Feb 17, 2016 05:52 PM

WeChat to Charge Users for Money Transfers from Accounts

(Beijing) – Tencent Holdings Ltd. has announced it will charge users of WeChat a fee to transfer money out of their accounts on the popular messaging app so it can pays banks for the transactions.

However, one analyst said the move is an attempt to stop funds from flowing out of WeChat accounts so that Tencent can have more money to invest in lucrative wealth management products.

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