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Foreign Currency Bill Collection


The Foreign Currency Bill Collection is a settlement mode where ABC, acting as the remitting bank of the customer, collects the proceeds of foreign currency financial instruments from the foreign payer on behalf of the customer. This collection mode is only based on such forex payment vouchers as drafts, cheques and promissory notes without commercial documents, which makes it also being termed "clean collection". ABC offers foreign currency bill collection services for drafts, cheques, promissory notes, traveler's cheques, postal money orders and other original instruments that can be settled in freely convertible foreign currencies.


1. Collection through our correspondent bank network helps customers avoid high risks that are otherwise posed, by directly sending financial instruments to the payer for payment.

2. The correspondent bank network of ABC reaches every corner of the world and helps customers collect their payments worldwide quickly and easily.

3. If the remitting bank enters into an "immediate crediting" agreement with the account holding bank, customers will receive payment much more quickly.

4. Low bank charges on foreign currency bill collection.


1. The customer completes the Foreign Currency Bill Collection Application Form, delivers the financial instrument to ABC and endorses the instrument with the specimen financial seal.

2. ABC sends the instrument to the relevant foreign bank for collection.

3. After proceeds of the instrument are collected, the customer undergoes formalities for forex sale or crediting and international payment declaration in accordance with the forex policy.


1. Foreign Currency Bill Collection applies to the collection of bills and negotiable vouchers under trade or non-trade transactions.

2. Currencies that denominate the bills to be collected should generally be freely convertible.

3. Collection is not suitable for the instruments with restrictions on circulation areas.

4. Customers should pay extra attention to endorsed bills, for they are more likely to be exposed to fraud risks, such as forging and alteration.

5. Bills that are unfamiliar to customers, have an extraordinarily large value or whose issuers present doubtful credit standings are likely to be dishonored due to fraud.

6. Large-value bills for the purpose of investment, loan or pledge are likely to be dishonored due to fraud.

7. ABC reserves the right of recourse against customers if the correspondent bank exercises recourse against ABC for proceeds of dishonored instruments and related costs.
Note: Please contact your local branch for detailed information about the service.

Customer Service Center : 95599


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