Trans-bank system was unveiled by Central Bank

Trans-bank system was unveiled by Central Bank
Nov 20, 2007 00:24
ICEBERG Points: Join Date: Sep 10, 2007 Status: offline	Yesterday, the central bank started a trans-bank system for small payments. About 14 commercial banks in Beijing will firstly apply this system. Those who want to deposit, withdraw or transfer small amount of money randomly in different banks must sign a contract with the account banks. And then they will get a 12 digits payment bank code. With this code, they can realize their dream to deposit, withdraw or transfer their money in different banks that have participated in this program. However, the service is not free. The clients need to pay a certain fee for their transactions. Different banks charges variously. CCB, BOC and ABC cahrges their clients one percent of the transacted money. But the minimum and maximum charges varies. On the charge issue, people say that it is too high, no difference with transfer fees. Compared with those four stated commercial banks, some other banks charge their clients less money. One of them even charges their clients 0.1%.

Nov 20, 2007 00:24

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Join Date: Sep 10, 2007
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Yesterday, the central bank started a trans-bank system for small payments. About 14 commercial banks in Beijing will firstly apply this system.

Those who want to deposit, withdraw or transfer small amount of money randomly in different banks must sign a contract with the account banks. And then they will get a 12 digits payment bank code. With this code, they can realize their dream to deposit, withdraw or transfer their money in different banks that have participated in this program. However, the service is not free. The clients need to pay a certain fee for their transactions. Different banks charges variously. CCB, BOC and ABC cahrges their clients one percent of the transacted money. But the minimum and maximum charges varies.

On the charge issue, people say that it is too high, no difference with transfer fees. Compared with those four stated commercial banks, some other banks charge their clients less money. One of them even charges their clients 0.1%.

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