Index number:000014453-2017-00378 Dispatch date: 2017/06/02
Publish organization: State Administration of Foreign Exchange Reference number:
Name: Circular of the State Administration of Foreign Exchange on the Reporting of the Information on Overseas Bank Card Transactions by Financial Institutions


Circular of the State Administration of Foreign Exchange on the Reporting of the Information on Overseas Bank Card Transactions by Financial Institutions

The branches and foreign exchange administrative departments of the State Administration of Foreign Exchange in all provinces, autonomous regions, and municipalities directly under the Central Government; and the branches of the SAFE in Shenzhen, Dalian, Qingdao, Xiamen, and Ningbo, all the national banks and China UnionPay Co., Ltd.,

To enhance the monitoring and management of and safeguard the order of overseas bank card transactions, the State Administration of Foreign Exchange (SAFE) decides to organize the collection of the information on overseas bank card transactions in accordance with the Regulations of the People's Republic of China on Foreign Exchange Administration and the Measures for Declaration of Balance of Payments Statistics. Relevant issues are notified as follows:

I. Scope of collection

The overseas cash withdrawals and consumption via domestically-issued bank cards do not include bank card-based overseas transactions by non-banking payment institutions.

 (I) The overseas cash withdrawals via a bank card refer to cash withdrawals from the counters and ATMs of overseas financial institutions via domestically-issued bank cards.

(II) Overseas consumption via a bank card refers to the a single consumption transaction worth the equivalent of more than RMB 1,000 (exclusive) with overseas brick-and-mortar stores and online franchise merchants via a domestically-issued bank card.

The domestically issued bank card herein refers to the bank card issued within China with labels of bank card clearing institutions by a domestic card issuing financial institution (card issuing bank), including but not limited to debit card, and credit card (quasi-credit card and credit card).

II. Reporting entity

A card issuing bank shall summarize and report all the overseas transaction information via the bank cards it issued per legal person or per head office.

Where the information on overseas transactions via the debit card and credit card issued by a card issuing bank is not eligible for consolidated reporting, the card issuing bank could report the information separately.

III. Time of reporting

The card issuing bank shall report the overseas transactions via the bank card it issued for 24 hours of the previous day before 12:00 at noon every day, Beijing time, which will not be postponed during holidays.

The collection will start from September 1, 2017, with the information for the day reported on September 2 for the first time.

IV. Channel of reporting

The SAFE will launch the foreign exchange administration system for overseas bank card transactions (herein after referred to as bank card management system) on September 1, 2017 to collect the information on overseas bank card transactions through data interface or screen.

For data interface, the card issuing bank develops the programs for data interface and uses the message transport system (MTS) of the SAFE for the connection with the bank card management system to report and receive the information on overseas bank card transactions. In the screen model, the card issuing bank logs on to the webpage of the bank card management system to report and receive the information on overseas bank card transactions.

In principle, any card issuing bank that is qualified for operating foreign exchange settlements and sales shall ensure the connection with the bank card management system through interfacing; while any card issuing bank that is disqualified for operating foreign exchange settlements and sales shall ensure the connection with the bank card management system via interfacing or screen. The card issuing bank shall access the SAFE's external access network through the private wires for the connection.

V. Requirements on reporting

Any card issuing bank shall report the information on overseas bank card transactions in the factor and format stipulated by the SAFE (see the Appendix 1: Rules for Collecting the Data on Overseas Bank Card Transactions for more details).

(I) The card issuing bank shall ensure the timeliness, integrity and accuracy of the information reported. In case of information errors or omissions due to reversal and misstatement, the card issuing bank is required to timely modify the information and supplement the accurate information.

(II) The zero reporting system will be adopted for the reporting. Any card issuing bank who has the overseas card bank transaction function shall report the information as required and conduct zero reporting in case that no overseas card bank transaction has occurred.

VI. The overseas bank card transactions reported by the card issuing bank shall be included in the assessment of banks involved in the execution of the regulations for foreign exchange administration. Any card issuing bank that fails to report as required will be subject to relevant regulations and punishments by the SAFE in accordance with the law.

