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Cross-Border Cash Management


(Cross-Border Cash Management)

 

Introduction

Cross-border cash management is a set of cash operation and management solutions, with which Bank of China provides cross-border, corporate groups, by taking advantage of its branches over the world and numerous correspondent banks. It provides services such as information enquiry for cross-border accounts, centralized management of internal funds and unified management on accounts payable and debts receivable.

Corporate requirements for cash management services are varied due to different modes of corporate operation. Bank of China customizes corresponding schemes for cross-border cash management based on corporate requirements and management features, so as to meet the requirement of cross-border operation, and improve its capability in centralized fund management.

Functions

1. Cross-border globalized service

The main feature of cross-border cash management is that it ends the separation between domestic market and overseas market under the traditional cash management services and it includes corporate branches of different areas into the scope of unified cash management service, so as to effectively meet the requirement of globalized cash management for domestic outgoing corporations.

For corporations located abroad where Bank of China branches are already established, Bank of China provides with swift and convenient one-stop service through its online banking covering areas at home and abroad. For corporations located abroad where Bank of China branches are not established yet, Bank of China will share information and transmit data with the inter-bank extensively used SWIFT network, based on the cooperation with correspondent banks.

2. Giving full play to the platform function of Bank of China (Hong Kong) Limited

Bank of China (Hong Kong) Limited has played a key role in providing the service of cross-border cash management for numerous domestic outgoing corporations by means of Hong Kong's advantage of international financial center and its advanced cash management service. For domestic outgoing corporations with its funds management center established in Hong Kong, Bank of China (Hong Kong) Limited may provide with customized service of cash management through its cash management platform. This platform has been connected with Bank of China overseas online banking system, so as to ensure the direct management of corporate funds management center on capital operation at home and abroad.

3. Flexible combination and extensiveness of products

At present, cross-border cash management service can provide such core services as account information enquiry, fund pulling and sweeping. Corporate group with its headquarter or funds management center established in Hong Kong, may enquire account information of its domestic and overseas branches and offices, and may conduct fund transfer among account in various areas (except for those transfers from inland to overseas or provided in the local Administration of Foreign Exchange) via online banking of Bank of China (Hong Kong) Limited. Corporate groups with headquarters or funds management centers established in mainland, can enquire account information of the branches and offices in Hong Kong or overseas areas where there are Bank of China branches (which might spread throughout the world in the future),and conduct fund transfer among accounts in various areas (except for those transfers from mainland to overseas or provided in the local Administration of Foreign Exchange) via Bank of China online banking.

Before the end of 2010, With Bank of China Cash Management Platform put into production, products such as pooling and virtual sub-account have been realized for the first time. Furthermore, such value-added products as the cross-border sweeping, overall interest calculation of group, cross-border virtual sub-account collection and trade financing products will be realized in the future. At that time, the service quality and the scope of cross-border cash management will be further improved.

Target Customers

Mega group customers with inter-regional operation, especially the outgoing corporations with the headquarters or funds management centers in Hong Kong or mainland, as well as the multinational corporations established in China.

Process

1. Design the scheme for requirement. Cash management sales account managers will accept customers' requirement of cross-border cash management service, and design the scheme based on the requirements with online banking department managers.

2. Contracting management and system maintenance.

When the scheme is determined, Cash management department will sign relevant cash management service agreement with the corporate customer. The customer and its branches and offices shall submit relevant service application form and letter of authorization, as well as other necessary documents at the same time. Bank of China mainland and overseas branches and Bank of China (Hong Kong) Limited will complete the contracting and parameters maintenance in the system for the local corporate customers.

3. Service providing

Customers can receive, enquire and download data, carry out various operations for fund pulling and sweeping through Bank of China online banking (including bank-corporate cooperation) according to the customized service type. In this procedure, Bank of China will follow up with the using situation of the product and know about the changes of customers' requirements, as well as constantly adjust service content.

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