Alipay will also withdraw the fees and accumulate 20,000 basis free credits per person

Following the receipt of the withdrawal fee from WeChat in March, Alipay has just issued an announcement saying that since October 12th, 2016, Alipay will charge a 0.1% service charge for personal users exceeding the free cash withdrawal due to the increase in overall operating costs. Each user has a total of 20,000 yuan free cash withdrawal. After using the basic free credit, users can use ants points to redeem more free cash withdrawal credits.

Alipay said that the ultimate choice was to withdraw money rather than charging for other links, because users paid more with Alipay than with cash. The use of Alipay by users is more for various consumer, financial management, payment, credit card, mobile phone recharge, etc. The demand for withdrawal is relatively less, and only the withdrawal of the fee is paid, and the impact on users will be relatively small.

Each user has a total of 20,000 basic free credits

The balance of the treasure is not affected by the transfer is still free

According to reports, Alipay’s withdrawals involve two functions: “withdrawing cash to my bank card” and “transferring bank cards to others”. In accordance with the adjusted rules, Alipay also charges service fees in excess of the free amount by 0.1% of the withdrawal amount. If the single service fee is less than 0.1 yuan, it will be charged at 0.1 yuan. The difference is that Alipay personal users can accumulate a free cash withdrawal limit of 20,000 yuan.

According to the announcement, in addition to cash withdrawal, Alipay uses consumer banking, financial management, insurance purchase, mobile phone recharge, water and electricity coal payment, registration, payment of traffic fines, mobile phone Alipay transfers to Alipay accounts, repayment and other services without any influence. Ant scores can also be obtained while using. After the free credit is used up, the accumulated ants points can be used to redeem the free cash withdrawal limit. Alipay introduced that the current conversion ratio is that 1 ant can redeem a free cash withdrawal limit of 1 buck, which is not capped.

Alipay's adjustment of cash withdrawal rules is not the industry's first case. In March of this year, WeChat has started charging 0.1% of the user's cash withdrawal fee. Each user has a total of 1,000 yuan free cash withdrawal quota.