Demand Saving and Time Deposit

Demand Deposit account

1.Currency: USD, CAD and RMB

2.Minimum deposit amount: (total combined with term deposit) must equal to CAD $150,000 

Term Deposit account

1.Currency: USD, CAD and RMB

2.Saving duration: one, three, six and twelve months 

3.Minimum deposit amount: (total combined with demand deposit) must equal to CAD $150,000 

Remarks

1.Based on the regulation and branch policy, each account should maintain daily balance that is equivalent to CAD $150,000 or more upon opening a deposit account and daily balance. 

2.This branch does not provide chequing account, credit card and debit card service.

3.Deposit interest rate related policy(resident or non-resident)

￭Canadian deposit does not deduct income tax earned by interest in advance.

￭Based on Canada Revenue Agency(CRA) policy, at the beginning of the year after the branch defrays the interest, the branch must issue T5Slip form (for resident) or NR4 form (for non-resident) to client for submission to CRA.

￭Based on local policy, for the bank’s interest payment declaration purpose, Canadian resident’s deposit customer should provide social insurance number.

4.This branch does not accept any cash in any currency. But accepts outward remittance, CAD, USD bank draft and cheque.

5.This branch only accepts RMB deposit by RMB inward remittance, or using CAD/USD to do foreign exchange and deposit. 

Individual Account: Accountholder must be 18 years old or above.
Joint Account : Two or more individuals are able to open a joint account, the primary account holder should be 18 years or above.
Documents required to open account:
Individual/joint account：2 pieces of ID are required
Canadian resident:
Primary ID:PR(Permanent Resident card), citizenship card, passport, driver’s license.
Secondary ID: Secondary ID: Birth certificate, BC care card.
Non-Canadian resident:
Primary ID: Primary ID: Passport, identification card.
Secondary ID: Registered residence booklet, driver’s license or health ID card.

Remarks
1.Acceptable ID must not be expired and must be issued by Federal, provincial or local government with the unique identifier.
2.Ontario health card is not acceptable.

Business Account

Mortgage loans, construction loans, import and export trade financing, syndication loans and guarantee business.

Outward Remittance and Inward Remittance(limited to branch customers)

If you have any questions, please contact us.

Advising and transfer of Letter of Credit, Import/Export documentary collection, Export Financing, as well as issuing Letter of Credit.

Foreign exchange (limited to branch customers)

CAD,USD,RMB