Introduction
The Group Settlement Express is a cash management product catered to corporate groups? needs for centralized capital management. The product accounts for and manages the capital of various subsidiaries and affiliates using separate internal accounts, which facilitates resource sharing within the group organization.
Functions
1. Internal settlement within the group. It facilitates capital settlement between various settlement accounts within the group company.
2. Payment made to external parties by the group. It provides payment by the group to external parties in ways of a) separate payment by subsidiaries, b) centralized payment made by the group, and c) third party payment.
3. Fund aggregation and top-up. The group headquarters can set proactive collection (either automatically or manually) or capital top-up for the bank account authorized by the subsidiaries to achieve centralized allocation and use of capital. The collection period and method can vary flexibly on different needs. Methods of collection include fixed-amount collection, fixed-percentage-of-the-balance collection, and fixed-balance collection.
4. Internal financing and interest rate management. The group headquarters can provide financing facilities for its subsidiaries and thus reduced the overall financing cost of the group. Interest rate management covers a number of functions including cumulative data enquiry, interest rate calculation, cumulative data returning to zero.
5. Fund analysis and enquiry printing. It provides all types of analysis reports, including the group fund position statement, details, subsidiary fund stock analysis report, to conduct dynamic analysis on the fund position, cost of capital and capital distribution of both the group headquarters and subsidiaries. Simple set-up for internal account to maximize interest savings: All internal accounts are organized in a tree-structure for easy calculation and analysis of cost on internal funds. Other functions available are intelligent search enquiry and files export.
6. Period end summary. This includes centralized daily settlement and bank data receiving. The Bank also provides cumulative calculation of savings and loans settlement accounts and bank statements of both the bank account and the settlement account checking.
Features
1. Easy to develop a product portfolio: it adopts modular design of functions, which offers ease and flexibility in product selection and combination.
2. Quick to know cash movements: it provides over a dozen of analysis reports and facilitates dynamic analysis of cash management for the group and all subsidiaries.
3. Efficient capital allocation: it enables the group headquarters to centralize allocation and use of funds at its subsidiaries.
4. Efficient budget management: the ration control is used for budget management.
How to Apply
1. Open a RMB settlement account with Hua Xia Bank.
2. Sign the Hua Xia Bank Corporate Internet Banking Service Agreement, the Hua Xia Bank Corporate Internet Banking - Group Settlement Center Service Agreement, and the Hua Xia Bank Corporate Internet Banking - Group Settlement Center Account Letter of authorization.
3. The Group headquarters fills out the Hua Xia Bank Corporate Internet Banking - Group Settlement Center Application Form and presents the business licence, Corporate Code Certificate, ID documents of the legal representative, the system administrator and the officer-in-charge.
4. The subsidiary fills out the Hua Xia Bank Corporate Internet Banking - Group Settlement Center Application Form and presents the business licence, Corporate Code Certificate, ID documents of the legal representative and the officer-in-charge.
5. Upon approval, signing the Agreement and verification, Hua Xia Bank helps the company to download the digital certificate and assists in system installation of the Group Settlement Center services.
For enquiries, please contact
Teller at the counter of the depository bank
e-Banking staff at any branch
95577 for the call center
Introduction
The Bank-Corporate Express is a cash management product by which the company’s financial system (or ERP system) is connected with the Hua Xia Internet Banking system via the Internet or proprietary cables, which enables the customer to use a series of banking services such as the account enquiry, transfer payment, pooling of capital, and downloading information directly from its financial software.
Functions
1. Account Enquiry: allows signed account users to enquire about the account balance and other details and provides customized enquiry functions based on customer needs and available technology.
2. Transfer Payment: allows customers to transfer within the group and/or make payment to external parties through the Bank-Corporate Express link. Real-time payment and collection under the internal transfer within the system.
3. Pooling of Capital: supports the pooling of capital transaction conducted by the group through its corporate financial system and in a specific manner.
