Alipay cash withdrawal starts to charge individual users to enjoy a total of 20,000 yuan in free cash withdrawal

On September 12, Alipay issued an announcement stating that due to the increase in comprehensive operating costs, in order to continue to provide users with more high-quality services, starting from October 12, 2016, Alipay will charge a 0.1% service fee for individual users who exceed the free amount. Each individual user will enjoy a cumulative free amount of 20,000 yuan. After using up the basic free credit limit, users can use Ant points to redeem more free cash withdrawal limits.

　　Alipay cash withdrawal refers to the act of a user transferring funds to a bank card through Alipay, involving "withdrawing money to his own bank card" and "transferring money to other people's bank card". According to the adjusted rules, Alipay also charges a service fee of 0.1% of the cash withdrawal amount for the part exceeding the free amount, and a service fee of less than 0.1 yuan will be charged at 0.1 yuan.

　　The announcement shows that in addition to withdrawing cash, the use of Alipay for consumption, financial management, insurance purchase, mobile recharge, water, electricity and coal payment, registration, payment of transportation fines, transferring money to Alipay accounts and repayment services will not be affected in any way. After using up the free amount, the Ant points accumulated by the user can be used to redeem the free withdrawal amount. According to Alipay, the current redemption ratio is that 1 Ant Point can be redeemed for a free withdrawal amount of 1 yuan, and the upper limit will not be capped.

　　Regarding Yu'ebao, Alipay stated that the transfer of Yu'ebao funds, including transferring to your own bank card and transferring to Alipay, will continue to be free. However, starting from October 12, 2016, the funds newly transferred from the balance to Yu'ebao can only be transferred back to the balance when transferred out, and cannot be transferred directly to the bank card.

　　Alipay said that the final choice of withdrawals rather than charging in other links is because users pay with Alipay much more frequently than withdrawals. Only charges for withdrawals will cause users to be less affected.

　　Alipay said that this is not an easy decision for cash withdrawal fees that exceed the free amount, and it does not mean that Alipay will make money as its sole purpose from now on. "But all services need to be based on sustainable resources and strive to support them is contrary to objective business laws."

　　In addition, Taobao sellers transfer funds in Alipay's balance to their bank card through the "cash withdrawal" product.

　　On March 1 this year, WeChat Pay stopped charging handling fees for the transfer function, and at the same time, it began to charge handling fees for the withdrawal function. The withdrawal fee is charged at 0.1% of the withdrawal amount, and each transaction is at least 0.1 yuan. Each user can receive a free withdrawal amount of 1,000 yuan. Tencent said that this strategy adjustment is also hoped to subsidize part of the huge cost. But this incident has caused protests from many netizens.

　　The following is the full text of Alipay statement

　　Announcement on the adjustment of some service rules of Alipay

　　Dear users:

　　From guarantee transactions to quick payments, to various life and financial services, Alipay has been committed to providing you with various free and convenient services such as life consumption, recharge and transfer, and public services. Thank you for your company and tolerance, trust and trust, which is the most important driving force for us to keep moving forward.

　　However, with the increase in comprehensive operating costs, in order to continuously provide you with more high-quality services without reducing application scenarios, we need to make the following rules adjustments: From October 12, 2016, Alipay will charge a certain proportion of service fees for individual users to withdraw cash exceeding the free amount. Each individual user will enjoy a basic free cash withdrawal amount of RMB 20,000 per person; after exceeding the basic free amount, a service fee will be charged at 0.1% of the cash withdrawal amount. If the single service fee is less than 0.1 yuan, it will be charged at 0.1 yuan. After using up the basic free amount, you can also use Ant points to redeem more free cash withdrawal amounts.

　　What you need to know is that the transfer of funds from Yu'ebao, including transferring to your bank card and transferring to Alipay, will continue to be free. You use Alipay to consume, manage finance, buy insurance, recharge your mobile phone, pay water, electricity, coal payment, registration, and pay transportation fines. You use Alipay to transfer money to your Alipay account and repayment services to your Alipay account and repayment services. At the same time, using most of the above services can also get feedback from Ant points, which can be used to redeem free cash withdrawal limit.

　　In addition, Alipay contracted merchants (including Taobao and Tmall sellers) will continue to use the "withdrawal" product to transfer funds in Alipay's balance to their own bank card for free.

　　This is not an easy decision, nor does it mean that Alipay will make money from now on. However, all services need to be based on sustainable resources and strive to support them in violation of objective business laws. We admit the difficulties and fully understand your confusion or disappointment. But charging also means greater responsibility and higher service standards to us. We will continue to motivate ourselves to make continuous progress as always. We look forward to gaining your understanding and support with better service.

