Various transaction methods: Internet banking, self-service banking terminals, phone banking, mobile banking or over the counter

Various types of order: market orders, limit orders, stop loss orders, “one cancels the other” orders, “if done” orders, and “if then” orders

Unlimited trading hours: 24/7

Favorable prices: Enjoy favorable prices when trading large amounts.

Long order term: Orders can be valid for up to 5 days (temporary function for clients holding Wealth Management Accounts only)

To ensure that all orders are valid, the system will notify you if you have entered an incorrect exchange rate and will not process the order. The system will notify you if the exchange rate differs greatly from the market rate (excluding “if done” or “if then” orders).

To conveniently arrange an order by phone, you can type in “*” and “#” to buy a currency using the entire balance of your special trading account.

Article 1 China Merchants Bank Forex Express Trading service is a service that enables CMB customers to make foreign exchange orders through phone banking, self-service banking terminals, Internet banking, and counters at CMB branches. CMB sets exchange rates based on international market rates. Spot transactions are closed through clients' accounts.

Article 2 China Merchants Bank publishes rates based on international market rates. Due to political, economic and other influential factors, exchange rates continually fluctuate. Customers must be fully aware of the risks involved in exchanging foreign currencies, and be prepared to bear any losses.

Article 3 Personal foreign exchange deposits can occur in two forms: foreign exchange remittance and foreign banknotes. Foreign banknotes can be traded at the price of a foreign exchange remittance, but should be administered as deposits in foreign banknotes.

Article 4 Password: A correctly entered transaction password is required for all foreign exchange transactions. You can change your password changed using your bank card PIN. Customers are responsible for all losses that result from disclosing their transaction password.

Article 5 The currencies available for trading at China Merchants Bank are the United States dollar (USD), Hong Kong dollar (HKD), Euro (EUR), Japanese yen (JPY), Great British pound (GBP), Swiss Franc (CHF), Canadian dollar (CAD), Singapore dollar (SGD) and Australian dollar (AUD).

Article 6 The minimum trading value of an order using the China Merchants Bank personal foreign exchange trading service is the equivalent of USD 100. Local branches may change this amount.

Article 7 The trading hours of the China Merchants Bank personal foreign exchange trading service are Monday 8:00 am to Saturday 5:00 am (Beijing Time).

Article 8 Order Validity. In CMB’s previous trading system, transaction orders that were not accepted by 8:00 am the next morning or by 5:00 am on Saturday were automatically cancelled. The new trading system of China Merchants Bank keeps successful orders valid for 24 hours; an order is automatically cancelled if have not been accepted within 24 hours. When trading through a Wealth Management Account, orders remain valid for up to 5 days.

A one-day valid order becomes valid once it has been successfully made, and then expires at the same time the next day. A two-day valid order expires at the same time the day after the next day, and so on.

Orders are cancelled automatically when they are in the validity period if CMB’s trading system is shut down, for example, during a public holiday; however, this is subject to local branch policy.

Article 9 China Merchants Bank provides six ways of making orders: Internet banking, self-service banking terminals, palm banking, mobile banking (for limited orders only), and over the counter (for market orders and limited orders only).

Article 10 All rates are for spot transactions of foreign exchange remittance: 36 exchange rates are offered for trading including 8 benchmark rates and 28 cross rates. All rates are set in base currency units of 1 except for JPY/HKD, which is set in a base currency unit of 100.

Article 11 China Merchants Bank offers favorable rates for large transactions. For details, please consult your local CMB branch.

Article 12 Due to constant fluctuations in the international market, CMB reserves the right to suspend part or the entire currency price listing and suspend trading in the event of abnormal exchange rate fluctuations.

Article 13 Orders. China Merchants Bank’s personal foreign exchange trading system offers six types of orders: market order, limit order, stop loss order, “one cancels the other” order, “If done” order or “If then” order, and cancellation order.

Article 14 The records in China Merchants Bank’s computer system concerning accepted orders, transaction times, currency pairs, exchange rates, and transaction amounts prevail.

Article 15 The China Merchants Bank’s personal foreign exchange trading service is not available on public holidays in China or on major holidays in international financial markets. China Merchants Bank reserves the right to suspend trading if an event such as a system failure occurs, and is not liable for any resulting losses.

Article 16 At present, China Merchants Bank only offers banknote service for a limited number of currencies such as USD and HKD. You can consult local CMB branches for further details. Customers who wish to withdraw other currencies must convert them into currencies that are available at China Merchants Bank.

Article 17 It is assumed that customers fully understand the above terms and enact them when trading foreign currencies. Customers are responsible for all losses due to incorrectly entering information or misunderstanding the terms herein.

Article 18 China Merchants Bank reserves the right of final interpretation of these terms. Any revisions or supplements to these terms take effect upon publication.