Bank Note

1. Product Definition

The bank note is a bill drawn by a bank that promises to pay on sight to the payee or the bearer the prescribed amount of money unconditionally. 

2. Product Features

All bank notes are registered with a long valid period, and the payment term lasts for 2 months. Featuring fast settlement and payment on sight, bank notes can be transferred by endorsement. 

A cash bank note can be applied if both the payer and payee are individuals, and it can be honored by an authorized agent with the drawing bank. All cash bank notes can be reported for loss. 

No threshold amount is restricted for the open bank notes. 

3. Application Procedures

Both entities and individuals opening deposit accounts with the Bank can use bank notes when in need of withdrawing various funds in the same exchanging area. If both the payer and payee are individuals, a cash bank note can be applied. After filling in the “Application for Bank Note”, the customer can submit the application to and go through relevant formalities with the Bank.