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China
| Type | Description |
|---|---|
| Cash-out Method |
Direct credit to bank account link with Alipay in Chinese Yuan / Renminbi (CNY)
Supported sender type - Individual Supported beneficiary type – Individual |
| Transaction Turnaround Time |
Real-time: 24x7 (within 15 minutes)
Subjected to Singapore office timing and funds being received |
| Area availability | China nationwide |
| Validation / Verification | Beneficiary name must be in PINYIN (Romanized Chinese) |
| Amount received | Beneficiary received net amount as specified by sender |
| Transaction Limit |
Family Support / Salary Transfer
Maximum per transaction CNY 50,000.00 Minimum per transaction CNY 1.00 Maximum per calendar year CNY 500,000.00 Maximum transactions per month 5 Goods Payment Maximum per transaction CNY 50,000.00 Minimum per transaction CNY 1.00 Maximum per calendar year CNY 600,000.00 Service Payment Maximum per transaction CNY 50,000.00 Minimum per transaction CNY 1.00 Maximum per calendar year CNY 300,000.00 Compliance accumulated limit CNY 50,000.00 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 |
| Cancellation Process | Cancellation is on best effort basis |
| Remarks |
Account number for Alipay user is either Registered China mobile number or registered email address
Beneficiary must have a valid China government issued ID Beneficiary is required to bind a default bank account from Alipay APP First time receiver required to bind / select card within 24 hours of the transactions, else transactions will be rejected Relationship has be the family related, else transaction will get reject when Alipay conduct risk check |