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ICBC (USA) NA important account information update 11.1

 

Dear Customers,

We are writing to inform you of impending changes to the checking accounts you may have with ICBC USA. If you have a Personal Checking Account, Senior Citizen Now or Student Checking Account, please refer to the following chart for changes that will become effective January 1, 2021.

Current Requirement

New Requirement

Personal Checking

$500 minimum average daily balance required to waive monthly service fee

$1,000 minimum average daily balance required to waive monthly service fee; or

Direct Deposits1 can be tied to this account to waive monthly fee of $15

Premier Checking

$500 minimum average daily balance required to waive monthly service fee if Premier Package’s combined balances fall under Premier requirements

$1,000 minimum average daily balance required to waive monthly service fee of $15 if Premier Package’s combined balances fall under $25,000

Senior Citizen Now

No minimum average daily balance is required to waive monthly service fee

55 years of age or older are eligible

$300 minimum average daily balance is required to waive monthly service fee of $10

62 years of age or older are eligible

Student Checking

No minimum average daily balance is required to waive monthly service fee

$300 minimum average daily balance is required to waive monthly service fee of $10

These changes will allow us to continue to improve our products and services to assist you better. For example, we have recently implemented a few improvements tied to your checking accounts:

  • Our VISA branded Debit Card or ATM card has been upgraded with a secure chip, making your daily transactions more secure. You can also sign up for SMS alerts to monitor the card usage and “tap to go” for faster check-out. Request a debit card from your banker.
  • To address our limited ATM locations, we waive fees, including ours and the third parties’, for withdrawing cash from other ATMs as long as you maintain certain deposit balances. We have recently lowered the required average daily balance from $15,000 to $5,000 in combined deposits to enjoy No ATM Access fees worldwide. For a Student Checking, this threshold is an average daily balance of $1,000.
  • We recently launched our ICBC Mobile App, featuring both English and Chinese. With the mobile app, you can deposit checks, pay bills, and request wire transfers. Look for “ICBC Mobile Banking” in your App Store. Through the end of January 2021, download our app and sign up for eStatement, to receive a statement credit reward of $10.

We have also enhanced our mortgage program to offer preferred rates for high balance deposit customers, Ask your banker at your Branch about this program.

Thank you for banking with us, and we will continue to strive for excellence in servicing you. If you have any questions regarding the plan changes effective January 1, 2021, please call your local branch where you opened your account(s). Refer to their phone numbers as follows:

Branch

Address

Phone Number

New York

Canal Street Branch

202 Canal Street, New York, NY 10013

(212) 238-8208 

Brooklyn Branch

5714 8th Avenue, Brooklyn, NY 11220

(718) 210-0508 

Flushing Branch

3902 Main Street, Flushing, NY 11354 

(347) 905-9772 

Northern California

SF Chinatown Branch

1001 Grant Ave., San Francisco, CA 94133

(415) 352-6900 

Clement Branch

622 Clement St,. San Francisco, CA 94118

(415) 668-8877 

Noriega Branch

1250 Noriega St., San Francisco, CA 94122 

(415) 665-8877 

Oakland Branch

401 9th St., Oakland, CA 94607

(510) 208-2140

South SF Branch

235 Grand Ave. #01, South San Francisco, CA 94080 

(650) 872-9700 

Southern California

Alhambra Branch

388 East Valley Blvd., #118, Alhambra, CA 91801

(626) 300-8888

Hacienda Height Branch

17180 Colima Rd., Hacienda Heights, CA 91745

(626) 965-3938

San Gabriel Branch

168 West Valley Boulevard, San Gabriel, CA 91776

(626) 656-0880

Temple City Branch

5773 Rosemead Blvd., Temple City, CA 91780

(626) 656-8888

Torrance Branch

23133 Hawthorne Blvd., #100, Torrance, CA 90505

(310) 802-7388

Washington

Seattle Business Center

701 Pike Street, Suite 2150, Seattle, WA 98101

(206) 876-8000

Texas

Houston Business Center

2800 Post Oak Blvd, Suite 5105, Houston, TX 77056

(281) 763-7228

Sincerely,

ICBC USA Team

$250 or more per Direct Deposit is required. Your direct deposit needs to be an electronic deposit of your pay, pension, or government benefits (such as Social Security) from your employer or the government.

You must first sign up your account online and use the same credentials to register for mobile app. Allow up to 4 weeks for rewards processing after the end of January 2021.


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