CNY Payments Introduction

Since the CNY payment is available at Kopenhagen Fur, a lot of Chinese customers have shown much interest. We would like to make the payment process clear to you. The simplified process is as below:

 Til auction

Cross-border CNY payment is the same process as USD payment for mainland Chinese companies. The company should possess import license approved by the SAFE authority (State Administration of Foreign Exchange) for oversea fund transfer. These documents need to be presented to your bank for fund transfer:

 

1) The CNY invoices or sales contract

2) Fill out the 《Application for Funds Transfer (overseas) 》with the following bank information of Kopenhagen Fur, and apply for fund transfer at your own bank.

 

Beneficiary's Name

Kopenhagen Fur

Beneficiary's Address

Langagervej 60, 2600 Glostrup, Denmark

Beneficiary's Account No.

100201350003390

IBAN

SE9896200469201350003390

Beneficiary's Bank Name

Bank of China Stockholm Branch

SWIFT

BKCHSESS

Beneficiary's Bank Address

Birger Jarlsgatan 28, 114 34 Stockholm, Sweden

Correspondent Bank

Bank of China Shanghai RMB Trading Unit

SWIFT

BKCHCNBJS00

 

What are the advantages of making the payment in CNY?

More convenient - No need to have foreign currencies reserves, Chinese customers can make payment directly in CNY. Besides, Bank of China has sub-branches all over China.

Easier - No exchange risk in tariff and VAT calculation. It simplifies accounting process in terms of cost, tax and tariff calculations.

Faster - cross-border CNY payment can reach Kopenhagen Fur account in only 1 banking day.