ICBC global cash management services encompass the essence of financial services of a professional firm. The services deliver such cash management services to companies as global account management, centralized collection/disbursement and cash pool, backed by strong IT, a wide network of domestic and overseas subsidiaries and partner banks. ICBC global cash management services help customers gain an accurate picture of the company's cash positions in China and overseas in a timely manner, allocate the domestic and overseas receivables and payables from one location and pool cash around the globe. To a company, the objective is to perform intensive management on the cross-border funds held with banks around the world and reduce treasury risk in multinational operations.
ICBC, based on the full understanding of customer requirements, help customers build an account system for global cash management leveraging its network of domestic branches, overseas subsidiaries and partner banks.
Through ICBC "single point access", customers easily manage their cash balances in national and international accounts and enjoy all the "one-stop", convenient financial services.
Being the largest and leading cash management bank in China, ICBC has strong competitive edge in the delivery of global cash management services:
(I) Strong IT platform: ICBC is dedicated to build a unified IT platform across the world. At present, the international leading core business system and global cash management system, in home and foreign currencies and covering domestic and overseas businesses, have been successfully installed in ICBC overseas subsidiaries in succession. The two systems represent a unified framework and electronic banking service channel in all domestic and overseas branches of ICBC featuring multi-branch, multi-currency, multi-lingual across different time zones. Once completed, they will be the most powerful overseas business processing system in the China's banking sector.
(II) Global subsidiaries: In a move to provide best-quality global cash management services to the multinational corporations around the world, ICBC begins from preparing and building a network of outlets and enhances its own service capacity. By year-end 2010, ICBC has a global network comprising 203 overseas subsidiaries in 28 countries/regions and 1,453 correspondent banks in 132 countries/regions, building presence in the markets of Asia, Europe, America, Australia, Africa and Middle East.
(III) Professional service team: As required by the global cash management services of high technology and high value-added, ICBC builds a competitive team of staff who are international, professional and equipped with knowledge in different domains. They work as a team at all levels, Head Office - domestic/overseas branches, partner banks - outlets, providing expert-grade of global cash management services for domestic/overseas subsidiaries of all companies and ensuring the successful implementation for their cross-border treasury management projects, together with top-quality, highly efficient follow-up services.
(IV) Comprehensive service solution: Through the comprehensive, personalized and automated platform for global centralized treasury management, ICBC designs and implements comprehensive services for multinational corporations, encompassing global account management, collection/disbursement management, liquidity management, risk management, investment and wealth management under one roof. ICBC also offers tailored solutions to support the international operation of companies, helping them check accounts held in banks around the world and achieve centralized treasury management. ICBC global cash management solution offers many benefits: timely information about national and international accounts for the company headquarters, flexible control on payments, allocation of company funds globally, faster turnover of working capital, risk mitigation in multinational operations, use of internal funds to the maximum, and finally, improved company value and core competence.
ICBC, currently the most profitable bank in the world with the largest market value, aims to become a world-class modern financial firm. The Bank is moving forward, using trustful services and professional capability to help customers around the world manage their assets and create wealth.
Note: Information herein is for reference only. Refer to the announcements and regulations of local outlets for further details. ICBC reserves the final right of interpretation.
Centralized Collection/Disbursement
Centralized collection/disbursement refers to the collection/disbursement instructions issued by the customers on ICBC/partner bank accounts, where collection/disbursement instructions on ICBC accounts are processed by ICBC, collection/disbursement instructions on accounts of partner banks are forwarded by ICBC to partner banks for subsequent processing. Partner banks return the result of processing which will be sent to customers via ICBC.
Centralized collection/disbursement provides customers with single point access. ICBC automatically chooses the most optimal path depending on the type of collection/disbursement.
(I) Support accounts held indifferent banks Enable collection/disbursement between accounts of ICBC, between accounts of ICBC and other banks and between accounts of other banks.
(II) Support collection/disbursement in different currencies Allow customers to send collection/disbursement instructions in RMB, foreign currencies (including domestic and overseas).
(III) Counter services support mixed instructions in a package Counter services allow customers to mix collection/disbursement instructions of different currencies, different banks, different types into one instruction package and send to ICBC. ICBC automatically sorts the instructions by the features.
