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Notice to Foreign Remittance / Foreign Currency Exchange Customers and Request for Confirmation

2020年12月01日

Higo Bank is strengthening its prevention system to anti money laundering and terrorist financing (hereinafter referred to as “Manelon /Terrorist Financing”).
We have confirmed that this transaction is not in violation of the “Foreign Exchange and Foreign Trade Law” (so called Foreign Exchange Law) and other laws.
We ask for your understanding and cooperation in strengthening the management system for Manelon / Terrorist Financing.

1.Time limit for transmission on the day

Transaction type Bank counter Forex BIB
Foreign remittance(Yen-based) On the next business day AM10:00
Foreign remittance(foreign currency-based) AM12:00 AM12:00
Domestic remittance(foreign currency-based) AM11:00 AM10:00
  • Please note that the yen-based remittance will be dealt in the next business day.
  • The foreign currency-based remittance will be dealt in the next business day when the time limit exceeded.
  • The time limit on the day will be based on the time when our confirmation procedure is completed.

2.Dealing branch for foreign remittance / foreign currency exchange (Alphabetical order)

Foreign remittance (38 Branches) Foreign Currency Exchange
(19 Branches)
1 Amakusa Branch 20 Miyazaki Branch 1 Amakusa Branch
2 Arao Branch 21 Nagasaki Branch 2 Head office
3 Fukuoka Branch 22 Oguni Branch 3 Hikarinomori Branch
4 Head office 23 Oita Branch 4 Hitoyoshi Branch
5 Hikarinomori Branch 24 Omine Branch 5 Kengun Branch
6 Hitoyoshi Branch 25 Omuta Branch 6 Kikuchi Branch
7 Kagami Branch 26 Osaka Branch 7 Kitakumamoto Branch
8 Kagoshima Branch 27 Ozu Branch 8 Matsubase Branch
9 Kencho Branch 28 Ryutsudanchi Branch 9 Minamata Branch
10 Kengun Branch 29 Suidocho Branch 10 Miyaji Branch
11 Kikuchi Branch 30 Suizenji Branch 11 Ozu Branch
12 Kitakumamoto Branch 31 Takamori Branch 12 Ryutsudanchi Branch
13 Kitakyushu Branch 32 Takuma Branch 13 Suidocho Branch
14 Kurume Branch 33 Tamana Branch 14 Suizenji Branch
15 Matsubase Branch 34 Tokyo Branch 15 Takuma Branch
16 Minamata Branch 35 Ueki Branch 16 Tamana Branch
17 Minamihakata Branch 36 Uto Branch 17 Ueki Branch
18 Minamikumamoto Branch 37 Yamaga Branch 18 Yamaga Branch
19 Miyaji Branch 38 Yatsushiro Branch 19 Yatsushiro Branch

3.Precautions

(1)Acceptance of cash (or payment / transfer within one week before remittance)

In principle, we will refuse to accept foreign remittances using cash (and deposits / transfers within one week prior to remittance) as the source of remittance.

(2)About countries and regions where cannot be remitted

In principle, we will refuse to accept foreign remittances sending to the following countries and regions.

Target country and region(Country name is abbreviation)
Asia 3 provinces in China (JILIN、LIAONING、HEILONGJIANG)、Cambodia、Mongolia、Myanmar、North Korea、Pakistan
Europe Albania、Belarus 、Iceland、Russia 、Ukraine(Crimea region)
Latin America Bahamas、Barbados、Cuba、Haiti、Jamaica 、Nicaragua、Panama、Venezuela
Middle Eastern countries Afghanistan、Iran、Iraq、Lebanon、Syria、Yemen
Africa Botswana、Burundi、Central African、Congo、Ghana、Libya、Mali、Mauritius、Somalia、South Sudan、Sudan、Uganda、Zimbabwe

(3)Transactions prohibited by relevant laws and regulations

After confirming that the requested foreign remittance does not correspond to the following regulations, we ask you to enter a check(☑)in the designated field on the “Foreign Remittance Request Form”.

