Bank of China-New York offers Statement Savings Accounts. With a Statement Savings Account, you will receive a monthly statement listing all transactions, interests earned, balances and all other account activities. Interests are compounded monthly on balances if minimum requirements are met. Deposits can be made in person or by mail. An initial deposit of $5,000 to open a commercial statement savings account. Withdrawals can be made at any time from your available balance. Minimums on the account's daily balances are required to earn interest and to waive monthly service charge. A monthly service fee of $20 will be imposed every statement cycle if the average daily balance in the account falls below $1,000 for the month. For further details, please contact our customer service.
Interests are compounded monthly on balances when minimum requirements are met. If the account is closed before interests are credited, no interests will be earned for that period. Six debit transactions are permitted during a statement cycle, as stipulated by law.
Bank of China-New York reserves the right to revise minimum balances and fee structures upon notice.