rmd trade

RMB Trade Settlement Account

Quick and easy RMB transactions

At a Glance
Manage remittances, foreign exchange, and finance your trade efficiently in Renminbi.
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More savings

Save on foreign exchange conversion charges

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Stronger ties

Strengthen business ties with your Chinese business partners by settling cross-border transactions quickly

Competitive edge

Mitigate FX risk and gain an advantage by paying in RMB

Features & Benefits
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Improve your supplier relationships in China

Faster tax rebates and lower supply chain costs for your supplier

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Save on FX conversion charges

Avoid exchange risk if your company has both RMB inflows and outflows

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Save money with no initial deposit

No minimum monthly balance is required to open an account

How to Apply

Arrange for our Relationship Manager to call you.

Call us on 1800 222 2200 or +65 6222 2200 (from overseas) for more details.

Not a DBS SME Banking customer?

Apply online now. Enjoy free IDEAL set-up and fee waivers. T&Cs apply.

FAQs
My company has an RMB Trade Settlement Account. Can I open one with DBS?

Yes, you can open RMB Trade Settlement Accounts with different banks.

Will I receive an RMB chequebook with my account?

RMB chequebooks are not provided.

What is the SWIFT/currency-code for the account?

The SWIFT/currency code for an RMB Trade Settlement Account is CNY.

Is there a limit on the number of RMB remittance I can make?

No, there are no limitations as long as the transactions are for trade settlement.

What services are available in the RMB Trade Settlement Account?

We offer remittances, trade services, foreign exchange.

Can I place RMB Fixed Deposits?

Yes, you can place RMB in a DBS Foreign Currency Fixed Deposit Account. The funds placed must be from trade transactions that meet regulatory requirements.

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