Cash or WeChat Wallet? Until now they were almost interchangeable, but pretty soon, WeChat Wallet will start charging nominal fees for some cash transactions.

The fees will be implemented for cash withdrawals once each user exceeds total withdrawals of RMB 1,000 in their account’s lifetime. Fees have not yet been set for the reincarnated.

The charge isn’t huge: a minimum of RMB 0.1 per transaction, and a total of 0.1 percent of the amount withdrawn. So if you’re taking out RMB 100, you’re charged only RMB 0.1, or RMB 1 on a withdrawal of RMB 1,000.

WeChat parent company Tencent said it is making the move to cover bank and other processing fees, not to generate revenue. Fees will not apply to cash-like functions, such as the popular hongbao function WeChat offers during Spring Festival.

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Photo: WeChat/Indian Express