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Monthly Banking
and Cash Service

Monthly Banking is the provision of banking products and services through third-party distributors. Through integrating non-banking businesses with regulated financial infrastructure, you can save time by using our accountants to handle your banking, payroll, and other essentials.

Thank you very much for your interest in Hongda’s Monthly Banking and Cash Management Service! We are dedicated to providing comprehensive banking solutions for individuals and businesses, tailored to meet your financial needs. With our reliable and efficient service, you can save time, streamline your financial processes, and focus on what really matters - growing your business.

Taking care of your daily cash flow management is important. Our banking service is not just a regular cash payment, but rather a comprehensive reimbursement system for employees and routine office expenses. We also handles foreign currency settlement and exchange into RMB, record the monthly payment to the supplier, ensuring that there is a complete contract invoice, and send it to the responsible person for confirmation.

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OUR PROMISES

 

At Hongda, we pride ourselves on delivering exceptional service to our valued customers. When you choose our Monthly Banking and Cash Service, you can expect the following promises:

  1. You can know the balance of your account at any time, in case the balance is insufficient, we will remind you before the due date. Break through the local banking language barrier.
  2. Customization: We understand that every customer has unique requirements. Our service is fully customizable to align with your specific financial goals and objectives.
  3. When it comes to payroll, our NDA and the confidentiality of being a third party guarantee the stability of your workforce.
  4. Efficiency: Say goodbye to time-consuming administrative tasks. Our service streamlines your banking and cash processes, allowing you to focus on core business activities.

 

Why Cash Management is Important to Your Company?

 

Cash management refers to the process and system of collecting and managing cash flows, which can be of great importance for both individuals and companies. A well-designed corporate cash management system indicates the health of a company’s financial stability in business.

 

Cash is the primary asset that companies use to settle their debt obligations and pay for their operational expenses, such as taxes, employee salaries, marketing costs, etc. Taking care of the inflows and outflows of cash on a daily basis is the core component of financial management while proper cash management improves the company’s financial situation and liquidity problems. In addition, when considering creating and sustaining a company’s financial stability, well-managed cash flow helps to maximize potential earnings and impacts future growth.

 

Most of the time, cash management can be integrated with your company’s online banking. With fully integrated monthly banking, business administrators of your company gain access to funds every single day without facing the risk of a broken cash flow chain.

 

Why Do You Need Cash Management and Monthly Banking Service?

 

Managing the cash flow of your company needs a systemic solution while taking some of key factors into consideration:

  • Period of accounts receivable (AR) in average;

  • Accounts collection processes;

  • Write-offs for uncollected receivables;

  • Liquidity and rates of return (RoR) on cash equivalent investments;

  • Level of available operating cash;

  • …….

 

Designing a customized cash flow management procedure just for your own company by hiring an accountant and a specific professional in-house team can be expensive, putting extra pressure on your finance and human resources management system and costing your valuable time and energy dealing with banking and cash-related activities. That’s why Hongda’s cash management and monthly banking service can be your optimal choice!

 

  • Simplify cash management: Our service enables you to consolidate your cash management activities, including deposits, withdrawals, and transfers, all in one place.

  • Enhance financial control: Gain better control over your cash flow with our robust reporting and analytics tools. Get access to real-time information to make wise and data-based financial decisions.

  • Time-Savings: By outsourcing your banking and cash management to Hongda, you can free up your time to focus on core business functions, such as sales, customer service, and growth strategies.

  • Expert Support: Hongda's team of banking professionals is here to assist you with any inquiries or concerns you may have so that you can surely benefit from their expertise and industry knowledge.

 

What Are Included in Hongda's Monthly Banking and Cash Service Package

 

1. Arrange payment to local suppliers and office expenses, etc.

  • Arrange and process payments to local suppliers and office expenses for your company.
  • Ensure the accuracy and timeliness of the payment process to avoid delays or erroneous payments

 

2. Handle bank reconciliation.

  • Regularly compare your company's bank accounts with your financial records to ensure consistency.
  • Verify discrepancies between bank account balances, transaction records and financial statements to identify and correct potential errors or omissions.

 

3. Handle salary payment to local employees.

  • Ensure that local employees are paid on time and accurately.
  • Handle payroll calculations, tax deductions and social insurance to ensure compliance with local regulations and requirements.

 

4. Handle foreign currency operations in the bank.

  • Foreign exchange and settlement services for your company.
  • Handling foreign currency exchange, cross-border payments and foreign exchange risk management.
  • Provide advice on exchange rate fluctuations.

5. Cash management and forecasting.

  • Help your company effectively manage cash flow, forecast and plan for capital needs.
  • Analyze and monitor cash inflows and outflows to ensure the adequacy and proper use of funds.
  • Provide cash flow forecasts and recommendations to support your financial decisions and strategic planning.

6. Account opening and management.

  • Assist your company in opening and managing bank accounts.
  • Provide advice on different account types and options to meet your specific needs.
  • Manage transactions such as account information, authorization signatures and access rights.

