East West Bank is a publicly traded bank in the United States, headquartered in California, California, focusing on the United States and Greater China markets, is the largest commercial bank in the United States with local Chinese as the main market, and is also the largest bank headquartered in Southern California. East West Bank is ranked among the top 30 banks in the U.S. for outstanding performance and has been named one of the top 10 banks in the U.S. by Forbes for four consecutive years. Representative offices have been established in Beijing, Chongqing, Taipei, Xiamen and Guangzhou. East West Bank provides professional, fast and low-cost services to customers in need between China and the United States, and can provide Chinese services and related special service products for Chinese customers in China, such as Chinese-English bilingual online banking services and Chinese services at the national free ** service center.
Specific advantages of the Huamei account:
1 .The whole process of ** account opening is faster, only the corresponding information is required, and the account opening review is fast;
2 .It is convenient to buy money transfers, and it is also convenient to send money to other foreign bank accounts.
3 .East West Bank is a bank with Chinese people as the main market, and the financial service process is supported by Chinese customers and easy to consult.
In short, it is very advantageous for investors who do cross-border e-commerce, foreign trade, or invest abroad and speculate in U.S. stocks.
Secondly, the process of East West Bank is very simple, you only need to submit all the information required to open an account to East West Bank; After the bank approves it, it will make an appointment with you for a call time and a signing time, and the customer will receive the account after signing, and the customer needs to pre-register.
Make a deposit to activate the account. After the account is activated, you can also take it out, and after the account is opened, you can open online banking, which is convenient.
The next step we are going to introduce is a Huamei East West Bank account, not a Huamei VELO account.
1. The difference between East West Bank and Velo.
1.1.The relationship between the two.
It can be understood that East West Bank is a traditional commercial bank, a bank with physical counter business; Velo, on the other hand, is a virtual bank account owned by East West Bank, which is also East West Bank, but has a different product team.
1.2.There are different ways to open an account.
To open a physical bank account of East West Bank, you need to apply to the East West Bank account manager, and you need to authenticate with the bank manager**; To apply for a Velo account, you only need to fill in the information in the Velo app.
1.3.The services enjoyed are different.
East West Bank has an account manager service, Velo does not have a manager service, and you can only contact customer service if you have any problems.
1.4.The cost of use is different.
1.4.1.value checking account, the account balance is less than $1500, and the management fee is $5 per month (this is opened by default).
1.4.2.Premium checking account with less than $2,500 balance and $10 monthly management fee.
1.4.3.Premium e-Checking account (i.e., Velo) with a balance of less than $2,500 and a management fee of $25 per month.
1.4.4.$15 overseas remittance from East West Bank account; $40 overseas remittance from Velo account.
East-West Bank Transfers: This transfer method is free and instantaneous. There is no specific limit to the amount of money you can transfer, but it may be affected by account balances or other factors.
Zelle: It's also free, but you need to have a U.S. checking or savings account. The transfer limit is $2,500 per day and $10,000 per month.
U.S. Domestic Wire Transfers: There is a $30 or $40 fee for this transfer method, depending on whether the transfer is to an individual account or a corporate brokerage account. The transfer limit is $100,000 per day and $200,000 per month3. If you need to transfer a larger amount, you can contact your account manager.
ACH Autopay: This transfer method is free of charge, but requires registration for ACH services in online banking. The transfer limit is $100,000 per day and $200,000 per month.
Alipay Transfer: This method charges a $10 fee, but enjoys a favorable exchange rate and low telecommunication fees. The beneficiary account must be in Chinese mainland. The transfer limit is $5,000 per day and $20,000 per month.
International Wire Transfers: This method of transfer requires a fee ranging from $20 to $45, depending on the amount and country of remittance; The transfer limit is $100,000 per day and $200,000 per month.
East West Bank personal account opening process
Prepare all the documents and submit them to the bank;
After the preliminary review is passed, the first time will be arranged. Notify the customer of the specific ** time by email(The customer is required to reply to the email to confirm the time and print out the account opening**);
Prepare the account opening**, ID card and passport, and enter the Zoom meeting room and bank manager** at the agreed time;
* After witnessing, the signed document can be mailed to the designated address to open an account;
After receiving the documents, the bank will send a remittance instruction with an account by email, and the handler will deposit $1,600 to activate the account;
The customer registers for online banking through the *** app in the file, that is, the account opening is completed;
After the account is closed, it is recommended to deposit $1,600 in the activation fund within a week to avoid closing the account.
5. Frequently asked questions.
5.1.Does East West Bank support ACH & Zelle transfers?
Support ACH and Zelle free transfers.
5.2.Can I apply for a credit card at East West Bank?
You can apply for a secured credit card, that is, you need to pledge the corresponding amount to obtain the corresponding credit consumption limit.
5.3.Is there a Chinese customer service, Chinese app?
As a commercial bank with the largest customer base of Chinese descent, it supports Chinese.