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RMB Products and Services

Unlock the tremendous potential of RMB

RMB Products and Services

Unlock the tremendous potential of RMB

At a glance

Given China’s strong economic outlook and recent economic policy reforms, it has become one of the most favoured destinations for long-term investments. RMB internationalisation will continue to accelerate and generate more growth opportunities and investment choices. Broaden your network and seize the RMB opportunities that await you now.

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Why partner with DBS
  • Leading presence in Asia
    DBS is leading financial services group in Asia with a presence in 18 markets. DBS is well-positioned and equipped with professional expertise to support our customers to capture growth and investment opportunities from the acceleration of RMB’s internationalisation given our strong presence in the three key Asian axes of growth: Greater China, Southeast Asia, and South Asia.
  • Seamless cross-border coordination
    DBS has a consistent framework of nimble offshore/onshore coordination between Mainland China, Singapore, and Hong Kong SAR, better serving customers with cross-border financing and transaction needs.
  • Safe and reliable
    DBS has been named the Safest Bank in Asia by Global Finance for twelve consecutive years. DBS’ "AA-" and "Aa1" credit ratings are among the highest in the world.
  • Bank digitally with ease
    Enjoy unparalleled convenience with on-the-go access to all your business banking services via DBS IDEAL, our online banking platform. DBS was also recently voted as the world’s Best Digital Bank in Euromoney’s Global Awards for Excellence 2021.
  • Comprehensive products and capabilities
    Easy to open business account for you to manage remittances (extended cut-off and tracking via SWIFT gpi) and FX transactions while trading efficiently in RMB.
Our Comprehensive Suite of RMB Products and Services

RMB Business Multi-Currency Account

  • Manage Offshore RMB (CNH) and up to 12 other currencies in separate wallets under a single account.

RMB Remittance

  • Cut-off time (4:00pm) and SWIFT gpi fund tracking for Offshore RMB (CNH) remittances.
  • Enjoy faster Offshore RMB (CNH) cross-border payments to across DBS network via PriorityPay 

RMB Foreign Exchange

  • Exchange Offshore RMB (CNH) instantly 24/7 and up to a year in advance via FX Online
  • Set price alerts to maximise opportunities on FX movements and mitigate your FX risk.

RMB Trade

  • Expand your supplier and buyer networks in China by using their preferred currency – RMB.
  • Mitigate exposure to FX risks via the natural hedge provided by RMB inflows and outflows.

RMB Liquidity Management

  • Benefit from cash concentration, notional pooling, cross-bank sweeping, regional interest optimisation services and more.
  • Improve operational efficiency with real-time dashboards providing instant balance information, automated intercompany loans tracking, and cross-border quota limits.
  • The Rise and Digitisation of the Renminbi


  • Contours of the GBA Wealth Connect


  • Understanding China : RMB Internationalisation 2.0


  • Understanding China: GBA integration gathers pace


  • China’s onshore bond and FX markets – A primer for foreign investors


Do I need to submit any additional documentation to open an Offshore RMB account?

Yes, you are required to submit the Customer Declaration to open your Offshore RMB (CNH) Foreign Currency Current Account, Fixed Deposit Account, or to opt-in and activate your Multi-Currency Account Offshore RMB (CNH)-wallet. 

What is the currency code for the account?

The currency code for the Offshore RMB wallet of the Multi-Currency Account is CNH. 

Will I receive a RMB chequebook with my account?

Offshore RMB (CNH) chequebooks are not provided.

Can I make RMB payments to China?

Yes, payments in Offshore RMB (CNH) can be made to all countries, including China. For Offshore RMB (CNH) payments to China, genuine payment purpose code must be specified. Offshore RMB (CNH) payments are subject to RMB Service Terms

Do I need to submit supporting documents for RMB payments China?

While supporting documents are not required to be submitted by the remitting party for RMB (CNH) payments to China, genuine payment purpose code must be specified. Offshore RMB (CNH) payments are subject to RMB Service Terms

Is there a limit on the number and/or value of RMB remittance I can make?

No, there are no limitations.

Can I place RMB Fixed Deposits?

Yes, you can place Offshore RMB (CNH) in a DBS Fixed Deposit Account. 

Get in touch


From overseas: +65 6222 2200
In Singapore: 1800 222 2200
Operating hours: 8.30am to 8.30pm, Mon - Fri (excluding PH)