Why does the sending bank of Bank of China have no authority

The sending bank does not have permission, which means that the transfer out of this amount through online banking is unsuccessful, and the previously deducted amount will be returned to your account. The reason may be that the other party's account number or the payee's name are inconsistent. When handling the return of foreign exchange, the remitter must reach an agreement on the return of foreign exchange with the payee who opens an account with the remitting bank.

Why does the sending bank of Bank of China have no authority

Expansion materials:

Bank of China is a note issuing bank in Hong Kong and Macao. Its business scope covers commercial banks, investment banks, funds, insurance, air leasing, etc.

Why does the sending bank of Bank of China have no authority

Bank of China is the only bank in China that has been operating continuously for more than 100 years. It is also the bank with the highest degree of internationalization and diversification in China. The institutions cover the mainland of China and 61 countries and regions, including BOC International, BOC investment, BOC fund, BOC insurance, BOC aviation leasing, BOC consumer finance, BOC financial business, BOC Hong Kong and other holding financial institutions. In 2018, Bank of China was once again selected as a global systemically important bank, becoming the only financial institution selected in emerging market economies for eight consecutive years.

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