A: International remittance made in foreign currencies provides you multiple benefits including control ofexchange rates for conversion, avoidance of high settlement fees, saving of processing by the overseas bank and reduction of foreign exchange risk and payment risk.

2. Can I wire Renminbi to China or Taiwan Dollar to Taiwan?

A: Due to government restrictions of these two countries, foreign nations are prohibited from making wire transfers in Renminbi and Taiwan dollar to China and Taiwan, respectively. Alternatively, remittance can be achieved by sending US dollar wire, which will be converted to the local currency, based on the rate determined by the beneficiary bank.

3. I am sending a FX wire, how long does it take for the beneficiary to receive the funds?

A: With the exception of Canada and Mexico, which take one business day, sending an FX wire to other countries requires two business days for the beneficiary to receive the funds.

4. I need to send a FX wire, but the market rate is slightly high. Can I place an order for the currencies at a set price?

A: Yes. We recommend limit order, which is an order for the purchase or sale of a currency pair. Limit order is executed when the specified rate is reached.

Foreign Currency Incoming Wire

1. My vendor remits payment to me in foreign currency, how long does it take for me to receive the credits?

A: Under standard process, remittances from Canada and Mexico should reach the beneficiary bank on the next business day, and remittances from other countries should arrive in two business days.

2. How do I find out the settlement instruction in order to receive wire in foreign currencies?

A: Since various settlement instructions are used for different currencies, you may contact our FX Services unit for the relevant wire information.

International Check Collection

1. How long do I have to wait for my check to be cleared?

A: It varies depending on the payer's bank and transaction instructions. Generally speaking, the check clearing process takes approximately two weeks. In situations where the check is not cleared after four weeks, we will conduct an investigation for settlement.

2. What happens if the check is returned?

A: The clearing of an international check is subject to due recourse, meaning that United Commercial Bank will demand payment from the check endorser upon receipt of notification of a dishonored instrument.

3. Is it possible to clear my foreign currency check to my FCDA account?

A: You may deposit the payment to your Foreign Currency demand deposit account provided that the check and the account are in the same currency.

Foreign Currency Cash Transaction

1. I do not have an account with United Commercial Bank, can I buy and sell foreign currencies?

A: Yes. Our bank tellers are able to arrange the transaction on your behalf.

2. Is there a minimum amount for ordering the foreign currencies?

A: You may order the foreign currencies in any value. However, if the total order is less than USD 250.00, the transaction is subject to a processing fee of USD 10.00.

3. How many days does it take for the delivery of FX currencies?

A: It takes two business days for standard delivery at no shipping cost. For expedited shipment, you may select standard overnight with a shipping charges for USD 10.00 or priority overnight for USD 15.00.

Foreign Currency Draft

1. What is a foreign currency draft?

A: A foreign currency draft is an irrevocable written order issued by a bank to pay a specific amount of money in a currency other than that of the country from which the draft is originated. The draft is drawn on another bank located in the country of the currency.

2. Is it possible to mail the draft to my home?

A: Yes. The draft can be sent to our residency or one of our branches at your choice for pick-up.

Foreign Currency Account

1. Do I need to maintain a minimum balance in the foreign currency demand deposit account?

A: There is no minimum balance requirement for the foreign currency demand deposit account.

2. What is the minimum balance to open a foreign currency time deposit account?

A: The minimum balance requirement is USD 25,000.00 equivalent value of the foreign currency.

3. Are the FX demand deposit account and time deposit account insured by FDIC?

A: Yes, they are. The accounts are insured by FDIC up to the maximum limit in U.S. dollar equivalent.

4. What is the benefit of opening a foreign currency demand deposit account?

A: With a foreign currency demand deposit account, you will be able to have full control of your foreign currency activities including purchase, sale, check deposit and settlement of incoming and outgoing wires. Moreover, you will eliminate the exchange conversion costs incurred on each wire transaction.

Foreign Currency Hedging

1. I am planning to send a wire in foreign currencies in a few months, how can I protect myself from adverse FX rate movement?

A: You may consider FX forward, which is a contract for the purchase or sale of currency at a fixed rate on a specified future date. The forward rate is determined by the prevailing spot rate and the forward points, which is the interest rate differentials between the countries involved. United Commercial Bank offers forward contracts up to one year from the trade date. Talk to our Foreign Exchange Advisor for more hedging options.

On-line Foreign Currency Wire

1. Is it possible to prepare a foreign currency wire after office hours?

A: No, the wire is processed between 6:30 a.m. and 1:30 p.m. PST, Monday through Friday, excluding holidays.

2. Do I receive market exchange rate for the wire?

A: Yes. The rate is subject to change based on the latest market condition.

3. How do I access the web site?

A: The United Commercial Bank On-line Foreign Currency Wire can be accessed via secured web site on PC equipped with Internet access and Web browser. For initial setup, please call (888) 798-8818.