Multiple banks announce: Daily limit increased!

The payment limits for banks in consumer scenarios have been increased.

Recently, Bank of Communications announced on its official website that starting from November 18, the quick payment limit for its debit cards in the Alipay consumption scenario will be raised to a single transaction limit of 200,000 yuan, a daily cumulative limit of 200,000 yuan, and a monthly cumulative limit of 6 million yuan.

Previously, the quick payment limit for Bank of Communications debit cards in the Alipay consumption scenario was a single transaction limit of 50,000 yuan, a daily cumulative limit of 100,000 yuan, and a monthly cumulative limit of 600,000 yuan.

The previous adjustments represented increases of 4 times, 2 times, and 10 times, respectively.

However, the limits for other scenarios such as Alipay transfers, wealth management, and repayments will continue to maintain the current limit standards, which are a single transaction limit of 50,000 yuan, a daily cumulative limit of 100,000 yuan, and a monthly cumulative limit of 600,000 yuan.

This adjustment is not the first in the industry. As early as July 18, China Postal Savings Bank announced an adjustment to the transaction limits for its debit cards in the Tenpay (WeChat Pay) scenario, with the adjusted limits set at a single transaction limit of 40,000 yuan, a daily limit of 80,000 yuan, and a monthly cumulative limit of 600,000 yuan. Similarly, China Merchants Bank also announced on October 10 that it would raise the quick payment limit for its debit cards in the Alipay consumption scenario to 200,000 yuan for both daily and single transactions.

Observing these adjustments, it can be seen that the limit increase measures of Bank of Communications and China Merchants Bank are mainly targeted at the Alipay platform, while Postal Savings Bank has increased limits for the WeChat Pay platform.

With the rapid development of online payments, WeChat and Alipay, as the two leading payment platforms, have prompted banks to raise payment limits on these platforms to further stimulate consumer vitality.

However, while increasing payment limits, the acceleration of fund flow may also pose challenges to the daily operations of banks. Banks need to find a balance between enhancing payment convenience and security, complying with regulatory requirements, controlling costs, and strengthening risk management.

Nevertheless, as more and more banks moderately raise payment limits, this will positively contribute to the development of the consumer market and benefit customers