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Personal Fund Collection

Overview
Personal funds collection is a service designed by ABC to meet the demand for strengthening the centralized management of funds in different accounts of the same or different customers, or between corporate accounts and personal accounts, improving the utilization rate of funds and reducing funds costs, by transferring all or part of funds in one or several accounts into a designated account on a regular basis based on the specific agreement with customers.
The principal account of personal fund collection refers to the account to which funds are transferred. The principal account can be either a RMB personal demand settlement account opened with ABC (debit card and settlement passbook) or a RMB corporate demand settlement account. If the principal account is under the demand settlement passbook, the corresponding account-opening bank of the sub-account shall be a bank of free deposit and withdrawal. The service cannot be applied for the demand settlement passbook beyond free deposit and withdrawal.
The sub-account of personal fund collection refers to the account from which funds are transferred. The sub-account can be a RMB personal settlement account (including debit card and demand settlement passbook) opened under the same or different customer number of the principal account with ABC. If the sub-account is under the settlement passbook, the corresponding account opening bank of the principal account shall be a bank of free deposit and withdrawal.
Features
The product helps customers to improve the utilization rate of funds and reduce funds cost through two ways of funds collection including batch collection and direct deduction.
Direct deduction is a real-time way of funds collection consisting of full and part amount deductions. Funds now can only be deducted via online banking.
Batch collection means that the system automatically collects funds of the customer based on the preset collection cycle and conditions.
It provides daily, weekly and monthly collections based on customers’ choice: the funds in the sub-account will be transferred to the principal account of customers according to their choice.
Batch collection provides four real-time reports:
1.full-amount collection,
2. balance collection,
3. round-off full amount collection, and
4. round-off balance collection.
Target customers
Personal customers, privately owned business and enterprises with a need for enhancing centralized fund management.

Note: Please contact your local branch for detailed information about the service.

Customer Service Center : 95599

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