Formal Launch of In-BoB Fund Transfer

The in-BoB fund transfer system of Bank of Beijing has been formally launched, which could reduce the transfer time into 1 hour. The new function has indicated a new stage of the Bank’s settlement business.

The new system mainly serves the fund transfer for BoB corporate clients. As long as both counterparties of the transaction open their accounts in Bank of Beijing, they could use this system to transfer money, no matter if it is a local or cross-region transaction. The system also supports debit and credit business, meaning the customer can appropriate fund out initiatively and can collect money from the other side’s account by using the check. Besides serving Bank of Beijing’s clients, the system can also be used for BoB’s internal fund appropriation.