Collections

RMB Electronic and Paper Collection

Collect payments in RMB promptly

Receive funds securely and efficiently in RMB with DBS RMB Electronic and Paper Collection. Our different collection channels can give you quick access to your funds so you can concentrate on running your business. This service is suitable for those who have businesses in mainland China that receives or collects regular payments in RMB.

 

Why choose DBS RMB Electronic and Paper Collection?

  • Save time and lower your administrative costs as we have setup direct links with China National Advanced Payment System (CNAPS) which will allow payment collections between banks in China to become more efficient. We are also members with the local clearing system, managed by The People’s Bank of China (PBOC)
  • Expect fast and efficient payments made if your customers send funds from their DBS China accounts to yours
  • Receive email confirmations with IDEAL™ eReports. You may also get a detailed report on IDEALTM, our online banking platform

FAQs

Is DBS China part of China National Advanced Payment System (CNAPS)?

Yes, we have been a member of CNAPS since 2008 and can provide fast, secure and hassle-free collection in RMB for your business.

Can I receive payments in RMB from any beneficiary bank in China?

Yes, you can.

Do I need to have a DBS Business Account to receive payments in RMB?

Yes, you will need to have a business account with us in order to use this facility. If you do not have a business account with us, please call us at 4008208988 and we will arrange for a Relationship Manager to assist you. You may also visit our Business Account page for more information.

What are the different collection channels available for me to receive my payment funds?

You can receive the payment funds electronically through IDEAL™ Connect and via IDEAL™, our online banking platform. Alternatively, you can present your paper-based collection instructions over-the-counters at one of our DBS branches and bank the funds into your account. You will be informed of your collection instructions via IDEAL™ Connect and IDEAL™, or we can mail you a paper-based advice.

Awards
Best SME Bank of the Year, China 2015

Best SME Bank of the Year, China 2015

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