Businesses Pay Services:
Aiming to deliver superior service quality for all clients at every consumer touch-point, ATWEXCHANGE provides a range of money transfer services to meet all business customer needs remittances, shipment payments, import and export bills. By employing user-friendly mechanisms that promise speed, efficiency and real-time transparency, you be sure that all your money remittance and foreign exchange requirements get handled efficiently by our strong service portfolio, which includes
AtwPay is our latest offering allowing you to instantly transfer credit to banks in China, India, Philippines, Bangladesh, Nepal, Egypt and Indonesia.
Direct to Account
You can send money directly to the receiver’s bank account or use the country-specific inter-bank network to credit into any bank account in the world via ATWEXCHANGE.
Cash Pick Up
Cash pickups though our partner locations, including leading banks and money transfer companies in the receiving country.
Demand drafts to China,India, Bangladesh and Sri Lanka issued from any of our branches.
ATW as an MSO, we committed to providing professional and leading RMB payments with our mission to reinforce ATW's status as an RMB business centre.
The rapid growth of the renminbi, As one of the world's fastest growing economies,the Chinese economy is projected to grow at 7.5% p.a. until 2015, Meanwhile over the past 10 years, the renminbi has risen by more than 35% against the US dollar and pound sterling, and about 10% against the euro
Global financial systems are changing and HSBC forecasts that by 2015 China will settle 30% of its trade in RMB, equivalent to USD 2 trillion, there by joining the US dollar and euro one of the world's top global trading trading currencies.
RMB (Renminbi) is the official currency of the People’s Republic of China (“PRC”). RMB meant in here is the currency coded as CNY, which is traded outside the PRC.
Terms and Conditions
RMB with code CNY following Terms and Conditions:
Customers may not deposit RMB denominated notes in your RMB Accounts. All RMB placements in your RMB Accounts shall be done by:
Cash deposit in GBP, SGD or USD or other FCY accepted by Banks to be then converted into RMB at the market’s prevailing exchange rate; or
An inward telegraphic transfer of RMB from an account outside of the PRC; or
An inward over booking from atw’s account with GBP, SGD or USD currency or ATW’s account with other currency that ATW has to be then converted into RMB at the Bank’s prevailing exchange rate. You may not withdraw RMB denominated notes from your RMB Accounts. All withdrawals of RMB from your RMB Accounts may be made by:
Converting the RMB into a non-RMB currency selected by you that is freely convertible and available, at the Bank’s prevailing exchange rate and subject to the Bank’s prevailing commission and/or service charges; or
an outward telegraphic transfer of RMB to an account located outside the PRC as designated by the ATW or
Withdrawals in GBP, SGD,USD or other denominated notes, at the ATW’s prevailing exchange rate and subject to the ATW’s prevailing commission and/or service charges.
Withdrawals in demand drafts denominated in a non-RMB currency that is freely convertible and available, at the ATW’s prevailing exchange rate and subject to the ATW’s prevailing commission and/or service charges.
ATW may proceed an outward telegraphic transfer of RMB on your behalf on condition that:
Beneficiary’s account is with a bank located outside the PRC that is acceptable to the bank in its sole discretion; and
The RMB are debited from your RMB Foreign Currency Accounts.
ATW may accept an inward telegraphic transfer of RMB on your behalf on condition that
Such transfer of RMB is affected from an account outside of the PRC; and
Such RMB are credited directly into your RMB Foreign Currency Accounts.
Notwithstanding the above, ATW has the right at any time to reject, refuse or reverse an RMB telegraphic transfer (whether in whole or in part) effected on your behalf
For compliance with any prevailing laws, regulations, guidelines, restrictions, administrative rules or direction ; or
If the relevant correspondent bank, paying or agent bank recalls or claims a refund or repayment of the RMB transferred to you following the agreement between sender and paying bank or
if the relevant correspondent bank, beneficiary or agent bank rejects or fails to accept an outward telegraphic transfer of RMB by you.
In the event that the availability, credit or transfers of RMB are restricted, suspended or prohibited by any judicial, governmental or regulatory authority, agency or body, the ATW shall have no obligation whatsoever to:
pay the RMB whether by way of draft or cash or by any other means in RMB or other currency to you (in the case of an inward telegraphic transfer of RMB) or the beneficiary (in the case of an outward telegraphic transfer of RMB) or
In the case of an outward telegraphic transfer of RMB, return the RMB to your RMB Accounts, as the case may be, until such RMB funds are refunded to and received by the ATW.
RMB Convertibility and Transferability Restrictions.
As RMB is currently not a freely convertible currency and transfers of RMB to and from the PRC are restricted, conversion of RMB and RMB telegraphic transfer through the ATW is dependent on the availability of RMB outside of the PRC and may be subject to restrictions prevailing at the relevant time.Exchange Rate Risk.
You are subject to RMB exchange rate risk as you are required to convert a non-RMB currency into RMB to effect a RMB deposit placement and you may only withdraw your RMB deposit in a non-RMB currency. You could therefore potentially receive less than the full value of the original amount used for the RMB deposit placement at the time of withdrawal.
For RMB payments please write us on email@example.com