Pre-settlement of foreign exchange in China Bank refers to that when an overseas branch handles foreign exchange remittance from an overseas individual to a domestic individual, if the remitter requests to deliver the remittance in RMB to the payee, the overseas branch first converts the remittance into RMB according to the cash purchase price set by the head office on the remittance date, and informs the remitter of the amount of RMB remitted, and then remits the foreign exchange to the designated domestic payee, and the domestic payee informs the remitting bank of the specific remittance method of directly remitting RMB to the payee according to the payment instructions of the overseas branch.

The above contents are for your reference. Please refer to the actual business regulations.

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