One of the conditions for using the Yu 'ebao red envelope is that the payment method must choose Yu 'ebao, which means that Yu 'ebao must have money. There are two ways to transfer Yu 'ebao, one is to transfer money directly from the bank card, and the other is to transfer money from Alipay balance, which needs to be verified by the bank card.
Extended data
2065438+In May 2008, Tian Hong Fund Management Co., Ltd., the manager of Yu 'ebao, adjusted the maximum amount of personal trading account to 250,000 yuan. In August, this limit was adjusted from 250,000 yuan to 654.38+10,000 yuan.
At the end of the year, the company announced that the daily subscription amount of the personal trading account of Tian Hong Yu 'ebao Money Market Fund was adjusted to 20,000 yuan, and the total holding amount of the personal trading account was still 654.38+10,000 yuan.
Since then, another item has been added to the "purchase restriction order": from February 1 day to March 15, Yu 'ebao will limit the total daily subscription and sell it at 9: 00 every day until the subscription on that day. At the same time, the function of automatically transferring Alipay balance to Yu 'ebao is suspended. As of now, the purchase restriction continues.
With the continuous "slimming" of Yu 'ebao, it is increasingly difficult to snap up the daily limit. "Now that it's 9 o'clock, you must open the APP to grab it, otherwise the quota of the day will soon be' seconds'.
At the same time as Yu 'ebao's "restricted purchase", it also stopped the business of automatically transferring Alipay balance to Yu 'ebao. In this way, users can only manually purchase Yu 'ebao by transferring money to Alipay balance, thus earning interest income.
"Yu' ebao has adjusted the trading rules several times, mainly pointing to controlling the scale. "Zhao Yi, a special researcher at the Payment and Clearing Research Center of the Institute of Finance of China Academy of Social Sciences, said that this is based on the change of its own liquidity control. Not only Yu 'ebao, but also many "baby" money funds can purchase and redeem in real time, which is called "T+0". The user initiates the withdrawal and receives it immediately.
This trading model puts forward higher requirements for the liquidity of the fund. "It depends on the operation mode of the money fund." Zhao Yi explained that in fact, the trading rules of most traditional money funds are "T+ 1", and "1" means 1 working day.
To maintain the liquidity of "T+0" money fund, in most cases, the fund company needs to maintain it in the form of "advance payment". In other words, whenever the user needs to redeem it immediately, the company actually pays in advance. The amount of advance funds depends on the size of the fund and also tests the financial strength of the fund company.
According to the report disclosed by Yu 'ebao, as of the end of the third quarter of last year, Yu 'ebao was 1.56 trillion yuan, making it the largest money market fund in the world.
"With the continuous expansion of Yu 'ebao, the company needs to ensure the liquidity of funds, which means that more funds need to be paid in advance." Zhao Wei said that this has accumulated some liquidity risk.
In extreme cases, a large number of users have to withdraw cash from Yu 'ebao at the same time, and it is very difficult for the company to advance huge amounts of money. It is the demand of the internal operation of the monetary fund to control the scale of funds in time and prevent liquidity risks.
Restricting the quota will have a certain impact on the investor structure. For example, large investors with high net worth may switch to other fund products, which has little impact on ordinary users. Yu 'ebao will further clarify customer orientation and return to the long tail customer base.
Reference: Baidu Encyclopedia? Yu' ebao?
Xinhuanet? Why is Yu 'ebao limited to "slimming"?