| Dear Sirs: According to the deployment of the country for building a conservation-minded society, to enable you to better manage and use your bank accounts and pool long unused small funds, and to effectively increase the operating efficiency of ICBC computer system so as to provide more efficient and expedient services for you, ICBC sincerely suggests you timely merge or cancel long unused and unwanted small RMB personal demand deposit accounts (including savings deposit book and debit card), especially for those accounts with a daily average balance of deposit less than 300 Yuan (the daily average balance of deposit means the sum of daily deposit balances of an account in a quarter divided by the number of deposit days). If you have this class of accounts to be merged or cancelled, please pay attention to the following matters: I. You can go to any business office of ICBC in the city where the account is opened to conduct the procedures of merging or canceling accounts with deposit book (or debit card) and password. If the account password gets forgotten, please carry your own valid identity certificates (namely identity card, passport, household registration book, military officer's certificate, police officer's certificate, soldier's certificate, home-visiting certificate, and temporary identity card); if the deposit book or debit card gets lost, please carry your own valid identity certificates and give the account name, deposit time, variety, amount, A/C No., address etc and conduct the loss-reporting and canceling procedures. II. For any RMB demand deposit account with a balance less than 300 Yuan, if you conduct the loss-reporting procedures before June 20, 2006, ICBC will charge no commission for loss-reporting. III. For the following 11 classes of accounts closely related to your life and work, you can continue using them without the necessity of merger or cancellation: (I) Demand account in an elite club account; (II) Peony traffic card account; (III) Deposit account used for redemption of personal loan; (IV) Multiple-currency comprehensive account with a balance in the foreign currency account (home & foreign currency all-in-one book, peony international debit card, foreign exchange trading account, etc); (V) Peony quasi credit card, peony credit card, or peony international credit card account; (VI) Agency minimum living standard security deposit account; (VII) Agency social security deposit account (pension fund account and pension insurance, unemployment insurance, or medical insurance account); (VIII) Account used for purchasing funds and RMB assets management products, registered T-bond account, bank-insurance link account, bank-securities link and bank-securities transfer account; (IX) Agency salary payment account, and account used for batch withholding of water charges, power charges, gas rates, and telephone fees etc; (X) Housing public accumulation fund account; (XI) Personal Internet banking e-card account. To avoid your canceling accounts by error, please carefully check the purpose of each account, and assure the account about to be merged or cancelled does not belong to the 11 classes of accounts above. IV. If you have any doubt on the contents above, please consult the business office of ICBC or call the customer service line 95588, or log onto ICBC website www.icbc.com.cn for consultation. Wholeheartedly thanks for your understanding and support; and ICBC will continue to make efforts to provide better services for you. Industrial and Commercial Bank of China October 18, 2005 Q&As on Merger of Small RMB Personal Demand Deposit Accounts |