4. Account maintenance and management: allows enquiry about all signed account information included in the Hua Xia Internet Banking system of the group’s subsidiaries and branches via the Express system, easy to maintain and control.
5. Customized Functions: allows customization based on customer needs, compatibility of the customer’s corporate financial system and implementation of separate development and design.
Features
1. Improves work efficiency by reducing business procedures and workload of the Company’s financial staff.
2. Easy control of cross-bank accounts and real-time tracking of change of capital in the cross-bank account.
3. Simple application for account opening with straight-forward application process and professional team.
4. Advanced technology for data security by using proprietary cables and digital certificate which is the independent third-party corporate certificate issued by the China Financial Certification Centre.
5. Customized services to cater to different needs.
How to Apply
1. Open a RMB settlement account with Hua Xia Bank.
2. Sign the Hua Xia Bank Corporate Internet Banking Service Agreement, the Hua Xia Bank-Corporate (Securities) Direct Services Agreement, and the Hua Xia Bank-Corporate (Securities) Direct Services Signed Account Letter of authorization.
3. The Group headquarters fills out the Hua Xia Bank-Corporate (Securities) Direct Services Application Form and presents the business licence, Corporate Code Certificate, ID documents of the legal representative and the officer-in-charge.
4. The subsidiary fills out the Hua Xia Bank-Corporate (Securities) Direct Services Application Form and presents the business licence, Corporate Code Certificate, ID documents of the legal representative and the officer-in-charge.
5. Upon approval, signing the Agreement and verification, Hua Xia Bank helps the company to download the digital certificate using the development package configuration port software applications provided by the Bank and use the service after testing.
For enquiries, please contact
Teller at the counter of the depository bank
e-Banking staff at any branch
95577 for the call center
Introduction
The Overdraft Express is a cash management product by which the corporate client can overdraw within the overdraft limit set by Hua Xia Bank and obtain short-tem financing when it has insufficient fund in the settlement account.
Functions
1. Meets the short-term financing needs of companies in production and operations.
2. Helps companies to make payment in a timely manner and enhances its credibility.
3. Provides a convenient way of borrowing and repayment within the overdraft limit and offers flexibility for companies to better control source and use funds.
Features
1. Easy and quick borrowing and repayment within the overdraft limit.
2. Long overdraft period, maximum 3 months.
3. Flexible with both counter and online application available.
Currency and Tenor
RMB services only.
The overdraft express tenor involves the overdraft limit validity and the overdraft tenor. The customer’s overdraft limit is determined and reviewed on an annual basis and valid no more than 1 year. The overdraft tenor starts from the effective date of the Overdraft Agreement. Overdraft transactions should take place within the overdraft limit validity period. The overdraft limit can be recycled within validity, period provided that the customer makes timely repayment of the principal and interests in full of the overdraft.
The overdraft tenor is the specific tenor that the customer continuously overdraws and is no more than 90 days. Any overdraft over 90 days is deemed as in overdue and will be charged a fine according to relevant regulations of working capital loans.
How to Apply
1. Apply to Hua Xia Bank for the service and supply the following materials:
(1) Application Form of Borrowing specifying general information of the company, overdraft limit, tenor and usage, source of repayment fund for overdraft repayment and guarantee.
(2) Company proofs, including general information of the company, articles of association, business licence with annual check, capital verification report, corporate code certificate, taxation registration certificate, tax payment proof, loan card, CV, specimen of signature and ID document of the legal representative, and the power of attorney and the ID document of the authorized person under authorization.
(3) General information of production, operations and sales of the company.
(4) Audited financial statements of the recent three years and the latest months.
(5) Savings account details, including the correspondent bank, account number, balance, category and volume of settlement business.
(6) Resolution from the company’s decision making board or decision maker to approve of application for the overdraft express service at Hua Xia Bank.
(7) Guarantee documents, including the Board resolution that the guarantor agrees to provide guarantee, background information and financial statements of the recent three years, list of pledge, value appraisal documents and title certificate.