(IV) Support access from different channels Centralized collection/disbursement instructions can be submitted via different channels, including Bank-Enterprise Interlink, Internet Banking or at the counter.
(V) Support different posting options When submitting collection/disbursement instructions in batch, customers can opt for posting each instruction or in summary for easy posting by the financial person.
Note: Information herein is for reference only. Refer to the announcements and regulations of local outlets for further details. ICBC reserves the final right of interpretation.
Cross-border Cash Pool I. Physical Pool
1. Unified global/regional treasury management. Physical pool is mainly used in multinational corporations, where the cash reserves of the company's overseas subsidiaries are gathered to specific country/region to build a global cash pool or regional cash pool.
2. Flexible cash allocation. The multilevel framework of physical pool allows customers to automatically sweep the accounts globally or regionally for cross-border treasury activities and interest tax planning. Physical pool supports companies to initiate sweeping, allocation or single cash allocation and enables multinational corporations to allocate liquidity across regions. Moreover, physical pool allows payment made between accounts of higher/lower level as one option for companies to process external payment flexibly.
3. Global account support. In a corporate group, domestic ICBC accounts, overseas ICBC accounts or accounts of partner banks can all be included in a physical pool.
4. Complete information. To customers, physical pool provides a list of internal incoming and outgoing account transactions, a list of successful and unsuccessful pooling/allocation to group headquarters and member companies. The lists are for customers to check the cash pooling or allocation.
II. Notional Pool
Notional pool is designed as required by a corporate group, without the need to transfer in actual cash between different corporate settlement accounts. ICBC calculates the deposit interest and loan interest by combining the net amount after offsetting the balance and overdraft in each settlement account.
1. Combined interest calculation, improving interest income and expense. Under combined interest calculation, interest is calculated on the net position after netting the positive, negative balance of member accounts in the pool in order to narrow the deposit-loan interest spread, reduce interest expense;
2. Internal pricing, strengthening internal management. Group internal management is clearer by estimating the cost for each member account against headquarters according to the account balance size;
3. Liquidity sharing, reducing external debt. Notional pool under liquidity sharing mode enables sharing of amount in all the internal accounts of the Group to raise fund internally instead from outside;
4. Day overdraft, reducing cost of fund transfer. Liquidity cost is reduced since each member account can use the shared liquidity of other accounts without actually transferring any fund.
III. Notes
Cross-border cash pool (including physical pool and notional pool) is a service depending on the regulatory policy and requirement of the domicile country.
Note: Information herein is for reference only. Refer to the announcements and regulations of local outlets for further details. ICBC reserves the final right of interpretation.
Targeted Income/Expense
Targeted income/expense in settlement accounts refers to the control set on the settlement accounts' counterparty according to the agreement between ICBC and customer, including targeted collection, targeted disbursement, targeted collection/disbursement. "Targeted collection" means there are accounts identified for the settlement account's source of funds. "Targeted disbursement" means there are accounts identified for the settlement account's expense. "Targeted collection/disbursement" means there are accounts identified both for the settlement account's source of funds and expense, only transfer from certain accounts or transfer to certain accounts.
(I) All-channel control
Targeted income/expense enables customers to effectively control the collection/disbursement of transactions made at the counter, via Internet Banking, Bank-Enterprise Interlink and SWIFT, highly secure, wide control.
(II) Automatic control
Completely controlled by ICBC system automatically, no manual intervention, higher efficiency, less cost.
(III) Wide applicability
Applicable to all current settlement accounts, including FX accounts.
Manage income/expense in parallel, applicable to group accounts of headquarters-subsidiaries, headquarters-branches, or customers who need to monitor the income and expense in the income/expense accounts opened in other cities.
Customer can also set accordingly if there are specific purposes or income/expense for the amount in the account.
Note: Information herein is for reference only. Refer to the announcements and regulations of local outlets for further details. ICBC reserves the final right of interpretation.
Account Payment Limit Control
If there is a need to control the limit for the bank deposit available for payment, ICBC offers services for customers to control the account's payment limit, including three main services: control on the ceiling limit for one payment, control on the daily payment limit, control on the cumulative payment limit within the cycle.
