Your business may have customers ready to pay and suppliers waiting for funds, yet its usual banks cannot handle the cross-border payment. For trade linked to Russia or selected Middle Eastern markets affected by geopolitical tensions, this problem may recur. You need to know whether another service can support the customer receipt, supplier payment and currency your business needs.
EZIPD's CIPS-Based Cross-Border Bank Settlement Service offers a selective cross-border RMB option for corporate groups, businesses facing high-friction payments and established VIP clients. RMB is the Chinese currency. Access is limited, and the required account demands very high trade volumes. There is no sector-specific entry restriction; each business and transaction still needs bank acceptance.
The transfer fee is 0.4%, covering the combined outbound and inbound transfer charges for an eligible transaction. Account opening and ongoing Bank Service are charged separately. The RMB payment stage is expected to take 1-2 business days once funding, document and bank-approval requirements are met. Account opening and later currency steps have separate timelines.
When this service is worth considering
The main question is whether this service fits the scale and demands of your trade. A large transaction alone does not show that it is the right fit.
- A corporate group may need to receive customer funds and pay suppliers across several markets, with regular, substantial trade volumes.
- A trading business may have difficulty receiving or sending payments linked to Russia or selected Middle Eastern markets affected by geopolitical tensions.
- An established VIP client may need an additional settlement option as its business grows beyond the arrangements it already uses.
We review the actual payment need in each case. A high-friction market is one where bank restrictions or more detailed checks make ordinary receipts and payments harder.
For a simpler business with an account that already meets its needs, another arrangement may add work without enough benefit.
Why access depends on scale and an established relationship
For this premium service, the required account is intended for businesses with very high trade volumes. We confirm the relevant volume requirements during a private review. Group status or a large payment alone does not secure access to this limited-capacity service.
Without an established working relationship, we do not normally recommend purchasing this service. An existing relationship helps us understand the trade, the parties involved and the records behind the payments.
If your business is not yet at that scale, build a suitable account setup now. You can revisit this service as trade grows or payment needs change. Existing clients and advisers can also introduce a business with a relevant need for review. An introduction starts a suitability discussion; it does not reserve capacity or replace the bank's checks.
What we clarify before you commit
We do not publish the complete funds route or bank identities for this VIP service. In a private assessment, we clarify whether it fits your trade and what you need to prepare.
Before you commit, we work through five practical questions with you:
- Which company will apply, and what trade-volume and document conditions must it meet?
- What receipt or payment is being assessed, in which currency, and for which business purpose?
- What needs separate account opening, bank approval or currency conversion?
- Which charges apply, when does the timing estimate start, and who handles follow-up?
- What is already confirmed, and what must be completed before funds move?
We distinguish confirmed terms from conditions still awaiting bank review, so you can decide whether to proceed. The relevant banks receive the transaction background and the evidence they require. Keeping the route out of public materials does not limit what we disclose to them.
What CIPS covers and where currency conversion fits
CIPS is the Cross-border Interbank Payment System. Its official service description explains its clearing and settlement functions. Under this EZIPD service, the CIPS-based stage settles in RMB.
If your business needs USD or another currency afterwards, an eligible NRA account and bank foreign-exchange (FX) services may support that requirement. An NRA here means an account held by an overseas company at a bank in China. The bank must separately confirm the account functions, currency conversion and any further payment. This service does not clear USD directly through CIPS.
Tell us the currency your business ultimately needs to use, not only the currency of the first payment. That lets us assess the commercial requirement before you choose an account or commit funds.
Fees and the settlement time estimate
The settlement charge is separate from the services needed to open and operate an account.
| Item | Current basis |
|---|---|
| Transfer fee | 0.4% in total for the outbound and inbound transfer charges of an eligible transaction accepted by the handling bank. |
| Bank Account Opening Service | Separately agreed and charged. It is not included in the 0.4% transfer fee. |
| Post-Opening Bank Service | Separately agreed and charged. Ongoing bank communication and account-use support are not bundled into the transfer fee. |
| NRA and foreign-exchange costs | Any account-specific charges, exchange rate, FX spread (the bank's exchange-rate margin) and other bank costs are confirmed separately. |
For an approved RMB payment, the estimated settlement time is 1-2 business days. The clock starts only after the required account in your company's legal name is funded, all required records are complete and the bank approves execution. Confirm what counts as completion for your payment before promising a date to your supplier.
Account opening, review before approval, and any later NRA or FX step have separate timelines. Daily bank payment deadlines, holidays, further document requests and the receiving bank's review can affect completion. The estimate is not a guaranteed arrival time or an end-to-end promise.
Account opening and Bank Service are charged separately
The required account must be in place before settlement. Help with opening it and ongoing Bank Service have their own agreed scope and fees.
Bank Account Opening Service helps your company prepare its application and communicate with the bank. This can include checking the business facts and preparing supporting records. The bank decides whether to open the account and which functions to allow.
Post-Opening Bank Service supports use of the account within the agreed scope. It can include bank communication, guidance for first use, follow-up on document requests and help with separately reviewed FX applications. Your company keeps final payment approval.
Agree who will prepare payment instructions, answer the bank's questions and follow up after submission. Our first-payment preparation guide explains these practical responsibilities in more detail.
How EZIPD helps you make the decision
Our banking advice draws on completed client work and direct discussions with banks. We check the receipt you need, the supplier payment it must support and the currency you will use. A service that can handle the first receipt may still be unsuitable if the later payment or currency need cannot be approved.
We call this approach our decision engine. It combines the facts of your business with expert judgment and lessons from execution. It helps you make a well-prepared decision with more relevant information, before a payment deadline limits your choices.
Banking Intelligence assesses bank fit, current acceptance conditions and the account functions the business needs. Structure Intelligence checks how the company, trade and currencies fit together. Service Intelligence turns the chosen approach into clear responsibilities, documents and follow-up tasks.
We then recommend whether to apply, address specific gaps first, or use a different arrangement. If the service fits, we define the next steps and any separately commissioned support. Lessons from actual account use then inform later decisions. That is Design First, Action Follow in practice.
Questions clients ask before a review
Does CIPS access mean my payment will be accepted?
No. Access to a payment system does not approve a company, trading partner or transaction. Every case still requires genuine trade, customer and transaction checks, anti-money-laundering controls, applicable sanctions and export-control screening, and independent bank review. The handling bank is matched to the case and current conditions; it is not fixed in advance.
Does using CIPS mean the whole payment avoids Swift?
Using CIPS does not by itself mean the whole payment avoids Swift. Swift's published explanation of its work with CIPS distinguishes financial messaging from a payment system. The actual arrangements depend on the banks involved.
Request a confidential suitability review
For an initial discussion, share your company's registration location and the nature and scale of its trade. Explain the payment markets, currencies, frequency and problem you need to solve. If you already work with EZIPD, tell us what has changed in your business. For an introduction, describe the other company's need first and obtain its permission before sharing confidential records.
With these facts, we can discuss whether this service merits a closer review or whether another account arrangement fits better.
Related reading
- Corporate bank account preparation explains the evidence needed for an application.
- China NRA and Hong Kong account options helps frame a wider account choice; it does not establish access to this service.
- Which company should sign your trade contracts connects payment roles to the underlying trade.