(8) Other materials as required by Hua Xia Bank.
2. Sign the Agreement. Upon examination and approval of Hua Xia Bank, the customer signs the Corporate Account Overdraft Agreement with Hua Xia Bank and pays the overdraft commitment fee as specified in the Agreement. In case that Hua Xia Bank requires provision of guarantee, the Bank will sign the Guarantee Contract with the guarantor.
3. Implement the guarantee. In case that Hua Xia Bank signs the Guarantee Contract with the guarantor, the company should work together with Hua Xia Bank to implement guarantee measures including third-party guarantee, pledge and mortgage, and go through standard procedures of guarantee registration, notarization or pledge insurance and putting the pledge under storage of the Bank.
4. Overdraft. In case that the overdraft is applied at the counter, the accounting staff will process the overdraft transaction. In case of overdraft authorized via the corporate Internet Banking of Hua Xia Bank, the customer can use the self-service to overdraw on the Internet Banking system. Detailed procedures are as follows:
(1) Go to the Internet Banking webpage and use transfer payment;
(2) When the system detects insufficient balance in the account, it will automatically provide information of the overdraft amount, available overdraft limit, overdraft interest rate, and tenor;
(3) Upon confirmation of overdraft, the transaction will be completed.
5. Make repayment. The customer repays the overdraft amount as agreed.
Price
The service fee consists of the overdraft limit commitment fee and the overdraft interest.
The overdraft commitment fee is collected in lump-sum when the customer signs the Agreement. The annual fee rate is determined by the customer and Hua Xia Bank upon consultation.
The overdraft interest rate is determined on the basis of the 6-month working capital loan interest rate set by the Bank for the specific customer plus a certain percentage up, minimum 20%.
For enquiries, please contact
Teller at the counter of the depository bank
Customer Manager of the depository bank
e-Banking staff at any branch
95577 for the call center
Introduction
The E-Commerce Payment Express is a cash management product tailored to domestic e-commerce businesses that provides multi-dimensional online payment services.
Functions
1. Direct payment. Suitable for the B2B commercial websites that are operated by prestigious market leaders. The buyer logs on and shops at the B2B website, confirms the transaction and makes payment directly. The seller takes the order and delivers the goods upon receipt of payment.
2. Indirect payment. Suitable for the B2B commercial websites as intermediaries between buyers and sellers. The buyer pays a trade deposit or makes prepayment of goods to the intermediary settlement account of the website. The seller delivers the goods. After the buyer receives the goods, the proceedings will be transferred from the intermediary settlement account to the seller’s account.
3. Bank custody. Member vendors put its fund under the custody of a bank and can enquire, increase or reduce the fund in its capital account with the trading center at the bank counter or via the B2B online banking payment system.
Features
1. Quick in identifying business opportunities. Through the B2B transaction platform, it helps to quickly gather a large number of traders and enhance trading opportunities.
2. Quick in making online payment. It offers trading under direct payment, indirect payment and bank custody, supports payment for single and bulk trade, is easy and convenient to use, and pays in a timely manner.
3. Quick in providing customized services. The system accommodates various needs via different B2B trading methods.
4. Flexible function settings. It allows various fee structures and multi-level authorization management.
How to Apply
B2B Commercial Website Operators:
1. Opens an RMB settlement account in Hua Xia Bank and applies for the corporate Internet Banking services.
2. Sign the Hua Xia Bank B2B Online Payment Cooperation Agreement and fill out the Hua Xia Bank B2B Online Payment Member Store Application Form.
3. Download the digital certificate using the development port software application of the development package provided by the Bank and use the service after testing.
B2B Traders:
1. Opens an RMB settlement account in Hua Xia Bank and applies for the corporate Internet Banking services.
2. Sign a tri-partite cooperation agreement with Hua Xia Bank and the B2B commercial website operator.
3. Download the digital certificate upon approval of Hua Xia Bank, sign the agreement with the Bank and use the service after testing.
