1) Service overview
This service enables group customer to transfer funds within internal accounts, as well as make centralized payment to external.
2) Function introduction
This includes head office proactive collection, head office fund allocation, inter-division fund transfer, division intra-bank fund transfer, division inter-bank fund transfer, and group automatic centralized collection discretion setting, etc.
a) Head office proactive collection: head office can collect fund from divisions’ account and consolidate fund.
b) Head office fund allocation: head office can allocate fund to divisions.
c) Inter- division fund transfer: group can transfer fund among each division’s account.
d) Division intra-bank fund transfer: group can transfer fund to other corporate accounts at SRCB through division’s account.
e) Division inter-bank fund transfer: group can transfer fund to other personal and corporate accounts at other banks through division’s account.
f) Group automatic centralized collection discretion setting: head office can set collection conditions and period, so as to realize automatic fund collection to improve efficiency.
3) Important notice
a) Divisions have to fill in “letter of authorization for group client electronic banking account service” before linking with group account.
b) Fund transfer service hours: for fund transfer between head office and divisions, and division intra-bank fund transfer, service hour is 8:00-19:00 on business days; for division inter-bank fund transfer, service hour is 8:30-16:45 on business days. Order submitted on non-service hour will be postponed to the next business day.
c) Real time arrival for fund transfer between head office and divisions, and division intra-bank fund transfer. For division inter-bank fund transfer, real time arrival for intra-bank/inter-bank large-value remittance through PBoC platform (ie. express, or above RMB 20,000 offsite remittance) and for local remittance; within 1 business day for small-value remittance (below RMB 20,000 or offsite remittance).
d) The system will make automatic fund collection once the preset conditions are met for Group automatic centralized collection.
