How to Do Money Transfer in WeChat Accounts?

WeChat is the one of the popular payment channels in China along with Alipay. It is the most suitable option for expats and foreigners in China as creating WeChat account does not require the ID card. Also WeChat payment is commonly accepted  from the road side vendor to big shopping malls, making the life easier. Besides vendor payments, you can also easily transfer money from your WeChat account to any of your friend’s account. For example, when your Chinese friend pay money for you at the restaurant, you can instantly transfer the amount using WeChat.

In this article let us explain the step by step process of transferring money to another WeChat account.

What You Need for Money Transfer?

Before doing money transfer you should have the followings:

• Your own WeChat account. You can download and install WeChat app from any of the mobile app stores.
• The receiver is added in your account as a friend.
• You have added a payment method using your bank card or have sufficient balance in your WeChat balance.

How to Do Money Transfer in WeChat Accounts?

Now let us go through the step by step process.

• First open your WeChat app and choose the friend you want to send money under “Chats” section.

Select the Person for Money Transfer

• Once the receiver is selected, tap on the + button next to the input box.
• You will see multiple options and tap on the “Transfer” button.

Touch Transfer Button in WeChat

• On the next screen, enter the amount to be transferred to the selected person.
• You can also enter a note for the receiver to understand the purpose of the money transfer.
• In our example, we enter 6000 RMB and add a note “Insurance”.
• Finally tap on the “Transfer” button.

Enter Amount for WeChat Transfer

• WeChat will automatically select the payment mode based on the available balance. If you have sufficient balance then the WeChat balance will be used for payment. Otherwise the connected bank card will be used for the payment.

Change Payment Mode

• If you have multiple cards or want to add a new payment card then touch the payment option as shown in the above picture.
• You will be seeing all the connected bank cards along with the WeChat balance and the option to add a new card.

Choose Payment Method

• Once the payment mode is finalized, authorize the payment using touch id or password.

Authorize Payment in WeChat

• Now that the money is transferred from your side and you will see a message in the chat section like below. You can tap on the message to view details of the transfer.

Amount Transferred Message

• Once the money transfer is accepted, you as a sender will receive a confirmation message. The previous message will also be changed from the transfer symbol to the tick mark with the “Accepted” word.

Payment Accepted Message

• You can tap on any of the messages to see more details on the time of receipt.

Accepting Money At Receiver Side

• The sender will instantly receive the message on money transfer in his / her WeChat account. The note message entered by you will be shown in the message (we have entered a note “insurance”).

Money Transfer Message at Receiver Side

• He / she can tap on the message and accept the money to transfer.

Receiver Accepts the Amount

• The amount transferred will be added to the receiver’s WeChat balance. Receiver can withdraw the balance to the bank card from WeChat balance.

Important Points on WeChat Money Transfer

Well, WeChat enables a very simple way to transfer money but remember the followings before sending money to any unknown person.

• There is no way to stop the money transfer once it is sent. Even the receiver can’t reject the transfer.
• The transfer will be in waiting for acceptance status for 24 hours from the time of sent.
• If the receiver not accepted the transfer within 24 hours then the transfer will be cancelled. The amount will be sent back to the sender’s WeChat account.
• There will no separate receipt or invoice (called fapiao in Chinese) issued for WeChat transfers. So only use money transfer within your informal friends circle. When you need a fapiao, pay through appropriate channel with the proof.
• Avoid using money transfer to personal accounts on shopping malls. Instead show your vendor payment bar code / QR code so that the cashier can scan with the scanner. Your vendor payment code can be seen by tapping “Me > Wallet > Money”. You can also find the vendor code quickly by tapping the + button on the top right corner of the WeChat app and then tapping “Money” option.