What is the collection of bank funds?

Bank fund collection is a kind of fund collection.

Fund collection refers to the service of collecting funds from the designated accounts of all subsidiaries in a group company to the designated accounts of the head office, also known as fund cleaning. It is beneficial for the group company to realize the unified and standardized management of the funds of its subsidiaries and improve the efficiency of the use of funds of the whole group. It is generally believed that fund collection refers to the accumulation of special funds through financial management or financial means.

Extended data:

Fund collection is a centralized fund management function launched by China Merchants Bank. According to the collection rules set by users, the funds in the bank account (associated account) of China Merchants Bank or other banks are automatically transferred to the designated central account, saving money, effort and worry. Whether in the same city, in different places or across banks, the transfer between the central account and the associated account is free.

There are active and passive operations in this business. For example, after entering the account of super online banking, the woman who needs to receive money enters the super online banking, and after inputting relevant information, the man who needs to receive money inserts the U shield, inputs the password, and receives relevant requests in his own system. The transferee can only set up the account if he authorizes the woman, instead of knowing his account number.

Baidu Encyclopedia-Fund Collection