Standard Chartered gives you a comprehensive range of tools that helps you with conducting your day-to-day banking in a simplistic and efficient way. This includes managing local currency accounts, premium savings accounts, call deposit and fixed deposit accounts as well as foreign currency capital & settlement accounts. We provide a vast range of market-leading services, from paper and electronic payments and collections, to escrow services, sub-account structures and advanced liquidity management solutions.
Escrow services are widely adopted in various underlying transactions, such as cross-border commodity trading of domestic and overseas enterprises, share transfer & purchase of properties, merger and acquisition, debt restructuring and intermediary services. A custodian bank, as an independent third party agency that sits between transferors, contractors or debtors, aims to safeguard interests of all parties and to eliminate the distrust between the parties to certain extent. The purpose is to reduce default risk and facilitate the transfer of escrow property in accordance with predefined conditions and parameters.
We have a client-led strategy which leverages an established franchise and Standard Chartered is the right partner for your cash escrow needs.
Standard Chartered offers 1-day and 7-day call deposits. The depositor shall submit the withdrawal application to the bank 1 day or 7 days in advance to the withdrawal date for 1-day and 7-day call deposit respectively. Foreign currency is solely available for 7-day call deposit.
We offer you enhanced yields, higher returns and improved liquidity from your funds placed with us for a set period of time. We offer flexible tenors and a wide range of global and Asian currencies for your deposits.
We offer a combination of a regular time deposit together with a currency or interest rate option. The premium from the sale of this option is being used to subsidize the yield of the deposit, which increases your overall return.
Telegraphic Transfer is a fundamental market offering usually offered to both consumer and corporate clients. We execute payments across a wide range of payment currencies, including minors and exotics. You can make payments within China or cross border through a local account, and receive status updates and notifications when the transaction is being processed.
The payroll function on our e-platform Straight2Bank allows single debit of the payroll file, with multiple destinations within the payment file. This helps you to protect the sensitive information from any inappropriate leakage. The purpose of payment and other regulatory information are to be provided based on the existing payment conventions.
Standing instruction offers a direct debit capability mainly for utility fees (gas fee, electricity fee etc.). Standing Instruction will allow the clients to make utility fee payments on a straight-through basis that will result in a shorter processing turn-around-time.
The telegraphic transfer provides you a collection solution to quickly and safely receive the payment in a wide range of currencies all over the world via our wide branches’ coverage and network of correspondent banks.
A direct debit is a RMB collection solution that we offer you to improve your collections efficiency. When the Direct Debit Authorized Form is signed by the payer, the client can collect payments directly from the payer’s account through a clearing house or bilateral partner bank of Standard Chartered. The funds will be credited into your collection account accordingly.
Virtual account (VA) is a collection solution that eases your difficulty on the identification of different payers and different payment references. By creating and assigning each payer or reference a VA, which is linked to a collection account, you will be able to identify the source and other important details of each payment among large volume of incoming funds during reconciliation.
Why Standard Chartered
Every year we are recognised for our achievements in banking and finance. Here are some of the recent awards we have won in China related to cross border RMB services. Please click here to view the full list of our recent awards in China and click here to view our recent global awards.
Other prestigious awards in China include:
- CFO World
- Best Corporate Internet Platform Award 2014