Beijing-based exchange YUNBI has announced an adjustment to its Chinese renminbi (CNY) withdrawal fees starting as of 18:00, March 9th, 2017.
After adjustment, YUNBI will charge a fee for CNY withdrawal of 0.1%, the minimum fee is 5 CNY for each withdrawal.
The max limit of one withdrawal request is 200k CNY (29,000 USD).
Just the other day the exchange halted BTC withdrawals joining other popular exchanges in the off and on Chinese regulation frenzy.
There are two ways to charge the withdrawal fee:
1. Users who have enough CNY left on their account, the withdrawal fee will be cut from the remaining balance.
2. If applying to withdraw all of the CNY on an account, the withdrawal fee will be cut before the money arrived on your bank account.
CNY Withdrawal Period and Waiting Time
The CNY withdrawal period is from 9:00 to 18:00, withdrawal request made other than this period will be confirmed the next day from 9:00.
In order to comply with new directives on AML regulation requirements, suspicious user withdrawals will be rejected says YUNBI. Normal withdrawal requests will need 2 hours to do AML verification. The entering time depends on bank transactions.
