For NRA foreign currency accounts, you can apply for online banking cross-border remittance, foreign currency remittance, cross-border active transfer, cross-border automatic remittance and other services to meet the remittance and fund collection services between foreign currency accounts of customers and domestic accounts, overseas accounts and other NRA accounts.
When corporate customers use other accounts to transfer transactions to NRA accounts through online banking, they should ensure that the relevant online banking transactions meet the relevant national regulatory requirements.
The online banking enterprise service of Bank of China provides services such as account management, fund transfer and automatic collection for domestic accounts of overseas institutions (hereinafter referred to as NRA accounts).
Applicable object:
Overseas institutions legally registered overseas (including Hongkong, Macao and Taiwan Province Province).
Business characteristics:
1. The fund balance of domestic foreign exchange accounts of overseas institutions shall be included in the management of short-term foreign debt indicators of banks;
2. Foreign exchange receipts and payments between domestic institutions, domestic individuals and domestic foreign exchange accounts of overseas institutions shall be managed according to cross-border transactions. The income and expenditure of funds between the domestic foreign exchange accounts of overseas institutions and domestic and foreign institutions and the resulting changes in account balances shall be reported in accordance with relevant regulations;
3. Without the approval of the branch of the State Administration of Foreign Exchange at the place of registration, foreign currency cash shall not be deposited or withdrawn from the domestic foreign exchange accounts of overseas institutions, and foreign exchange settlement shall not be made directly or in disguised form in the foreign exchange accounts.
Processing flow:
1. When a customer applies for opening an account, he needs to entrust a bank to search through a cooperative search company, and the corresponding search fee shall be borne by the account opening applicant;
2. After the search is passed, the bank informs the applicant to open an account;
3. The customer submits the relevant account opening materials to the bank, and the bank opens the account after approval;
4. If an overseas institution fails to apply for a special agency assignment code, the bank shall apply to the foreign exchange bureau on its behalf before opening an account.