better than average banks and Bank of China.

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