Standard Chartered Bank RMB Settlement

Please gather some information about Cross Border Renminbi (RMB) Settlement Services of Standard Chartered Bank?

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Benefits
For corporate buying from China, maintaining RMB account will help achieve:
Transparent pricing: the entire cycle of international trade will be settled in RMB, so there will be no additional cost incurred by change of foreign exchange rate.

Closer relationship with suppliers: China suppliers do not need to open EFV account for export collection, and can get faster tax refund, and so can reduce the total cost of the supply chain.

Widened supplier base: corporate clients can now trade with China suppliers who do not have access to foreign exchange.

For corporate selling to China, maintaining RMB account will help achieve:
Reduced risk: Settlement in RMB is natural hedge for those running 2-way trade.

Enhanced control: Corporate can proactively manage foreign exchange risk.

Widened client base: Corporate can now trade with China buyers who do not have access to foreign exchange.

Enjoy competitive advantage: Not all overseas firms have the ability to receive payments in Renminbi, but those who can will enjoy a competitive advantage.

Services offered
RMB account service

2-way foreign exchange services for corporate accounts under trade settlement

Payment - Remittance and Collection

Trade settlement and financing services - Issuance of letter of credit and trade financing


Cross Border Renminbi (RMB) Settlement Services




Address:-
Standard Chartered Bank
1 Basinghall Avenue
London, EC2V 5DD
United Kingdom

Phone:-
+44 (0)20 7885 8888