HSBC Renminbi Transfers

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  1. #1

    Join Date
    Sep 2007
    Posts
    4,012

    HSBC Renminbi Transfers

    I am trying to transfer some RMB to an account in China, however the transfer is rejected with the following reason:

    "Remitter does not match beneficiary"

    Does this mean I can only transfer to an account in my name?

    Any help would be much appreciated.


  2. #2

    Join Date
    Jun 2009
    Posts
    117

    Yes. If you want to transfer RMB from account in HK to account in China, both account must have identical name.

    In addition, even if both AC(s) match with their Chinese name, if the spelling of both names are different, i.e., Wong VS Huang, the transfer cannot be proceeded.

    From my experience, even if the names & spelling match, sometimes transfer cannot be done due to unknown reasons;

    My advice is: try to transfer funds other than RMB to China. It's safer and much faster than transfering in RMB.

    But of course, this requires you to do exchange in China's bank.

    In addition, please also note that if you transfer fund from a multi-holder(s) A/C, i.e., 2 person holder A/C, you must transfer to an identical 2 person A/C.

    A+B = A+B

    A+B cannot be transferred either to A or B in China;

    similarly,
    A or B cannot be transferred to A+B A/C in China

    Last edited by arashikage; 01-01-2010 at 11:17 AM.

  3. #3

    Join Date
    Sep 2007
    Posts
    4,012

    Thanks for the confirmation.