To further simplify the supporting documents requirement under cross-border payment and improve the operating efficiency for the corporate, OCBC China has closely cooperated with “Single Window” under Shenzhen Custom, offered “Single Window” cross-border payment product to our customers. Customer can log-in “Single Window” platform and select the electronic declaration forms through customs across china for imports related to the payment and then push to our bank for cross border TT without providing paper documents. This paperless process greatly improves business efficiency to the customer.

Virtual account is an account services provided by OCBC China to corporate customers, who have a large number of settlement counterparties, to improve the reconciliation efficiency of the receipt and payment management. According to your payment and reconciliation needs, you can configure a virtual sub-account for the designated account. Customer can handle the virtual account management and reconciliation by multiple channels, including internet banking, H2H etc.

Feature

• Assign unique virtual account number to each payer and eliminate unreconciled receipts.

• Download transaction history reports from OCBC Velocity and upload into your ERP. 

• Support straight-through reconciliation via Host-to-Host and MT940 for efficient account management.