Attention! New Policy on Bank Account & Mobile Payment!
① Only one type Ⅲ bank account is allowed to be bound up with mobile payment account individually.
② Only one type Ⅱ account and 5 type Ⅲ bank accounts at most are allowed for individual.
③ The allowable account balance has been increased by 2,000RMB, and daily accumulative spending amount has been decreased by 2,000RMB.
According to PBC, since December 1, 2015, only one type I bank account is allowable for one person in one bank. And for those who have already owned the type I bank accounts, they should open type Ⅱ or Ⅲ bank accounts instead.
Generally, they are just like cashbox, wallet and coin case successively.
According to the latest notice of PBC, type II & III account should be opened via counter, online bank, mobile bank, direct bank and ATM with remote video of all banks in China within this year.
Moreover, there are alternative ways to open bank account ↓↓↓
The policy stipulates that each person is allowed to open only 5 type II or III accounts at most in the same bank.
And it is suggested that typeⅡ&Ⅲ account should be used to online payment and mobile payment, concerning daily consumption, paying bills and top up.
In accordance with PBC, account without transaction record for a half year will not be accessible to payment via electronic channel until the account is re-identified by the bank.
Phone number bound up with the account should be the same as the number registered in the identification card. That means, each phone number should be authenticated by only one real name.
POS machine, MPOS and MIS-POS are forbidden to be sold online. Further more, the location of payment via POS will be under strict supervision.
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