E-Finance

【About Funds aggregation】

Question: How to use the real-time inter-bank transfer-in function?

Answer: Before using the real-time inter-bank transfer-in function, you need to sign an agreement between the designated IB account and that of another bank. You may initiate the signing of agreement on the page of real-time inter-bank transfer-in or log on to the internet banking system of the other bank to initiate the signing of agreement and inform IB. After signing the agreement successfully, you may enter the page for real-time inter-bank transfer-in where you may select an IB payee account and then click “next”; you can choose the account of the bank requiring transfer from the agreement list signed; and then you may initiate the real-time inter-bank transfer-in service.

Question: Are there any limits to real-time inter-bank transfer-in?

Answer: When signing the agreement on real-time inter-bank transfer-in, the customer may set “ the upper limits for single transfer amount, daily accumulated transfer amount, monthly accumulated transfer amount, daily accumulated quantity of transfers, and monthly accumulated quantity of transfers”; the upper limit for transfer set in the system of the People's Bank of China is RMB 50,000. If you set the limit for single transfer amount above RMB 50,000 in agreement, the upper limit for single transfer amount shall be RMB 50,000 set in the system of the People's Bank of China; if you set the limit for single transfer amount below RMB 50,000 in the agreement, the upper limit for single transfer amount shall be the amount set in the agreement.

Question: Is it required to activate SMS Guard or certificate for an IB account for the functions of real-time inter-bank transfer-in and real-time inter-bank enquiry?

Answer: Activation of SMS Guard or certificate is not required. All internet banking users may log on to the system to initiate signing of agreement or handle business.

Question: Does IB charge for real-time inter-bank transfer-in and real-time inter-bank enquiry?

Answer: During the promotion period of the services, IB does not charge any fees. In case of any charge, IB will provide a bulletin on our homepage. Please check Public Notices of IB for details.

Question: Does the other bank charge for real-time inter-bank transfer-in and real-time inter-bank enquiry?

Answer: The other bank will not charge any fees.

Question: How long will a signed agreement on real-time inter-bank transfer-in (or one on real-time inter-bank enquiry) lose effect after rescission?

Answer: Because the transactions processed in the internet banking interconnection system are all real-time based, the agreement will lose effect instantly upon cancellation.

Question: Why doesn't the certification page of the other bank pop up when I initiate an agreement on the real-time inter-bank transfer-in and real-time inter-bank enquiry on the internet banking system of IB?

Answer: If the certification page doesn't pop up, the internet banking system of IB will return to show the error information of the other bank. The business depends on whether the other bank supports it. Some banks do not support online execution of agreement but require execution on the counter. Please consult the customer service center of the other bank for details and for confirmation.

Question: After signing the agreement, which means may I use to check the agreement signed successfully?

Answer: After signing the agreement successfully, you may directly log on to the personal internet banking of IB to check the agreement, or you may check it through the internet banking of the other bank designated in the agreement.

Question: Can the agreement signed successfully be modified?

Answer: Once the agreement is signed successfully, it cannot be modified in any way. If you insist to modify the signed agreement, you have to cancel the original one and then enter into a new one.

Question: What are the functions of automatic aggregation?

Answer: Automatic aggregation means that a customer may preset the frequency, method, starting time and ending time of automatic aggregation, and then the system may handle the funds aggregation at the set time to aggregate the funds from other accounts of the customer opened in other banks into his or her IB account. If the balance in the account of another bank that needs to be aggregated is large and the aggregation cannot be finished in one transaction, the bank will automatically split it into several transactions for aggregation.

Question: Does automatic aggregation support the aggregation among IB accounts?

Answer: At present, automatic aggregation only supports transferring funds from an account of another bank into an IB account. If you want to aggregate money from an IB account into another IB account, you may set with the functions “transfer and remittance” -> “scheduled transfer”.

Question: What are requirements for setting automatic aggregation?

Answer: To set an account of another bank for automatic aggregation, you must have it and the corresponding account of IB signed the real-time inter-bank transfer-in agreement and real-time inter-bank inquiry agreement.

Question: What are the restrictions for setting automatic aggregation?

Answer: It is only allowed to set one account of another bank for automatic aggregation to one account of IB. More than one accounts of other banks are allowed for automatic aggregation to the same IB account.

Question: What are requirements for an IB account to set automatic aggregation?

