The central bank and other four departments launched fee reduction measures, small and micro enterprises, etc., and another tens of billions of yuan in profit "red envelope"


　　ATM inter-bank cash withdrawal fees have been reduced

　　On June 25, the People's Bank of China, the China Banking Regulatory Commission, the National Development and Reform Commission and the State Administration for Market Supervision jointly launched fee reduction measures to further benefit the real economy, which will be officially implemented on September 30 this year.

According to preliminary calculations, after all the fee reduction measures are implemented, it is estimated that the annual fee for market players and the public will be reduced by about 24 billion yuan, of which more than 16 billion yuan will benefit small and micro enterprises and individual industrial and commercial households.

　　On the same day, the China Banking Association and the China Payment and Settlement Association jointly issued the "Proposal on Reducing the Handling Fees for Cross-bank Cash Withdrawal from Automated Teller Machines (ATM)" (hereinafter referred to as the "Proposal"), announcing that the standard for intra-city ATM cross-bank cash withdrawal fees will be lowered to The transaction fee does not exceed RMB 3.5; the variable fee charged based on a certain percentage of the withdrawal amount is cancelled, and the fixed fee is consistent with the same city business standard.

　　Text/Wang Chuhan Wenjing, All Media Reporter of Guangzhou Daily

　　It is estimated that the annual fee expenditure will be reduced by about 24 billion yuan

　　The central bank’s announcement stated that recently, based on a survey of nearly 50,000 small and micro enterprises and individual industrial and commercial households, the People’s Bank of China, in conjunction with the China Banking and Insurance Regulatory Commission, the National Development and Reform Commission, and the State Administration of Market Supervision, has focused on high demand for fee reduction and high frequency of use. For basic payment services, 12 fee reduction measures are proposed, covering 5 aspects including bank account services, RMB settlement, e-banking, bank card swiping, and payment account services.

　　Among them, the fee reduction measures involving government pricing and government guidance prices will be issued by the People’s Bank of China in conjunction with the China Banking and Insurance Regulatory Commission, the National Development and Reform Commission, and the State Administration for Market Regulation. The Notice) specifies specific requirements; it is a market-priced fee reduction measure. The People's Bank of China and the China Banking and Insurance Regulatory Commission shall guide relevant industry associations to give play to the role of industry self-discipline mechanisms, and encourage and guide commercial banks and payment institutions to increase benefits for enterprises and people.

　　The reporter sorted out and learned that the "Notice" clearly reduced the bank account service charges, lowered the RMB transfer and remittance fee, canceled some bill business fees, and lowered the bank card payment fee policy measures, including four policy measures to reduce the payment fee.

Among them, the bill business fee reduction period is long-term, and the remaining fee reduction measures have a preferential period of 3 years; bill business and bank card fee reduction targets are all customers (merchants), and the remaining fee reduction measures are small and micro enterprises and individual industrial and commercial households.

　　At the same time, the China Payment and Settlement Association and the China Banking Association issued the "Proposal on Reducing the Payment Fees for Small and Micro Enterprises and Individual Industrial and Commercial Households", which proposed that commercial banks should be encouraged to open bank accounts within three years from September 30 this year. Preferential treatment fees, RMB settlement service fees and e-banking service charges are implemented, and payment institutions are encouraged to implement preferential treatment or reduction or exemption measures for online payment merchant handling fees and payment account withdrawal handling fees.

　　The standard of intra-city ATM inter-bank cash withdrawal fee does not exceed RMB 3.5 per transaction

　　At the same time, on June 25, the China Payment and Settlement Association and the China Banking Association issued a "Proposal", calling on commercial banks, payment institutions and other payment industry entities to appropriately reduce the payment handling fees of small and micro enterprises and individual industrial and commercial households.

　　The reporter noted that this adjustment has reduced the handling fee for intra-city ATM inter-bank cash withdrawals to no more than 3.5 yuan per transaction; canceled the variable fee charged by a certain percentage of the withdrawal amount for inter-city cross-bank cash withdrawal, and the fixed fee is consistent with the same city business standard.

After the implementation of the "Proposal", ATM inter-bank cash withdrawal fees have been significantly reduced, with a drop of more than 10% for intra-city business, and a drop of more than 80% for large-amount inter-city business.

According to preliminary calculations, it is estimated that the scale of fee reduction and profit distribution is about 4 billion yuan per year.

　　In the next 3 years, Alipay's cash receipt code will continue to be free of charge

　　After the "Proposal" was released, Bank of China, Agricultural Bank of China, Industrial and Commercial Bank of China, Construction Bank, Bank of Communications, Postal Savings Bank, Tenpay, Alipay, etc. issued announcements in response.

For example, Alipay announced that in the next 3 years, cash-receiving code withdrawals will continue to be free; for small and micro businesses and individual businesses that meet the standards, the online payment service fee on the Alipay platform can enjoy a discount, and the discounted price will not be higher than the current standard 10% .

This fee reduction measure will be launched on September 30, 2021 at the latest, and will be valid until September 30, 2024.