How about CITIC Bank's salary cooker?

How about CITIC Bank's salary cooker? Salary cooker is a "baby-like" product jointly promoted by CITIC Bank and fund company * * *. Salary cooker can not only bring steady income to investors, but also be operated online, which is simple and convenient. The following small series will tell you whether CITIC Bank's salary pot is good or not.

1. The salary cooker is a kind of "baby-like" financial product

The salary cooker is a kind of monetary fund. CITIC Bank and its own fund company, Xincheng Fund, have launched a kind of "baby-like" product, "CITIC Bank salary cooker-Xincheng Fund salary treasure", which the media said can be regarded as a self-subversion of the banking industry's active reform to highlight the tight encirclement.

"Salary Pot" is a value-added service of current fund balance provided by CITIC Bank in cooperation with fund companies, which provides services such as balance financing subscription and quick realization of fund shares for specific customers' current accounts. The "salary pot" is docked with the Xincheng Salary Jinbao Money Market Fund.

second, the difference between the salary pot and other "baby-like" products

It is understood that compared with all kinds of "baby" products on the market at present, the biggest feature of "salary treasure" is that its subscription and redemption adopt the "automatic" mode: after the customer applies for CITIC Bank Card, a minimum amount can be set, and the excess amount will be automatically converted into a monetary fund, and when the customer needs to use the funds, it is no longer necessary.

Third, the function of the salary pot

From the perspective of the redemption method of "salary treasure", it is a small step more than the traditional money fund "T+" redemption, making its redemption method more convenient. However, the emergence of this convenience is enough to set off a huge wave in the entire internet finance field and even the banking industry.

According to informed sources, the "salary bonus" product jointly launched by CITIC Bank and Xincheng Fund will realize the rapid realization of the money fund share in payment behaviors including but not limited to cash withdrawal from all ATMs and CITIC Bank counters, online and offline consumption and transfer. This means that when customers withdraw cash, spend money or transfer money through CITIC Bank Card, "Salary Treasure" will automatically initiate the application for quick cash-out transaction of corresponding monetary fund shares, and quickly transfer the quick cash-out amount to the customer's bank account, thus meeting the real-time payment needs of customers such as cash withdrawal, consumption or transfer.

In short, the "salary bonus" can provide the annualized rate of return for the funds in the customer's card far exceeding the one-year time deposit without affecting the daily payment of the customer at all, and become a real fool's financial management.

iv. the impact of salary pot on related industries

the introduction of "salary treasure" will subvert the current demand deposit business pattern of the banking industry, which is tantamount to a self-revolution of the banking industry. Insiders pointed out that if all the functions of "salary treasure" are realized, its payment effect is almost the same as that of current demand deposits under bank accounts, but it can provide a relatively high annualized rate of return, which is extremely attractive to demand deposit customers. Judging from normal logic, if "salary treasure" is widely promoted, it is likely to become a new business form to replace demand deposits, and its influence will be far-reaching.

the person in charge of the marketing department of a fund company said that the realization of ATM real-time withdrawal and real-time transfer function is the most critical one kilometer, although it only opens the "last mile" of the payment function of "baby" products, which is enough to change some current business structures of banks. The active promotion of this business by the banking industry shows that the banking industry is changing from passive defense to active attack in response to the threat of deposit loss caused by the rise of the "baby army", which may change the current pattern of Internet enterprises leading Internet finance to some extent.

V. Advantages of Salary Pot

Insiders pointed out that compared with Internet companies, the biggest advantage of the banking industry in launching "Baby" products lies in the expansion of payment functions, especially products such as "Salary Treasure" that can provide real-time withdrawal and real-time transfer functions, which can fully meet the high requirements of customers in terms of capital liquidity and more convenient and faster operation needs. For customers who pay attention to capital liquidity and convenient payment, More importantly, because the current high income of all kinds of "baby" products mainly comes from bank deposits, the banking industry can affect the expected yield of "baby" products to a certain extent. Therefore, once the banking industry is willing to take the initiative to change, the bank version of "baby" products has an advantage over other products in terms of yield.

the participation of the banking industry in the battle group of "baby" products can prevent the rapid loss of deposits to a certain extent, but the price paid is the reduction of some interest margin income. However, under the background that internet finance has become a trend and the traditional financial business model is unsustainable, instead of waiting for all kinds of "baby" products to be gradually eroded until they fall, the banking industry should take the initiative to seize the initiative of the "baby legion" melee by using its existing advantages.