Introduction

The RMB Remittance for Education Fees (“RMB Education TT”) is a service designed for the students who are studying/ going to study in Mainland China and their parents or guardians to remit education fees in RMB to university, college or school in Mainland China in a direct, secured, convenience and hassle-free way.  

RMB remittance service will help students or parents/guardians to pay course fees and related learning expenses to university/college/school in Mainland China in direct, safe, convenience and hassle- free. 

The education fees include course fee, school fee, admission fee and other related expenses pay to university/college/school in Mainland China.

Eligibility

Student who is studying/ going to study in university/college/school in Mainland China or his/her parents/guardian. They can be Malaysian or non-Malaysian.

Application Requirements

  • The remitter i.e. the student or student’s parents/guardians must have a deposit account with BOCM;
  • Remittance funds must be in Renminbi;
  • The recipient/beneficiary account should be named under the university that the student is admitted and the recipient/beneficiary bank can be any bank in Mainland China (not limited to BOC branches in Mainland China);
  • The amount of remittance shall not exceed the amount listed in the education fee payment notice or admission notice; and
  • The supporting documents with student name, ID no, education fee payment amount, beneficiary bank account no. is required.
  • The supporting documents like admission letter/notice with validity period of not more than 6 months, education fee/payment notice with validity period of not more than 6 months etc to be submitted.

Application Procedures

  • Apply the “RMB Education TT” service through the branches of BOCM.

Fees & Charges

Please refer to our Bank’s latest Service Rates & Tariffs.

Gentle Reminder

  • RMB Conversion Limitation Risk

The fluctuation in the exchange rate of RMB may result in losses. Customers should consider and understand the possible impact on their liquidity of RMB funds in advance.