2. Yu 'ebao actually buys T+0 money fund through Alipay. There are many ways to buy money funds, not just bank channels. Of course, this will have a certain impact on banks.
3. Judging from the bank's deposit business, it won't have much impact. After all, in China, users of this deposit will still deposit, and users with deposits will not transfer their deposits to Alipay's account;
4. Due to the background of Alipay itself, users will not deposit a lot of money into Alipay accounts;
5. At present, Alipay has no direct connection to purchase large wealth management products. This business is precisely the focus of the bank. Starting from 5W, Alipay has no ability or can't get involved in millions of wealth management products.
To sum up, Yu 'ebao's business will not conflict with the bank's deposit business, but at most it will have a certain impact on the bank's fund purchase business.