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Current Deposit

Corporate current deposit is one kind of deposit that can be saved and withdrawn at any time, with its interest counted on interest settlement term. It is mainly transacted through cash or transfer. The current deposit can be divided into basic deposit account, general deposit account, temporary deposit account and special deposit account. It is characterized by unfixed term and easy deposit and withdrawal.

Transaction Guide
Banking departments, business offices and other public and branch offices of ICBC may conduct the current deposit for corporate clients.

When a corporate client opens an account, he/she shall go to the bank of deposit and receive 3 copies of Account-Opening Applications and Signature Cards. The corporate client shall fill in them according to facts, and affix the unit seal and corporate seal with the same name as that of the account, or the seal of authorizer in accordance with the letter of authorization. He can also affix the financial special-purpose seal and corporate seal, or financial special-purpose seal, corporate seal and seal of financial manager on the card. The above private seals can be substituted by signatures.

In addition, the account-opening applicant shall submit:
1. Business license issued by industrial and commercial offices
2. Materials and official documents offered on the prescriptions of the State Administration of Foreign Exchange.
3. Enterprise standard code certificate issued by the State Administration of Technical Supervision.
4. Other materials prescribed by the ICBC.
Interest accrued on RMB current deposit is calculated at the rate quoted on the settlement date. Interest shall be calculated in periods if there is a change in the rate in between.