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Product Name
RMB Current Account
Product Description
RMB current account is the current account opened by companies and enterprises to receive and pay out RMB funds to meet export/import trading needs.
Product Features
RMB current accounts do not pay interest. RMB current accounts are not only for receiving and paying-out RMB funds, but also for converting the RMB funds to foreign currencies. The balance in RMB current account could be transferred to interest bearing fixed term saving deposit.
Eligible Applicants
For any Import & Export enterprise which has RMB cross-border trade settlement requirements
Application Procedures
1. Enterprise goes through relevant procedures at the counter of any branches of Bank of China (UK) Ltd with application form and relevant documents.
2. Bank of China Ltd London Branch reviews the application and other relevant documents & opens the account for clients based on submission of complete and sufficient documents.
Required Documents
1. Certificate of Incorporation
2. Memorandum and Articles of Association
3. The latest financial report
4. The latest 6 months bank statements from current business banker
5. The passport and proof of address (bank statement or utility bill) of company directors, major shareholders (>25%), authorised signatories, directors of parent company, internet banking users.
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