Yes.
In August 2016, Alliance Bank announced that inter-bank transfers through electronic channels such as mobile banking and personal online banking would be free of customer fees. Including China CITIC Bank, China Merchants Bank, Shanghai Pudong Development Bank, China Everbright Bank, Hua Xia Bank, China Minsheng Bank, China Guangfa Bank, Industrial Bank, Ping An Bank, Hengfeng Bank, Zheshang Bank, and Bohai Bank.
The "Commercial Bank Internet Finance Alliance" jointly launched by 12 national joint-stock commercial banks signed a cooperation agreement on commercial bank account interconnection in Beijing.
The five major state-owned banks, Bank of China, Agricultural Bank of China, Industrial and Commercial Bank of China, China Construction Bank and Bank of Communications, also collectively announced that mobile banking transfer fees will be waived. However, for online transfers, the five major banks stipulate that no handling fee will be charged for a single transaction of less than 5,000 yuan.
Extended information:
Relevant people said that for many users, they may be accustomed to using Alipay or WeChat for small-amount transfers, but they are still inseparable from large-amount transfers. Online banking or mobile banking. As more banks join the ranks of free transfers, more traditional business fees may also face reductions or exemptions in the future.
Mr. Chen runs a small hardware processing factory in Yongkang, Jinhua. The company's purchase and shipment of funds involving more than 5,000 yuan are all done through bank transfers. Because the bank card used by the customer is not consistent, a certain transfer fee must be paid every time. Although most transactions only charge 1% of the transfer amount, with a maximum of no more than 50 yuan, due to the frequent transactions, the total amount is still a large sum.
Today, 12 banks have formed an alliance, including other banks that have announced that inter-bank transfers are free, and inter-bank transfers are basically free of charge, which provides great convenience and benefits to enterprises.
People's Daily Online - Inter-bank transfers will be free of charge in the future