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Dear Customer,
ICBC (Europe) S.A. Amsterdam Branch (hereinafter: ICBC Amsterdam) is proudly to inform you on our new service: the ICBC Mobile App. Customers who already have access to ICBC Amsterdam Internet Banking will automatically have access to the ICBC Amsterdam Mobile App. For more detailed information on the ICBC Amsterdam Mobile App, you can visit our webpage: www.icbc.co.nl and particular our webpage Internet Banking and Mobile App.
ICBC Amsterdam Branch would also like to initiate a prosperous start of the Chinese New Year and therefore we are pleased to inform you about our Spring Festival Promotion for our new and current retail customers. The promotion period will be from 15th of January 2015 until and including 28th of February 2015.
Account opening
New retail customers will receive a VVV gift card of EUR 20,-, when making a minimum deposit of EUR 500,- (or equivalent CNY/USD ) during the promotion period.
| Account opening |
VVV gift card |
| Open a Multi Currency Account and transfer a minimum amount of EUR 500,- (or equivalent CNY/USD) to the newly opened account. |
EUR 20,00 |
Fixed-term Deposit
Customers, current and new, who place a new time deposit, will receive the VVV gift card as specified in the table below. This time deposit promotion is a regular fixed-term Time Deposit. The starting date of the new time deposit can be any date within the promotion period.
| Fixed-term Deposit (or equivalent CNY/USD) |
VVV gift card |
| EUR 30.000,00 - EUR 49.999,99 |
EUR 30,00 |
| EUR 50.000,00 - EUR 99.999,99 |
EUR 50,00 |
| EUR 100.000,00 and above |
EUR 100,00 |
Requirements:
1.Newly opened account
-From 9th of March 2015 until 31st of March, you will receive the VVV gift card for the newly opened account through registered mail (aangetekende post), please confirm your registered address with ICBC Amsterdam.
-New customers will only receive the 20 EURO VVV gift card, if they are not known at ICBC Amsterdam or do not have an account with ICBC Amsterdam prior to 15th of January 2015;
-In order to qualify for the VVV gift card, the required balance of the account must be at least 500 EURO (or equivalent ) on 28th of February 2015;
-Customers who have opened the account and/or time deposit outside the promotion period are not eligible to the VVV gift card;
-If you do not have the principal amount available on your ICBC Amsterdam Payment Account in the desired currency, please make sure that the principal amount is available on your ICBC Payment Account on 28th of February 2015 the latest! After this date you are not entitled to participate in this account opening and/or time deposit promotion. We rely on the remitting bank for incoming transactions and therefore cannot be held responsible for any delay in receiving funds.
2.Newly opened time deposit
-The VVV gift card will be based on the total EUR (or equivalent) amount of the time deposit;
-The calculation on 28th of February 2015 of the time deposit is based on the USD or RMB/CNY mid-rate of ICBC Amsterdam on 15th January 2015;
-From 9th of March 2015 until 31st of March, you will receive the VVV gift card for the newly opened time deposit through registered mail (aangetekende post), please confirm your registered address with ICBC Amsterdam.;
-You will receive the accrued interest at the maturity date of your time deposit as normal;
-Fixed- term interest rate;
-Interest calculation is based on “Actual days/360days” basis;
-Principal and interest will be available at the maturity date. It is not possible to withdraw your time deposit prior to maturity. For this reason, please well consider which parts of your funds needed for your daily expenditures and how much funds possibly needed for (un)expected expenses before placing a time deposit;
-Customers who have opened the account and/or time deposit outside the promotion period are not eligible to the gift card;
-If you do not have the principal amount available on your ICBC Amsterdam payment account in the desired currency, please make sure that the principal amount is available on your ICBC Payment Account on 28th of February 2015 the latest! After this date you are not entitled to participate in this account opening and/or time deposit promotion! We rely on the remitting bank for incoming transactions and therefore cannot be held responsible for any delay in receiving funds.
Terms and Conditions and Deposit Guarantee Scheme
-Terms and Conditions Retail Customers and especially Time Deposit Conditions Retail Customers are applicable (www.icbc.co.nl).
-Luxembourg Deposit Guarantee Scheme is applicable (www.agdl.lu). The funds of a retail customer are currently guaranteed up to a maximum of EUR 100.000 (or equivalent RMB/CNY) per account holder.
Risk(s)
Foreign currency risk and possible liquidity risk and additional costs resulting from the conversion to and backwards from foreign currency are applicable when saving in foreign currency. The costs and currency rate fluctuations as a result of these risks can diminish your accrued interest and may even lead to a loss on your originally deposited amount in EURO. Savings in foreign currency is therefore only appropriate for you if you have sufficient knowledge of foreign currency and liquidity risk.
For a detailed explanation of the costs and risks mentioned, information regarding the RMB/CNY and doing foreign currency exchange transactions, please refer to our website www.icbc.co.nl and more specifically to the webpage “Saving & Deposits" and “Personal FX" and the applicable “Terms and Conditions Retail Customers”, in particular, the chapter “Foreign Currency Exchange Spot Transaction Conditions”.
ICBC Amsterdam does not offer investment advice concerning saving in foreign currency, does not analyze your financial position and does not verify your experience with foreign exchange to determine whether transactions in foreign currencies are suitable or appropriate for your situation and we do not contact you if market conditions change. Foreign currency taken and held by you are for the benefit and risk of you. We therefore accept no liability for any (foreign currency) losses.
How to apply?
ICBC Mobile App
If you do not have access to Internet Banking, you need to come to our counter with a valid ID to apply for it. For more information on how to apply for Internet Banking, you can visit our website www.icbc.co.nl.
Time deposit
The time deposit promotion can be applied through Internet Banking or by sending our general time deposit application form by e-mail, post or fax.
New Account
Account application can be done by:
1.On distance with the Online Saving Package. For more information on the Online Saving Package, you can visit our website www.icbc.co.nl;
2.Sending the account application form with the required documents by e-mail, post or fax. For more information on the account application procedure, you can visit our website www.icbc.co.nl.
Interest Rates
| Nominal Interest Rates Per 20/10/2014 |
Saving Account |
Time Deposit |
| Months |
Years |
| 3 |
6 |
12 |
2 |
3 |
4 |
5 |
| EUR |
1,60% |
1,60% |
1,65% |
1,80% |
1,95% |
2,10% |
2,20% |
2,30% |
| USD(=<20.000) |
0,50% |
NA |
0,80% |
1,00% |
NA |
| USD(>20.000) |
0,70% |
NA |
| RMB(=<100.000) |
1,10% |
NA |
2,00% |
2,40% |
2,50% |
2,60% |
2,70% |
2,90% |
| RMB(>100.000) |
1,30% |
In case of an interpretation difference between the customer and ICBC Amsterdam regarding the Spring Festival Promotion conditions, the interpretation of ICBC Amsterdam shall prevail.
In case of any inconsistency or discrepancy among the Dutch, Chinese and English version of this, the English version shall prevail.
*you can unsubscribe to these mailings by sending a request by e-mail to banking@nl.icbc.com.cn
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