Regulatory Alerts2023-02-01
Added
FEPD Circular No. 01: Inward Remittance-Declaration on Form-C
Authorized Dealers may receive Form-C declarations for inward remittances through secured electronic channels, such as designated apps under internet banking networks. Authorized Dealers must execute transactions based on authenticated electronic information and obtain a printed copy signed by beneficiaries within 30 days for preservation. These electronic procedures do not apply to fund transferring Authorized Dealers handling remittances for beneficiaries with accounts at different Authorized Dealers, who must instead transfer funds immediately via the FC Clearing BD-RTGS System.
Topics
fx
payments
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