Breaking Geographical Boundaries: How East West Bank's Remote Account Opening Can Transform Your Financial Strategy

Velo by East West Bank is a global digital banking service launched by East West Bank, specifically designed for cross-border customers. It offers a range of financial products and services, enabling customers to easily manage their financial needs worldwide. By supporting multi-currency accounts, paperless banking services, and convenient international remittances, Velo accounts allow customers to make deposits, withdrawals, and transfers anytime, anywhere.

Velo also uses advanced encryption technology to ensure the security of accounts and transaction information, providing 24/7 customer support to resolve any issues customers may encounter during use.

Account Types

Velo Checking Account

Features: No monthly fees, supports multiple currencies, convenient online and mobile banking features.

Suitable for: Customers who frequently engage in cross-border transactions, such as international students and business professionals.

Main Functions: Includes check writing, online payments, international remittances, and more.

The Velo Checking Account is designed for customers who need frequent cross-border transactions, supporting multiple currencies to facilitate international remittances and payments. Additionally, the account offers check writing functionality with no monthly fees, providing users with great flexibility and convenience.

Velo Savings Account

• Features: Competitive interest rates, supports multi-currency deposits.
• Suitable for: Customers who want to manage savings globally and earn high interest rates.
• Main Functions: Provides term deposits, flexible withdrawal, and transfer options.

The Velo Savings Account is suitable for customers who want to manage savings globally. The account offers competitive interest rates and supports multi-currency deposits, allowing customers to freely convert between different currencies to maximize their savings returns.

More Convenient Global Multi-Asset Trading Wallet - BiyaPay

For those who want to open an offshore account with East West Bank for cross-border remittance or investment purposes, BiyaPay is a more convenient tool besides traditional banks.

• BiyaPay offers fast, secure, and low-cost cross-border fund transfer services, supporting local transfer remittance services in most regions and countries worldwide.
• Same-day remittances are delivered on the same day, supporting large remittances with fees as low as 0.5%, making it an ideal choice for overseas investors.
• It supports real-time exchange of digital currencies (such as USDT) for mainstream fiat currency services such as USD and GBP, making it easier and more reassuring for digital currency traders to manage their funds.

Main Features and Benefits

Multi-Currency Support

Velo accounts support multiple currencies, making it convenient for customers to convert funds between different countries and regions, saving on exchange costs.

Global Account Management

Through Velo’s mobile app and online platform, customers can access and manage their accounts anytime, anywhere, performing deposits, withdrawals, transfers, and more.

Paperless Banking Services

All banking services can be completed online without the need for paper documents, simplifying the account opening and daily operations processes.

Convenient International Remittances

Provides convenient cross-border payment and transfer services, suitable for customers who frequently transfer funds between the US and China.

24/7 Customer Support

Offers round-the-clock customer support through phone, email, or online chat to resolve any issues customers may encounter.

Security

Uses advanced encryption technology and security measures to ensure the safety of customer accounts and transaction information.

East West Bank Personal Account Opening Process

• Email the Bank Manager: Send an email to the bank manager expressing your account opening needs and wait for a reply with a form to fill out.
• Fill Out the Form: Complete the form and reply. After the preliminary review, you will receive two more documents that need to be printed and a video appointment will be arranged.
• Prepare for the Video Meeting: Have the account opening form, ID, and passport originals ready for the video appointment with the bank manager.
• Complete Video Verification: After the video verification, mail the signed documents to the specified address.
• Deposit to Activate Account: After the bank receives the documents, they will send an email with account details and wire instructions. A deposit of $2500 is required to activate the account.
• Register for Online Banking: Download the app using the link provided in the email, register for online banking, and complete the account setup.
• Initial Deposit Recommendation: It is recommended to deposit $2500 within a week to avoid account closure.

Note: After signing the account opening documents via video verification, you need to send copies of your ID along with the signed documents to East West Bank in the US. The mailing costs are to be borne by the customer.

Conclusion

Velo by East West Bank offers convenient, efficient, and secure global digital banking services, enabling customers to easily manage cross-border financial transactions. Whether for individual or corporate clients, Velo meets diverse needs and provides a one-stop financial solution. By choosing a Velo account, customers can enjoy modern banking services, significantly enhancing financial management efficiency and achieving true global wealth management.