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Old 8th September 2015, 01:30 PM
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Join Date: Apr 2013
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Default Re: Standard Chartered Bank Account Types

Standard Chartered PLC is a British multinational banking and financial services company. Its headquartered is located in London.
It was established in 1969.

Types of Accounts

RMB Basic Account-

Main features:


Pay employee wages and bonuses
Make transfers and settlements
Withdraw funds
Manage your daily operational banking needs

RMB General Account-

Main features:

Make cash payments
No cash withdrawals are allowed
Borrowing redeposits
Receive funds and payments

RMB Temporary Account-

Main features:

Fund collection and payments due to temporary business operations
Transfers and settlements due to temporary business operations
Cash withdrawals in line with national cash management regulations, such as the agent capital injection and verification

RMB Special Account-

Main features:

Cash withdrawal in accordance with the RMB bank settlement account management approach and state regulations
Extra budgetary funds, securities transactions settlement funds, capital construction funds, renovation fund, social security funds and other funds and payments requiring specified account management

FCY Settlement Account-

Main features:

Foreign exchange settlements of foreign trade
Foreign exchange revenue and spending under current account
Foreign exchange revenue and spending under other accounts approved by SAFE

FCY EFV Account-

Main features:

Verification of export proceeds
Expenditure once the account is verified by bank network including foreign exchange settlements

FCY Capital Account-

Main features:

Expenditure under current account within current range
Foreign exchange capital injection and increase
Expenditure under capital account subject to approval by SAFE

FCY Local Loan Account

Main features:

Approved expenditure under capital account
Revenue and repayment of loans
Depositor repayment
Expenditure under current account
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