Account Type and Features
Standard Chartered offers a wide range of RMB and foreign currency accounts designed to suit your needs:
- RMB Basic Account
- RMB General Account
- RMB Temporary Account
- RMB Special Account
- FCY Settlement Account
- FCY EFV Account
- FCY Capital Account
- FCY Local Loan Account
RMB Basic Account
The RMB Basic Account enables companies to conduct settlements and make cash transfers simply and easily. Enterprises can open only one RMB basic account.
- Make transfers and settlements
- Manage your daily operational banking needs
- Pay employee wages and bonuses
- Withdraw funds
RMB General Account
Companies use the RMB General Account to conduct non-cash settlements, and can open more than one account depending on actual business needs.
- Borrowing redeposits
- Receive funds and payments
- Make cash payments
- No cash withdrawals are allowed
The RMB General Account is available for most Standard Chartered products including CASA Deposit, Fixed Deposit, Call Deposit and Trade Finance.
RMB Temporary Account
The RMB Temporary Account is designed to cater to temporary needs and must be used within a specified time period.
- Fund collection and payments due to temporary business operations
- Transfers and settlements due to temporary business operations
- Cash withdrawals in line with national cash management regulations, such as the agent capital injection and verification
RMB Special Account
Our RMB Special Account allows you to manage and use funds for a particular purpose in accordance with the laws, administrative regulations and rules.
- Extra budgetary funds, securities transactions settlement funds, capital construction funds, renovation fund, social security funds and other funds and payments requiring specified account management
- Cash withdrawal in accordance with the RMB bank settlement account management approach and state regulations
FCY Settlement Account
The Foreign Currency Settlement Account allows companies to manage foreign currency income and expenditure through a current account.
- Foreign exchange revenue and spending under current account
- Foreign exchange revenue and spending under other accounts approved by SAFE
- Foreign exchange settlements of foreign trade
FCY EFV Account
The Foreign Currency EFV Account enables you to handle the verification of export proceeds.
- Verification of export proceeds
- Expenditure once the account is verified by bank network including foreign exchange settlements
FCY Capital Account
Our Foreign Currency Capital Account enables you to handle foreign exchange capital.
- Foreign exchange capital injection and increase
- Expenditure under current account within current range
- Expenditure under capital account subject to approval by SAFE
FCY Local Loan Account
The Foreign Currency Local Loan Account allows you to apply for domestic foreign currency loans.
- Revenue and repayment of loans
- Depositor repayment
- Expenditure under current account
- Approved expenditure under capital account