On April 1, 2016, IB announced that the handling fee for transfer and remittance via its electronic channels will be waived for individual clients.
Particularly, all the domestic RMB transfer business via IB's internet banking, phone banking App, WeChat banking or other electronic channels by individual clients, regardless of amount, local or remote, intra- or inter-bank, will all be exempt from handling fee. Given its over 20 million users of electronic banking, such a favorable measure will benefit extensive clients.
As introduced by the person in charge at IB's headquarters of Retail Bank, in recent years, while promoting its transformation of retail business, IB focused on improvement of intelligence, digitization and informatization of business. The application of Apple Pay, IB Power, Cloud Quick Pass and other mobile financial products not only optimizes service quality and customer experience, but also lowers the management and service costs, which in turn brings maximum benefits and more favorable, convenient and efficient financial services to individual clients.
The bank also continually optimizes the functions and process of transfer and remittance via electronic banking from the view of user experience.
For example, the inter-bank transfer of amount less than 50,000 yuan will be conducted as "real time transfer" by default; clients that opened transfer and SMS token via internet banking could transfer by logging mobile banking, and opening transfer function via mobile banking during the transfer process; they can also synchronize the frequent collection accounts at personal internet banking to their mobile banking; add new functions to transfer foreign exchange with personal banking and mobile banking; add new services of "scanning to buy wealth management products" at mobile banking with which clients can purchase wealth management products directly by scanning the QR code of such products.