①Foreign remittances related to trade restrictions with North Korea and Ukraine
(Relevant laws: Foreign Exchange Law)

A Related to import or intermediary trade of all cargo originating or shipping from North Korea

B Related to intermediary trade of cargo shipping to North Korea

C All cargo imports from Ukraine (only in the cases that Autonomous Republic of Crimea or Sevastopol Special City is the place of origin)

②Foreign remittance related to North Korea / Iran-related funds usage regulations
(Relevant laws: Foreign Exchange Law)

A Conducted for the purpose of contributing to "Activities that can contribute to North Korea's nuclear-related plans, etc."

B Conducted for the purpose of contributing to "Activities that can contribute to Iran's nuclear activities"
Conducted for the purpose of contributing to "Activities related to the supply of large conventional weapons to Iran"

③Transactions related to “U.S. OFAC regulations”
(Relevant laws: US laws and regulations, OFAC: Office of Foreign Assets Control)

A Transactions that include North Korea, Iran, Cuba, Syria, Sudan, the Crimea region of Ukraine, etc. for the location, country or relevant place of parties concerned(* Note)

B Transactions involving terrorists, drug traders, weapons of mass destruction traders, multinational criminal syndicates, etc. identified by the US government

C Transactions that are not US dollar-based but correspond to (1) or (2) of the above, and correspond to followings;
US financial institutions (including non-US financial institutions located in the US such as branches in the US and base outside the US of financial institutions with main office in the US), US corporations (including US-based corporations outside the US), Transactions involving US nationals, persons in US (including foreign corporations and foreigners in the United States)

D Other Iran-related transactions designated by OFAC as subject to secondary sanctions

(*Note) “Parties of the transaction” refers to the sender, receiver, importer, exporter, consignee, bank, ship company, airline, transport ship, aircraft, unloading / loading company, terminal involved in the transaction, or the owner / operator (operating company) of the wharf. “Relevant place” refers to the place of origin, shipping place, unloading place, destination, and ship registry.

  • Even after receiving a transaction, if there is a risk of conflicting with the OFAC regulations, we will confirm the details of the transaction, and depending on the result, the transaction may be canceled.
  • A US financial institution may conduct its own independent survey
  • In the case that assets are frozen due to OFAC regulations, we will not be able to return the funds deposited as an alternative to the transaction. Please be aware that it is necessary for the customer to take appropriate action, such as applying for freeze removal to OFAC.
  • Please refer to the OFAC website for the latest info.

④Transactions related to money laundering and terrorist financing in each country
(Relevant laws: laws and regulations in each country)

⑤Foreign remittances for items that require import permission, approval, and notification
(Relevant laws: Foreign exchange law)

(4)Confirmation of transaction details

We ask you to submit confirmation documents regarding the purpose of remittance.
Please note that additional confirmation materials, etc. may be requested or remittance will be suspended or refused at our sole discretion.

①Materials to be submitted according to the purpose of remittance (example)

Purpose of remittance Example of confirmation document
Trade payment Invoices, bills of lading, Shipping documents such as packing list
Living expenses,family support Materials that can confirm the relationship with the recipient
Hospital expense Invoice
Transfer to own account Materials that can confirm that you are an account holder (cash card, etc.)
Payroll remittance Materials that can confirm the employment relationship with the recipient
Asset management Materials that can confirm the investment contract
Insurance fee Materials that can confirm insurance contract
Tuition fee Materials that can confirm attendance at school (certificate of enrollment etc.)
Management cost Materials that can confirm the contents of the managed property
Advisory fee Materials that can confirm the advisory contract

②Other matters that may be confirmed
Reason for visit to the branch, occupation, asset status, relationship with recipient, future remittance schedule, amount of money, (when the client is a corporation) Natural person who can effectively control the corporation, etc.

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