Bank Draft

Definition
«First Sino Bank» issues bank draft on behalf of other banks.
Applicable Clients
Foreign banks in China or domestic banks unable to issue bank draft for customers, either not licensed to issue, too few outlets or restricted by rules on the drawing or transfer of funds.
Service Flow
1.Apply to «First Sino Bank»;
2.«First Sino Bank» screens through the application and submits for approval;
3.Once approved, discuss details between two parties;
4.Sign agreement to state out the rights and obligations, risks and fees of both parties;
5.Start agreement execution, applicant bank opens Reserve A/C in «First Sino Bank»;
6.«First Sino Bank» staff issues bank draft on behalf in accordance with the agreement.
Price
A fee of minimum RMB 30 is collected for each draft issued. Fee schedule and options left open for discussion between two parties.