Dear customer:
The following important items are hereby promulgated in accordance with requirements stipulated in "Circular of the People's Bank of China on Strengthening Management of Payment and Settlement Operations for the Prevention of New Types of Telecommunications Network-based Crimes" issued by the People's Bank of China (Yin Fa [2016] No. 261, hereinafter referred to as the Circular), to practically protect your account funds and legitimate rights and interests and to effectively prevent new types of telecommunications network-based crimes:
I. In accordance with provisions specified by PBOC, personal settlement accounts are divided into three categories, i.e. Class I bank account, Class II bank account, and Class III bank account.
A Class I bank account is a full-function bank account with no limitation on uses. It can be used to make deposits, transfers, payments, purchases of wealth management products, etc. When a financial institution in the banking sector opens a bank settlement account for an individual, the same person can only open one Class I account with the same bank (based on legal person, the same below).
A Class II bank is only for RMB businesses, and can be used to make deposits/withdrawals (physical debit card only) within certain limits, transfers (the electronic account does not support funds transfer from/to unbound accounts temporarily), and payments. The purchase of wealth management products is not subject to limits.
A Class III bank account can only be used to make low-amount payments, which should be bound with a Class I bank account. A physical card is not allowed to be applied for the account since it is only an electronic virtual account.
II. A natural person customer of the Bank will not be charged inter-city handling fee when he/she handles intra-bank inter-city deposit/withdrawal or transfer with the Bank starting from December 1, 2016.
This is the end of the Notice!
Metropolitan Bank(China) Ltd
November 30, 2016
Online Banking
