Service specification

Cash-out Method Direct credit to bank account link with Alipay in Chinese Yuan / Renminbi (CNY).
Supported beneficiary account type – individual only.
Supported sender type - individual only.
Transaction Turnaround Time · Real-time: 24x7 (within 15 minutes)
Area availability China nationwide
Validation / Verification Beneficiary name must be in Roman Characters.
Account validation is available via API.
Amount received Beneficiary received net amount as specified by Sender.
Transaction Limit
Maximum per transactionCNY 50,000.00CNY 50,000.00CNY 50,000.00
Minimum per transactionCNY 1.00CNY 1.00CNY 1.00
Maximum per calendar yearCNY 500,000.00CNY 600,000.00CNY 300,000.00
Maximum transactions per month5N/AN/A

Compliance accumulated limit CNY 50,000 per day per Beneficiary

Transaction will be on hold for compliance review based on the supporting document should the sender or receiver has exceeded the compliance limit.
Maximum Beneficiary No restriction
Service Charge Transaction Fee will be refund If the transaction is Rejected.
Cancellation Process Cancellation is on best effort basis.
Remarks · Account number for Alipay user is either Registered China mobile number or Registered Email address.
· Only Individual sender and beneficiary is allowed.
· Beneficiary must have a valid China government issued ID.
· Beneficiary is required to bind a default bank account from Alipay APP.
· Purpose code that is not as per mention in above will be rejected as invalid purpose code (922).
· Process:
· First time receiver required to bind / select card within 24 hours of the transactions, else transactions will be rejected.
· Sender full Address is mandatory for KYC verification purpose.
. Relationship has be the family related, else transaction will get reject when Alipay conduct risk check.

. Acceptable purpose code are:
CategoryPurpose CodeDescription
FAMILY_SUPPORT or SALARY TRANSFER 13220 Goods and Services by Short Term Workers
14310Wages and Salaries in Cash
14320Wages and Salaries in Kind/Benefits Attributable to Employees
21220Worker's Remittances
GOODS_PAYMENT 132101001Goods (Fashion)
132101002Goods (Daily Supply and Cosmetics)
132101003Goods (Electronics)
132101004Goods (Toys)
SERVICE_PAYMENT 132102001Services (Interpretation)
132102002Services (Translation)
132102003Services (Human Resource)
132102004Services (Estate Agency)
132102005Services (Software Development)
132102006Services (Web Design or Development)
132102007Services (Tax)
132102008Services (Exhibition)
16771Legal Services
16772Accounting Services
16740Architectural, Engineering and Other Technical Services
16760Advertising, Market Research, and Public Opinion Polling Services
Do_Transfer bAccType Value 2

Supported e-wallet

NoNameIssuer Code