The collection and payment business is legal.

The agency collection and payment business refers to the business in which commercial banks use their own settlement facilities to accept entrustment from customers to handle the collection and payment of designated funds.

The types of collection and payment services include collection and payment of remittances, collection and payment of goods, welfare accounts, collection and payment of professional fees, collection and payment of securities, and other agreed payments.

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According to current legal provisions, institutions qualified to carry out collection and payment services include banking financial institutions and payment institutions that have obtained a "Payment Business License", and the business scope of payment institutions should include corresponding online payment, prepaid card issuance and acceptance

Or business scope such as bank card acquiring.

Article 3 of the "Commercial Bank Law of the People's Republic of China" Commercial banks may engage in some or all of the following businesses: (1) Taking deposits from the public; (2) Granting short-term, medium-term and long-term loans; (3) Handling domestic and foreign settlements

; (4) Handling bill acceptance and discounting; (5) Issuing financial bonds; (6) Agency issuance, redemption, and underwriting of government bonds; (7) Buying and selling government bonds and financial bonds; (8) Engaging in inter-bank lending; (9)

Buying and selling, and acting as an agent for buying and selling foreign exchange; (10) Engaging in bank card business; (11) Providing letter of credit services and guarantees; (12) Agency for collection and payment and insurance agency business; (13) Providing safe deposit box services; (14)

) Other businesses approved by the banking regulatory authority of the State Council.

The scope of business shall be stipulated in the articles of association of a commercial bank and shall be submitted to the banking regulatory authority of the State Council for approval.

Commercial banks may engage in foreign exchange settlement and sales business with the approval of the People's Bank of China.

Article 8 of the "Interim Regulations on Intermediary Business of Commercial Banks" provides that the types of intermediary business to which the filing system applies include: (1) Various exchange services; (2) Export collection and import collection; (3) Agency issuance, underwriting, and redemption of government bonds

; (4) Agency collection and payment business, including agency for wage payment, agency for social security fund payment, agency for various public utility charges (such as agency for collection of water and electricity bills); (5) Agency for entrusted loans; (6) Agency for policy banks,

Loan business for foreign governments and international financial institutions; (7) Fund clearing agency; (8) Acquiring business of bank cards from other banks, including agency foreign card business; (9) Various agency sales businesses, including agency sales of traveler's checks

; (10) Various witness services, including certificate of deposit business; (11) Information consulting services, mainly including credit investigation, corporate credit rating assessment, asset assessment business, and financial information consulting; (12) Enterprise and personal financial consulting services

; (13) Enterprise investment and financing consulting business, including financing consulting and international syndicated loan arrangements; (14) Safe deposit box business; (15) Other business types determined by the People's Bank of China that are subject to the filing system.