Shanghai's 132 banks and 45 payment institutions have fully implemented the fee reduction policy in the field of payment

Per reporter: Li Yuwen Per editor: Liao Dan

On November 9, every reporter learned from the Shanghai headquarters of the People's Bank of China that as of the end of October, 132 banks and 45 payment institutions in Shanghai had fully implemented the fee reduction policy in the field of payment. Banks have reduced payment fees by 190 million yuan, benefiting 1.12 million small and micro enterprises and individual industrial and commercial households this year; payment institutions have reduced payment service fees by 1.186 billion yuan, benefiting 8.0648 million merchants.

It is understood that the payment fee reduction mainly covers bank account services, payment account services, RMB settlement, electronic banking, bank card swipes and other payment areas with high frequency and strong corporate demands. The specific policies mainly include six items:

The first is the bank account service fee. Small and micro enterprises and individual industrial and commercial households are exempted from all unit settlement account management fees (including small account management fees) and annual fees.

The second is to pay the account service fee. The handling fee of the online payment merchant is not higher than 10% off, and the payment account withdrawal fee is waived.

The third is the RMB transfer remittance fee. For a single transaction of 100,000 yuan (inclusive) or less, the inter-bank transfer remittance business shall be charged at a 10% discount of not higher than the current government guidance price standard. The fee is waived for the transfer and remittance business of a single transaction of less than 100,000 yuan (inclusive).

The fourth is the fee for part of the bill business. Cancellation of the collection of check cost fees, reporting loss fees, as well as handling fees, work costs, and reporting loss fees for promissory notes and bank drafts.

Fifth, electronic banking fees. Encourage halving or waiving the annual fees and handling fees for online banking, mobile banking, phone banking and security authentication tools.

Sixth, the card swiping fee. The fee and network service fee of the debit card issuer of the standard merchants shall be discounted by 10% on the basis of the current government guidance price; the service fee and network service fee of the card issuer of the preferential merchant shall be discounted by 2.8% on the basis of the current government guidance price.

At the same time, the Shanghai headquarters of the People's Bank of China organized banks and payment institutions under its jurisdiction to sort out the payment fee charges in accordance with the requirements of fee reduction, and carried out self-examination of disguised charges and hidden charges in the process of bank card use, and once problems were found, they were checked and changed to ensure that the self-inspection work was timely and effective. In the process of investigation, many banks such as China Construction Bank Shanghai Branch and Bank of China Shanghai Branch actively investigated the mischarging and overcharging in the bank, and have refunded 33,400 yuan of handling fees paid by 3 small and micro enterprises.

It is reported that under the guidance of the Shanghai headquarters of the People's Bank of China, on the basis of implementing the fee reduction policy, banks have taken the initiative to increase the scope of fee reduction, simplify the refund process, expand the policy benefits, and effectively reduce costs and burdens for small and micro enterprises and individual industrial and commercial households. According to Alipay's preliminary calculations, it is expected that the annual fee reduction and profit amount can exceed 4 billion yuan by reducing the two fees of small and micro merchants' network payment service fees and merchant withdrawal fees. The reduction of credit collection service fees and debit collection service fees will benefit 3 million market entities of various types, the vast majority of which are small and micro enterprises, individual industrial and commercial households and individuals with business activities, and it is expected to make profits of about 2 billion yuan per year.

The Shanghai headquarters of the People's Bank of China said that under the guidance of the head office, it will continue to supervise and urge financial institutions under its jurisdiction to effectively implement the policy of fee reduction and profit concession, and ensure that the dividends of the fee reduction policy will fully benefit market entities through various forms such as overt inspection, secret visits, and interviews.

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