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Foreign Currency Call Deposit

Overview

The Foreign Currency Call Deposit is a deposit in which an individual deposits foreign currency funds into a bank without specifying the deposit term, and withdraws the funds in accordance to a prior notice that specifies the date and amount of withdrawal. 

For foreign currency call deposits, only the seven-day deposit term is available. The minimum balance is equivalent to RMB50,000; the minimum withdrawal is equivalent to RMB50,000.

Benefits

Benefits include: higher interest rate relative to foreign currency demand deposits; flexible deposit term; convenient withdrawal; relatively high return; and suitable for large and frequently used deposits.

Procedures

1. The customer applies for call deposit using his/her valid identity certificate. The certificate of deposit should bear the words "call deposit".

2. Upon making the deposit of funds, the customer may openly choose the type of deposit they prefer. Neither deposit term nor interest rate is indicated on the certificate of deposit. Interest accrues at the rate announced on the date of withdrawal for the actual period of deposit, and is paid together with the principal withdrawn in a lump-sum.

3. If the customer withdraws the call deposit in a lump-sum, the certificate of deposit should be surrendered to ABC for account closure; if the customer withdraws a portion of the call deposit, the remaining amount should meet the minimum balance requirement; the account will be closed if the remaining amount is lower than the required minimum balance.

4. To withdraw a call deposit, a seven-day prior notice should be given.

When does the interest on foreign currency call deposits accrue at demand deposit rate?

Interest on foreign currency call deposits accrues at demand deposit rate under the following circumstances:

1. The actual deposit term is less than the notice period;

2. Withdrawal without prior notice;

3. Early or late withdrawal despite making a prior notice;

4. Withdrawal less or more than the notified amount;

5. Withdrawal less than the minimum amount required.

Tips

1. Customers should properly keep their deposit certificates, passwords and valid identity certificates. Deposit certificates and identity certificates should be kept separately.

2. Reporting lost deposit certificates or passwords needs to be handled by the customer, in person, at the outlet.

3. Give a prior notice to withdrawal.

Note: Please contact your local branch for detailed information about the service.

Customer Service Center : 95599

Outlet

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