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A famous Chinese magazine called My Money, has recently published an article telling its readers how to save money on bank remittance fees by using China's leading third-party payment provider - Alipay. While usual remittance fees in China amount to around 1% of funds transfered, using Alipay allows bank account holders to save significant sums. My Money suggests using the following method: - Open two separate Alipay accounts and link them to your bank accounts
- Transfer money from bank account A to Alipay account A: free
- Transfer money from Alipay account A to Alipay account B: free
- Transfer money from Alipay account B to bank account B: free
The writer then goes on to sum up the total cost of using Alipay to remit funds between bank accounts:
free+free+free=free. To read more (in Chinese) about saving money on remittance fees visit the original article here. |
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