I. Introduction Automatic Collecting is a service ICBC offers to group clients that ICBC transfers balances in the accounts of the subsidiaries automatically to the account of the headquarters. The conditions for automatic centralization can be set in advance by the group client.
II. Target Client Clients demanding centralized management of fund in the accounts of the subsidiaries.
III. Features 1. Automatic and real time centralization of funds within the group. 2. Conditions for fund centralization can be set by to meet the client's personalized needs.
IV. Application Condition For group clients who apply for the service of Automatic Collecting, the headquarters should have obtained the authorization to transfer fund from its subsidiaries.
V. Sign up The headquarters makes an application at its account opening ICBC branch for the Automatic Collecting service of VIP Room.
Ⅵ. Service Channel and Time Corporate Internet Banking provides 7×24 hour non-stop services. ICBC automatically centralizes funds for the client between 16:00 and 17:00 every working day.
Responsibility Statement: The contents on this page are for reference only. The ultimate power of interpretation is under the Industrial and Commercial Bank of China Limited. For part of the contents, notice and specific regulations of local branches shall prevail.