Price
The fee structure, standard and tenor are set under consultation and agreement between the B2B commercial website operator and the Bank branch where the operator has a bank account.
For enquiries, please contact
Teller at the counter of the depository bank
e-Banking staff at any branch
95577 for the call centre
Introduction
The Bank-Customs Link is a cash management product by which Hua Xia Bank, working together with the Customs, offers one-stop financial services including customs clearance and duty payment to importers and exporters via the e-Port platform.
Functions
1. Filing of User Information: Corporate users submit via the China e-Port website the online duty payment service filing application to the Bank’s back office. After check and approval, the system will automatically send a receipt to complete the filing at the Bank’s end. The Bank system supports multiple accounts for one single corporate user for filing the customs duty payment.
2. Appointing the Payer: The customs clearance applicant can appoint online a customs payer based on its Duty and Fee Payment Agreement with the Business Partner and the Shipping Partner, after it retrieves the Customs Duty Notice on the China e-Port. The payer must one of the Applicant, the Business Partner or the Shipping Partner listed on the Customs Declaration for Duty Form. It must sign the Online Payment Agreement with Hua Xia Bank. Its person-in-charge must be authorized both by the user and by the Bank and has the right for payment from its corporate account.
3. Duty and Fee Payment: Importers and/or exporters retrieve and check the Customs Duty Notice on the China e-Port and give the Bank a payment instruction online. The Bank receives the instruction, makes direct transfer from the user’s account at the Bank, and returns a confirmation message. Then the user can apply for customs clearance. Online payment is currently available for 14 duties and fees: import tariff, export tariff, anti-dumping tariff, import VAT, penalty and confiscation fines, duty suspension interest, consumption tax suspension interest, VAT suspension interest, import consumption tax, post items, supervision fee, fee for delayed declaration of import goods, deposit, and late payment fee.
Features
1. Quick in customs clearance. No transportation cost or hassles, 24 hours continuous services, convenient for customers to apply online for customs clearance and tax and fee payment at any time and place.
2. Prompt feedback on work progress. Real-time enquiry about the work progress of customs clearance and duty and fee payment.
3. Lower risk in payment. Online duty and fee payment without any paper document delivered and transferred, advanced enciphered technology of the IC card, third-party CA identity verification and digital signature for data security.
4. Comprehensive banking services: Multi-dimensional services like Internet banking and financing.
How to Apply
For Starting the Service:
1. Sign up at the China e-Port, get the IC Cards for the customer’s legal representative and the person-in-charge after being approved, and get ready for next steps;
2. Open a bank account at Hua Xia Bank for customs duty payment;
3. Sign a Service Agreement with the Customs, Hua Xia Bank and China e-Port Data Center.
4. Apply for filling of the user filing, person-in-charge filing and authorization at the Customs and Hua Xia Bank via the e-Port, and start the service upon approval of the Customs and Hua Xia Bank.
For Using the Service:
1. The customer applies for customs clearance at the Customs;
2. The customer logs on the e-Port to enquire about the Notification of Customs duty and instructs Hua Xia Bank to make payment;
3. The Bank processes the Customs duty payment instruction automatically and returns with an affirmation receipt;
4. The customer goes to the Customs premise for goods inspection and release with relevant instruments;
5. The Bank keeps the Customs Duty Check List and returns the Customs Duty Payment Receipt to the customer.
Price
Normal settlement service fee, no extra fee charged by the Bank.
For enquiries, please contact
Teller at the counter of the depository bank
e-Banking staff at any branch
95577 for the call center
The Super Remittance Express is a cash management product that helps international settlement clients to select the best remittance route(s), facilitates money collection and payment in a timely manner around the globe, and improves working capital payback. It includes Instant FX, Cross-the-Strait Money Transfer, and U.S. Dollar/Euro Full No Deduct.
