Opening an account in OCBC Wing Hang China - YB Case 2024

OCBC Wing Hang China

OCBC Wing Hang China

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A general information: OCBC Bank was first opened in China in 1925. OCBC Wing Hang Bank was founded in 2016 as a result of the merger of OCBC Bank and Wing Hang Bank. The main directions for the development of international relations are Singapore, Malaysia, Indonesia, Greater China. The bank managed to open 560 representative offices in 19 countries. A headquarters of OCBC Wing Hang Bank is located in Shanghai.

Why is opening an account WITH OCBC Bank more promising, than with other banks?

  • This bank is the invariably part of the 50 most reliable global banks according to Global Finance.
  • OCBC bank offers such a list of services through an international financial network: loans, deposits, trade finance, a cash management, international payments, investment products, inter bank settlements in RMB, the network financing, the Internet banking.
  • It also offers individual loans for small/medium businesses.
  • Free personalized debit cards are available.
  • You can use the remote asset management.

How to register an account with OCBC Bank for a non-resident?

The Bank provides support to foreign and local financial institutions, and clients of the OCBC Bank network. It requires the registration of a company in Singapore (to which it is planned to open an account), but for all other enterprises you need to apply for a business foreign account.

It is possible to open an account for a company in China remotely with OCBC Bank. We advise you to order advice of a professional expert on opening accounts in China by calling our specialists on the contacts indicated on the site.

You can register an international bank account in China in RMB (CNY), US dollars or AUD, CAD, GBP, HKD, NZD, CHF, EUR, JPY.

Tariffs OCBC Bank China

  • A minimum initial deposit (the account in EUR) is 5,000 EUR.
  • The minimum initial deposit (the account in CBP) is 5,000 GBP.
  • Incoming are 7 EUR.
  • Outgoing are 1,8%, from 7 EUR to 78 EUR.
  • A credit card issuance is 4 EUR.
  • The monthly account maintenance fee is 20 EUR. * a course at the time of publication of the article.
  • SEPA Eurozone transfer system is not supported.

A minimum deposit to establish a commercial firm in China is 500 USD.

After that, an average monthly income of 3,000 USD should be maintained.

There is an annual fee of 38 USD.There is a 0,5% discount on all expenses in foreign currency, using the OCBC Business Debit Card.

Investment bonuses

The maintenance cost varies depending on the size of the income.

The average monthly balance

A service charge

Below 1000 USD

15 USD

25 000 Euro and below

Temporarily absent

Above 25,000 euros

0,5% per annum

The Bank provides a 0,5% discount on expenses in a foreign currency and a 0,2% discount on expenses in a local currency.

Documents required to OPEN a bank account with OCBC Bank:

  • A decision of a Board of directors;
  • A certified copy of the MOA, the Charter;
  • Certified authentic photocopies of NRIC of all authorized members/representatives of offices
  • A certified copy of the minutes of the meeting of shareholders;
  • The initial deposit in cash/by check;
  • Some legal forms do not require all of these documents.

In addition to professional advice on opening an account in China with OCBC Bank, you can also receive qualified advice on opening accounts with other banks, and also support services in registering a business in China from our experts.

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