STATE BANK OF INDIA, SHANGHAI BRANCH , CORPORATE ACCOUNTS
We offer the facility of the following types of Corporate Current / Settlement accounts :
# | SHANGHAI BRANCH | Account Opening Form & Other Documents | Check-list for Account Opening | Contact Persons |
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FX | Settlement Account of Rep Offices | May be collected from the branch | Available on the website www.sbishanghai.com.cn (downloads) | Supervisor (Settlement & Remittance) Email : Srasstrs1.shanghai@statebank.com 0086-21-54043331 ext. 320, or Senior Asst (Settlement & Remittance) , 0086-21-54043331 ext. 143 |
Capital Account of Foreign Invested Enterprises | ||||
Settlement Account of Domestic Companies | ||||
Inter Bank Deposit Accounts | ||||
Settlement Account of NRA (Off-shore companies) | Please contact the branch | |||
Term Deposits | Please contact the branch | |||
RMB | Only at Shanghai Branch | Please contact the branch | ||
Term Deposits | Please contact the branch |
CARE: Internet Banking Facility also available (Only Viewing Rights at present) : Please contact the branch
Latest Rate of Interests on Deposits are available on https://cn.statebank>> (Rate of Interest & Service Charges)
Other Account opening and Maintenance Rules: | |
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1. | ALL KYC documents are to produced in original for verification, without exception |
2. | Customers need to personally visit the branches for the purpose of account opening |
3. | Accounts will be opened only after reference to Negative Lists, if any, published by the host (China) and home (India) country regulatory agencies and Negative Lists under OFAC / UN etc. |
4. | The bank can, at its discretion, ask a customer to close an account if it is felt that the it is being used for any suspicious / /money laundering / illegal activities |
5. | The bank can ask the customers to provide full details of any transaction in case if it is required by regulatory agencies. |
6. | All transaction in all accounts are subject to local reporting requirements |
7. | Customers are also requested to give us an advance intimation of a day, in case they want to draw more than 2000 USD in cash |
8. | Our business data, including data related to customers, is stored at our Central Data Centre, Belapur, Mumbai (India) |
9. | Period of Term Deposits, Pre-mature closure of Deposits, Method of Interest Calculation, as well as Rate of Interest on Deposits are as per rules framed by the People’s Bank of China (PBOC) |
10. | Facility of E-statement and Fax Agreement are also available |
11. | As per PBOC rules, Corporate Account holders must submit quarterly Balance Confirmation + Documents necessary for periodical KYC updating. Therefore, accounts of only such companies may be opened as have physical presence in China. |