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Former FT in China - 2016-11-07

The bank manager said that the bank asking for the tel no of a customer from a western bank that has remitted foreign currency to a BOC account holder is one of the BOC's regulations. He does not know why that regulation exists. He also said that said customer will be sent a text message (text messages) to his/her mobile to inform him/her that a foreign currency telegraphic transfer/foreign currency telegraphic transfers awaits/await processing only if the customer pays 2RMB/month in advance for this service.

Interesting. We transfered money to Bank of China from Santander UK after we entered the country the last time. We did it on-line which you can certainly do with Santander now. Quite a largish sum to cover the purchase of the flat. It just went through instantly..well might have taken a couple of days to show up in BOC. Now I want to start buying pounds and transferring that the other way. Last time I built up pounds in BOC I just withrew the lot before leaving for LOndon- so ne experience of transferring that way. We always had that BOC account but now have another because when you buy a flat here the money to pay for it must be frozen in a different bank- can't remeber which.

2 RMB a month for text warnings that money from whomever/whatever source abroad has arrived is affordable and ueful to some account holders, I suppose.

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Re Bank of China Distrustful As Usual! -- Former FT in China -- 2016-11-07
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