Payments in new currencies

As from May 5, 2015 the bank DNB offers to its customers an opportunity to make payments in Israeli shekels (ILS) and Chinese yuans (CNY).    

The remitters of payments in Chinese yuans are kindly asked to thoroughly read the information below.

According to regulatory enactments of the People’s Republic of China, all incoming cross-border payments in yuans (CNY) are executed if the remitter and the recipient both are legal entities and the payment is made to settle accounts for trade transactions, i.e. pay the invoices for the goods or services. 

To effect a payment in Chinese yuans (CNY), the remitter in the payment order must specify:

• The Recipient
• The Recipient’s account number
• Full name of the Recipient
• Full Recipient’s registered address
• The Recipient bank

! If the Recipient bank belongs to the Bank of China group and is located in the continental China the remitter may specify the SWIFT/BIC code of the respective subsidiary of the Bank of China.

! If the recipient bank is any other bank in China the remitter must specify the data as follows:  

• CNAPS – 14-digit code within the China National Payment System that consists of the letters  “CN” and 12 figures;
• Name of the subsidiary of the recipient bank;
• Address of the subsidiary of the recipient bank.

• Purpose. In the purpose must be specified:
  • Code of transaction; 
  • Type of gods or services;
  • Number and date of the agreement (contract);
  • Number and date of the invoice.

Example -  /GOD/ payment for books, invoice no. 345 16.17.2014, contract nr.6 01.10.2013