Special purpose accounts
Strengthen business relationships with your Chinese trading partners
Strengthen business relationships with your Chinese trading partners by settling your cross-border transactions quickly and easily. Our RMB Trade Settlement Account helps you efficiently manage remittances, foreign exchange and finance your trade. Through this account, you can save on foreign exchange conversion charges, mitigate your FX risk and gain a competitive edge by paying in RMB.
Why choose DBS RMB Trade Settlement Account?
Yes, companies are allowed to open RMB Trade Settlement Accounts with different banks.
No. RMB chequebooks are not offered.
The SWIFT-/ currency code for an RMB Trade Settlement Account is CNY.
There are no limitations as long as the transactions are for trade settlement.
Yes, you can open a DBS Foreign Currency Fixed Deposit Account for the placement of RMB Fixed Deposits. However, the funds placed must be received from trade transactions that meet regulatory requirements
We offer the following services under our RMB Trade Settlement Account: remittances,
trade services, foreign exchange and fixed deposits.
How do I apply?
Simply call us at 1800 222 2200, or +65 6222 2200 if you are calling from overseas to apply. Alternatively, please speak with your relationship manager.
Not a DBS SME Banking customer? Enjoy IDEALTM set-up and monthly fee waivers* by starting your DBS Business Account application online. This service is available to Sole Proprietorships, Partnerships, Limited Liability Partnerships and Private/Limited Companies.
*Terms & Conditions apply