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Screenshot of a breaking news alert e-mail from Q2 2017
Last week, Bank of China (BOC), one of the 5 biggest state-owned commercial banks in China was approved by the State Administration of Foreign Exchange (an investment arm of the government of the People’s Republic of China, which owns 69.265% of BOC) to formally launch individual foreign exchange settlement and sale services via its mobile banking and telephone banking channels.
So far, BOC has obtained the qualifications to engage in all-channel individual foreign exchange settlement and sale business, which can support up to 9 types of common foreign currencies, and offer a service time of up to 14 hours each day (8:00-22:00 GMT+8).
Customers can, based on their own needs, choose to settle or purchase foreign exchange via counters, online banking, mobile banking, self-service terminals or telephone banking, have a real-time update on the changes in their used and remaining limits on foreign exchange settlement and sale, inquire their 3-month history of transactions conducted via online banking and mobile banking. The client-end App of BOC mobile banking has even thoughtfully provided foreign exchange rate information and exchange conversion calculator for clients’ reference and use, so that they can learn about the latest foreign exchange rates conveniently.
Next, BOC will roll out foreign exchange settlement and sale service via WeChat app so that clients can have more convenient multi-channel and one-stop service experience.