VII. To guard against cross-border money laundering and other illicit activities, the SAFE will send to the card issuing banks via the bank card management system the information on individuals involved in overseas bank card transactions and other behaviors that violate regulations. The channels to send the information are the same as those through which the information on overseas bank card transactions is reported. Upon receipt of the information, the car issuing bank shall intensify the day-to-day monitoring and management of overseas bank card transactions, preventing bank cards from becoming the transaction channels for various behaviors that violate laws and regulations.

VIII. The SAFE will ensure the security of the cardholder's information identified from the information on the overseas bank card transactions reported by the card issuing bank, in accordance with the law.

IX. The card issuing bank shall complete the technical adjustment of its bank card system in time. In accordance with the Schedule for the Launch of the Foreign Exchange Administration System for Overseas Bank Card Transactions (seen Appendix 2) and the Circular of the State Administration of Foreign Exchange on the Operating Procedures for the Collection of Foreign Exchange Data by Financial Institutions (Huifa No. 44 [2015], hereinafter referred to as Operating Procedures), the card issuing bank shall ensure preparatory tasks ranging from application for the codes of financial institutions, network access, installation and access of MTS, development of interface programs, joint debugging and testing, and system access. The interface joint debugging, interface acceptance and access for trial run of the bank card management system will be otherwise noted.

The card issuing bank shall submit the Business Survey Form for Overseas Bank Card Transactions (seen Appendix 3) to the local SAFE branches and foreign exchange administrative departments (hereinafter referred to as SAFE branches) before June 12, 2017. SAFE branches shall summarize and submit the forms to the Balance of Payments Department of the SAFE before June 14 (rate@bop.safe).

X. SAFE branches shall set up a construction team for the bank card management system comprised of BUs and technical departments and are required to report the contact information of the team to the Balance of Payments Department of the SAFE (rate@bop.safe) before June 5. SAFE branches shall also arrange for the work relating to the bank card management system of the card issuing banks within their jurisdiction in line with the responsibilities defined in the Operating Procedures, and evenly allocate the tasks ranging from code application of financial institutions, network access, and MTS installation and access, to joint debugging and testing, and system acceptance based on the schedule for system launch and the realities of the regions, and formulate the Worksheet of the Foreign Exchange Administration System for Overseas Bank Card Transactions (see Appendix 4) and submit it to the Science and Technology Department of the SAFE (app@ic.safe) before June 14.

During the implementation, SAFE branches shall collect and review the applications of the card issuing banks within their jurisdictions and submit them to the Science and Technology Department of the SAFE, based on the time requirements of the Worksheet, and urge and coordinate the card issuing banks in completing relevant work and regularly report it to the Science and Technology Department of the SAFE.

XI. This Circular will come into force as of the date of promulgation. Starting from September 1, 2017, of the access data on the individuals' foreign currency banknotes, those that involve the overseas withdrawals of foreign currency banknotes will not be reported any more (see the Circular of the State Administration of Foreign Exchange on Issuing the Standards Version 1.1 for Collecting Data on Foreign Exchange Transactions by Financial Institutions (Huifa No. 22 [2016]) for details).

Upon receipt of this Circular, SAFE branches shall immediately forward it to the central sub-branches, urban commercial banks, rural commercial banks, wholly foreign-funded banks, Chinese-foreign equity joint venture banks, branches of foreign banks and rural cooperative financial institutions and village and town banks within their respective jurisdictions.

Business contact number: 010-68402399

Technical contact number: 010-68402022, 2043 (for private wire access)

010-68402424 (for access to MTS)

010-68402417, 2674 (for collection standardization and joint debugging for data reporting)

 

Appendices: 1. Rules for Collecting the Data on Overseas Bank Card Transactions

2. Schedule for the Launch of the Foreign Exchange Administration System for Overseas Bank Card Transactions

3. Business Survey Form for Overseas Bank Card Transactions

4. Worksheet of the Foreign Exchange Administration System for Overseas Bank Card Transactions

 

State Administration of Foreign Exchange

May 26, 2017




相关信息:
                 
State Administration of Foreign Exchange
Addess:Huarong Plaza, No.18 in Fucheng Road, Haidian District, Beijing
Postcode:100048 Informants'hot-line telephone:+86-10-68402265