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☆ Introduction
Auto-Transfer is an ICBC service to make fund transfer as instructed by client. Currently, this service offers 3 types of Auto-transfer: Recurring, balance top-up and trigger.
1. Recurring Auto-Transfer: transferring a fixed sum to your or other's account from your account at a fixed cycle, it is applicable to make transfer for house mortgage repayment account every month, alimony to parents and living expense to children, etc.
2. Balance Top-up Auto-Transfer: When the balance in your account or other one's account is below your specified standard, ICBC Auto-ally transfers a certain sum from other account of yours in order to maintain the account balance above the specified standard.
3. Trigger Auto-Transfer: When the balance in your current account is below the pre-specified amount, ICBC will transfer a sum (exceeded amount or fixed amount) out of the account and deposit it to a fixed deposit (or call deposit) Auto-ally in order to increase your savings interest. The account to be debited can be a current account of yours or other one's.
4. Auto-pooling: ICBC transfers a fixed sum from your specified pooled account to a pooling A/C automatically, or transfers the amount over the agreed balance in your pooled A/C to the pooling account. Through the auto-pooling, you can manage the amount in your personal A/C or family A/C automatically.

☆ Features
1. Intelligent, time-saving and trouble-free financing: After signing Auto-Transfer Agreement with ICBC, you needn't worry about your trivial accounting matters. ICBC will make transfer Auto-ally under your requirement to save your time and energy.
2. Convenience to apply. You may not only apply it at ICBC banking outlet, but also may apply it via Internet Banking self-service.
3. Various services: ICBC Auto-transfer can help you with living expenses for your children, or alimony to parents, or maximum limitation control of account.

☆ Cases
1. Rcurring Auto-Transfer
Madam Zhao, vice president of a company in Beijing. Her son studies in Peking University. She gives a fixed sum living expenses to her son every month.
In the past: every first day of the month, Madam Zhao deposited monthly living expense into her son's ICBC Money Link Card at an ICBC banking outlet.
Now: after applying "fixed cycle Auto-Transfer", a pre-specified amount of living expenses is transferred into her son's account on the first day of each month. Madam Zhao need not go to the bank every month.

2. Balance Top-up Auto-Transfer
Mr. Zhang's family is quite typical that all the income comes from Mr. Zhang's salary and bonus, and Mrs. Zhang takes care of all the expenditure as a full-housewife. Mr. Zhang, in consideration of safety and convenience, applies a ICBC Money Link Card for his wife as the expense account of the family. He hopes that the balance remains at around RMB 10, 000 in this card for his wife's consumption and cash withdrawing.
In the past: Mr. Zhang and Mrs. Zhang checked the balance of ICBC Money Link Card frequently. When the balance was less than RMB 10,000, Mr. Zhang went to the bank to make a transfer from his payroll account.
Now: Mr. Zhang applies "Balance Top-up Auto-Transfer" service; ICBC checks the balance of Mrs. Zhang's ICBC Money Link Card every day. When the balance is less than RMB 10,000, ICBC transfers a certain sum from an account specified by Mr. Zhang to replenish Auto-ally.

3. Trigger Auto-Transfer
Mr. Ding is a professional writer; his monthly income is about RMB 20,000. A special current account is opened under his Elite Club Account for receiving payment from publisher and magazine house.
In the past: Mr. Ding was too busy to manage his idle fund. Large amount of income kept in his current account. He transferred his income to a 1-year fixed deposit every 6 months; Assume Mr. Ding receives income on the first and fifteenth day of each month, RMB 10,000 each time. From January 1 to July 1, interest will be: 10000×0.72×80%/24×(12+11+……+1)=RMB 187.2.
Now: Mr. Ding applies "Trigger Auto-Transfer" service; ICBC will Auto-ally check Mr. Ding's receiving account every day. Once the balance in the account is over the specified amount, ICBC transfers the exceeded amount to a 1-year fixed deposit Auto-ally. Now Mr. Ding's income will be transferred as 1-year fixed deposit Auto-ally on the day of income. Interest accrued on 6 months' income will be: 10000×2.25×80%/24×(12+11+……+1)= RMB585, it is 3.125 times as previous.

4. Auto-pooling
Mrs. Wang works in a company and she earns RMB 10,000 per month. Mr. Wang is a top manager of a company and his salary is RMB 50,000 per month. Mrs. Wang is responsible to manage the family income.
In the past: Mr. Wang has to transfer the salary into Mrs. Wang's A/C every month, as requested by Mrs. Wang, which is very troublesome to Mr. Wang as he is very busy.
Now: Mrs. Wang uses auto-pooling service. She specifies her A/C as the auto-pooling A/C, Mr. Wang's A/C as the pooled account and the minimum balance in the pooled account. ICBC will check Mr. Wang's A/C automatically every day. When the amount in Mr. Wang's A/C is over the specified amount, ICBC automatically transfers the amount into Mrs. Wang's A/C.

☆ Service Channel
ICBC banking outlet and Internet Banking.

☆ Operation Guide
ICBC banking outlet: Apply at ICBC banking outlet with your Elite Club Account Card (or ICBC Money Link Card).

The above is for reference only. Details refer to the rules drawn up by local ICBC branch. To save your time, please call your local ICBC before applying for the service.
Personal Finance