Renminbi Account Services

• Agreement to settle in RMB may help you to get more China related business as your trade partner may prefer to settle trade in RMB
• Manage your RMB foreign exchange risk in a single account
• Holding RMB in your account for future trade settlements to provide natural hedge

• Settling trade in RMB reduces the foreign exchange risk and therefore reducing the ancillary cost of foreign exchange conversion and related hedging instruments.
• Provide natural hedge for both the imports and exports settled in RMB.

• For the purpose of facilitating eligible trade transactions between you and your eligible trade partner.
• Low initial deposit and minimum balance requirement for UOB RMB Account.

Note: For Foreign Incorporated Companies, Account Setup Fee of minimum S$500 applies.

• Issue Letters of Credit - Settlement will only be carried out after receipt of compliant documents
• Advise Letters of Credit
• Negotiate Letters of Credit
• Transferable Letters of Credit
• Export Documentary Collections
• Import Documentary Collections
• Banker’s Guarantee
• Provide customers with FX rates for settlement of trade transactions

• Send and receive trade related payments (MT103) in RMB
• Provide customers with FX rates for settlement of trade related payments

• Competitive buying and selling rates for RMB (value spot)
• No forwards