Remittance Express: Instant FX
Introduction
The Instant FX is a foreign exchange remittance product portfolio designed to meet customers’ needs for prompt money collection and payment.
Functions
1. Direct Collection: making direct payment to customers in advance based on the pre-set Hua Xia Bank’s branch/subsidiary code and bank account information. Payment is made at T+0, rather than T+2. Transaction is completed within 3 hours.
2. Simultaneous Payment: streamlining the whole process of dealing with customers’ remittance application, inter-bank position transfer, foreign exchange transaction settlement fund payment, syndicate loan and credit loan payment. Hua Xia Bank conducts simultaneous clearing with the overseas correspondent bank starting from receipt of customers’ remittance application. The transaction is dealt with at T+0, rather than T+2. The Bank sends the payment notice to customers within 4 hours.
3. Interest Accrued on the Same Day in Asia: Hua Xia Bank has entered into agreement with Citibank with regards to prioritization of payment processing , extended service hours and also signed the settlement account agreement with HSBC and BOC Hong Kong to get involved in the USD clearing system in the Hong Kong SAR in order to meet the needs of timely foreign exchange payment and collection of its customers in Asia.
4. Email Notification: Hua Xia bank, working jointly with Citibank, has launched the USD remittance email notice service that informs customers of the remittance processing status via email and enables customers to confirm remittance transactions.
5. Multi-Currency Remittance: making foreign currency payment for customers using the USD account via its branch network, no need for foreign exchange transactions in the open market, which can make payment in 105 currencies (including convertible and non-convertible currencies).
Features
1. Prompt payment and collection: selecting best available remittance route(s) to minimize on-the way time and achieve direct collection and simultaneous payment. Interest is calculated from the same day in Asia. Money collection and payment are completed within 3 to 4 hours.
2. Fast money turnover: prioritizing payment and extending service hours to minimize on-the-way funds and accelerate customers’ working capital turnover.
3. Quick information feedback: email notices to keep customers posted of the USD remittance status and meet customer needs of transaction confirmation.
4. Large selection of remittance currencies: no need for foreign currency transaction in the open market, easy to apply, available for 105 currencies.
5. Stringent risk prevention: automatic check of repetitive remittance and blacklist screening to ensure fund security for customers.
6. Low remittance costs: favorable rate and flexible fee structure.
How to Apply
1. Open an international settlement account with Hua Xia Bank.
2. Direct Collection: the customer provides the remitter with the specific collection approach of various currencies.
3. Simultaneous Payment: the customer provides Hua Xia Bank with accurate, complete and standard remittance instructions and other supporting materials.
4. Interest Accrued on the Same Day in Asia: the customer submits the remittance application and other supporting materials to Hua Xia Bank before 14:30 and provides accurate, complete and standard remittance instructions, including the payee account number and name and name of the bank.
5. Email Notification: the customer provides Hua Xia Bank with the email box and accurate, complete and standard remittance instructions.
6. Multi-currency Remittance: the customer submits a remittance application.
Price
1. Direct Collection:
a) Foreign exchange collection: free.
b) Remittance to other banks: RMB 50 per transaction.
2. Simultaneous Payment:
a) Payment: 1‰ of the remittance amount in RMB, minimum RMB 50, maximum RMB 1,000 (RMB 800 for Instant Euro Remittance).
b) Telegraph charge: RMB 150 per transaction (RMB 80 for Hong Kong, Macau and Taiwan).
c) Amendment or cancellation: RMB 100 per transaction.
d) Prioritized payment: Outward remittance service fee plus RMB 80.
3. Interest accrued on the Same Day in Asia: same as the Simultaneous Payment, 1‰ of the remittance amount in RMB, minimum RMB 50, maximum RMB 1,000.
