Renminbi Account

¹ Source:

² Past performance of a currency is not necessarily an indication of its future performance

³ Source: HSBC, China's Big Bang November 2012

Notes:
¹No Cheque Book with RMB Current Account
²Not applicable to Premier and Advance customers who maintain a relationship balance with HSBC
³Transfer fees are waived for HSBC Premier and Advance customers when done through Global Transfers. Customers may only transfer funds to offshore CNY accounts outside China. Global Transfers will not facilitate CNY transfers to China even via Hong Kong or Taiwan, even though it is possible to do so through conventional remittance services
•The renminbi is the official currency of the People’s Republic of China. There are two markets for renminbi which are called “onshore” and “offshore”. The onshore currency can be remitted into mainland China and Macau whilst the offshore currency is held offshore and must not be remitted in to mainland China and Macau. Offshore currency can be remitted to other markets such as Hong Kong
•Your renminbi currency current account, savings account and renminbi fixed term deposit account will be held in the ‘offshore currency CNY’
•A renminbi Term Deposit Account must be opened with a renminbi Current and/or Savings Account under the same name. All renminbi Term Deposits or withdrawal transactions must be made through the corresponding renminbi Current and/or Savings Account
•HSBC UAE branches and ATMs will not handle physical renminbi currency notes
•Prevailing HSBC interest rates and foreign exchange rates will be applicable at the time of deposit booking and/or money transfers
•Standard HSBC Schedule of Tariffs and Fees are applicable and available on www.hsbc.ae
•Currency conversion risk - the value of your RMB deposit will be subject to the risk of exchange rate fluctuation. If you choose to convert your RMB deposit to other currencies at an exchange rate that is less favourable than the exchange rate in which you made your original conversion to RMB, you may suffer loss in principle
•Additional HSBC Personal Banking Terms and Conditions will also be applicable
•To avoid doubt, HSBC Bank Middle East Limited is the legal entity holding your deposits

For Personal Banking Terms and Conditions click here.

For our Schedule of Tariffs and Charges click here

"Renminbi (“RMB”) is currently not freely convertible and is subject to certain restrictions. The amount of offshore RMB (deliverable outside Mainland China, informally known as “CNH”) may be limited, which may affect the liquidity of offshore RMB products. The market for offshore RMB is a different market to that of onshore RMB (deliverable in Mainland China, known as “CNY”). The Offshore RMB market may become illiquid, or offshore RMB may become inconvertible or non-transferable.