How do I find a reserve fund account (备付金账户) for my RMB bank transfer?

If the receiving bank in your Flywire Payment Instructions is listed as “支付机构备付金集中存管账户” or “备付金账户”, follow this guide to find the relevant option in your banking app and complete your transfer.

A reserve fund account is an account established by a payment institution to hold funds in accordance with regulatory requirements. If this account type appears in your Payment Instructions, use the account details provided there to complete your transfer.

Before you make your payment

Open the Payment Instructions for your current Flywire payment and check the beneficiary name, account number, receiving bank, and payment amount in RMB. If your bank asks for the account’s province, city, branch, or receiving institution, use the details in these Payment Instructions.

In this guide, “Payment Instructions” refers to the instructions for your current Flywire payment.

Recommended banks

• China Merchants Bank (招商银行)
• Industrial and Commercial Bank of China (中国工商银行)
• Agricultural Bank of China (中国农业银行)
• China CITIC Bank (中信银行)
• Ping An Bank (平安银行, formerly Shenzhen Development Bank)
• China Construction Bank (中国建设银行)

To use a different bank, see “Other banks” below. If you cannot find the relevant option, contact your bank to confirm whether it supports this type of transfer. We recommend using one of the banks listed above or selecting another available payment method on the Flywire payment page.

China Merchants Bank (招商银行)

1. Open the banking app and select “转账” > “银行账号转账”.

Example: Open “银行账号转账”.

2. Enter the beneficiary name and account number shown in your Payment Instructions.
3. In the receiving bank list, search for “支付机构” and select “支付机构备付金集中存管账户”.

Example: Search for and select the reserve fund account option.

4. If asked to select a province, city, or branch, choose the location and reserve fund account specified in your Payment Instructions.

Example: Select the reserve fund account specified in your Payment Instructions.

5. Enter the payment amount and any payment reference required by your Payment Instructions, then select “下一步”.
6. Review the beneficiary details and amount, then follow your bank’s prompts to complete verification and make the transfer.

Industrial and Commercial Bank of China (中国工商银行)

1. Open the banking app and select “转账汇款” > “境内汇款”.
2. Enter the beneficiary name and account number shown in your Payment Instructions.
3. Under “银行”, search for “支付机构” and select “支付机构备付金集中存管账户”.

Example: Search for the receiving bank option.

4. Enter the payment amount and any payment reference required by your Payment Instructions, then select “下一步”.
5. If asked to select “开户网点”, first select the city shown in your Payment Instructions, then choose the corresponding reserve fund account.

Example: Select the city shown in your Payment Instructions.

Example: Select the corresponding reserve fund account.

6. Review the beneficiary details, branch, and amount. Select “确定”, then follow your bank’s prompts to complete verification and make the transfer.

Agricultural Bank of China (中国农业银行)

1. Open the banking app and select “转账” > “账号转账”.
2. Enter the beneficiary name and account number shown in your Payment Instructions.
3. Under “收款银行”, search for “支付机构” and select “支付机构备付金集中存管账户”.

Example: Select the receiving bank option.

4. Enter the payment amount and any payment reference required by your Payment Instructions, then select “下一步”.
5. If “省市网点” appears, select the province, city, and corresponding reserve fund account shown in your Payment Instructions.

Example: Check the province, city, and branch details.

6. Review the beneficiary details and amount, then follow your bank’s prompts to complete verification and make the transfer.

China CITIC Bank (中信银行)

1. On the banking app’s home page, select “转账”, then “银行卡转账”.

Example: Open “银行卡转账”.

2. Enter the beneficiary name and account number shown in your Payment Instructions.
3. Under “收款银行”, search for “支付机构” and select “支付机构备付金集中存管账户”.

Example: Search for and select the reserve fund account option.

4. Enter the payment amount and open “补充收款人信息”.

Example: Expand the city and branch options.

5. Select “开户城市” according to your Payment Instructions, then choose the corresponding reserve fund account under “开户网点”.

Example: Select the branch specified in your Payment Instructions.

6. Enter any payment reference required by your Payment Instructions and select “下一步”. Review the beneficiary details and amount, then follow your bank’s prompts to complete the payment.

