Online merchant banking business adjustment: Gradually suspend Alipay cash withdrawal from April 21- E-commerce- Payment / Fintech

April 18 news, a few days ago,MYbank issued the “Announcement on Business Adjustment and Welfare Fund Upgrade Related to MYBank Class II Accounts”.The announcement said,From April 21, 2022, MYbank will gradually suspend the business related to Alipay cash withdrawal or transfer to MYBank Class II accounts.At the same time, the type II account of MYbank will only support the transfer of the bound bank account by myself.


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It is reported that during the epidemic, MYbank supports the transfer of bank accounts (supported by myself and others), with no limit on the amount. At present, the Alipay account balance transfer can be directly operated on the MYbank applet, and the transfer limit is 10,000/day and 100,000/year, which is subject to the page display.

According to relevant regulations, the current account of MYbank will no longer support the transfer of funds from “Alipay balance”, and users can transfer funds by remittance from other banks or to others.

According to reports, MYbank officially opened on June 25, 2015. It is one of the first private banks in China initiated by Ant Group and approved by the China Banking Regulatory Commission.It is also the first technology bank to build its core system on the financial cloud. It has no offline outlets and provides services to users through the Internet.


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