Payment Service
ABC offers diversified payment products and services through various channels to enable customers to have more effective control of payment and to enhance risk management while improving payment efficiency.
Tong Hui Bao
ABC pays the exact amount as instructed by the remitter to the payee through electronic funds transfer.
Corporate and individual customers may make various types of settlement either by bank transfers or by cash remittance. A cash remittance is available only when both the remitter and the payee are individuals. Intra-city transfers, inter-city transfers, and inter-bank transfers are all supported and the funds will be credited to the payee account on a real-time basis if express remittance service is selected.
Procedures: The remitter signs the remittance voucher at an ABC outlet with relevant documents, and ABC transfers the money to the payee's bank after the documents are reviewed and the due amount of money have been received. ABC then issues a remittance receipt to the remitter.
E-Payment
The customer can make money transfers through his/her own accounts or authorized accounts easily through various electronic platforms of ABC: the Bank-enterprise Express, the Bank-enterprise Connectivity platform, the Inter-bank Connectivity platform, and online banking.
Multiple currencies including RMB are supported. Multiple payment methods such as reserved payment and batch payment are supported. Intra-city transfers, inter-city transfers, and inter-bank transfers are all available.
Procedures: The customer applies at an ABC outlet for access to Bank-enterprise Express or online banking, then signs relevant agreements, and grants relevant account authorization.
Agency Regular Payment Service
According to the agreement with relevant parties, ABC regularly debits from the account of the payer and then makes payment to the designated payee by batch. This may include payments for insurance premiums, pensions, and so on.
This service is designed for corporate customers who must make payments to multiple payees periodically. The payments will be credited to the payee accounts on a timely and secure basis.
Procedures: The customer applies at an ABC outlet, signs the relevant agreement, and provides such information as the payee accounts and amounts of payment. ABC then makes payment from the account of the payer to the payees regularly.
Payroll Service
The customer can authorize ABC to distribute salaries at an ABC outlet counter or via electronic platforms. ABC then debits from the designated account and transfers the specified amount of money to the employees' accounts, including passbooks, debit cards, quasi-credit cards, and institution credit cards.
Both ABC accounts and accounts with other banks are supported, to which the funds will be credited timely nationwide.
Procedures: The customer makes application at the ABC outlet in which the account is opened, designates an account for the purpose of payroll service, and signs the Payroll Service Agreement. If the payroll service is to be provided electronically, the customer also needs to register for access to the Bank-enterprise Express or onto the online banking service.
Expense Reimbursement Service
The customer may, through various electronic platforms of ABC, complete reimbursement service for expenses incurred by the employees for business purposes. The amount reimbursed may be credited to the employees' accounts such as ABC debit cards, quasi-credit cards, credit cards, or institution credit cards.
No cash is required and funds will be directly credited to the employees' accounts.
Procedures: The customer applies to the ABC outlet where the account is opened, signs the relevant agreement, and registers for access onto the Bank-enterprise Express or online banking service. Then the customer can process reimbursements electronically.
Roaming Remittance
The customer can make remittance at an ABC outlet or via online banking while the payee can receive the money at any ABC outlet nationwide or via online banking.
This service provides secure and easy nationwide remittances and withdrawals.
Procedures: The remitter remits money through an ABC outlet or via online banking, and the payee can receive the money at any ABC outlet or via online banking with his/her valid identity certificate, remittance number, and password.
Cheque
A cheque is an instrument signed by the customer to instruct the paying bank to pay on demand a given amount of money unconditionally to the payee or the bearer.
Entities and individuals can use cheques for settlement as permitted by the PBOC.
Procedures: The corporate or individual customer applies to ABC to open a cheque account, and upon approval may purchase, sign, and issue cheques as needed.
Promissory Note
The promissory note is an instrument issued by the bank, undertaking to pay on demand a given amount of money unconditionally to the payee or the bearer.
Entities and individuals can use promissory notes for settlement as permitted by the PBOC. Promissory notes shall be paid at sight and are transferable with endorsement.
Procedures: The applicant submits an application to ABC and pays the face value of the promissory note before the issuance. Cash promissory notes are issuable only when both the applicant and the payee are individuals.
Bank Draft
The bank draft is an instrument drawn by the bank, undertaking to pay on demand the actual settlement amount unconditionally to the payee or the bearer.
Both legal entities and individuals can use bank drafts for all kinds of settlement. ABC will make the payment at sight of bank drafts drawn by any ABC outlet while the balance will be refunded automatically. The bank drafts are transferable with endorsement during the validity period.
Procedures: The applicant submits the application to ABC and pays the face value of the draft before the issuance. Cash bank drafts are issuable only when both the applicant and the payee are individuals.