All branches, operations offices, and the central sub-branches of the People's Bank of China (PBC) in the provincial capital cities, and Shenzhen central sub-branch of the People's Bank of China, all policy banks, state-owned commercial banks, joint stock commercial banks, and China Postal Savings and Remittance Bureau:
For the purpose of minimizing the impact of modification of clients' account numbers arising from the upgrade of internal business processing system by the banking financial institutions (hereinafter referred to as the banks) to depositors, we hereby notify you of the relevant issues concerning the bulk modification of account numbers of the RMB bank settlement account management system (hereinafter referred to as the account management system) as follows:
I. Meaning and scope of bulk modification of account numbers
The term “bulk modification of account numbers” means the mass changes of all clients' account numbers arising from the change of the business processing systems of banks, which led to the bulk adjustment of numbers of the RMB bank settlement accounts (hereinafter referred to as the bank settlement accounts) stored in the account management system.
The bulk modification of account numbers can change the bank settlement account numbers only, but not the basic information of the relevant depositors and other account information besides account numbers.
II. Procedures for the bulk modification of account numbers
(i) Where it is necessary for any policy bank, state-owned commercial bank, joint stock commercial bank, or China Postal Savings and Remittance Bureau to change account numbers in bulk, its legal-person institution shall submit an application to the Headquarters of the PBC no later than three months before starting the use of new accounts, and the Headquarters of the PBC shall, after approval, inform the branch of the applicant to handle the specific formalities for bulk modification of account numbers at the local branch of the PBC.
The Headquarters of the PBC shall notify the branches, operations offices, and the central sub-branches in the provincial capital cities, and Shenzhen central sub-branch of the People's Bank of China (hereinafter referred to as the provincial-level branches) of the bulk modification of bank account numbers, and the provincial-level branches of the PBC shall forward them to all the branches of the PBC within their jurisdictions.
(ii) Where it is necessary for any city commercial bank, rural commercial bank, rural cooperative bank, or urban and rural credit cooperative to change account numbers in bulk, its legal-person institution shall submit an application to a provincial-level branch of the PBC at its locality no later than three months before starting the use of the new accounts, and shall, after the approval of the provincial-level branch of the PBC, inform the branch of the applicant to handle the specific formalities for bulk modification of account numbers at the local branch of the PBC.
The provincial-level branch of the PBC shall notify the bulk modification of bank account numbers to the branches of the PBC at various levels within its jurisdiction.
III. Submission of the application materials for bulk modification of account numbers
A bank branch shall, after receipt of the notice on bulk modification of account numbers forwarded by its superior bank, make an application for bulk modification of account numbers to the local branch of the PBC no later than two months before starting the use of the new accounts, and shall submit the following materials:
(i) Documents issued by the Headquarters of the PBC or a provincial-level branch, which approved of the bulk modification of account numbers by the legal-person institution of the applicant;
(ii) Account opening permits for the bank settlement accounts in the approval category;
(iii) An “Application Form for Bulk Modification of Account Numbers” (See Annex 1) filled out by the opening bank, which shall indicate the reason for the bulk modification of account numbers, the starting time for the use of new accounts, the amount of accounts of which the numbers to be changed in bulk, and shall be affixed with a special seal of business;
(iv) A “Comparative Chart of Bulk Modification of Account Numbers” (See Annex 2) worked out by the bank branch, which shall include the bank institution code, name of depositors, nature of the bank settlement accounts, old account numbers, new account numbers, and approval numbers of the account opening permits for the bank settlement accounts in the approval category; and
(v) Electronic version of the “Comparative Chart of Bulk Modification of Account Numbers” made by the bank branch according to the interface standards of the account management system.
For bank settlement accounts in the approval category for which the applicant failed to provide account opening permits, the modification of the account numbers shall be handled according to the normal procedures for opening or canceling accounts, i.e. the depositors should cancel the original bank settlement accounts before opening new ones.
IV. Examination on the application materials for bulk modification of account numbers
(i) Examination by the local branches of the PBC
A local branch of the PBC shall, after receipt of the materials submitted by a bank branch, complete the examination on the materials submitted by the bank branch within ten workdays. The examination shall be made with respect to:
1. whether there are documents issued by the Headquarters of the PBC or a provincial-level branch which approved of the bulk modification of account numbers by the legal-person institution of the bank branch;
2. whether or not the account opening permit originally issued is authentic and effective;
3. the authenticity, integrity, and compliance of the “Application Form for Bulk Modification of Account Numbers” and the “Comparative Chart of Bulk Modification of Account Numbers” submitted by the bank branch.
4. whether the electronic version of the “Comparative Chart of Bulk Modification of Account Numbers” meets the interface standards of the account management system.
