|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.|
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: https://render.alipay.com/p/w/tutorial-pc/en-us.html
· 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:
|Do_Transfer bAccType Value||2|