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Corporate Accounts

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
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:
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.

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Corporate Accounts

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