New Foreign Exchange Kit

Concept of Product

This is firm offer foreign exchange trade for individual persons. To make it easier for customers to select the currency of deposits, convert foreign currencies and avoid exchange rate risks, our bank converts one foreign exchange to another according to the exchange rate on the international financial market.

Advantages of Product

1.      The centralized nationwide networked quotation follows closely the prices of the international financial market to ensure the same trading for customers wherever they may be;

2.      Transaction exposure is under the unified supervision of the head office, which is also squared externally, thereby significantly saving human and material resources and minimizing operation risks;

3.      Trading over the phone, online trading, self-service trading and trading over the counter. 24-hour online and telephone-enabled trading are available for customers (except when the international financial market is closed) to provide maximum convenience for customers;

4.      The forms of order provided include market orders, listed orders and stop orders. An order may remain valid for 7 days at maximum to help customers avoid risks both ways;

5.      Complete categories of currencies for trading, including USD, HKD, JPY, EUR, GBP, AUD, CAD and CHF.

Characteristics of Product

1.      The account of CGB New Foreign Exchange Kit can be used for all varieties of transaction and provide the same price for currency notes and spot exchange. The funds can be traded once they are transferred into the account.

2.      The threshold amount for trading is 100 JPY and 100 HKD. For other currencies, there is no limitation of threshold amount. The banks charges no additional costs or handling fees.

3.      A customer who reaches a certain amount in a single transaction can enjoy preferential quotations of varying grades to get more competitive prices.s

4.      The value day is ¡°T+0¡±, meaning that a customer may sell (buy) what he/she has bought (sold) in a day for unlimited number of times.

Operation Process

1.      A customer may carry valid personal identity certificate, fill out an application for opening an account of CGB New Foreign Exchange Kit at a CGB business outlet and sign the agreement on the service to own an account.

2.      If a customer authorizes an agent to open the account, the identity certificate of both the agent and the customer should be provided in original and copy together with a power of attorney signed by the customer.

3.     For detailed information, please read the Regulations of China Guangfa Bank on the Management of Foreign Exchange Kit Business (Guang Fa Yin Ji [2001] No. 109).

4.      Foreign currency deposit