Rules for Large Amount Remittances
In order to reduce the risk of fraud and protect the security of your funds, the following large amount remittance rules will apply to your remittances made through the "Large Amount Remittance" function, in additional to the Panda Remit Terms of Use.
1 Cooling-off Period
In order to ensure the safety of your funds, your remittance made through the "Large Amount Remittance" function will be subject to a cooling-off period, that is, the remittance you make to your own account will be settled to your receiving account at the end of a 24 hours’ period after receiving your remittance amount. If you send money to an account other than your own account, we will settle it to the recipient's account designated by you at the end of a 72 hours’ period after receiving your remittance amount.
2 Reference exchange rates
The "Current Reference Exchange Rate" you see on the remittance page is the reference exchange rate between your remittance currency and the specified receipt currency provided by Panda Remit when you initiate the remittance. These exchange rates may fluctuate during the cooling-off period, so please pay close attention to the same. At the end of the cooling-off period, if you do not request a refund, Panda Remit will convert your remittance currency to the receipt currency at the then prevailing exchange rate and settle it to the recipient's account, and display the received amount and the applicable actual exchange rate on your remittance order processing page.
3 Refund proceeding fee
If you decide to terminate your remittance and request a refund for any reason during the cooling-off period, we will charge a refund fee for the refund amount as shown in the "Refund Fee" section on the remittance page. We will deduct these fees from the amount you are refunded, so the amount you actually receive will be less than the amount you sent. The amount of such refund is estimated to be settled to your payment account within 3-7 working days after you confirm the refund, but in case of holidays, such refund time will be postponed accordingly.
4 Other
For other rules and procedures related to large amount remittance, please refer to the relevant content of the Panda Remit APP or website. The instructions and requirements in these rules/procedures will likewise form an integral part of the Terms of Use for the Large Amount Remittance product.
Risk Warning about Anti-fraud and Gambling
Recently, telecommunications network fraud and cross-border gambling cases have been frequently discovered, which seriously endanger the safety of people's property and legitimate rights and interests, and harm social integrity and social order. Panda Remit hereby reminds you: online remittance needs to be vigilant, fraud reminder should not be ignored, online gambling should not participated, anti-fraud shall be born in mind.
1. Common fraud methods
1.1 Fraud by Impersonating the officer of Police, Procuratorate or Court
Fraudsters impersonate officer of Police, Procuratorate or Court to call the victim, demanding that the victim's funds be transferred to a so-called "safe account" to cooperate with the investigation, citing the victim's identity information being stolen and suspected of money laundering crimes.
Anti-fraud tips: Officer of Police, Procuratorate or Court who deals with cases will notify the parties to go to the law enforcement venue, presenting their documents and going through the legal formalities. Anyone who requests a transfer or remittance without meeting or completing the relevant procedures shall refuse it.
1.2. Fraud by Medical insurance and social security
Fraudsters pretending to be staff of social security and medical insurance centers, falsely claiming that the funds of the victim's social security card and medical insurance card are abnormal and may be suspected of committing a crime, so as to trick them into transferring funds to a "safe account" or their third-party payment account and then to a designated bank account to defraud the funds.
Anti-fraud tips: When receiving such calls and text messages, please first consult with medical insurance, social security and other institutions for verification.
1.3. Fraud by Purchase Agent
Fraudsters pretend to be regular merchants in the WeChat Circle of Friends, using discounts, overseas purchases, etc. as bait, and after the buyer pays, they demand payment on the grounds that "the goods are detained by the customs, and customs duties must be paid", and once the purchase money is obtained, they will block and can no longer be contacted.
Anti-fraud tips: Please use the channels of regular online shopping platforms for online shopping.
1.4. “Like” Fraud
Fraudsters impersonate merchants to publish "like and reward" information, ask participants to send personal information such as names and phone numbers to WeChat and other platforms, collect personal information, make phone calls to claim that they have won the reward, and then commit fraud in the form of "handling fees" and "security deposits".
Anti-fraud tips: When encountering such things, do not transfer money, do not send money.
1.5. Refund Fraud
Fraudsters impersonate the customer service of online shopping platforms to make phone calls or send text messages, falsely claiming that the goods taken by the victims are out of stock and need to be refunded, and require the purchaser to provide bank card number, password and other information to commit fraud.
Anti-fraud tip: In such cases, please do not believe it, and contact the seller directly to verify.
1.6. Phishing website fraud
Fraudsters require victims to log in to fake phishing websites on the grounds of bank online banking upgrades or low-price selling, and then obtain victims' bank card numbers, online banking passwords, transaction verification codes and other information to commit crimes.
