On May 20, IB held signing ceremony in Beijing of Universal Life “Overseas Education Financial” strategic cooperation agreement with four famous overseas education organizations, including China Education Association for International Exchange and China Center for International Educational Exchange. It marked that Industrial Bank, one of Fortune 500 companies, blew the clarion of entering overseas education financial market.
It is said that, IB will jointly investigate and publish index about overseas colleges with China Education Association for International Exchange, and will hold 1,000 overseas education salons with four organizations including China Center for International Educational Exchange.
At the same time, IB also launched “Universal Life” comprehensive overseas education financial service program. Centered on unsecured individual overseas education loan, the program covers a series of products and services such as overseas debit card, overseas education credit card, purchasing foreign currency, overseas remittance and witness of opening overseas account.
Cooperate with associations and organizations
At the ceremony, IB signed strategic cooperation agreement with China Education Association for International Exchange. In the future, both parties will jointly investigate overseas colleges and publish index for the reference of students pursuing overseas education.
China Education Association for International Exchange is a national organization engaged in non-governmental international education cooperation and communication in China education. IB has been invited by the association to be the only financial institution and also a special standing executive director of Self-supporting Overseas Education Agency Chapter under the association.
With the solid platform of China Education Association for International Exchange, IB also signed "Headquarter to Headquarter" strategic cooperation agreement with four of its members, i.e. China Center for International Educational Exchange, GEDU Overseas Education Service Center, Beijing Aoji Enrolment Centre of International Education Ltd. and EIC Group. According to their agreement, IB will organize with these four organizations 1,000 overseas education salons, and provide consultation services for study destinations, procedures and financial product supports for students and families.
As the first and only Equator Bank in China, IB has actively performed social responsibilities and lend great support for “121”, a Sino-US talent development program developed by China Center for International Educational Exchange by funding the "Yushu Education Supporting" project under the Program. It is learned that “Yushu Education Supporting” project recruited a number of overseas student via “121” Program and supported education in earthquake-stricken Yushu, Qinghai Province so as to bring knowledge and hope to the children over there.
Differentiation of Overseas Education Financial Service
At the meeting, IB presented a brand new comprehensive program of overseas education financial service.
“Although many banks have already introduced ‘overseas education financial’ service, we believe that there is still good opportunities for us with our featured products and differentiated service,” said Chen Jinguang, vice president of Industrial Bank.
As introduced by the related person-in-charge of head office, Retail Bank of IB, centered on unsecured individual overseas education loan, the program covers a series of products and services such as overseas debit card, overseas education credit card, purchasing foreign currency, overseas remittance and witness of opening overseas account.
In particular, the credit-based individual overseas education loan is unsecured, simple to apply, sufficient in amount and easy to repay. Targeting at middle school and university students abroad and in Hong Kong, Macao and Taiwan, such loan could be used to pay security deposit, tuition fee, living expenses and agency fees, and one may borrow up to 1 million yuan under withdrawal type of overseas education loan. The overseas debit card features "linked cards", i.e. deposit domestically and draw overseas directly, thus saving tedious procedures of remittance, and even enjoy privileges such as handling charge reduction/exemption for three overseas withdrawal transactions per month and discount on purchasing foreign currency. And overseas education credit card provides a lot of value added services to students, including free of overseas remittance charge for swiping cards and entitlement to VIP room of global airport, pick-up at overseas airport and rewarded points exchanging for airlines mileages.
Besides, IB also works with the National Australia Bank to provide witness service for opening overseas bank account. Overseas students can open account with the National Australia Bank's overseas branch via any outlets of IB, facilitating the payment of tuition fees and international remittance. Australia and New Zealand are the first destinations qualified for this service.
Recently, IB has made quite a lot of actions in overseas financial market: in March, it held a press conference to release the “Universal Life” overseas financial service which combing various products and services such as loan, credit card, foreign currency and agency visa transfer and covering tourism, overseas education, medical and immigration, thus meeting individual clients overseas financial demands in a comprehensive way; in May, it signed cooperation agreement with CITS head office to diversify their overseas financial service, providing easier and safer agency visa transfer service for overseas travelers.
The Bank indicated that, it will release more better related products and services to further cover areas in tourism, overseas education, medical and immigration based on client's demands, and help domestic clients to live a true “Universal Life”.