The following transaction-level fields apply to all USD payments to China via CFXPS (China Foreign Exchange Payment System).
To find the SWIFT/BIC code for the destination bank, use the Bank Codes lookup.
USD payments to China via CFXPS are subject to compliance review by the beneficiary's bank before funds are released to the beneficiary's account. After a payment reaches COMPLETED status (meaning funds have been forwarded to the beneficiary's bank), the beneficiary's bank will contact the beneficiary directly to collect supporting documentation.
This process is outside Ripple's control and no SLA applies. Settlement from the beneficiary's bank to the beneficiary's account may take 2–3 business days or longer, depending on when the beneficiary provides satisfactory documentation. Set expectations with your beneficiaries accordingly.
| Field | Description | Required | Type | Constraints |
|---|---|---|---|---|
purposeCode | Purpose of payment | Required | ENUM | See valid values below |
| Code | Description |
|---|---|
GDDS | Purchase or sale of goods |
SCVE | Purchase or sale of services |