Generally speaking, fund custody is the cooperation between P2P platform and third-party payment enterprises. The real "fund custody mode" is to let investors and borrowers open accounts in the system of the third-party payment platform respectively. When the transaction occurs, the funds are directly transferred from the investor's account to the borrower's account without going through the platform layer, so that the amount of the user's account can be withdrawn in real time.

At present, there are not many P2P platforms hosted by third-party funds, and Baru Rongtong is one of them. As far as I know, Balu Rongtong seems to cooperate with Huanxun Payment. When the transaction occurs, Huanxun Payment will make the transaction according to Baru Rongtong's order. If the investor wants to use the funds in the account, such as transaction confirmation, binding bank card change, etc. They also need to verify the IPS account password and SMS verification code received on their mobile phones. When the funds in the investor's account change, the system will notify the investor in the form of SMS as soon as possible, which is relatively safe.