Introduction
International Remittance Standing Order (Formerly known as Foreign Remittance Standing Order) is a value added service for our existing customer who needs to remit fund to overseas periodically. International Remittance Standing Order is specially catered for remittance to overseas in foreign currency by accountholder for fund transfer to their own account, family or relatives’ account in overseas or their home country.
Product Features/Benefits
- International Remittance Standing Order allowed for the debiting of pre-determined fixed amount from individual accountholder’s MYR or FCY accounts (not applicable to Joint Account) at regular interval and remit the debited amount in foreign currency (after currency conversion if debiting is from the account holder’s MYR account) to overseas.
- Customer can remit funds to overseas without visiting branches after their International Remittance Standing Order application is approved. They only need to present at branch for the application of International Remittance Standing Order with supporting documents for the first time.
- Frequency of fund transfer to overseas can be set as daily, weekly, fortnightly or monthly.
- International Remittance Standing Order duration can set up to maximum one (1) year.
- Purpose of transaction :
- Any purpose for first party and immediate family members
- Education
- Medical
- Living Expenses
Fees & Charges
No charges for International Remittance Standing Order subscription but there is charges on overseas remittance, kindly refer to our Bank's latest Service rates & Tariffs.
Eligibility
All Malaysian citizens, permanent residents and foreigners with working permit aged 18 years and above.
Application Requirements
- Customer must have Individual’s Savings Account/Current Account/ Foreign Currency Current Account with Bank of China (Malaysia) Berhad, AND
- To provide supporting document such as source of funds and purpose of remittance for International Remittance Standing Order creation.
Required Documents
Valid identification credentials such as NRIC or Passport, Savings Passbook (if any) and payee's details.
Application Procedures
Kindly visit any of our branches for International Remittance Standing Order application.