Comprehensive RMB Cross-Border Financial Services

Comprehensive RMB Cross-Border Financial Services

It has always been our commitment to develop various types of banking products to satisfy customer's cross-border needs. As Hong Kong continues to strengthen its ties with the Mainland, we have introduced a comprehensive Renminbi cross-border financial services including deposits, currency exchange, remittance, insurance, bond investment and corporate finance to help you grasp every opportunity.

RMB Deposits Services(1-2)

  • Comprehensive services
    We offer savings account, current account and fixed deposit services. RMB deposit account customer can deposit and withdraw RMB cash at our Head Office and any of our Hong Kong branches and conduct other RMB transactions including cheque deposit, fund transfer and two-way exchange (RMB/HKD). 

    What's more, our "Deposit Link Service" offer preferential interest rate for placing RMB fixed deposits at Shenzhen branch. 

  • RMB cheque
    With a personal RMB current account, you can settle ordinary consumption transactions by cheque in Guangdong Province, including Shenzhen, conveniently. Cheques can also be used in Hong Kong for inter-bank fund transfer between accounts. Through the service you can enjoy greater flexibility. 

  • Electronic service channels
    Personal customers can enquire account balance, trade RMB and create RMB fixed deposits via our NET Banking and Phone Banking anytime, anywhere. Through NET Banking you can also transfer funds and set up forward-dated instructions for fund transfer between your RMB savings and RMB current accounts with the Bank. Cheque book requisition, cheque status enquiry and stop cheque payment can also be made online in the most convenient way.

RMB Exchange Service(3)

We offer RMB exchange service with preferential exchange rate. Exchange can be made at our Head Office or any of our Hong Kong branches or via various electronic channels.

RMB Remittance Service(4)

We provide RMB remittance service to the Mainland China or to local banks. We also receive RMB inward remittance for customers. 
Personal and Corporate customers can apply for local RMB fund transfer through our E-banking system; Internet application of RMB remittance to the Mainland China is also applicable for personal customers. 

RMB Life Insurance Plan​(5)

The application procedures of life insurance plan offered by Hong Kong Life Insurance Limited are simple.

RMB Bond Investment​(6)

  • Offer a regular RMB interest income, provides higher potential return than general RMB fixed deposits. 
  • Enjoy potential enhanced returns via the appreciation of RMB.
  • Investment amount as low as RMB10,000. 
  • Provide a wide range of RMB bonds issued by variety of issuers (including government and corporations).
Corporate Finance​(7)
  • Wing Lung Bank's China/Hong Kong SME Trade Finance Scheme offers convenience for Hong Kong Enterprises and citizens to mortgage their assets in Mainland China for cross border trade financing or loan arrangement.
  • Provide full range cross border RMB trade financing to corporate customers, including the issuance of import Letters of Credit ("L/C"), shipping guarantee, trust receipt loans, import collection, invoice financing, LC advising and export LC collection, etc.

Enquiry Hotline: 230 95555 
Website: www.winglungbank.com

Notes:

  • RMB deposits services
    • RMB cashier orders and overdraft on Renminbi account are not available.
    • Customers opening a Renminbi account with our Head Office or branches in Hong Kong are not allowed to withdraw cash at our mainland branches.
  • RMB deposit accounts
    • RMB current accounts are available to the Bank's RMB savings account holders only. Cheques are not transferable and can only be deposited into the payee's account.
    • For consumption spending in Guangdong Province (including Shenzhen), the amount of each RMB cheque shall not exceed RMB80,000, otherwise the cheque will be returned and a handling fee of RMB200 will be charged for each returned cheque. Customers agree that the aggregate amount of cheques presented to the Bank on any day shall not exceed RMB80,000.
    • "Deposit Link Service" involves policy risk, legal risk, exchange rate risk and interest rate risk. Funds maintained in our mainland branches are not protected deposit and are not protected by the Deposit Protection Scheme in Hong Kong.
  • RMB Exchange Service
  • RMB Remittance Service
    • Remittance Service is available for Individual RMB deposit account holder to remit RMB to the same name account in the Mainland. Daily maximum remittance amount is RMB80,000 per individual (including application over the counter and through E-Banking)
    • Personal / Corporate RMB deposit account holder can transfer RMB to accounts with other banks in HK over the counter or through our E-banking system.
    • Pre-registration is required for internet remittance application.
  • RMB Life Insurance Plan
    • RMB insurance plan is issued by "Hong Kong Life Insurance Company Limited", clients should refer to the terms and conditions of insurer.
    • The product is limited offer, insurer may stop selling the product according to the market.
    • The policy value of the Plan is calculated in RMB. Customers can choose the settlement in RMB or HKD, the conversion amount depends on prevailing exchange rate as determined by the insurer, which may change from time to time.
  • RMB Bond Investment
    • To purchase RMB bonds through the Bank, both individual and corporate customers must hold a RMB savings account and a wealth management account with the Bank.
    • The safe custody fee waiver applies to designated RMB bonds subscription through the Bank during the IPO period. For RMB bonds purchased in the secondary market, a safe custody fee of 0.05% per annum on the nominal value of the bonds will be charged, pro rata on the holding period.
  • Corporate Finance
    • The Bank reserves the right to amend the terms and conditions of the above services according to regulations and guidelines from time to time announced by The People's Bank of China / State Administration of Foreign Exchange / China Banking Regulatory Commission or the general market condition thereof at any time without prior notice.
    • Cross border RMB trade settlement services only applies to qualified corporate customers for settlement of genuine trade transactions with eligible enterprise(s) in the 20 pilot areas in Mainland China.
    • Customer applies for cross border RMB trade settlement account must have maintained a corporate account with Wing Lung Bank.
    • Interest rates apply to cross border RMB trade settlement accounts are subject to fluctuations and discretions of Wing Lung Bank.
    • Subject to the agreement with the RMB clearing bank in Hong Kong and the Mainland China and relevant regulatory requirements, Wing Lung Bank is authorized to provide any information for the corporate customers including their cross border RMB trade settlement accounts and transaction details.
  • General Notes
    • For the details on the Renminbi services, please refer to the latest "Notice on Renminbi Business".
    • The Bank reserves the right to revise our charges, offers or services from time to time. Please contact our Head Office and branches for details.

Risk Disclosure Statement:​
The above information does not constitute and should not be regarded as any recommendation, offer or solicitation to purchase or sell any investment products. Investment involves risks and the price of investment products may fluctuate or even become worthless. Past record is not an indicator of future performance. Losses may be incurred rather than making a profit as a result of investment. You should carefully and independently consider whether the investment products are suitable for you in light of your investment experience, objectives, financial position and risk profile. At times there may not be any counterparty quoting prices or providing liquidity for the bond. Independent professional advice should be obtained if necessary. This product and advertisement have not been authorized by the Securities and Futures Commission. Please read the relevant terms and conditions together with the risk disclosure statements in the prospectus of the investment product before making any investment decisions.

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