RMB Deposit

Currently, BOC JHB branch offers two types of RMB deposit products - RMB savings account and RMB fixed deposits accounts. Fixed term deposit accounts consists of  7 days, 1 month, 2 months, 3 months, 6 months, 9 months and 1 year etc. Clients have the option of automatic rollover after maturity date or early withdrawal before maturity date.

Applicable customers：

All non-South African residents that are interested in RMB products.

According to South Africa regulations, South African Residents are not allowed to open foreign currency accounts except ZAR accounts.

RMB Exchange

RMB exchange (Entity/Individual) refers to the exchange of RMB by individuals or company legal representatives under People’s Bank of P.R China and South Africa’s control regulations.

Applicable Customers：

All non-South African residents or resident Companies that are interested in RMB exchange. This includes natural person and Company legal representative.

According to South Africa regulations, South African Residents/ Resident companies (No Trade background) are not allowed to open foreign currency accounts except ZAR accounts.

RMB Pre-settlement Remittance

RMB pre-remittance is a BOC JHB branch product which combines RMB exchange and international remittance.  Clients can remit their money in the form of USD using real time exchange rates from their BOC account to beneficiary’s account with any Bank in China. Receiving Bank will convert USD into RMB automatically.

Applicable customers：

?Expatriates

?Non-citizens working or studying in China

RMB Prepaid Card (Good Hope Card)

Bank of China Good Hope Card is created by BOC JHB with the approval by SARB. Bank of China Good Hope Card RMB Prepaid Card is a BOC JHB branch product targeted towards South Africa non-residents traveling often between China and Africa.

Applicable customers：

All South African Non-residents that fulfill the requirements of South Africa’s exchange control.

How to open the RMB account

For our new clients, simply complete an application form for opening an account, giving you access to accounts with different currencies, including RMB, Rand and other foreign currencies as well as internet banking service. These accounts will also allow you the benefit of enjoying our various products and services.

For our existing clients, simply complete an application for opening an additional RMB account. You can easily start your RMB business today!

Requirements for Opening Accounts

South Africa Residents (i.e. in South Africa):

South African green bar-coded identity document or a valid passport with proof of permanent residence status

Proof of South African residential address, such as water and electricity bill or lease agreement

Income tax document issued by SARS (if applicable)

Foreign National who resides in South Africa:

Valid passport and visa (temporary residence permits including work permit and study permit)

Proof of South African residential address, such as water and electricity bill or rental agreement.

Source of funds (e.g. payslip, employment contract, SARS income tax return or 3 months bank statements)

Non-resident (i.e. outside South Africa):

Valid passport

Proof of residential address (i.e. Chinese identity document, water and electricity bill or lease agreement, etc)

Temporary residence permit

Note: the Bank may require additional information for the account opening purpose.

Customer Service Hotline:

Banking Department

Business Hours:9:00-15:30

Tel:+27 11 520 9636

Email：bd@boc.co.za