The disclosure discloses a method for implementing account transfer using a mobile terminal, which includes: an uplink processing module receives a transfer-out transaction request from a transferor and a transfer-in transaction request from a transferee or an agent; an encryption and decryption module performs format verification and decryption of the transfer-out transaction request and transfer-in transaction request, randomly generates a withdrawal password according to the transfer-out transaction request, and provides the withdrawal password to a transaction processing module and a transferee; the transaction processing module authenticates a user accessing to the mobile terminal wallet transaction, performs the transfer-out operation according to the transfer-out transaction request, and performs the transfer-in operation according to the transfer-in transaction request and the withdrawal password provided by the encryption and decryption module; and a downlink processing module returns a response message to the mobile terminal of the transferor, transferee or agent after the transaction processing is completed. The disclosure also discloses a service platform for a mobile terminal wallet transaction. By adopting the disclosure, the inconvenience caused by the fact that the current transfer way using the mobile terminal must be supported by the bank outlet is overcome.