Products of RMB Services
Click to download RMB Brochure
Corporate RMB Services
1. Corporate RMB Deposit
1) Current Account: a deposit account with no fixed term and mainly transacted through cash or transfer. It provides customers with ease of access to deposits and withdrawals
2) Time Deposit: Corporate RMB time deposit with competitive interest rates and wide choice of terms i.e. 1month, 2 months, 3 months, 6 months or 1 year, or other term according to your needs
3) Dual Currency Debit Card: The Card is supported by China Unionpay network. It allows corporate clients withdraw cash and shop in Chinese Mainland; the transactions will be settled in CNY
2. RMB International Settlement and Trade Finance Services
1) Import: Outward Remittance, Letter of Credit / Standby Letter of Credit Issuance, Import Documentary Collection, Import Loan, Usance LC, Import Factoring, Advance Payment Financing
2) Export: Inward Remittance, Letter of Credit Advising, Export Documentary Collection, Packing Loan, Export Bill Purchased / Discounting, Forfaiting, Export Invoice Financing, Export Factoring, Order Financing, Export Letter of Credit Negotiation, etc
3) Comprehensive finance services: We offer highly customized trade finance solutions structured with different treasury products, to help company to manage the RMB exchange rate and interest rate risk
3. RMB Financing
1) Overdraft: An overdraft provides customers with a direct access to funds to meet their short-term financing needs. Where there are insufficient funds to cover, customers may tap on the overdraft facility, which has a limit that is placed on their account
2) Working Capital Loan: Working capital loans are loans granted to customers to meet their daily funding needs and to ensure their normal production and business activities
3) Oversea Loan under Domestic Guarantee: Our bank may offer credit facilities secured by standby letter of credit from ICBC branches in China
4) Domestic Loan under Oversea Guarantee: ICBC branches in China may offer credit facilities secured by standby letter of credit from our bank
4. RMB Foreign Exchange Products
1) RMB spot exchange: Simple, secure and convenient way for businesses to conduct global trade, prepare for business travels or for bookkeeping convenience
2) RMB forward exchange: Forward Contracts allow clients to exchange two designated currencies at a specific time in the future with a pre-determined rate. The exchange rate can be set months before the trade takes place to eliminate the need for you to monitor exchange rate. These types of transaction can protect you from fluctuations in currency prices
3) RMB non-deliverable forward (NDF): RMB Non-Deliverable Forward is one of the hedging tools that help you to avoid unnecessary fluctuation of your operating costs, to lock-in the return for your business
4) 24/7 Online Banking Foreign Exchange: Foreign exchange can be done by online banking, and 3 tiers of promotional rates will be offered online
5. RMB Payroll Service
Our bank provides Cross-border RMB Salary payments into the Chinese Mainland or RMB Salary payments locally
6. RMB Global Cash Management
RMB cash management services such as global account management, centralized collection, disbursement and cash pool
Financial Institutions RMB Services
1. RMB Nostro Account Service
Open RMB Nostro accounts for Financial Institutions
2. RMB Trading Services
LC Advising, LC Confirmation, LC Reimbursement, Bills Collection, Act as Intermediary Bank for Remittances
3. RMB Financing Services
Export Refinancing, Import Refinancing, Risk Participation, Forfaiting, Direct Assignment without Recourse Discounting
4. RMB Treasury Services
Foreign Exchange, Money Market Borrowing, FX Swaps, Derivatives
5. Other Services
Provide information on RMB related enquiries
RMB Clearing Bank’s Services
1. RMB Banknotes Services
Provide Participating Banks (PBs) with RMB banknotes services including RMB banknotes deposit and withdrawal, RMB banknotes exchange and replacement of mutilated banknotes
2. RMB Remittance
Provide PBs with cross-border clearing services and offshore RMB clearing services
3. Account Overdraft
The Clearing Bank provides intra-day and overnight overdraft to PB’s clearing bank account
4. Term Deposit
The Clearing Bank provides RMB fixed deposit services, with fixed deposit tenor within 3 months, to help PB increase its yield on residual funds in its clearing account