If you choose BANK OF CHINA to render RMB payment and settlement services for you, your funds will be safely and rapidly transferred to the destination, whether in the same city or not. In order to meet your different demands for fund transfer, collection and payment, we promise to provide you with the best suggestions and enable you to devote all your energies to corporate management, financial optimization, trade settlement and such other activities, without being puzzled about which settlement product is used.

We also recommend to corporate customers such settlement products as check, cashier’s order, bank draft, banker’s acceptance bill, remittance, collections, collection against acceptance, simplified orders for multi-payment, regular debit (credit) business, bulk payments, custody of bills and door-to-door service.

Check

Check is your first choice for its convenient procedures and timely fund settlement. You may select active payment by the drawer holding the check or the collection by BANK OF CHINA based on authorization of the payee holding the check, according to the time requirement or the business reputation. Presently, intra-city and inter-city payment and settlement with checks are available in BANK OF CHINA.

Cashier's order:

After you deposit a certain sum with BANK OF CHINA, it may issue a cashier’s order to you, and undertake to unconditionally disburse specified amount to the payee or the bearer at sight. Cashier’s orders have the features of payment at sight, high credit standing, and strong payment capacity. To date BANK OF CHINA has rendered such services in 14 branches, i.e. Tianjin, Liaoning, Shanghai, Jiangsu, Zhejiang, Anhui, Jiangxi, Shandong, Henan, Hubei, Sichuan, Shaanxi, Shenzhen and Chongqing branches.

Bank draft

You may choose to use bank drafts. A payee holding the bank draft can receive payment wherever. As the case may be, you can also transfer all your bank drafts to obtain funds in advance and reduce costs by shortening the fund turnover period.

Banker's acceptance bill

In commodity transactions, you may apply to BANK OF CHINA for a banker’s acceptance bill. After your application is approved, BANK OF CHINA will issue a banker’s acceptance bill with specified amount unconditionally paid to the payee or the bearer on the due date, to meet your short-term fund demands.

Remittance

In respect of fund transfer, flexible, convenient, safe and accurate remittance method will become your first choice. As for both transaction parties with good business reputation, remittance is an ideal fund settlement tool. According to your specific demands for the time of payment, BANK OF CHINA designs many electronic remittance services for you in order to meet your different demands for the time of remittance. With such services, your funds can be remitted safely without delay.

Collections

Whether the payer is a customer of BANK OF CHINA or a customer of other banks, you may authorize BANK OF CHINA to collect payment from the payer. Such a safe and timely fund settlement service of collections is available by providing payer obligation certificates such as honored commercial bill, bonds and certificates of deposits.

Collection against acceptance

If you are concerned about the reputation of your business partners or for other reasons, you are recommended to choose the service of collection against acceptance rendered by BANK OF CHINA. As a payee, you may authorize BANK OF CHINA to collect payments from a payer in another place depending on the purchase and sales contract, after you deliver goods. We will keep close watch on your fund safety. The lower limit for a settlement by collection against acceptance is RMB10,000, and that for the settlement via Xinhua Bookstore System is RMB1,000.

Simplified orders for multi-payment

BANK OF CHINA renders simplified orders for multi-payment services for corporate customers with huge business volume and frequent fund settlements. You may complete several payment instructions by filing a payment application to BANK OF CHINA. It frees you from filling a large number of documents, and thus saves your time. Currently, simplified orders for multi-payment services cover intra-city fund transfer, domestic inter-city remittance and bank draft.

Regular debit (credit) business

According to the agreements signed by you and relevant parties previously, BANK OF CHINA provides you with regular collection and payment services, mainly including payment of water fee, electricity fee, gas fee, and such other public utility fees on your behalf, withholding of taxes in batches on behalf of the state treasury, and payment of salaries, insurance benefits and compensation and pension on your behalf.

Bulk payments

Depending on the payment password technique of BANK OF CHINA, when accepting a check, you may earmark the check payment amount in the payer’s account in advance by the check loading terminal, in order to ensure the payment is made in full. Check loading should comply with the principle of time sequence. Presently, BANK OF CHINA has launched the service on a trial basis in Gansu, Hainan and Tianjin branches.

Custody of bills

According to your business demands, BANK OF CHINA provides you with such services as bill maintenance and information inquiry and management. Based on the bill custody services, it also renders more value-added services, including bill pledge credit, discount and other bill-related services.

Door-to-door service

BANK OF CHINA designates a special person or contract an escort company to deliver or fetch documents and provide cash collection and payment services for you on a door-to-door basis. After signing a door-to-door service agreement with BANK OF CHINA, you may transact related business at your office or home.