OREANDA-NEWS. September 30, 2011. The Business Department of ICBC Guangdong Branch and GZL International Travel Service Limited jointly announced "GZL Travel Security Deposit", the first such unique custody service in the country for those who travel all around the world without worry, reported the press-centre of ICBC.

Over the past few years, Chinese choose to travel abroad as shown by the increasing number every year. Relative to go sightseeing in China, the biggest difference to travel abroad is pay an extra travel security deposit, besides getting passport/visa and going through other procedures. Travel security deposit is a certain amount in cash paid to the domestic travel agency, who require those who travel abroad to pay as guarantee in order to stop them from staying abroad and not coming back to China. Except countries in Southeast Asia which are nearer to China, a security deposit of RMB 20,000-200,000 is required when traveling to USA, Europe, Australia, Japan or Korea. Such a large amount will definitely leave a lot of questions to the travelers, such as: "security deposit is safe or not when I travel abroad", "any interest on the security deposit", open questions without answers.

The new ICBC "GZL Travel Security Deposit" service addresses all the above questions. According to the Business Department of Guangdong Branch, as long as you have an account in ICBC, you can sign up the service easily. When you join a GZL overseas group tour at the designated GZL shop, you can sign the necessary agreement at the designated ICBC outlet in Guangzhou. ICBC will freeze an amount stated in the agreement in your personal account as security deposit. Interest is accrued on the security deposit amount in the account at the rate of original deposit. When you come back to China, the security deposit amount will be released and used as normal, very simple.

As related by the Business Department of Guangdong Branch, placing security deposit under the custody of a bank is beneficial to the travel agency as well as traveler. To the traveler, the professional service of ICBC is the best safekeeping of the security deposit. The other point is the interest accrued on the security deposit in the account while traveling abroad, ensuring no loss in deposit interest. Besides, it is easy and fast to apply this service. To the travel agency, having a bank to keep the security deposit leave more time to provide even better services to the travelers.