The Commodity Market Express is a financial service where ABC cooperates with the commodity market to match the bank settlement accounts of dealers with their market funds accounts; it thereby enables the dealers to send fund transfer instructions by ABC or many other channels and achieve real-time transfers between their bank settlement accounts and market funds accounts.
ABC is the first commercial bank in China that has launched customer fund depository service for the commodity market.
Features
1. Sign-up. Two-way initiation, convenient and quick, taking advantage of outlet network.
2. Cancellation. Initiated by the market.
3. Fund transfer-in (transfer from the bank settlement account to the market fund account)
4. Fund transfer-out (transfer from the market fund account to the bank settlement account)
5. Inquiry (about customer’s information, customer's fund, etc.)
6. Alteration of the bank settlement account.
7. Day-end reconciliation. Timely reconciliation and convenient clearing, fully ensuring fund safety.
Benefits
1. Nationwide network of outlets
24,000 physical outlets offer this service across the country. In particular, availability of services is unrivaled in county areas.
2. Complete functions and flexible setting
All functions of the Commodity Market Express system are parameterized to provide flexibility, meeting diversified demand of the market.
3. Inter-city transfer without charges
Our customers may transfer funds between cities through our system free of charge.
4. Application to either ABC or commodity market
Our customers may apply to either ABC or the commodity market for Commodity Market Express services, which is convenient and quick.
5. One card for nationwide services
With a Kins debit card in hand, the dealer may apply for Commodity Market Express services at any ABC outlet in China.
Procedures
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Procedures for Launching Commodity Market Express Services |
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The commodity market files an intent of cooperation in writing |
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Both parties establish work teams after determining cooperation |
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Business preparation, including: business operation process, bilateral agreement, announcement, publicity, arrangement for roll-out, etc. |
Technical preparation, including: dedicated line application, line build-up, interface improvement, interface test, business test, etc.
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The commodity market files a written application for roll-out two weeks in advance, covering: introduction to business preparation, business test result, roll-out schedule, etc. |
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Roll-out |
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Customer's Application for Commodity Market Express Services |
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The customer opens a bank account (debit card) with ABC |
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The customer opens an account with the commodity market |
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ABC outlet sign-up |
Commodity Market Express sign-up |
Commodity market sign-up |
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Funds transfers |
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ABC outlet |
ABC online banking |
ABC telephone banking |
Commodity market erminal |
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Inquiry |
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ABC outlet |
ABC online banking |
ABC telephone banking |
Commodity market terminal |
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Customer Service Center : 95599
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