According to regulations in Taiwan, China, the recipient must complete identity verification and comply with foreign exchange remittance reporting in order to successfully receive the transfer.

Two Reporting Methods are Supported:

Online Reporting: only available for transfers to KGI Bank

Offline Reporting: Applicable for recipients at banks other than KGI Bank; you need to visit your chosen bank branch to complete the reporting

Standard Process for Online Reporting:

1. The bank will send reporting-related notifications via the email, SMS, or in-app messages you have registered with Panda Remit. Please check them carefully.

2. View your cross-border remittance records in the KGI Bank app.

3. Complete the fund unlock by following the instructions in the KGI Bank app.

Standard Process for Offline Reporting:

Recipients are required to visit their bank branch within 15 days to complete the remittance form and submit the cross-border funds reporting.

Sample Remittance Form:

Notes:

Both online and offline reporting are available from 9:00 to 15:30 local time (excluding public holidays and weekends)

The reporting period is valid for 15 days. Orders exceeding the validity period will be closed, so please pay attention to the reporting deadline

Fees for each reporting method are as follows:

Transfers to KGI Bank accounts: No cross-border or interbank fees in Taiwan.

Transfers to other bank accounts:

    - Cross-border incoming remittance fee: 0.05% of the transfer amount per transaction, with a minimum of TWD 200 and a maximum of TWD 800.

     - Interbank transfer fee in Taiwan: TWD 30 per transaction.

Fund Arrival Time:

The time for funds to arrive mainly depends on the processing efficiency of the recipient’s bank. For faster receipt, it is recommended that recipients use a KGI Bank account; transfers to other banks may take 3–5 business days.