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  Home Page > Corporate Banking >Institutional Banking >Government Organization Service >Official Card for Central Budget Units
Official Card for Central Budgetary Units
 

I. Definition
Official Card for Central Budgetary Units is a credit card issued by ICBC mainly for employees with Central Budgetary Units, to pay and reimburse day-to-day business expenses. The cards offer functions to monitor and feed back on fiscal information, strengthen financial management and facilitate business or personal expenses.

II. Target Clients
The public expenditures by authorized payment of Central Budgetary Units, including traveling expenses, conference fees, entertainment and purchases less than 50,000 yuan, which are originally settled in cash, should be settled by Official Card now.

III. Features and Advantages
1. Convenient
Official cards are designed to facilitate usage backed by ICBC’s large outlet network, speedy online services and round-the-clock telephone banking services.

2. Reliable
"Official Card Support System" is a special business support system independently developed by ICBC with cutting-edge technology. The centralized payment system, internet-banking system, bank card system and host system are also developed in-house by ICBC, which fully protect compatibility and reliability between different business systems.

3. Secure
Official cards employ various measures to protect the amount in the cardholders' accounts, including SMS alerts, PIN and report loss with immediate effect.

4. Comprehensive
Official cards can be used for business expenses or personal expenses, while meeting the goal of official expenditure control.

5. Exclusive
Official cards are exclusive for public servants, with application and cancellation in line with the management of public servants.

IV. Service Channel
"Official Card Support System" + "Bank-Finance Link" system + "Peony Card" system

V. Application Conditions
Budgetary Units and their employees incorporated into Central Fiscal Authorized Payment services at ICBC.

VI. Steps
1. Apply
After service agreement is signed by Central Budgetary Units and ICBC, ICBC issues Official cards to the employee and opens "Corporate Card Support System".

2. Use the Card to Pay
The employees of the Central Budgetary Units may use the Official cards to pay business expenses.

3. Reimbursement
Cardholders use invoices and POS slips and go to financial department of the Central Budgetary Units to reimburse the expenses. After checking the invoices and POS slips,  financial persons login ICBC’s "Official Card Support System", check details, generate  repayment schedule by functions and subjects, write a cheque (with repayment summary enclosed) and submit to ICBC branch where the zero-balance account is opened. ICBC branch transfers the reimbursement to cardholders' Official cards in batch through transient account, based on the cheque amount and repayment summary.

4. Dynamic Information
When fiscal fund is used to repay Official cards, ICBC's "Bank-Finance Link" system sends the business expense by Official cards to treasury dynamic monitoring system of the Ministry of Finance PRC.


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