China
SWIFT Payouts
Supported Currencies
- CNY, AUD, USD, EUR
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 4 months ago