Ping An Bank (平安银行, formerly Shenzhen Development Bank)

1. Open the bank transfer page and select “银行账号转账”. In some versions, this may appear as “账号转账”.

Example: Open “银行账号转账”.

2. Enter the beneficiary name and account number shown in your Payment Instructions.
3. Under “开户行”, search for the reserve fund account name specified in your Payment Instructions and select the matching option.
4. If asked for the account location or branch, use the details in your Payment Instructions.

Example: Search for and select the specified reserve fund account.

5. Enter the payment amount and any payment reference required by your Payment Instructions, then select “下一步”.
6. Review the beneficiary details and amount, then follow your bank’s prompts to complete the payment.

China Construction Bank (中国建设银行)

1. Open the banking app and select “转账汇款” > “向支付机构付款”.

Example: Open “向支付机构付款”.

2. Under “收款机构”, search for the receiving institution specified in your Payment Instructions and select the matching institution.
3. If the same institution appears under both “银联” and “网联”, you can select either option.

Example: Search for the receiving institution and select a payment channel.

4. Follow the on-screen prompts to enter the beneficiary details, payment amount, and any payment reference required by your Payment Instructions.
5. Review the details, then follow your bank’s prompts to complete verification and make the payment.

Other banks

Support for this type of transfer varies by bank. You can follow the steps below to look for the relevant options. If you cannot find them or continue with the transfer, contact your bank for assistance.

1. Open your banking app and select “银行转账” or “账号转账”.
2. Enter the beneficiary name and account number shown in your Payment Instructions.
3. Search for “支付机构备付金集中存管账户” in the receiving bank list. Some banks may display this as “支付机构备付金集中存管户”.
4. If you cannot find this option and your Payment Instructions specify “其他991”, select that option.
5. If asked for the account’s province, city, branch, or receiving institution, enter or select the details in your Payment Instructions.
6. Enter the payment amount and any payment reference required by your Payment Instructions. Review all details, then follow your bank’s prompts to complete the transfer.

After you complete the transfer

After you make the bank transfer, your payment request information and uploaded documents will undergo a foreign exchange compliance review by our licensed partners within 1–2 business days (excluding weekends and public holidays). Once verified, your payment status will be updated, and both you and your institution will be notified. If your verification fails, Flywire will contact you via email or phone for the next steps.

Frequently asked questions

Why do I need to transfer funds to a payment institution reserve fund account (备付金账户）?

Under relevant regulations of the People’s Bank of China, customer reserve funds received by payment institutions must be fully deposited into centralized reserve fund accounts and managed separately from the payment institution’s own funds.

This centralized management helps prevent customer funds from being misused and places the reserve funds under the supervision of the People’s Bank of China, helping protect customer funds.

Therefore, if your Flywire Payment Instructions show a reserve fund account, please use the account details provided in your current Payment Instructions to complete the transfer.

For more information, you can visit the People’s Bank of China website to review the relevant regulations.

Why doesn’t the receiving bank name show “People’s Bank of China”?

Although customer reserve funds are deposited into centralized reserve fund accounts under the People’s Bank of China system, the receiving bank name shown in your banking app may not directly display “People’s Bank of China”.

Depending on your bank’s system, you may see “支付机构备付金集中存管账户”, “支付机构备付金集中存管户”, or another reserve fund account name specified in your Payment Instructions.

Please follow the receiving bank, branch, and account information shown in your current Flywire Payment Instructions.

What should I do if I cannot find “支付机构备付金集中存管账户”?

First, try searching for “支付机构备付金集中存管账户” or “支付机构备付金集中存管户” in the receiving bank or branch list.

If your Flywire Payment Instructions indicate that you can use “其他991” and the relevant reserve fund account option is not available in your banking app, select “其他991” as instructed.

“其他991” is an option used by some banking systems to identify this type of reserve fund account and is associated with the relevant bank code or interbank routing code used for payment institution reserve fund accounts. The wording may vary between banking apps, so please follow the instructions shown in your current Flywire Payment Instructions.

If you still cannot find the appropriate option, contact your bank or Flywire Support to confirm the available transfer method.