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Corporate Banking

Check

Introduction

The check is a bill issued by the drawer that the bank entrusted to handle check deposit business pays a specified amount to the payee or bearer unconditionally at sight. The check can be divided into cash check, transfer check and common check. Prompted payment term of check is 10 days since the date of draft.


Scope of application

It's applicable to corporate customers, institutional customers and individual customers in the same clearing area.


Functions

The product can meet various amount settlement requirements for customers. The cash check can be used to withdraw cash from deposit accounts in the bank. Transfer check can be used for transfer settlement, and can be transferred by endorsement within the valid period.


Procedures

1. The drawer applies to the opening bank for the check. When applying, Requisition of Bill and Settlement Certificate should be completed and annexed with the reserved stamp.

2. The drawer issues transfer or cash check based on the need of trade payment or cash withdrawal. The check should be annexed with the reserved stamp and completed with carbon ink or ink.

3. Give the check to the payee. If the drawer withdraws the reserved cash, cash check should be issued to withdraw cash from the opening bank directly.


(Note: For details, please call 961 111 or come to the nearby GRCB outlet.)

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