If the bank branch passes the examination, the local branch of the PBC shall submit, level by level, the “Application Form for Bulk Modification of Account Numbers”, the “Comparative Chart of Bulk Modification of Account Numbers” and the electronic version thereof to the provincial-level branch of the PBC it is subordinate to; if the bank branch fails to pass the examination, the disapproval of modification shall be written down on the “Application Form for Bulk Modification of Account Numbers”, with one page preserved by itself and the other page as well as other application materials being returned to the bank branch.
(ii) Examination by the provincial-level branches of the PBC
A provincial-level branch of the PBC shall, after receipt of the materials submitted by a local branch of the PBC, complete the examination on the application for bulk modification of account numbers within 15 workdays.
If the bank branch passes the examination, the formalities for bulk modification of account numbers shall be handled; if it fails to pass the examination, the submitted materials shall be returned to the local branch of the PBC, and the local branch shall return them to the bank branch.
V. Processing of the bulk modification of account numbers
(i) Processing by the provincial-level branches of the PBC
1. For an application for bulk modification of account numbers passing the examination, a provincial branch of the PBC shall finish the bulk modification of account numbers within 15 workdays. The specific procedures are:
(1) Before the function of “bulk modification of account numbers” of the account management system is available, a payment system department of a provincial-level branch of the PBC shall submit an application to the Payment System Department of the Headquarters of the PBC, after the approval by the Payment System Department of the PBC, it shall fill out a “Record of Bulk Modification of Account Numbers” (See Annex 3), and send it to a science and technology department. The science and technology department shall, after receipt of the “Record of Bulk Modification of Account Numbers”, timely arrange for scientific and technical personnel to directly amend the account management system database according to the “Comparative Chart of Bulk Modification of Account Numbers”, replace the data of account numbers, and the information of original account numbers shall be kept as historical data.
(2) After the function of “bulk modification of account numbers” of the account management system is available, a senior director of business of the provincial-level branch of the PBC of the account management system shall import the electronic information of the “Comparative Chart of Bulk Modification of Account Numbers” into the account management system through the functional module of “import of bulk modification of account numbers”. The few modifications of account numbers or the failure records of bulk import may be input and amended one by one through the functional interface of the “input of bulk modification of account numbers”.
A provincial-level branch of the PBC shall print the processing list of bulk modification of account numbers through the account management system:
a) If the account numbers are successfully changed, it shall print out the bank institution code, name of depositors, account nature, old account numbers, approval number of the account opening permit, modification date, new account numbers, and the time when it is started to be used;
b) If the account numbers are not changed, it shall print out the bank institution code, name of depositors, account nature, approval number of the account opening permit, and the cause of modification failure.
The time when the function of “bulk modification of account numbers” of the account management system is available shall be separately informed by the Payment System Department of the Headquarters of the PBC.
2. After the completion of the bulk modification of account numbers, the provincial-level branch of the PBC shall inform the local branch of the PBC of the result of modification within five workdays.
(ii) Processing by the local branches of the PBC
1. A local branch of the PBC shall, after receipt of a notice on the processing result of bulk modification of account numbers, print the account opening permits through the functional module of “renewing of account opening permit” and on the basis of the bank institution code, new account inquiry, and transfer of the information of depositors, and complete the printing of the account opening permits of bank settlement accounts in the approval category for all the modified accounts within 10 workdays.
2. A local branch of the PBC shall deliver the new account opening permits to the relevant bank branches.
VI. Preservation of materials of bulk modification of account numbers
A local branch of the PBC shall be responsible for keeping the account opening permits submitted by a bank branch and a page of the “Application Form for Bulk Modification of Account Numbers” filled out by the bank branch.
A provincial-level branch of the PBC shall be responsible for keeping one page of the “Application Form for Bulk Modification of Account Numbers” and the “Comparative Chart of Bulk Modification of Account Numbers” filled out by a bank branch, and the processing list of bulk modification of account numbers printed through the account management system after the bulk modification is made (which shall be “Record of Bulk Modification of Account Numbers” before the function of “bulk modification of account numbers” is available).
The preservation of materials of bulk modification of account numbers shall be governed by the relevant provisions of the Measures for the Administration of Accounting Archives.
See Annex 4 for the specific procedures for bulk modification of account numbers.
All branches, operations offices, central sub-branches of the People's Bank of China in the provincial capital cities, and Shenzhen central sub-branch of the People's Bank of China should forward this Notice to the city commercial banks, rural commercial banks, urban and rural credit cooperatives, as well as foreign-funded banks of the provinces (regions or cities) at the locality.
For any situation and problem encountered during the implementation of this Notice, please timely report it to the Payment System Department of the Headquarters of the PBC.
Contact person: Xie Qunsong, Tel: 010-66195541.
Annexes: (For annexes, please refer to the Chinese version)
1. Application Form for Bulk Modification of Account Numbers
2. Comparative Chart of Bulk Modification of Account Numbers
3. Record of Bulk Modification of Account Numbers
4. Procedures for Bulk Modification of Account Numbers
The General Administration Department of the People's Bank of China
August 25, 2005
