Business introduction

The foreign exchange deposit refers to the business that the client makes deposit, withdraws money and calculates interest in foreign currencies. The client shall withdraws money from the bank with deposit certificate.

Deposit object

Domestic resident individual: the Chinese citizens holding the resident ID card, residence booklet, interim ID card, Military ID card and armed police ID card of the People’s Republic of China.

Overseas resident individual: Overseas individual refers to foreign citizens (including stateless persons ) holding passports, Residence Permit for Foreigners, Exit-entry Permit for Traveling to and from HongKong and Macao, Taiwan and mainland pass, as well as the compatriots in Hongkong, Macao and Taiwan.

Deposit currencies

Our bank conducts foreign exchange deposit business in the currencies such as dollar, HongKong dollar, yen and Euro. Please contact the foreign exchange managing branches for further information.

Kinds of business

Current savings deposit: the foreign exchange current deposit shall be bankbook account,  without limit of minimum amount, which can be deposited in the bank by petty cash and withdrawn at any time with quarterly interest settlement.

Fixed savings deposit: foreign exchange fixed savings deposit refers to the business that the client deposits the principal at one time for an agreed period, and would withdraw the principal and interest by partial or full amount. The minimum amount of the foreign exchange fixed savings deposit in a lump-sum deposit and withdraw way shall be the equivalent foreign currencies of 50 Yuan. The deposit term shall be divided into 1 month, 3 months, 6 months, 1year and 2 years.

Kinds of account

Spot exchange account: the foreign exchange deposit account remitted from overseas or HongKong, Macao and Taiwan Regions and opened by domestic resident, which can be freely converted. Cash can be converted into spot exchange and deposited into spot exchange account and the deposit of spot exchange account can be remitted abroad.

Cash account: the savings account in which the convertible currencies taken along from overseas or held by domestic residents are deposited. Spot exchange can be converted into cash to deposit in cash account and the deposit money must be converted into cash to be remitted abroad.

Business process

Including opening account, renew, withdrawing, withdrawing in advance, transferring accounts, closing an account.

Opening account: the client shall fill in personal business vouchers to open foreign currency cash account, which consists of name of depositor, name and number of certificate (including agent), contact telephone number, kinds of currency and amount deposited, and select account type and savings type. If the savings type of lump-sum deposit and withdraw is selected, please fill in the deposit date and choose whether to renew the deposit automatically.

Renew: the client shall produce the deposit certificate (to renew without a certificate, the client shall fill in personal business vouchers, including name in the account book, account No. And deposit amount) foreign currency banknote to the teller and dictate the deposit amount to handle renewing business. As for the cumulative amount deposited per day less than the equivalent of 5000 US dollars (including 5000), it can be handled directly at banking establishments; in case that the cumulative foreign banknote amount deposited per day is over the equivalent of 5000 US dollars (excluding 5000), it shall be handled at bank with his personal ID card, the “Declaration Form for Entry Passenger’s Baggage of the Customs of the People’s Republic of China ” or the foreign currency cash extraction document of his original deposit bank.

Withdrawal: the client must produce deposit certificate and dictate the withdraw amount to handle withdrawal business (only cash withdrawal is allowed). In case that the cumulative foreign banknote amount withdrawn per day from his foreign currency deposit account is less than the equivalent of 10,000 US dollars (including 10,000), it can be handled directly at banking establishments; in case that the cumulative foreign banknote amount withdrawn per day is more than the equivalent of 10,000 US dollars (excluding 10,000), the cash deposit must be withdrawn with valid personal ID card and the “Registration Form for Foreign Currency Cash Withdrawal” signed by the Administration of Foreign Exchange.

Withdrawal partially prior to maturity: the client shall present fixed lump-sum deposit and withdrawal certificate and personal valid ID card to apply to withdraw partially prior to maturity the deposit money of fixed foreign banknote lump-sum deposit and withdrawal deposits, and dictate the withdrawal amount to the teller. If an agent is entrusted, he must present his personal ID card. In case that the cumulative foreign banknote amount withdrawn per day is more than the equivalent of 10,000 US dollars (excluding 10,000), the cash deposit must be withdrawn with valid personal ID card and the Registration Form for Foreign Currency Cash Withdrawal signed by the Administration of Foreign Exchange.

Transfer of account: the foreign currency deposit account can only be transferred in the same currency, banknote to be transferred to banknote and remittance to be transferred to remittance. The client shall fill in personal business vouchers to transfer account, including the account name, account No. to transfer and amount. If the transfer is made between his own accounts, it shall be handled with personal valid ID card ; the funds transfer between the principal and his immediate family members shall be handled with the valid ID cards of both parties and the relationship evidence ( relationship evidence of immediate family members refers to the residence booklet, marriage certificate that can prove the relationships of immediate family members or the valid family relationship evidence issued by basic-level governmental organizations such as sub-district offices or police departments and notary departments) of immediate family members (refer to parents, children and couple).

Closing an account: the client shall present deposit certificate to apply to close an account. In case that the cumulative foreign banknote amount withdrawn per day is more than the equivalent of 10,000 US dollars (excluding 10,000), the cash deposit must be withdrawn with valid personal ID card and the Registration Form for Foreign Currency Cash Withdrawal signed by the Administration of Foreign Exchange.

Kindly reminder

1. If the cumulative foreign currency amount deposited in individual account per day is less than the equivalent of 5000 US dollars (including 5000), it can be handled directly at banking establishments; in case that the cumulative foreign banknote amount deposited per day is over the equivalent of 5000 US dollars, it shall be handled at bank with his personal ID card, the Declaration Form for Entry Passenger’s Baggage of the Customs of the People’s Republic of China  or the foreign currency cash extraction document of his original deposit bank.

2. If the cumulative foreign banknote amount withdrawn by individual per day is less than the equivalent of 10,000 US dollars (including 10,000), it can be handled directly at banking establishments; as for the amount over 10,000 US dollars, it shall be reported in advance to the Administration of Foreign Exchange at the bank location with valid personal ID card and the withdrawal purpose statement, and the bank shall handle the case with the valid personal ID card and the Registration Form for Foreign Currency Cash Withdrawal signed by the Administration of Foreign Exchange.