Different international settlement methods charge different fees. You can check the bank fee rates with the relevant banks.
Take Bank of China as an example. Log in to the Bank of China website and find the Bank of China Service Price List in “More” in the “Service Price List Announcement” box on the homepage (this list is updated in real time, and the following is the content released on August 1, 2022). Find it in “Settlement and Cash Management” and “Trade Services” in “Corporate and Financial Institutions Customer Service Fees”:
1. T/T Remittance (Outbound Remittance)
Telegraphic transfer is 1‰ of the remittance amount, with a minimum of 50 yuan and a maximum of 1,000 yuan, plus telecommunications fees. Mail transfer and bill transfer are 1‰ of the remittance amount, with a minimum of 100 yuan and a maximum of 1,200 yuan, plus postage (if any).
Remittance modification, refund, and bill loss payment are 100 yuan per transaction, plus telecommunications fees.
2. Import Collection
Service Content: According to the entrustment of the entrusting bank, the service of delivering the documents to the payee according to the instructions.
Charge Standard: 1‰ of the import collection amount, with a minimum of 200 yuan and a maximum of 2,000 yuan.
3. L/C
Service Content: Provide import L/C service.
Charge Standard: 0.05%~1% of the opening amount (the specific rate is determined according to business risks, guarantees, etc.); 30% of the first quarter fee will be added for each quarter with a validity period of more than one quarter; if the validity period is less than one quarter, it will be calculated as one quarter. If the total fee is less than 500 yuan, it will be charged at 500 yuan.
This fee is usually borne by the importer. If the contract stipulates, it is borne by the exporter. The fee usually borne by the exporter is the fee for bank negotiation.
The price of international settlement service under cross-border RMB settlement is implemented in accordance with the above standards. The cross-border RMB remittance fee is implemented in accordance with the remittance fee for outbound remittance, plus telecommunications fees.