ICBC announced today that it will formally launch "ICBC Global Transfer" products since that day in the range of the whole bank to provide safer, more efficient and cost-effective foreign exchange fund remittance and transfer services, the speed of remittance and transfer clearance of which is up to the advanced level in the industry.

ICBC person in charge said that at present, "ICBC Global Transfer" products mainly include foreign exchange remittance, personal pre-exchange settlement remittance, fund concentration and transfer, payment instruction treatment, agency for inter-bank remittance and transfer and clearance, etc.

In the above, personal pre-exchange settlement remittance is ICBC's feature service provided to personal customers. Overseas remitters can remit money to China through ICBC's overseas offices, which provide this service, and payees can directly receive the money in RMB based on the exchange rate of the date of remittance. This way both effectively avoids exchange rate risks and reduces procedures of exchange settlement of payees. Payment instruction treatment service is a kind of function especially designed for providing unified payment of funds for large-sized enterprises or financial institutions. After a customer signs payment instruction treatment agreement with ICBC, he sends SWIFT messages that conform to the format of the agreement, and ICBC can, based on this, automatically complete external payment of RMB and foreign exchange accounts opened at ICBC offices in China by the customer.

Moreover, by signing "ICBC Global Transfer" product use agreement with ICBC, other commercial banks can, by way of single-point or multiple-point linking with ICBC, fully utilize ICBC's operation institutions and extensive agent bank network to provide safe and fast global remittance and transfer services for their customers.

The person in charge said that the "ICBC Global Transfer" products launched by ICBC are based on a great deal of professionals that have high sense of dedication and good professional qualifications, highly efficient and leading operating e-based network and unified central and real-time processing of business data in the whole country, and also, they are based on ICBC's operation institutions distributed all over China and abroad. ICBC currently has nearly 20,000 domestic business offices, more than 100 overseas branches, more than 1000 overseas agent banks. Agent bank network of ICBC covers more than 100 countries and regions over the world. He also said that in the future, content of "ICBC Global Transfer" products will increase continuously, thus to provide safer, faster and more convenient foreign exchange remittance and transfer clearance services for customers.