　　Alipay knows how to pay.

　　Regarding the adjustment of some service rules, some questions you may be concerned about are answered as follows:

　　1. First of all, is it affected if the money transferred from my Yu'e Bao to my bank card?

　　The transfer of Yu'ebao funds, including transferring to your bank card and transferring to Alipay, is still free.

　　2. What is the scope of cash withdrawal charges involved in this rule adjustment? In addition to cash withdrawal, are Alipay’s other services charged?

　　Alipay cash withdrawal refers to the behavior of users transferring funds to bank cards through Alipay, which only involves two specific products: "withdrawal" and "transfer to bank cards".

　　You use Alipay to consume, manage finance, buy insurance, recharge your mobile phone, pay water, electricity, coal, register, and pay transportation fines. You will not adjust the rules for transferring money to Alipay accounts and repayment services using Alipay mobile phone. You will continue to be free. The balance of Yu'ebao funds transferred to your bank card and to Alipay is still free. At the same time, using most of the above services can also get feedback from Ant points, which can be used to redeem free cash withdrawal limit.

　　3. Alipay withdrawal has been free for so many years. When your colleagues started charging, you all held on. Why are you now starting to charge?

　　While providing more and more convenient and secure services, the comprehensive operating costs borne by Alipay are also rising rapidly. This adjustment to the withdrawal rules is to reduce some cost pressure and ensure that we can provide you with more high-quality services in a sustainable and healthy manner.

　　4. Since it is because of cost reasons, why choose to charge cash withdrawals instead of charging them in other links?

　　Recall that you use Alipay to pay for consumption, financial management, insurance purchase, mobile phone recharge, water, electricity, coal payment, repayment, etc., much more frequently than withdrawals. If you charge in the payment process, you may be more affected. If you choose to only charge for withdrawals that exceed the free amount, you will be less affected.

　　5. The cumulative free withdrawal amount given by other platforms is 1,000 yuan. Why is the basic free amount you provide 20,000 yuan?

　　Although Alipay faces great cost pressure, we will still do our best to provide you with a higher free amount.

　　6. If I use up the basic free withdrawal amount of 20,000 yuan, is there no other free way?

　　After the basic free withdrawal amount of RMB 20,000 is used up, you can also use Ant points to exchange for the free amount. Please rest assured that using Ant Points to exchange for free credit will not reduce your Ant Membership Level.

　　7. The transfer of Yu'e Bao to my bank card will continue to be free. Can I transfer the money in my balance to Yu'e Bao first, and then transfer it to my bank card?

　　Starting from October 12, 2016, the funds you newly transferred from the balance to Yu'ebao can only be transferred back to the balance when transferring it out, and cannot be transferred directly to the bank card. Of course, the funds transferred from the balance to Yu'ebao can be used to directly consume and pay at any time, and there is no change in this.

　　8. I am a Taobao seller. I have so much account flow every day. What should I do if I withdraw money and charge my bank card?

　　Don't worry, no charges. Taobao Tmall seller, Taobao auction seller, Taobao home seller, village Taobao partner, Taobao helper, village partner, 1688 seller, Aliexpress seller, Alipay valid contracted merchant, certified Alipay enterprise account and China Development Bank student loan account (loan status has not been paid off), transferring funds in Alipay balance to your own bank card through the "cash withdrawal" product is still free.

　　9. If you withdraw cash in the future, what should you do if the money placed in Alipay?

　　Alipay covers almost all online shopping websites in China and supports public service payments in hundreds of cities. In recent years, Alipay has also entered many industries such as supermarkets, convenience stores, catering, department stores, hospitals, hotels, and travel. There are now more than 1 million catering merchants and supermarkets and convenience stores nationwide, more than 10 million online car-hailing vehicles that support Alipay, and more than 2,000 hospitals that support Alipay registration. All payments with Alipay in these places are free.

　　If you don’t want to spend it, your money can also be used to buy Yu'ebao, regular financial management, buy funds, buy insurance, etc., and you can get more benefits and protection.

　　10. Cash withdrawals exceeding the free amount will be charged. What should I do if I want to transfer money to someone else’s bank card in the future?

　　If you want to make a particularly large amount of money transfer to your bank card, we recommend that you choose some online banking that provides free transfers, etc. If you want to operate more conveniently, you are welcome to continue using Alipay to transfer money to your bank card service.