China

SWIFT Payouts

Supported Currencies

CNY, AUD, USD, EUR

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Restrictions

CNY payouts to Individuals is not allowed

Recipient must have been activated in RCPMIS, the central bank reporting system, by its local bank before it can conduct any CNY cross-border transaction for the first time

Field Requirements

Object	Parameter	Requirements
Payment Address	accountReference	Required
	routingCode	SWIFT BIC* (8) or (11): xxxxCNxx or xxxxCNxxxxx RegEx format: ^[A-Z]{4}CN[A-Z0-9]{2}([A-Z0-9]{3})?$
	bankCountry	CN
	accountName	Only required if the name on the account differs to the Recipient name
Recipient	physicalAddress	Country, City, streetName and Postal Code are required
	corporateName	Required
Payout	paymentReason	Select Payment Reason Code from list below

Payment Reason Codes

PaymentReason Code	Purpose of Payment
CAC	Current Account - Dividend payment, profit distribution, tax payment etc
CAP	Capital Account - Capital injections, direct investments, etc
GDS	Goods Trade - Sale & purchase of goods, procurement of goods etc
SRV	Service Trade - Rent, Legal fee, advertising and promotion fee, insurance etc

Updated 22 days ago