Guide on Chinabank Special US Dollar Time Deposit Account Features & Application Requirements
CHINABANK SPECIAL US DOLLAR TIME DEPOSIT ACCOUNT – Here are the features of this time deposit account offer of China Bank and requirements.
Are you looking for a bank where you can open a time deposit account for US Dollar currency? Chinabank is one of the entities with the said offer and you can check the details in figures below.
Chinabank Special US Dollar Time Deposit Account
- Minimum Placement US Dollar – 50,000 USD
- Interest Rate – the interest rate depends on the prevailing interest rates implemented by the branch where you opened the account
- Withholding Tax – 15%
Requirements for Application
If you are applying as an individual:
- duly-accomplished and signed Chinabank Special US Dollar Time Deposit Account
- two (2) 1×1 ID photos
- original and clear copy of at least one (1) valid IDs. You can choose from the following:
- Postal ID
- Passport
- Barangay Certification
- National Bureau of Investigation (NBI) Clearance
- Driver’s License
- Professional Regulations Commission (PRC) ID
- Police Clearance
- Government Service and Insurance System (GSIS) e-Card
- Voter’s ID
- Senior Citizen Card
- Barangay Certification
- Social Security System (SSS) Card
- Seaman’s Book
- Integrated Bar of the Philippines ID
- Overseas Filipino Worker (OFW) ID
- Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
- School ID
- Department of Social Welfare and Development (DSWD) Certification
If you are applying for a Business / Sole Proprietorship:
- duly-accomplished and signed Chinabank Special US Dollar Time Deposit Account
- Application for Registration with DTI
- Certificate of Tax Exemption / Preferential Tax Treatment
- Certificate of Registration of Business Name with DTI
- Special Power of Authority (SPA) if the signatory is other than the owner of the business
If you are applying for Partnership Accounts:
- duly-accomplished and signed Chinabank Special US Dollar Time Deposit Account
- Articles of Co-Partnership
- Certificate of Registration by the Securities Exchange Commission (SEC)
- Partnership Resolution or Agreement duly notarized, designating the following:
- China Bank as its depository bank
- Authorized signatories
- Certificate of Tax Exemption / Preferential Tax Treatment
To apply for the remittance account, go to a Chinabank branch and submit the aforementioned documents needed based on your application type. All applications for a savings account is subject to the approval of the bank.
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