WeChat to charge fees…

WeChat-Wallet

 

Wechat Wallet was free of use oralmost till now… from March 1st 2016, you will still be able to transfer up to 1000 RMB to your bank account free of charge but, above this limit, WeChat will charge a fee of 0.1 percent for transferring money from the WeChat Wallet to personal bank accounts. 

The fee is intended to cover bank fees for such transactions. But actually this is a way to encourage WeChat users to use the digital wallet service for online payments and offline rather than transferring money from and to their bank accounts.

Reminder: These banks allow you to link your UnionPay Card with a WeChat Wallet (for foreigners):

  • ICBC
  • Bank of China
  • China Construction Bank
  • Agricultural Bank of China (ABC)
  • Bank of Communications
  • China Merchants Bank
  • Industrial Bank (Xingye)
  • Huaxia Bank
  • Chine Everbright bank Bank

1st, if you still don’t have a Wechat Wallet, check our tutorial

 

Sources:

http://www.globaltimes.cn/content/968662.shtml

http://www.chinadaily.com.cn/business/tech/2016-02/16/content_23501742.htm

http://www.scmp.com/tech/apps-gaming/article/1913503/tencent-charge-users-china-transferring-money-wechat-wallet-bank

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I am living in China since 2007. I am sharing my experiences for other expatriates to make their stay in Beijing more enjoyable. As I am writing this blog for SCOUT Real Estate agency, I am also computing updates about the Real Estate market in Beijing, not only on residential properties, but as well on commercial locals and offices. Hope you enjoy your reading!