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Bank-To-Exchange Money Transfer Service
 
CMB provides bank-to-exchange (BTE) money transfers payment settlements to facilitate instant money transfers between customers and commodity and emergent exchanges based on customers' instructions and in compliance with PBC's regulations.
Advantages
Convenient: you can access the service through multiple channels provided by CMB;
Flexible: transactions can be launched from you or exchanges;
Quick: money transfers are processed immediately;
Safe: the transaction system is highly reliable and multi-functional.
Service Channels

Transaction

Accountant counter of account opening branch

Online banking

Exchange

Function management

 

 

Limit management

 

 

Bank-to-exchange transfer

 

Exchange-to-bank transfer

Transaction fund inquiry

Remarks: Enterprise customers can only apply for exchange-to-bank transfer service at exchanges.
Application procedure
Enterprise customers need to finish three steps to apply for this service:
1. Open a CMB bank settlement account if you do not have one. You may apply for Corporate Banking.
2. Open a transaction fund account at the exchange (or the service agency authorized by the exchange) and designate CMB as the settlement bank.
3. Apply for the BTE money transfer service at CMB. If you have enabled Corporate Banking, you need to apply for corporate banking BTE money transfer service separately.
Instructions
Function management
You can enable or disable BTE money transfer service in function management.
1. Channel: accountant counter of the account opening branch
2. Requirements: Enterprise customers must fill out the CMB BTE Money Transfer Application/Maintenance Form, and seal the form with their official stamp and stamp of their legal representative or proxy. The legal representative must provide his/her original ID and a photocopy. If the application is made by proxy, the proxy should provide his/her original ID card and a photocopy, and a letter of proxy. All photocopies should be sealed with an official stamp.
[Notice]
You must not conduct BTE money transfer on the day that BTE money transfer service is disabled.
Limit management
Limit management enables you set and change the transfer limit of each transaction and day. You can set a limit when applying for the service. The process for changing the limit is as follows:
1. Channel: accountant counter of the account opening branch
2. Requirements: Enterprise customers must fill out the CMB BTE Money Transfer Application/Maintenance Form, and seal the form with their official stamp and stamp of their legal representative or proxy.
Money transfer
This enables you to transfer money between your bank settlement account and special deposit account at the exchange.
1. Channel: accountant counter of the account opening branch and Corporate Banking
2. Requirements: Enterprise customers must fill out the CMB CTE Money Transfer Application, and seal it with the reserved stamp. You need to submit the payment voucher to transfer money from the bank to the exchange, and input the transaction password to transfer money from the exchange to the bank. Enterprise customers need to input their transaction passwords to transfer money from the exchange to the bank via Corporate Banking.
Transaction fund inquiries
This enables you to check the balance of your fund transaction fund account at the exchange.
1. Channel: accountant counter of the account opening branch and Corporate Banking
2. Requirements: Enterprise customers need to input their transaction passwords.
Partner exchanges
BOHAI Commodity Exchange http://www.boce.cn
THE FANYA Metal Exchange http://www.fyme.com.cn/
Chongqing Financial Assets Exchange http://www.cqfae.com/
Cooperation process
1. The exchanges and CMB declare their intention to cooperate.
2. The exchanges and CMB enter a contract covering the BTE money transfer service, and sign various legal documents.
3. The exchanges and CMB separately develop and test their interfaces and configure the related equipment.
4. The exchanges and CMB jointly commission the network and complete any other preparatory tasks.
Notice
1. The documents you provide to open the transaction fund account at the exchange (or authorized agent) must be the same as the documents you submitted to CMB to open the bank settlement account. Change your application documents accordingly if any changes are required.
2. Currently, only Chinese accounts are supported for the service.
3. The service hours of BTE money transfer is subject to the exchange's announcement.
4. After you apply for CMB BTE money transfer service and the Corporate Banking system, you need to apply for Corporate Banking services separately.
5. To alter your bank settlement account, you need to disable the service and open another settlement account to re-apply. Moreover, your transaction fund account at one exchange can only correspond to one bank settlement account.
6. CMB has the right to suspend the service if you are guilty of misconduct.
F&A
1. What is a commodity exchange and emergency exchange-traded market?
A commodity exchange is an e-exchange platform for trading materials and items, including steel, coal, oil, lead, zinc, aluminum, copper, tin, nickel, rare minerals, silk, rubber, plastic and sugar, ownership, technology and works of art. An emergent exchange-traded market is an innovative internal-trading exchange, smaller and less mature than stock, bond, futures and commodity exchanges.
2. How do I transfer money between the bank and exchange?
You can enjoy the BTE money transfer service at the accountant counter of a CMB branch or on CMB Corporate Banking.
3. Can transfers be made in real-time?
Yes
4. Are any fees charged?
No. The service is free.
Note:
All the contents stated above are for your reference only. Please consult the local branch of China Merchants Bank for further information. China Merchants Bank reserves the ultimate right of interpretation for the contents in this page.