Dear valued customers,
For all customers with ICBC Unionpay dual-currency debit card are eligible to enjoy exclusive promotions in mainland China.
· Free balance inquiry at 100,000 ICBC ATMs in mainland China
· Free remittance to ICBC China via e-banking
· Free RMB deposit and withdrawal in Singapore
· No conversion fee for SGD/RMB
Reminder: Industrial and Commercial Bank of China Singapore Branch reserves the right to extend, modify or cancel this promotion at any time, without prior notice to you.
【Convenience and benefits】
- Free Balance Adjustment Service: When using RMB for settlement, if there are sufficient funds in the RMB sub-account, deductions will be made directly from the RMB sub-account; If there are insufficient funds in the RMB sub-account, you can sign up for Balance Adjustment whereby the Bank’s real-time exchange rate will be adopted to convert the SGD standing in your account to RMB before any deduction.
- No Annual Fee
- Enjoy 24-hour hotline service
- Enjoy ATM withdrawals and merchant convenience services at any ATMs and merchants displaying Unionpay logo
- Closely monitor your account transactions and make remittance transfers at any time via ICBC’s Internet banking and mobile banking services
- Experience more services at your convenience, such as signing up for Balance Adjustment, enquiring on account information, Forex trading, placement of time deposits, credit card services, precious metals trading, payment of bills, etc.
【Frequently Asked Questions and Answers】
1.What are the conditions and application procedures for ICBC dual-currency debit card?
18 years old and above,
Fill in the application form in person and submit it over the ICBC counter or scan below QR code to apply online( for registered Singapss user);
The minimum deposit amount is 500 Singapore dollars
Local Residents: please bring along your valid NRIC.
Foreigner: please bring along your passport, valid personal identification documentation(both must be at least 6 months of validity) and proof of address, such as utilities bill under account holder’s name, other bank’s statements, telephone bill, etc.
2. What is the relationship between Unionpay dual-currency debit card and VISA dual-currency debit card?
You can apply for both Unionpay Dual-Currency Debit Card and VISA Dual- Currency Debit Card for free when you open an account!
Unionpay dual-currency debit card and VISA dual-currency debit card share a multi-currency current account, the account can hold up to eight currency sub-accounts.
3. Why are there two cards? How do I use them?
In Singapore, both Unionpay debit cards and VISA debit cards can be used to settle payments in SGD. You can also make cash withdrawals at our ICBC ATMs.
The preferred card in China is the Unionpay dual currency debit card, which allows direct RMB settlement. If there are sufficient funds in the RMB sub-account, payment will be deducted directly from the RMB sub-account. If there are insufficient funds in the RMB sub-account, you can sign up for Balance Adjustment whereby the Bank’s real-time exchange rate will be adopted to convert the SGD standing in your account to RMB before any deduction.
The preferred card in the United States is the VISA dual currency debit card, which allows direct USD settlement. If there are sufficient funds in the USD sub-account, payment will be deducted directly from the USD sub-account. If the balance of the USD sub-account is insufficient, you can sign up for Balance Adjustment whereby the Bank’s real-time exchange rate will be adopted to convert the SGD standing in your account to USD before any deduction.
For countries other than China, the United States and Singapore, SGD can be used and is accepted for payment settlement.
4. Does the ICBC dual-currency debit card allow deposits to be made through ICBC ATMs within China?
No, the card can only be used for RMB cash withdrawals at ICBC ATMs within mainland China, it does not support the deposit function.
5. How do I sign up for the ICBC dual-currency debit card Balance Adjustment function?
You can sign up for Balance Adjustment over the counter or via internet banking.
6. What are the modes of withdrawal available to me in Singapore?
Withdrawals can be made through the counter or via our ICBC ATMs.
7. What do I need to take note of when using the cards outside Singapore?
Before you go abroad, you need to activate the debit card Overseas usage function, this function can be activated over the counter, done over service hotline at 6369 5588 or via mobile banking( All-Financial Assistant-Card Service-Overseas Transaction Lock ).
For more information, please call our hotline 6369 5588 or visit our Industrial and Commercial Bank of China Singapore Branch.
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