rollettocasinonodepositbonus| Attention! Several banks have notified that such products will be completely removed from the shelves starting from May 15

On May 15, a number of banks officially launched intelligent notification deposit products. As China Merchants Bank (600036) announced that from the 15th to stop the intelligent notice deposit business service and handle the business settlement of interest.

In addition, Everbright Bank (601818), Industrial Bank (601166), Ping an Bank (000001) and others have also issued such announcements, saying that the relevant intelligent notification deposit business has been terminated. As for the reasons for the removal of smart notice deposits, a number of bank announcements explained that they were due to business operation adjustments and policy changes.

At the same time, in terms of large certificates of deposit, the reporter noticed that some banks currently have no quota for three-year and five-year certificates of deposit, and the longest term of large certificates of deposit for some banks is only one year.

Zhou Maohua, a macro researcher in the Financial Markets Department of Everbright Bank, pointed out to reporters that at present, some banks remove smart deposits and adjust large deposit certificates, which are beneficial to easing the cost of bank liabilities. In particular, banks with high liabilities such as large deposit certificates and smart deposits have a relatively greater impact.

A number of banks are "off the shelves" intelligent notice deposits.

According to the announcement of China Merchants Bank, due to policy changes and business adjustment needs, the bank to adjust the smart notice deposit business. Starting from the 15th, the bank will stop the intelligent notice deposit business service and handle the interest settlement of this business, and transfer the deposit principal and interest to the account agreed in the relevant legal documents according to the relevant legal documents signed by the customer when handling the intelligent notice deposit business. the relevant legal documents on the intelligent notice deposit business previously signed by the customer shall be terminated as of May 15, 2024.

It is understood that after China Merchants Bank signed the intelligent notice deposit agreement, there is no need to transfer the amount to a specific account, the funds are deposited into the current account, the system will automatically calculate interest in accordance with the corresponding interest-bearing rules, and the funds can be used at any time without making an appointment in advance.

Picture sourceRollettocasinonodepositbonusOfficial website of China Merchants Bank

"our bank will take off the intelligent notice deposit business on May 15. If you do not close the agreement, the system will be closed, April interest will be paid on May 1, and May interest will be paid in bulk after May 15." China Merchants Bank said.

In addition to China Merchants Bank, Societe Generale also announced that its personal smart call deposit product will automatically terminate on May 15, 2024. Customers who have handled the personal intelligent notice deposit business will settle the interest and terminate the contract automatically on the latest settlement date, at which time the principal and interest of the product will be automatically transferred to the customer's current account.

Photo Source: official website of Industrial Bank

Societe Generale announced that its enterprise financial customer intelligence notice deposit product will be terminated automatically from May 15, 2024. For the enterprise financial customers who have handled the intelligent notice deposit business, the bank will settle the interest for the customers and terminate the contract automatically on the settlement date of the intelligent notice deposit account. At that time, the principal and interest of the products will be automatically transferred to the customer's current account.

Ping an Bank also said that due to business adjustment, on May 15, 2024, the "Daily Life Fund" and "Smart Deposit-Notification Deposit" products were released, and the related business was terminated.

Photo: official website of Ping an Bank

According to Ping an Bank, the bank's smart deposit-notice deposit has the characteristics of "current convenience and periodic income". The rich funds in the current account can be automatically transferred into time deposits, and the funds transferred to time deposits through this service can be withdrawn at any time or withdrawn through ATM and directly used for payment.

Help to ease the cost of bank debt

As for the reasons for the removal of smart notice deposits, a number of bank announcements explained that they were due to business operation adjustments and policy changes.

It is understood that as early as May last year, regulation lowered the self-regulatory limits on demand deposits such as agreed deposits and notice deposits, and required the suspension of notice deposits that do not require customer operation and intelligent automatic roll-over, and the stock naturally matured.

For example, Ping an Bank suspended the sale of "smart notice deposit products" on May 14 last year, and only stock products have been left since then.

"Intelligent notice deposits can not only enjoy the convenience of withdrawing demand deposits, but also obtain the income of fixed deposits. Meet the income and liquidity needs of depositors, so as to enhance the ability to obtain customers and liabilities. " Zhou Maohua told reporters that the business actually increases the cost of debt and the difficulty of liquidity management for banks.

In addition to the removal of intelligent notice deposits, the reporter noted that a number of banks have also removed long-term large certificate of deposit products. For example, China Merchants Bank currently has a maximum maturity of two years, and the account manager of China Merchants Bank told reporters, "there is no limit for three-year and five-year certificates of deposit on the APP of China Merchants Bank."

On the 15th, the reporter found that the large certificates of deposit currently issued on Minsheng Bank (600016) App have a maximum maturity of only one year and have been sold out.

Photo: App of Minsheng Bank

Zhou Maohua pointed out that at present, the removal of smart deposits and the adjustment of large certificates of deposit by some banks are beneficial to ease the cost of bank liabilities, especially those banks with high liabilities of products such as large certificates of deposit and smart deposits have a relatively greater impact.

"however, deposit products such as large certificates of deposit account for a relatively low proportion of overall commercial bank liabilities, and the cost of overall bank liabilities is limited." More importantly, the removal of banks from shelves or the adjustment of related products will help maintain the normal competition order in the deposit market and reduce the impact of high interest rates on deposits, Zhou said.

Reporter | Editor Zhao Jingzhi | Lu Xiangyong Zhang Yiming du Bo

This article was first posted on the official account of Wechat: the Daily Business News. The content of the article belongs to the author's personal point of view and does not represent the position of Hexun. Investors operate accordingly, at their own risk.

rollettocasinonodepositbonus| Attention! Several banks have notified that such products will be completely removed from the shelves starting from May 15