4. Email Notification: the Simultaneous Payment service fee plus RMB 10 per notice.
5. Multi-currency Remittance: the Simultaneous Payment service fee plus RMB 50 per transaction.
Remittance Express: Cross-the-Strait Money Transfer
Introduction
The Cross-the-Strait Money Transfer is a featured product of foreign exchange remittance. Hua Xia Bank tailored this product for Taiwan enterprises. It includes two-way money transfer of outward remittance to and inward remittance from Taiwan.
Functions
This product accelerates the traditional remittance funding time from 2~3 banking days to 2 hours. It makes rapid funding of remittance to Taiwan, reduces the fund in transit, and improves the efficiency of customer's funds.
Features
1. Hua Xia Bank has established correspondent relationship with 49 banks in Taiwan and formed correspondent bank network covering the entire Taiwan Island which ensures seamless money transfer across the straight.
2. The customer's fund may be remitted to or from Taiwan banks to ensure the rapid two-way fund transfer needs of the customer.
3. The USD remittance is completed no more than 2 hours in the morning of Beijing Time, which is before the start of value date in the US.
4. It maximizes customer convenience. The fund may be cleared in US dollars in regions with US dollar as the functional currency, or be cleared in US dollar in Hong Kong to ensure the funding before the closing of value date.
How to Apply
1. The customer opens an international settlement account with Hua Xia Bank.
2. The customer presents to Hua Xia Bank the remittance application and other relevant documents before 14:30 pm.
3. The customer supplies to Hua Xia Bank the correct, complete, and standard remittance instructions such as remittee account number, account name, and depository bank name.
Price
1. Foreign exchange remittance collection: Free of charge.
2. Foreign exchange remittance: Remittance service fee (1‰ of the equivalent RMB amount of the foreign exchange remitted, minimum RMB 50 and maximum RMB 1,000) and communication fee (RMB 80 per transaction).
Remittance Express-- Full No Deduct
Introduction
The U.S. Dollar/Euro Full No Deduct (FND) refers to the service where Hua Xia Bank ensures full remittance fund collection by the payee with no deduction on the fund. When a customer applies for the USD outward remittance at Hua Xia Bank, Hua Xia Bank locks the intermediary bank's deduction cost to ensure that the amount of outward remittance is consistent with the amount collected by the payee.
Functions
When the company makes overseas outward remittance, and according to the international practice, the company faces increasing remittance cost for increasing number of intermediary banks. This product locks in the costs arising during single international money transfer within USD 25 per USD remittance transaction or ?30 per Euro remittance transaction and ensures the un-deducted fund received by the payee. Such costs include the agency clearing fee of the remittance bank and depository bank, the agency clearing fee of the receiving bank, and fund release fee of the receiving bank. It assists the companies to strengthen trade partnership and to reduce the complaints on clearing deductions by some sensitive corporate clients.
Features
1. Ensures that the payee receives the remittance in full amount.
2. Helps companies to strengthen business partnerships.
3. Provides customized zero-fee USD remittance services to strategic and high-end enterprises.
4. Substantially reduces customer complaints on clearing charges.
How to Apply
1. The customer opens an international settlement account with Hua Xia Bank.
2. The customer supplies to Hua Xia Bank the correct, thorough, and standard remittance instructions including the remitter’s account number, account name, and name of depository bank.
3. It is specified that the remittance is paid in full amount with no deductions.
Price
1. Hua Xia Bank VIP Clients: Remittance Service Fee + Postal and Communication Fee, no additional charges.
2. Other Clients: Remittance Service Fee + Postal and Communication Fee + FND Clearing Fee (USD 25 or ?30 per transaction).
Awards won by the Super Remittance Express Products
The Outstanding Award for USD Clearing Pass Rate by the Citi Group for two consecutive year of 2005 and 2006.
The Excellent Financial Product Award at the China International Financial (Banking) Technology and Equipment Exhibition in 2006.
The Innovation Award by the Beijing Municipal Modern Enterprise Management Innovation Assessment Committee in 2006.
For enquiries, please contact
Teller at the counter of the depository bank
e-Banking staff at any branch
95577 for the call center
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