Foreign Institution RMB Account Management Service

Financial institutions and central banks can open RMB accounts in Bank of China Johannesburg according to their business needs and complete all kinds of RMB transactions according to the business scope stipulated in the account agreement. The Johannesburg branch will provide them with deposit rate quotes, account inquiries, statement services and a series of account management and maintenance services.

Applicable customers：

All financial institutions and central banks with RMB business needs.　

Financial Institutions RMB Clearing Business

Refers to when the institution that has opened a RMB account in the Johannesburg branch (The "participating bank") sends RMB remittance instructions to the JHB branch, where JHB branch will accept the instruction and through various clearing systems remit the funds to the beneficiary bank; or when the JHB branch receives payment instructions from other banks and credit the funds to the participating bank's account with JHB branch. Meeting the cross-border RMB clearing needs of participating banks to provide the most convenient and efficient RMB clearing services.

Applicable customers：

Institutions that has RMB clearing account at Bank of China Johannesburg branch

Participating Banks CIPS Indirect Participant Agency Services

Enhancing the global financial institutions’ in-depth collaboration for RMB by assisting the participating bank joining the CIPS system, changing its properties in the CIPS system to an “indirect-participant” without changing any of the current business procedures, account relationships etc. The participating bank will then become a CIPS indirect participant under the direct participant, Bank of China Head Office (BKCHCNBJXXX), enjoying  all the clearing convenience and advantages of being a CIPS indirect participant.

Applicable customers：

Participating banks with their CIPS-related information approved by the CIPS agent and the Bank of China Head Office.

The RMB Cash Business

The RMB cash business refers to the RMB oversea participants in need of RMB cash and buy RMB cash thr Overseas RMB  Participants with RMB Cash Demand.ough foreign Applicable customers：

Overseas RMB Participants with RMB Cash Demand.

Customer Service Hotline:

Operation Department

Business Hours： 9:00-15:30

Tel：+27 11 520 9633

Email：opd@boc.co.za

Business Development Department - Financial Institution Team

Business Hours： 9:00-15:30

Tel：+27 11 520 9774

Email：bdd@boc.co.za