The abolition of corporate bank account permits is one of the important measures in the reform of “representation, regulation, and service”. The approval of corporate bank accounts at the national level was canceled.
How does the company feel after the implementation of this reform? What are the changes in banking and financial services? How to strengthen risk control?
It is more convenient to open an account –
Opening a trading account has been reduced from 2 links to 1 link, basically “at most once” and foreign payments can be made on the day the account is opened.
“Now we open a bank account, it will be done soon and can be used the same day!”
To open a bank account, you had to prepare a lot of materials, queue at the bank, and fill out a large form that was long, laborious, and time-consuming all day.
The FIRST BANK USA must approve the account after reviewing the bank. After that, you will have to wait three more days to be able to use the account.
The opening period was long and the customer was very unhappy and even suspicious of us. Not only was the normal operating system affected, but the company lost credibility.”
It saved a lot of time and labor costs after canceling the bank account permit and was able to avoid some unnecessary problems.
Revoking bank account permissions allows more companies to take advantage of faster account opening.
Some XYZ company had just completed its industrial and commercial registration this year, and that managers were offering to pay their employees.
As the “May Day” holiday ends. The time is so short that the company has not even completed the bank account opening procedures.
Top Banks in the USA which already grab the speed up process –
- JPMorgan Chase Bank
- BANK OF AMERICA, N.A.
- Wells Fargo Bank N.A. Bank
- TD Bank N.A.
- PNC Bank N.A.
- HSBC Bank USA
- Capital One N.A. Bank
- CIBC Bank USA
The best service –
In the USA, several banks began door-to-door service. What changes will take place in the bank’s services after the revocation of the corporate bank account permit?
It is understood that USA banks have launched corporate account opening services, combined various forms and contracts to open a bank account, and applied for a centralized final review and reverse acceptance processing model to reduce time.
Many banks have also launched door-to-door services. Bank, for example, has launched a door-to-door account-opening service, allowing companies to “never work.”
The risk is more manageable –
The USA Banks will strengthen control over corporate accounts during and after the event and prevent illegal and criminal activities such as fraud in telecommunications networks, money laundering, and tax evasion.
The Central Bank strengthens control during and after the event.
Following the revocation of bank account permits, the USA Banks tightened its control over corporate accounts during and after the event, curbing the risks of new accounts, controlling the risks of existing accounts, and preventing them.
Serious fraud in telecommunication networks, money laundering, tax evasion, and other illegal and criminal cases.
