Corporate Current Deposit

Business introduction:

 

A demand deposit refers to a deposit that does not specify the deposit term, can be deposited or withdrawn at any time and calculates interests by quarters according to the interest rate of a demand deposit. If your company holds a demand deposit account of CMBC, you may withdraw your deposits via various means, such as issuing checks or bills of exchange.　

The demand deposit accounts of enterprises or institutions can be classified into a basic deposit account, a general deposit account, a special deposit account and a temporary deposit account.

 

Business process:

 

1.When applying to open a basic account, the customer shall hold the original of the Business License for Enterprises as Legal Persons or the Business License issued by the administrations for industry and commerce or other documents required together with the Coder Certificate of Legal Persons in the People’s Republic of China (duplicate) or code card issued by the Bureau of Technical Supervision to draw and fill in the Application Form for Opening Bank Account in quadruplicate from CMBC, after stamping them with the company’s cachet and the personal stamp of the legal person (the cachet of its supervisor is also required if the customer is an affiliate), and render them together with the signature card of the company to CMBC. CMBC, after reviewing and approving it, will stamp on the Application Form for Opening Bank Account with its cachet, prepare bank account number, keep two copies of the Application From, and return the other two copies to the depositor.

2.The customer shall, within 2 days as of the date opening the account, render a copy of the Application Form for Opening Bank Account directly or through CMBC to the local branch (Accounting Department) of the People’s Bank of China. The customer, after opening the account, may draw the permit for opening a basic deposit account and account management card.

3.When applying to open a general account, please hold the Coder Certificate of Legal Persons in the People’s Republic of China (duplicate), Account Management Card, permit for opening a basic deposit account and other relevant certificates to draw and fill in the Application Form for Opening Bank Account in triplicate from CMBC, after stamping them with the company’s cachet and the personal stamp of the legal person (the cachet of its supervisor is also required if the customer is an affiliate), and render them together with the signature card of the company to CMBC. CMBC, after reviewing and approving it, will stamp on the Application Form for Opening Bank Account with its cachet, prepare bank account number, keep one copy of the Application From, and return the other two copies to the depositor; meanwhile, issue the permit for opening a basic deposit account of the People’s Bank of China to the depositor. The customer shall, within 2 days as of the date opening the account, render a copy of the Application Form for Opening Bank Account directly or through CMBC to the local branch of the People’s Bank of China.

4.The opening and application procedures of special deposit account are of the same as that of general deposit account.

5.In case that a temporary deposit account is needed to open, the Interim Code Certificate of Enterprises as Legal Persons issued by the Bureau of Technical Supervision and relevant evidencing documents are required. Its account opening and application procedures are of the same as that of general deposit account. The validity of the account is for one year. After the expiration of one year, the depositor shall clear the account automatically, and CMBC will stop handling settlement for the depositor.