China Construction Bank has launched a new financial service which enables mobile phone users to easily transfer accounts with their mobile phones.

By binding users' mobile phone numbers with their bank account numbers, the service allows mobile phone users to transfer funds to one another via a mobile phone. This not only improves the efficiency of fund transfers, but also prevents users' bank account from being disclosed. What's more, the fee involved in the transferring is much cheaper than at the bank's counter.

Right now, the service is available to all clients of China Construction Bank. The bank says this is an important measure that they have taken to reduce clients' queue time and lower the bank's operation costs.