Balance treasure type financial products will replace bank deposits

A balance treasure, advancing the ordinary Chinese people's investment and financial concepts of progress, unveiled the prelude to the Internet financial era, to Alibaba's long-standing credibility as a backing, the balance treasure for the whole of China's financial environment vibration are worthy of a big book. There was even a time when people felt that bank demand deposits were meaningless and would eventually be completely replaced by BalanceBao-type financial products, do you think this statement is correct?

Similar voices have actually been heard for a long time. However, back to the actual situation at the moment. Whether it's a current or fixed-term treasure such financial products, even if they look similar to the bank's current fixed deposits, they are by no means likely to replace, but at most as a supplement to the bank's business shortfalls. Not because of the gap between the two interest rates, it is rashly determined, who can replace who. Because, everyone's concept of investment and finance is to choose a balance between interest and security. Banks are almost synonymous with the safest, and hold an unassailable advantage in the choice of investors.

In addition to safety, there is a major influence is the channel. At present, the investment and financial channels of P2P lending platforms are all through the network, and young people naturally have no problem. But for many older people, it is a huge obstacle, not only is it not easy to invest, but the most important thing is the lack of a withdrawal network for them to see at any time, adding too much psychological burden. A similar situation, also happened in the majority of farmers brothers, physical currency itself can bring a sense of solidity, which is also very important for many people.

What can be seen is that with the continuous development of private financial institutions in the past few years, many banks have begun to sit up. And private banks to grasp the pulse of the times and has always been very strong, for example, by China Merchants was the first to put forward the waiving of network transaction fees, which are heralded by the traditional financial institutions steps are also stepping away, it is impossible to stand by and give away the huge market. This is the ultimate reason why the bank deposit business will not be eliminated.