Answer: As long as the real-time inter-bank transfer-in agreement and real-time inter-bank inquiry agreement have been signed between an IB account and the corresponding accounts of other banks, the IB account can be set for automatic aggregation. There is no any special requirement for IB accounts.

Question: As a single real-time inter-bank transfer-in transaction can only handle up to RMB 50,000, does automatic aggregation support large-sum aggregation?

Answer: It allows large-sum aggregation. The system will split a large sum into the several transactions for aggregation in line with the aggregation amount of a single transaction which is based on the “single-transaction upper limit” provided in the real-time inter-bank transfer-in agreement. If the “single-transaction upper limit” given in the agreement is below the lower limit for the split amount of automatic aggregation set by the bank, automatic aggregation will not be permitted and it is required to sign the real-time inter-bank transfer-in agreement again. The lower limit of for the split amount of automatic aggregation of the bank is temporarily set as RMB 5,000.

Question: Are there any restrictions for the amount in setting automatic aggregation?

Answer: There is no restriction for the aggregation amount, but the “single-transaction upper limit” in the inter-bank transfer-in agreement must be higher than the lower limit for the split amount of automatic aggregation required by the bank. Otherwise, when the amount to be aggregated is more than “single-transaction upper limit”, the bank's system cannot finish the aggregation by automatic splitting. The lower limit of for the split amount of automatic aggregation of the bank is temporarily set as RMB 5,000.

Question: Which methods can be employed to do automatic aggregation?

Answer: It supports four aggregation frequencies: a day, a week, a month and a lump-sum; and three aggregation methods: aggregation in full amount, aggregation in set amount and aggregation with retained amount.

Question: Can an aggregation be handled upon the expiry date of aggregation term?

Answer: If the aggregation requirements are met at the date of expiry set for the automatic aggregation, the system will continue to activate the automatic aggregation. On the next day, the automatic aggregation will lose effect and not be activated.

Question: Why does the concept of split amount exist?

Answer: Upon activation, the automatic aggregation must conform to the “single-transaction upper limit” given in the agreement and the single-transaction upper limit of RMB 50,000 provided by the People's Bank of China, so the system needs to split the aggregation amount into the several transactions according to the “splint amount” for aggregation. If the “single-transaction upper limit” given in real-time inter-bank transfer-in agreement is less than RMB 50,000, the “split amount” is subject to the “single-transaction upper limit”. If the “single-transaction upper limit” given in real-time inter-bank transfer-in agreement is equivalent to or higher than RMB 50,000 or not limited, the “split amount” shall be deemed as the upper limit of RMB 50,000 provided by the People's Bank of China, that is the aggregation amount will be split on the basis of RMB 50,000 a transaction.

Question: Can I inquire the aggregation details?

Answer: Yes. You can enter the page for inquiry of aggregation details and check the handling state of each automatic aggregation. If one is successful, you can continue to check the result of aggregation and the transfer result of each split transaction. If one fails, you can see the cause of failure.

Question: Which causes may lead to the failure of automatic aggregation?

Answer: If an aggregation instruction is not executed successfully, the status column of handling result will present the link of “cause of failure”. Click the link and you may see a pop-up window which shows the causes leading to the failure in executing the aggregation instruction. There are the following possible causes: failure in inquiring about the balance of an inter-bank account, invalidity of inter-bank account inquiry agreement, and system failure, etc.

Question: Which statuses may the transfer result of the specific split details be in?

Answer: The list of funds aggregation will show the number of split transactions of an aggregation instruction and the transfer result of each transaction. The transfer results will be in three statuses: processing, failed and succeeded. A succeeded one means that this transfer has been completed successfully. A failed one means that this transfer has failed, and possible causes may include: failure of the system of the People's Bank of China, failure of the other bank's system, and exceeding the limit of amount or number of transactions provided in the real-time inter-bank transfer-in agreement, etc. One in processing signifies that our bank has not received the handling result of this single transfer returned by the paying bank temporarily, and the customer may enter the page for account trading details to check the transaction.

Question: Does IB charge for the automatic aggregation? Does the other bank concerned charge?

Answer: During the promotion period of the services, IB does not charge any fees. In case of any charge, IB will provide a bulletin on the homepage of our website. Please go to the website of IB to check public notices for details. The other bank will not charge any fees.

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