good harvest
The People's Bank of China and the China Banking and Insurance Regulatory Commission recently jointly held a symposium on the work of RMB cash services in banking financial institutions, requiring banking financial institutions to do a solid job in RMB cash deposit and withdrawal business. All commercial banks, rural credit cooperatives and other institutions with physical outlets must handle the RMB cash deposit and withdrawal business.
In people's cognition, commercial banks should provide cash deposit and withdrawal services.
However, two private banks have recently announced that they will stop cash operations.
One of the banks issued an announcement saying that after reporting to the relevant departments, it will suspend the cash collection and payment business from April 1, and the suspension channels include the counters of business outlets and ATM machine self-service channels.
Another bank issued an announcement that it will suspend counter and ATM cash services from March 1.
The decision of the two banks not only subverts people's perception of commercial banks, but also makes people worry about whether other banks will follow suit.
In recent years, due to the impact of new businesses such as mobile payment and digital currency, the bank's cash deposit and withdrawal business has seriously shrunk. Many banks have cancelled their branches, and the number of ATM machines and service windows of bank branches that have not been cancelled have also decreased.
In this context, the cessation of cash business appears to be a trend.
Once the number of commercial banks that stop cash deposit and withdrawal business continues to increase, it will not only affect consumers' use of cash, and thus affect normal production and life, but also affect the circulation and image of RMB cash, which will lead to a significant reduction or even stagnation of cash business in the economy and society. .
At the same time, this also means a decline in the ability of financial services, which in turn affects the image of the banking industry.
The suspension of cash business by commercial banks does not comply with relevant legal principles.
Article 2 of the Commercial Bank Law stipulates: The term "commercial bank" as mentioned in this Law refers to an enterprise legal person established in accordance with this Law and the "Company Law of the People's Republic of China" that absorbs public deposits, grants loans, and handles settlements and other businesses.
This means that banks have to offer services such as cash deposits.
Article 29 stipulates that in handling personal savings deposits, commercial banks shall follow the principles of voluntary deposit, free withdrawal, interest-bearing deposits, and confidentiality for depositors.
If commercial banks suspend the RMB cash deposit and withdrawal business, consumers' "freedom of withdrawals" will undoubtedly be affected.
Although one of the above-mentioned banks that announced that they would suspend the cash deposit and withdrawal business stated that if they really need cash services, they can transfer to another bank for processing, and the bank waives the transfer fee, but this obviously adds trouble to consumers.
Because the depositor and the bank are in a contractual relationship, the bank unilaterally suspends the cash deposit and withdrawal business, which is both a breach of contract and a violation of the law.
RMB cash is the national legal tender, and RMB cash service is the most basic and fundamental financial service.
Cash placement, purchase and storage is the most basic business of banking financial institutions. It plays an important role in meeting the production and living needs of the people, serving the real economy, and maintaining the stability of the monetary and financial system.
Data shows that in 2021, the national net cash investment will be 651 billion yuan, which shows that the demand for cash is still very strong.
Now, the People's Bank of China and the China Banking and Insurance Regulatory Commission have said "no" to the suspension of cash deposit and withdrawal business by commercial banks, which is timely and necessary.
It not only protects the legitimate rights and interests of consumers, but also conveys a clear regulatory orientation - that is, handling RMB cash deposit and withdrawal business is the service bottom line of commercial bank outlets. We must also shoulder the social responsibility of serving the people and serving the overall situation.
As for the service cost of handling RMB cash deposit and withdrawal business, on the one hand, commercial banks must realize that only by providing cash deposit and withdrawal services at bank outlets can they stay ahead of the competition, otherwise the shrinking of banking business will be more obvious.
On the other hand, it is necessary to "digest" the service costs of traditional businesses by innovating other businesses.
Even if the cash deposit and withdrawal business does not bring direct benefits to the bank, it will bring a variety of indirect benefits.
For example, handling cash deposit and withdrawal business can keep the basic popularity of bank outlets, and it is also conducive to increasing customers, laying a foundation for the bank to expand new business, and also ensuring that the bank's financial services are sound, which plays an important role in maintaining the bank's image and competitiveness. .
Therefore, in addition to the regulatory requirements that commercial banks must handle cash deposit and withdrawal business, commercial banks should also recognize the importance of cash deposit and withdrawal business.