The following are the differences between BOC dual-currency cards and full-currency cards:
Dual-currency cards refer to credit cards with both RMB accounts and foreign currency accounts. Generally, there is a "UnionPay" logo on the upper right side of the front of the card, and a VISA, JCB or MasterCard logo on the lower right side. Now, VISA or MasterCard dual-currency credit cards can be used in more than 200 countries, which makes it more convenient to find consumer merchants.
When a dual-currency credit card is used for domestic consumption, RMB settlement is used. If the card is used abroad, it will automatically enter the foreign currency settlement system. Depending on the type of card, it will first be converted into U.S. dollars or euros. If it is not U.S. dollars or Consumption in euros will be converted into the local currency for settlement, and it will be converted again when repaying the money. Because of the currency conversion, a fee of 1% to 2% will be charged. When you come back to repay, you still need to perform an exchange first, and another currency conversion fee will be incurred.
The main function of all currencies is to waive currency conversion fees and handle transaction needs in all currencies. No matter which country or place you spend, you can repay the money directly in RMB after returning home, eliminating the need to purchase foreign exchange. In addition, banks' all-currency international cards generally come with high-value travel accident insurance.
Extended information:
Bank of China’s all-currency international chip card is a credit card product carefully designed for people with outbound payment needs. It adopts the internationally accepted EMV chip standard and has interest-bearing features on deposits. , revolving credit, installment payment, automatic purchase of RMB foreign exchange for global transactions and other financial functions, as well as preferential and convenient value-for-money benefits, allowing you to travel around the world with one card in hand.
The full-currency international chip card is a chip card product that complies with EMV standards. It uses a chip and magnetic stripe composite card to support interest-bearing deposits and interest-free periods for overdrafts. The main and additional card bills can be merged and repaid in a unified manner. Support accessory card flow control. Personal transaction SMS reminders and colorful electronic bills. ?
Reference material: Bank of China credit card products