How Do I Choose the Best Corporate Bank Account?

The unit bank settlement account opened by depositors has an effective date system, that is, within three working days from the day when the unit bank settlement account is officially opened, except for fund transfer and cash deposit, payment transactions cannot be processed. Payment can be processed after working days.

Corporate bank account

Correct

Corporate bank accounts are corporate accounts.

Every accountant, especially the cashier, must have a clear idea of the company's bank account. When you know the company's account, you should also know the rules for using corporate bank accounts:

(1)

At the regular briefing of the State Council's policies held on January 9, 2019, Fan Yifei, deputy governor of the People's Bank of China, said that corporate bank account licenses will be fully cancelled in 2019, and will be promoted to Jiangsu and Zhejiang at the beginning of the year. Work preparations are implemented in batches. ^[1]

Starting from January 25, 2019, Jiangsu Province and Zhejiang Province will completely cancel the corporate bank account license, and domestically established enterprises that handle basic deposit accounts and temporary deposit account businesses in banks in Jiangsu Province and Zhejiang Province will change from approval to filing System, the People s Bank of China no longer issues an account opening permit, and the account opening permit is no longer used as a document or basis for an enterprise to handle other affairs. ^[4]

On July 19, 2019, the People's Bank of China announced that it will fully cancel corporate bank account permissions nationwide starting July 22. ^[3]