What is MYBank Transfer and how do I set up the connection?

In this article:

1. What is MYBank Transfer and why should I connect？
2. What are the requirements to enable MYBank Transfer?
3. How do I enable MYBank Transfer?
4. What will prevent successful transfers?
5. How do I activate the eCommerce Collection Service on my MYBank account?
6. How do I create a new MYBank account?
7. How do I view my MYBank account details?

What is MYBank Transfer and why should I connect?

By enabling MYBank Transfer, Airwallex customers can seamlessly transfer any amount of Chinese Yuan (CNY) to their MYBank Type II personal account without being bound by daily or annual limits. Subsequently, you can benefit from the flexibility of withdrawing up to 500,000 CNY per day and up to 5,000,000 CNY per year to facilitate bulk purchases on 1688.

What are the requirements to enable MYBank Transfer?

Airwallex customers must complete the following steps to ensure a successful transfer to MYBank

1. Enabled CNY local payment method on your account
2. In Airwallex, authorise the sharing of your CNY transfer and sales order details with MYBank.
3. In Alipay mobile app, activate the eCommerce Collection Service on the recipient's MYBank account and confirm the activation in Airwallex

How do I enable MYBank Transfer?

1. Log into your Airwallex account.
2. Navigate to the "Account" section and select the "Connections" tab on the left-hand navigation bar
3. Find the "MYBank Transfer" connection tile.
   
   
   
   
   
   
4. Grant Airwallex permission to share your CNY transfer and sales order data with MYBank.
   
   
   
   
5. Create an Airwallex recipient with MYBank account details. Note that you can only transfer to MYBank accounts owned by a UBO of your Airwallex account.
   
   
   
   
6. Please ensure that you have activated the eCommerce Collection Service on your MYBank account. You can scan the QR code to validate your service activation or activate the service if you haven't done so already. We will require you to confirm the service activation to be able to create a transfer.
   
   
   
   
7. Upon confirming the activation of the service, you can initiate a transfer to the newly created MYBank recipient.
   
   
   
   
8. While you have the option to confirm service activation at a later time, please be aware that you won't be able to initiate a transfer to this recipient until the activation is confirmed.
   
   
   
   
9. On the MYBank Transfer homepage, you can conveniently check the list of all your MYBank recipients and their respective eCommerce Collection Service activation statuses.
   
   

What will prevent successful transfers?

Here's what to watch out for:

1. Data sharing is unauthorised: MYBank requires Airwallex to share CNY local transfer and sales order data for each CNY local transfer. You will not be able to create a transfer if data sharing is unauthorised.
   
   
2. eCommerce Collection Service activation is not confirmed: Transfer is only permissible to MYBank accounts that have eCommerce Collection Service activated. Please ensure you have activated the service using the Alipay app and confirm your activation status in Airwallex to make a transfer. 

How do I activate the eCommerce Collection Service on my MYBank account?

1. Open Alipay, and click on "Scan" in the homepage.
   
   
   
   
2. Click "Activate eCommerce Collection Service".
   
   
   
   
3. Enter your Alipay payment password.
   
   
   
   
4. You have successfully activated the eCommerce Collection Service on your MYBank account. Note If the eCommerce Collection Service has already been activated on your account, you will see the following screen directly.
   
   

How do I create a new MYBank account?

1. Open Alipay, and click on the "Me" option in the lower right corner.
2. Select "MYBank" from the list.
   
   
   
   
3. Once in the MYBank interface, click on the "Me" option in the lower right corner.
   
   
   
   
4. Click on "Open MYBank Account" to complete the process.
   
   

How do I view my MYBank account details?

1. Open Alipay, and click on the "Me" option in the lower right corner.
2. Select "MYBank" from the list.
   
   
   
   
3. Click "View account" on the top right corner to view your bank account details.