Anti-fraud tips: phishing websites often have only very small differences from the official websites, please carefully identify and compare. If you are unsure, please check with the customer service of the bank or enterprise.
1.7. Fraud by “Order Brushing”
Order Brushing refers to the store's owner pays certain amount to ask someone to pretend to be a customer and buy the store's goods, promising to return the principal and rebate later. Generally, the "buyer" pays the payment in advance to increase sales and credibility for the seller's online store, and fills in false positive reviews, and the seller promises to return the principal and rebate in time. Actually, after "buyer" put the order and made the payment, the fraudster does not return the principal or returns small cashback but fails in large amount cashback, as well as using other serial tricks to defraud the "buyer" funds.
Anti-fraud tip: It's clear that the act of “order brushing” is itself fraudulent. Brushing orders is a pretense, and cheating money is the real purpose. Do not believe the part-time advertisements on the Internet such as "stay at home, make money every day" and "make money easily", and firmly refuse any part-time work that requires advance funds.
2. Refuse cross-border gambling
2.1. The main manifestations of offline overseas gambling
(1) The temptation of "free" and "profiteering" to solicit domestic personnel to gamble abroad or provide services for overseas gambling. Criminals defraud by ways of providing
free immigration services, free round-trip air tickets, free food and lodging, and free travel, high-reward work, development of profiteering cooperation projects and so on.
(2) By using "SMS", "WeChat", "QQ", "black link" and other publicity and promotion methods to lure gambling and gamble. Criminals set up servers abroad, set up gambling websites, and use mass text messages, WeChat groups, QQ groups to attract traffic and other means to lure people to gamble.
2.2. Common methods of cross-border online gambling
(1) Give a small profit first, so that the gambler "loses the big because of the small."
In the early stage, criminals let gamblers win mostly, or "send red envelopes" for rewards, etc., so that gamblers have the idea of "easy to make money", addicted while increasing investment.
(2) Backend fraud, artificial manipulation
Gambling websites artificially set algorithms and odds (cheating) at the system backend, so that gamblers lose more and win less.
(3) Fabricating reasons and restricting withdrawals
When gamblers want to withdraw, they restrict withdrawals under many excuses such as "hacker attacks, system failures, and account abnormalities", and unblocking withdrawals requires a high "unblocking fee"
2.3. Major harm of cross-border online gambling
Cross-border gambling is "must lose" game, and online gambling is full of traps. Participating in cross-border online gambling activities is an illegal act, and the Polices will investigate and deal with it in accordance with the law. Please consciously resist gambling abroad or online, be highly vigilant against the characteristics of new methods of online gambling, and continuously improve your awareness and ability to prevent it.
3. Prevent telemarketing fraud and stop payment safely
3.1. "Three All" to protect the safety of your funds
(1) If stranger phone calls talk about bank cards or transfer money, you shall hang up them all!
When you receive a strange phone call, regardless of whether the other party claims to be customer service, your leader, police, courts, etc., asking you to transfer money or ask you for personal information, it is a fraud, and you shall hang up.
(2) If unfamiliar links are sent by SMS, WeChat, QQ, or websites, you shall delete them all!
Order brushing and gambling are illegal acts; online stock recommendation, virtual currency investment are common tricks for fraudsters; do not download APP or fill in private information such as bank card numbers through unknown links.
(3) If transfers to "safe accounts" and "telephone transfers to the Public Security Bureau, Procuratorate, or Court" are requested, you shall reject them all!
Government departments, whether domestic or foreign, will not ask people to transfer personal assets by phone or online. Requests for transfer to a "safe account" or transfer by phone to the Police, Procuratorate or Court account are all fraud. If you have any questions or find that you may have been deceived, you can call 110 to consult and report.
3.2. To prevent telemarketing fraud, remember the "Eight Anyone"
(1) Anyone who claims to be Police, Procuratorate or Court and requests a transfer is a fraud.
(2) Anyone who claims to provide unsecured low-interest payments and makes you pay the handling fee first is a fraud.
(3) Anyone that allows you to make money for the reputation of the online store is a fraud.
(4) Anyone who notifies that your "family" suffers an accident and requests you to send money first is a fraud.
(5) Anyone requests for bank card information and verification code via the phone is a fraud.
(6) Anyone who requests you to send money to a "safe account" is a fraud.
(7) Anyone who claims to be a leader asking for remittances is a fraud.
(8) Anyone who requests you to register your bank card information on unfamiliar website is a fraud.
If you encounter suspected telemarketing fraud or cross-border gambling, please consult our 24-hour online customer service.
Note: The above Rules and Risk Warning are prepared in English language. They may be translated into other language for reference purposes only. If there’s any discrepancy between the English version and a reference version in another language, the English version shall prevail.