7. Electronic banking services.

  • Introduce and recommend e-banking products and solutions suitable for your company.
  • Assist you in setting up and using online banking platforms, e-payment and e-banking systems, etc.
  • Provide training and support to ensure you take full advantage of the convenience and benefits of e-banking services.

8. Risk management and compliance support.

  • Provide advice and support on risk management and compliance requirements.
  • Assist in the development and implementation of internal controls to mitigate risks and prevent fraud.
  • Ensure that your company complies with local financial regulations and banking policies

OUR WORKING PROCESS

01.

Consultation

We start by understanding your unique banking and cash management needs. Our experts will work closely with you to tailor a solution that fits your requirements.

02.

Documentation

Once the consultation is complete, we will guide you through the necessary documentation and account setup process. Our team will make this step as seamless as possible.

03.

Implementation

After the account setup, we will integrate our Monthly Banking and Cash Service into your existing systems, ensuring a smooth transition and minimal disruption to your business operations.

04.

Support

To ensure you get the most out of our service, our dedicated support team is available to assist you whenever you need help.

 
 

LIST OF REQUIRED DOCUMENTS 

To enjoy Hongda’s outstanding Cash Management and Monthly Banking services, you will not be troubled by the complicated document preparation process. Only the following materials are needed to work with Hongda for a smooth transition:To initiate the process of availing our Monthly Banking and Cash Service, please provide the following documents:


1. Identification: Valid identification documents such as passports, national identity cards, or driver's licenses for all authorized signatories.

2. Proof of Address: Recent utility bills or bank statements (within the last three months) as proof of your residential or business address.

3. Business Documents: If you are applying as a business entity, please submit the necessary business registration documents, such as the Certificate of Incorporation or Business License.

4. Financial Statements: Depending on your business type, we may require your recent financial statements to assess your financial health and provide tailored recommendations.

Please note that additional documents may be requested during the consultation process, based on your specific requirements.

 

WHAT CLIENTS ARE SAYING

Sound United

Jack Peng
Sound United Vice President > Asia Pacific


Sound United la leading desianer and manufacturer of consumer audio products in the us) has been usina Honada Business Services since2013 Moving one's operations to China is not a small task, but Hongda's expertservices helped us set up a company and deal with tax issues so we could get on with qrowing our business inno time at a!l, and that's whywe continue to use them today.
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Business service Guid

Hongda Business Services helps foreign businesses looking to establish in the PRD (Pearl River Delta, Guangdong), Shanghai and Hong Kong take advantage of everything that China has to offer. We typically work with companies in Shenzhen, Guangzhou, Zhuhai, Zhongshan, Shanghai, and Hong Kong.
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FAQS

What are the requirements for opening a bank account in China as a foreign investor?

The requirements for opening a bank account in China as a foreign investor may vary depending on the bank and the type of account you wish to open. Generally, you will need to provide identification documents such as a valid passport, proof of residence or business address, and possibly additional documents such as business licenses or legal documentation related to your company. For more information about opening a bank account in China, please visit our China Bank Account Opening page.

What banking services are available to foreign investors in China?

Foreign investors in China can generally access a range of banking services, including but not limited to opening business and personal bank accounts, domestic and international fund transfers, foreign currency exchange, cash management, online banking, and various types of loans and credit facilities.

Can I access my bank account and perform transactions remotely as a foreign investor in China?

Yes. Many banks in China offer online banking services and mobile banking apps that allow foreign clients to remotely access their bank accounts and perform transactions such as fund transfers, bill payments, and account management.

What banking services does Hongda offer for my business?

We offer a range of banking services tailored to meet the needs of your business. These include business bank account opening, domestic and international fund transfers, cash management solutions, foreign exchange services, and online banking facilities. Our services are designed to streamline your financial operations and support your business growth.

What are the benefits of using Hongda's Monthly Banking and Cash Service?

Our Monthly Banking and Cash Service offers numerous benefits for your business. You can enjoy convenient and secure banking transactions, efficient cash flow management, competitive foreign exchange rates, and personalized support from our experienced team. By outsourcing your banking and cash management needs to us, you can focus on core business activities and achieve greater financial efficiency.

How can I avoid unnecessary fees and charges when running my business?

We understand the importance of cost management for businesses. Our Monthly Banking and Cash Service is designed to help you avoid unnecessary fees and charges. We provide guidance on maintaining the required minimum balances, optimizing cash utilization, and leveraging our fee-saving solutions. By proactively managing your banking transactions, we strive to minimize fees and maximize cost savings for your business.

Can I receive personalized assistance and support for my specific banking needs?

Absolutely! We take pride in offering personalized assistance and support to our clients. Our dedicated team of banking professionals is available to answer your questions, provide guidance, and address any concerns you may have. We strive to understand your unique business requirements and deliver tailored solutions to meet your banking needs effectively.

GET IN TOUCH WITH OUR TEAM

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