Current Deposit
There are two types of accounts for current deposits: current account and deposit account.
Ⅰ.Current Account
A current account holder may deposit and withdraw funds freely and the rate is calculated based on current deposit. It is convenient in terms of balance of payments and trade settlements.
1. Target Clients:
1) Enterprises with foreign investment
2) Foreigners and citizens of Hong Kong , Macao an Taiwan
3) Foreign companies
4) Enterprises registered in a bonded zone
5) Others
2. Documents Required for Account Opening:
For enterprises with foreign investment:
1)Copy of Business license
2)Certificate of FTEC's approval
3)Organization code certificate
4)Copy of Articles of association
5)Copy of legal representative's ID card
6)Account opening approval document issued by SAFE
7)Foreign Exchange Registration Certificate
For enterprises in bonded zone:
1)Copy of Business license
2)Organization code certificate
3)Approval document for conducting foreign affairs
4)Copy of Articles of Association
5)Copy of legal representative's ID card
6)Account opening approval document issued by SAFE
7)Foreign Exchange Registration Certificate
For foreign companies (see “Offshore Account”)
For foreigners:
Copy of permanent resident ID card; such as home-visit permit for citizens of Hong Kang , Macao and Taiwan , identity certificate issued by embassy or consulate in China , or identity certificate issued by law firm
3. Interest Rate & Tax Rate
According to the relevant regulation, the rate of withholding tax for foreign companies is 10%; and that for individuals 5%. The interest and tax is calculated based on the daily account balance and identified in the account at the end of each month.
Ⅱ.Savings Account

Currently, BIN opens savings account for all individuals. The documents required for opening a savings account are the sane as those required for opening a current account. Each funds movement of your savings account will be indicated on your passbook. Savings account holders should bring along the passbook for saving or drawing money.
The interest and tax calculation is the same as that of a current account.