(I) Support multi-period control
Support control on the ceiling limit for one payment, support control on the limit for all payments in a day, support control on the cumulative limit weekly, every 10 days, monthly, quarterly, every six months or annually, support control on the cumulative payment limit by fixed cycle (eg: every 15 days). Customers can set flexibly based on own actual requirement.
(II) Support different types of payment
Types of payments can be under control are: electronic transfer, cash withdrawal and batch collection.
(III) All-channel control
Account payment limit control enables customers to effectively control payment made at the counter, via Electronic Banking and SWIFT, highly secure, wide control.
Note: Information herein is for reference only. Refer to the announcements and regulations of local outlets for further details. ICBC reserves the final right of interpretation.
Account Enquiry
ICBC and customers sign global cash management service agreement. The agreement states that comprehensive account enquiry services will be provided by ICBC for customers to know the latest balance and details of the accounts opened in ICBC and partner banks.
(I) Support interbank enquiry
Support customers to look up the incoming/outgoing transactions in the accounts held in partner banks via ICBC services.
(II) Support enquiry via different channels
Support customers to check at ICBC counter, via Internet Banking or Bank-Enterprise Interlink.
(III) Enquiry on all types of details
Support customers to look up the balance in the accounts opened in ICBC (including settlement account, fixed deposit account, loan account) and the settlement accounts opened in partner banks. Support customers to look up the details of the accounts opened in ICBC (including settlement account, fixed deposit account) and the settlement accounts opened in partner banks.
Note: Information herein is for reference only. Refer to the announcements and regulations of local outlets for further details. ICBC reserves the final right of interpretation.
Debit/Credit Notification
ICBC and customers sign global cash management service agreement. The agreement states that real-time changes of the balance in the settlement accounts opened in ICBC will be supplied by ICBC. Currently, ICBC sends SWIFT MT900/910 message to supply the details, or electronic debit/credit notification in MT900/910 format via the Bank-Enterprise Interlink set up with the customers.
Note: Information herein is for reference only. Refer to the announcements and regulations of local outlets for further details. ICBC reserves the final right of interpretation.
Consolidated Account Report
ICBC and customers sign global cash management service agreement. The agreement states that based on chosen cycle, ICBC provides details to customers on the amount, balance in the accounts (deposit, loan, bond, fund, corporate wealth management, gold) opened in ICBC and accounts (deposit, loan) opened in direct-link partner banks, in clear format via fast and convenient channel.
(I) Different types of periods
Choose different reporting cycles as required, can be daily, weekly, monthly, quarterly, every six months or yearly.
(II) Clear format
Details (A/C No., A/C name, A/C opening bank, currency, balance, number of transactions, amount) are listed in clear format.
(III) Easy to get
Reports are automatically generated and sent by ICBC. Customers can get the reports via Internet Banking, Bank-Enterprise Interlink, or at the counter.
Note: Information herein is for reference only. Refer to the announcements and regulations of local outlets for further details. ICBC reserves the final right of interpretation.
Account Reporting
ICBC and customers sign global cash management service agreement. The agreement states that electronic statement (in MT940 format) will be provided by ICBC to customers.
(I) Support account of other banks
Besides ICBC accounts, electronic statements (in MT940 format) on the accounts held in partner banks are available for customers via ICBC.
(II) Send via electronic channel
Electronic statements (in MT940 format) are available for customers via Internet Banking and Bank-Enterprise Interlink.
Note: Information herein is for reference only. Refer to the announcements and regulations of local outlets for further details. ICBC reserves the final right of interpretation.
Information Support Service
This is an ICBC service of supplying market news, financial laws and regulations and regulatory policies of the country/region specified, as required by the customer. Information includes taxation, capital flow, foreign exchange, anti-money laundering, credit, payment and settlement, clearing, cash management, investment and wealth management. The service helps customers achieve flexible, feasible, highly efficient management of global liquidity and capital based on the understanding and subject to the local regulatory requirements.
Note: Information herein is for reference only. Refer to the announcements and regulations of local outlets for further details. ICBC reserves the final right of interpretation.
Customers who wish to apply for our Internet Banking Service can approach any of our branches for registration.