12 Chinese Lenders Form Internet Banking Alliance to Allow Free E-Transfers
Yicai Global
/SOURCE : Yicai
12 Chinese Lenders Form Internet Banking Alliance to Allow Free E-Transfers

(Yicai Global) July 29 -- An internet financial alliance recently agreed between 12 Chinese joint-stock commercial banks will allow customers to make electronic money transfers between member banks free of charge.

China Merchants Bank Ltd., Shanghai Pudong Development Bank Co., China Everbright Bank Co., Huaxia Bank Co., China CITIC Bank, China Minsheng Banking Corp., Guangdong Development Bank Ltd., Industrial and Commercial Bank of China Ltd., Ping An Bank Co., Hengfeng Bank Co., China Zheshang Bank Co. and China Bohai Bank Co. are all members of the alliance.

The banks' online banking systems are already connected. The exchange of funds will initiated in the near future.

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