Why do WeChat payment accounts require real names and have change limits? Official Science

Compared with paper money, online payment does not need to worry about damage, water damage, change and other issues, making life more convenient and faster. But with it comes more usage rules and precautions.

Why do WeChat payment accounts require real-name registration? Are there limits on account change? WeChat officials have provided some information today.

Why do we need real-name registration?

Pursuant to the Measures for the Administration of Internet Payment Business of Non-Bank Payment Institutions, when a payment institution opens a payment account for a customer, it shall implement real-name management for the customer, register and take effective measures to verify the customer's basic identity information.

Verify valid identity documents in accordance with regulations and retain a copy or photocopy of the valid identity documents, establish a unique customer identification code, and take continuous identity identification measures during the period of the business relationship with the customer to ensure effective verification of the customer's identity and their true intentions. Anonymous or pseudonymous payment accounts shall not be opened.

Real-name system precautions

1. Please use your real ID to open a payment account, register your basic identity information (such as name, nationality, gender, occupation, address, contact information, and the type, number and validity period of your valid ID) and keep a copy or photocopy of your valid ID;

2. If your basic identity information is missing or your ID is expired, the system will remind you. Please follow the prompts to complete or update your personal information in time. Otherwise, some payment services (such as cash withdrawal, collection, payment, limit and other functions) may be restricted, affecting the use of your account.

Payment account change limit?

In accordance with regulatory requirements, personal payment accounts are classified and managed, and divided into Class I, Class II, and Class III accounts based on the method and channels of user real-name verification.

Among them, only Class III accounts with the highest real-name verification strength can use the balance to purchase financial products such as investment and wealth management to ensure the safety of customer funds.

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Tips on using change

1. The above-mentioned classification method, payment functions and transaction limit management measures are only applicable to payment accounts. Customers who use bank accounts to pay (such as bank gateway payment, bank card quick payment, etc.) are not subject to the above-mentioned functions and limits.

2. After reaching the annual payment limit for change, you can complete the payment by bank card. Payment by bank card will be calculated based on the bank card spending limit, which varies from bank to bank.

WeChat Pay - Self-service limit query method for bound bank cards: Go to [Me] -> [Service] -> [Wallet] -> [Bank Card] -> Select the bank card you want to view, and you can view the payment limit of the bank card.

QQ Wallet - Self-service limit query method for bound bank cards: Go to [My QQ Wallet] -> [Balance] -> [My Bank Card] -> Select the bank card you want to view, and you can view the payment limit of the bank card.