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Premium Savings Account (CAD)


 

Product Name

Premium Savings Account

Product Description

Premium savings account is a high rewarding flexible account for regular cash transactions, consumptions, and transfer. However, personal cheques cannot be issued.

Currency

CAD

Feature

1. Interest is calculated based on the daily balance and paid at the end of each month;

2. Unlimited debit transactions;

3. Monthly maintenance fee will be waived if  daily closing balance of $5, 000.00 or more is maintained on this account.

Target Customers

Any customers with spare high value capital; do not need to issue cheques; more debit transactions needed in daily banking operations.

Process

The customer goes through relevant procedures at any branches of Bank of China (Canada) with relevant identity documents.

Required Identity Documents

1. Two pieces of valid IDs are required to open an account; one must be a photo ID (e.g. passport, permanent residence card, citizenship card, or valid Canadian driver’s license and etc.);

2. According to the Canadian regulation, all Canadian residents must provide SIN to open any interest bearing account for tax purpose.

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