Zhejiang Chouzhou Bank Launches NRA Accounts to Streamline Global Trade

Published: 12/30/2025
NRA Account Cross-border Payment Collection Foreign Trade Settlement
The Zheshang Bank NRA account is an ideal choice for foreign trade enterprises, effectively solving cross-border payment collection and foreign exchange settlement issues, and helping enterprises expand into the global market. This account features multiple advantages, including fund freedom, fee reduction, diverse channels, rich currencies, and flexible interest rates. It is suitable for enterprises with overseas trade needs, overseas registered companies, and financial institutions. Choose Zheshang Bank's NRA account for smooth global trade.
Zhejiang Chouzhou Bank Launches NRA Accounts to Streamline Global Trade

As global economic integration accelerates, an increasing number of Chinese companies are expanding internationally and participating in global market competition. However, cross-border payments and foreign exchange settlements remain significant challenges for export-oriented businesses.

What Is an NRA Account?

The Non-Resident Account (NRA) is a banking solution designed for overseas-registered entities (including those from Hong Kong, Macau, and Taiwan) to open accounts with mainland Chinese banks. Serving as a financial bridge between businesses and international markets, NRA accounts facilitate smoother cross-border capital flows.

Key Advantages of NRA Accounts

These specialized accounts offer several strategic benefits for international trade operations:

  • Enhanced Financial Flexibility: Enables unrestricted fund transfers without foreign exchange limitations, allowing global capital allocation and immediate currency conversion capabilities.
  • Cost Efficiency: Exempt from deposit interest taxes with waived account management and transaction fees for linked settlement accounts.
  • Multiple Transaction Channels: Supports various cross-border RMB settlement methods with no annual conversion limits for individuals, plus online banking functionality.
  • Multi-Currency Support: Processes major global currencies (USD, EUR, GBP, JPY) including Russian rubles and currencies from certain regulated markets.
  • Competitive Returns: Offers favorable interest rates compared to conventional banking products with flexible investment options.

Ideal Users of NRA Accounts

This financial solution particularly benefits:

  • Export-focused enterprises requiring foreign exchange settlements
  • Overseas-registered entities including offshore Chinese investment firms and Hong Kong companies
  • International banking institutions and their foreign branches
  • Non-banking financial institutions operating globally

Transaction Processing Details

For successful international transfers using NRA accounts:

  • Correspondent Bank: BANK OF AMERICA N.A. NEW YORK (SWIFT: BOFAUS3N)
  • Receiving Bank: ZHEJIANG CHOUZHOU COMMERCIAL CO.,LTD (SWIFT: CZCBCN2X)

Note that beneficiary account numbers must include the "NRA" designation for proper processing.

Strategic Benefits for Global Trade

NRA accounts provide comprehensive solutions for international business operations by:

  • Streamlining foreign currency management and cross-border transactions
  • Eliminating conventional $50,000 annual conversion limits
  • Reducing operational costs while improving capital efficiency
  • Facilitating market expansion into emerging economies

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