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What's the difference between a dollar account and a dollar settlement account?
A currency settlement account refers to a foreign currency interbank deposit account opened by a participant in an agent settlement bank for foreign currency settlement. The settlement agent bank shall, in accordance with the requirements of the People's Bank of China, improve the relevant business systems in the bank, meet the requirements of "decentralized account opening and centralized management", and ensure the smooth completion of fund settlement in the foreign currency payment system. The agent settlement bank shall strengthen the management of the opening and use of currency settlement accounts and provide currency settlement account services according to the agreements signed with the participants.

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Reply time: 202 1-08-09. Please refer to the latest business changes announced by Ping An Bank in official website.

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