Foreign Exchange Services Designed for World Expo

Composed at June 7, 2010 - 12:17 am, filed in Travelling, from FLTA

1. Full facilitation is given to establishing and closing foreign exchange account, receipt and payment of across-border foreign exchange and other business of World Expo related account holders. Permission is granted for holders like Expo Bureau, and overseas visitors, media, and sponsors to open foreign exchange current or temporary accounts and to do foreign exchange transactions. Processes related to World Expo are simplified, including checking of Expo Bureau foreign exchange accounting vouchers, and overseas visitors’ import verification. Maximum withdrawal limit of foreign currencies is moderately raised, so is that of foreign exchange machine. Principles adhered, special foreign exchange business can be handled flexibly in special methods. Furthermore, special emergency service like massive personal foreign exchange sale and purchase business has been arranged for possible emergencies during Shanghai World Expo.

2. Further efforts have been taken to improve RMB and foreign currencies exchange service, and 3 pilot organizations have been established in Shanghai. Bank of Communications, Shanghai Branch, has been authorized with two-way exchange business between TWD and RMB. Banks are using foreign exchange machine as supplement for website and human services. To standardize foreign exchange services, a special green passage is especially established as an access to World Expo foreign exchange services, so are the unified website logos. Various channels are used to publicize the RMB and foreign currencies two-way exchange service, including distributing instruments to the public. There has been adjustment in personal foreign exchange sale and purchase business during the World Expo, such as administration of total purchase and exchange amount applying to overseas individuals.

3. Foreign exchange service is available to visitors in various ways, such as 2228 bank website for Forex purchase services, 417 foreign exchange agencies in starred hotels and malls concerning foreign business and 15 pilot websites in airports, as well as foreign exchange machines and ATM with Visa or MasterCard and other international card identifications.

4. During the World Expo, overseas individuals are applied by administration of total purchase and exchange amount, equivalent to $50,000. Purchase and exchange of less than $50,000 can be dealt with in banks with ID, while single personal sale and purchase website is temporally not available for business equivalent to less than $10,000 in bank website of World Expo site.

5. For now, foreign bankcards can be used in hotels, malls and restaurants in Shanghai, while in World Expo site, ATM and commercial tenants are also available for foreign cards.