Open a CNY Account - Chinese Yuan

To open an account, it’s very simple.

1. Send us your request to open a CNY account via the form on the left or through the account opening form. We will contact you to schedule a phone call to fully understand your needs regarding CNY flows.
2. Following this exchange, we assist you with the administrative formalities to open access to the services of one of our partners, selected based on your needs. We remain your sole point of contact for the entire client relationship.
3. Once access to the services is validated, you can request the opening of your Chinese Yuan account and any other eligible currency. The banking details of your CNY account are generally provided within a few minutes, and you can start receiving and making payments in CNY (Chinese Yuan).
4. If your business evolves and you have needs in other currencies, you can request at any time to add an account in another currency.

The Chinese Yuan (CNY) account for which we provide you with the details is not a bank account per se because the account-holding institution is not a bank but a partner payment institution. These accounts are labeled in your name, and the IBAN linked to the account is unique. You thus have a guarantee of segregation of your funds in the books of our partners. The security guarantees for your funds are similar to those offered by traditional banks. The account can be located in different countries according to your operational needs. Please consult the page related to opening a Chinese Yuan (CNY) account for more information.

It may be useful for your CNY (Chinese Yuan) account to be located in France or, conversely, in another country, depending on your operational needs and the location of your clients. This is why we allow great flexibility in the location of currency accounts. The CNY (Chinese Yuan) account can be located in the following countries:

• France
• Hong Kong
• United Kingdom
• Belgium
• Netherlands
• Luxembourg

You can consult the updated table of possible locations for CNY (Chinese Yuan) accounts here: account locations

You can use this Chinese Yuan account to receive or store CNY for as long as you wish as long as your account is active. You are automatically notified by email each time a Chinese Yuan transfer is received on your CNY account. You can then freely reuse these CNY to make payments in CNY to your suppliers or convert your Chinese Yuan, benefiting from very competitive exchange rates. There is no obligation for movement on the accounts. 

Foreign currency payment collection systems like Adyen, Stripe, Paypal, Hipay, or internal systems of marketplaces like Amazon Pay are widely used by companies conducting international transactions. These systems are efficient, but if you do not have an account in the collected foreign currency, your revenues in that currency are automatically converted into euros at often very unfavorable exchange rates, and even when you have a bank account in the collected currency, this account often needs to be located in the country where the sale takes place, which can be complicated with a traditional bank. Some of our partners offer currency accounts compatible with most marketplaces and collection systems.

You can find all the eligible currencies for opening a currency account by visiting this page.

It is not possible to deposit checks or cash into your CNY (Chinese Yuan) account. Only bank transfers are accepted for transactions on the account. No bank card can be linked to the account at the moment.

Account statements listing all operations in Chinese Yuan are downloadable at any time from the online interface. These statements include maximum information on beneficiaries, the origin of funds, related exchange operations, to facilitate the work of your accounting department.

All account statements can be automatically integrated into your treasury software or ERP through MT940 files. You thus find all CNY (Chinese Yuan) movements in your software, and you do not even need to connect to our online interface to obtain the up-to-date balance of your CNY (Chinese Yuan) account. Our technical teams can also automate the processing of currency payment files provided by your TMS / ERP.