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☆ Introduction
Petty Account refers to the one with average daily balance less than RMB 300 (excluding RMB 300)(Each branch is allowed to set up its own standard in line with the local situation. Please refer to respective standards of the local branches for details). Its specific calculation method is to add up the daily deposit balance in an account in a quarter, and the added sum will be divided by the total number of deposit days (the total days in a quarter will be calculated as 90 days) to thereby get the average.
Long-term unused or inactive petty accounts not only waste resources, but also increase banks' operating costs and service efficiency. We suggest our customers integrate or cancel unused or less frequently used RMB petty accounts through our counter service, Internet banking, telephone banking and other channels.
☆ Features and advantages
Your proactive combinations or cancellations of hardly used or never used RMB Petty Accounts will benefit you from at least two aspects. One is to save the trouble of keeping multiple passbooks and bank cards. And the second is to activate the balances on the hardly touched accounts to integrate multiple small amount of funds into a considerable amount of funds to effectively boost the utilization efficiency of the funds. For ICBC, if you combine the long term never used or hardly used accounts, you can save plenty of computer systems resources, directly reduce maintenance, improve computer operation efficiency, and increase service efficiency and proficiency.
ICBC takes full considerations to serve customers, and convenience customers requirements. It boosts its operation efficiency in terms of service procedure and process to provide customers with multiple channels to combine Petty Accounts in order to efficiently and reasonably manage bank accounts, and combine long-term idle small amount funds to enhance ICBC computer systems efficiency to offer customers better services.
☆ Service channel
Banking outlets, Personal Internet Banking, the passbook version of Personal Internet Banking, and Telephone Banking.
☆ Helpful Tips
1. If you lose the passwords of your Petty Accounts, please apply for repost of loss promptly. Please bring valid ID, including residential ID, password, resident registration booklet, military office ID, police office ID, soldier ID, hometown-return certificate, and temporary ID.
2. ICBC offers 11 types of accounts that need no combination or cancellation, please carefully verify the use of every single account to assure the accounts to be combined or cancelled are beyond these 11 types of listed account below.
(1)The current accounts in Elite Club Account;
(2)Peony Commuter Card accounts;
(3)The deposit accounts used to repay personal loans;
(4)Multiple currency comprehensive account with foreign currency accounts with remaining balances on it (RMB and foreign currency All-in-one Account, Peony International Debit Cards, and Foreign Exchange Trading accounts, etc);
(5)Debit and Credit Combo Card, Peony Credit Card, and Peony International Credit Card account;
(6)Agent low-income insurance deposit accounts;
(7)Agent social security deposit account (Pension accounts and pension insurance, unemployment insurance, medical insurance accounts );
(8)Accounts used to buy open-end funds and RMB investment products, Book-entry T-bond Accounts, Bank-Insurance Link accounts, and Bank-Securities Link accounts and Bank- Securities transfer accounts;
(9)Agent salary accounts and mass utility collection accounts;
(10)Housing funds accounts;
(11)Personal Internet banking e-card accounts. These accounts are also the ones from which temporarily no service fees will be collected in the future.
3. Please carefully verify the balance and transaction details before applying for Petty Account cancellation. ICBC will not supply the information inquiry service for the accounts cancelled.
4. Petty Account cancellation services take effective immediately and corresponding passbooks/bank cards will be immediately void. And customers can't use these passbooks/bank cards to conduct any transactions. You need to destroy remained passbooks/bank cards, or the customers will take full resulting responsibilities.
5. Customers can't use e-banking channels to cancel Debit and Credit Combo Card, Peony Credit Cards, Peony International Cards, Consumer Credit Repayment accounts, Bank-Securities Link accounts and Bank- Securities transfer accounts, fund accounts, Peony Commuter Card accounts, Elite Club Accounts, Internet banking e cards, and other RMB accounts that opened at ICBC.
6. To use e-banking channels to conduct Petty Account cancellations, customers can designate RMB current accounts, Elite Club accounts, Money Link Cards, Debit and Credit Combo Card, Credit Cards International Bank cards, and other accounts opened at intra-city ICBC banking outlets or at the banking outlets in different cities as the accounts to transfer balances in. If the accounts to transfer balances in are opened at different cities, ICBC will collect corresponding fees based on the personal non-local remittance standard.
7. Internet Banking operation tips
(1)Customers can apply for Petty Account cancellations with the deposit passbook version of Personal Internet banking without processing any procedure.
(2)Register Personal Internet Banking, customers can use certificate version of Personal Internet Banking to conduct Petty Account cancellations immediately.
(3)To use Petty Account cancellation function from Internet Banking, ICBC takes customers' bank cards' numbers(passbook account number), passwords, or customers' certificates as the identifiers to identify customers' valid status, and take electric transaction instructions that customers sent hereby as the legally valid basis to conduct Petty Account cancellations form Internet Banking.
(4)If the RMB deposit balance of your account exceeds RMB 300 limitation amount set by ICBC; you can transfer extra funds into other accounts through Internet Banking transfer remittance first, and then cancel the account.
(5)If there are other current accounts, bank cards, or fixed accounts under your Petty Account; you can't use Internet Banking account cancellation function to cancel the account. You can first use Internet Banking to delete the bank cards under the account to be cancelled; and use account function to delete the accounts under it, and then cancel the account.
8. Telephone Banking operation tips
(1)To use Petty Account cancellation function in Telephone Banking, customers need to register at ICBC banking outlets or use telephone to register on their own to become ICBC Telephone Banking customers first.
(2)If there are some accounts under your register account, you can't use Telephone Banking to conduct registered account cancellations, and you need to go to ICBC banking outlets to apply for cancellations, instead.
(3)If your account balance is more than RMB 300 limitation amount; you can't use Telephone Banking to conduct account cancellations, and you need to go to ICBC banking outlets to apply for cancellations, instead.
9. Each branch is allowed to define how to collect fee from petty accounts, the range of free accounts and the service hours for fee collection. For more information, please refer to the announcements of the local branches for details).
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