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PG – Chinese Yuan (CNH)

Chinese Yuan (CNH) Payment Guides

Overview

Payment typeSWIFT (Priority)Local (Regular)
Cut off time (UK Time)9:00 amn/a
Delivery time frame1 dayn/a
Maximum payment sizeNo limitn/a
Payment SchemeSWIFTn/a
Destination countriesAny (excluding sanctioned)n/a
TracesYesn/a
RecallsYesn/a
Ultimate payer displayed?Yesn/a

 

Required Details

SWIFT (Priority) Payments

FieldCompanyPermitted DataNotes
Beneficiary Entity Type ‘company’ onlyPlease note: CNY payments to individuals in China are not permitted.Due to restrictions imposed by our partner bank, the beneficiaries of CNY payments in mainland China must be companies incorporated in mainland China. CNY payments to all other countries can be made to beneficiaries who are either individuals or companies.
Beneficiary First Name1-255 characters* 
Beneficiary Last Name1-255 characters* 
Beneficiary Company Name1-255 characters* 
Beneficiary Address1-255 characters* 
Beneficiary City1-255 characters* 
Beneficiary Postcode1-12 characters*Only required when sending payments to Canada, Mexico and the USA.
Beneficiary State or Province1-255 characters*Only required when sending payments to Canada, Mexico and the USA.
Beneficiary Country2 letter ISO country code 
IBAN15-34 alphanumeric characters; spaces permittedIBAN must be used when sending payments to all IBAN countries. When sending to non-IBAN countries, account number must be used.
Account NumberVaries per destination countryWhen sending payments to non-IBAN countries, account number must be used. IBAN must be used when sending to all IBAN countries.
CLABE18 digitsCLABE must be used instead of account number or IBAN when sending payments in any currency to Mexico. CLABE is the banking standard for the numbering of bank accounts in Mexico (equivalent to the Account Number in other jurisdictions).
BIC SWIFTValid ISO 9362 SWIFT BIC code; 8 or 11 alphanumeric charactersBIC SWIFT must be used when sending payments to any country except the USA. When sending to the USA, ABA must be used.
CNAPS12 digitsThe CNAPS code is the domestic bank routing number used in China (equivalent to a UK sort code or US ABA number). CNAPS is only required when sending CNY payments to China. CNY payments to any other jurisdiction do not require the CNAPS code.
ABA9 digitsAmerican banks are identified by a 9 digit ABA number, also known as ‘Routing Number’. The ABA should be valid for FedWIRE payments. Some ABA values are only valid for FedACH payments. Payments to FedACH-only ABAs will fail. The ABA is required for all payments to the USA.
Payment Currency3 letter ISO currency code 
Payment AmountNumeric amount 
Payment Reference1-255 characters*Four lines, each 35 characters long.Anything over 140 characters will be truncated.
Payment Reason1-255 characters*Free text for a payment reason of your choice.
Payment Purpose CodeSee our list of available payment purpose codes here.A payment purpose code is only required for CNY payments into China, it is not required for any other destination country.
Payer Entity Type ‘company’ onlyOnly ‘company’ is supported at the current time.
Payer First Name1-255 characters* 
Payer Last Name1-255 characters* 
Payer Company Name1-255 characters* 
Payer Address1-255 characters* 
Payer City1-255 characters* 
Payer Postcode1-12 characters*Only required when sending payments to Canada, Mexico and the USA.
Payer State or Province1-255 characters*Only required when sending payments to Canada, Mexico and the USA.
Payer Country2 letter ISO country code 
Payer Date of BirthISO 8601 format (YYYY-MM-DD). 
Payer Identification Type‘incorporation_number’ only 
Payer Identification Value1-255 characters* 

* Please note that non-supported characters will be transformed to EBCDIC equivalent or removed on a best endeavors basis in order to comply with the restrictions of the SWIFT payment network. The permitted characters on the SWIFT network are letters, numbers, spaces and the following symbols:
/ – ? : ( ) . , ‘ +

Clients can make CNY payments by converting funds firstly to CNH and then to CNY. Find out more by reading our FAQ.  

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