How to calculate the cash withdrawal fee and interest of Bank of Communications credit card?
Today (November 1), on the official website of Bank of Communications, new users can enjoy a 100 yuan credit card bonus after successfully applying for a card. The discounts attract many people to apply. So, do you know how Bank of Communications credit card cash withdrawal fees and interest are charged?
1. Bank of Communications credit card cash withdrawal fee charging standards
1. For domestic RMB cash withdrawals, 1% of the transaction amount will be charged, with a minimum of RMB10 per transaction (Y-POWER credit card, Tianya Mingyue Domestic RMB cash withdrawals with credit cards are RMB 5 per transaction);
2. Overseas cash withdrawals through UnionPay network are charged RMB 12 per transaction, plus 1 of the transaction amount, with a minimum of RMB 15 per transaction;
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3. When withdrawing cash through the VISA/MasterCard network overseas, 1% of the transaction amount will be charged, with a minimum of US$5 per transaction.
2. Interest rate charging standards for Bank of Communications credit card cash withdrawals
Overdraft withdrawals or transfers do not enjoy interest-free repayment treatment, and the rate is 3.5% to 0.5% per day. The overdraft interest on the amount used is paid at a floating interest rate (quasi-credit Kapka is an interest rate of 5/10,000) from the bank's accounting date to the day before the repayment is recorded.
Although the bonus for new Bank of Communications credit card users is very attractive, you might as well first understand how cash withdrawal fees and interest are calculated. Introduction,
You can quickly apply for various Bank of Communications credit cards, officially authorized, safe and reliable!
If I withdraw RMB 10,000 with a Bank of Communications credit card, how much interest will I pay in a month?
If you withdraw RMB 10,000 in cash with a Bank of Communications credit card, you will be charged an overdraft interest rate of 0.5/10,000 per day from the date of withdrawal until it is paid off. The handling fee is 1 to 100 yuan, with interest of 0.05% per day, 5 yuan per day, and about 250 yuan per month. Bank credit card cash withdrawal methods, domestic: You can withdraw cash at Bank of China branches, ATMs, or other businesses with the UnionPay logo. The bank's ATM machine can withdraw RMB cash with the withdrawal password. , Overseas: You can withdraw local legal currency and conduct cash advance transactions at any ATM around the world with the PLUS, CIRRUS or UnionPay logo.
What are the interest rates and repayment terms for Bank of Communications credit card cash withdrawals?
The interest for cash withdrawals with Bank of Communications credit cards is calculated at a daily interest rate of 5/10000 yuan. For 1,000 yuan, it is 0.5 yuan per day.
There is no interest-free period for cash withdrawals. If possible, you should do it as soon as possible Return, the repayment period is the last repayment date indicated on the bill. After this date, if you fail to pay even the minimum repayment amount, late payment fees will be incurred and your personal credit record will be affected.
The bill date is the 8th, and the final repayment date is the 8th and 25 days later, the 2nd or 3rd of the next month. For example, if you withdraw cash on July 25, the bill will be issued on August 8, because there are 31 days, so the final payment date will be September 2.
Personal credit record is very important. If you leave a bad record, it will affect your future loans, credit cards and other businesses. Therefore, at least the minimum payment must be paid before September 2.
The principal is 1,000 yuan, and the interest is 0.5 yuan per day. You can count the days yourself, plus a cash withdrawal fee of 10 yuan. If it passes September 2, a late payment fee of 10 yuan is added, and that’s it. .
How to calculate the interest of 3,000 for Bank of Communications credit card cash withdrawal
Bank of Communications’ cash withdrawal interest is calculated daily at a daily interest rate of 5/10,000 from the day of withdrawal until the full amount is reached. Compound interest will be calculated on a daily basis until the cash withdrawal amount, cash withdrawal fees and cash withdrawal interest are paid off.
Assuming that card friend Xiaobai holds a Bank of Communications credit card, the statement date is the 6th of each month, and the final repayment date is the 26th of each month.
On November 12, she withdrew 3,000 yuan in cash from our bank's ATM;
If Xiaobai repays the transaction on December 21, the amount she needs to repay is 3,090 yuan, and the calculation method is as follows:
Handling fee: 30001=30 yuan;
Cyclic interest: 30000.0540 (number of days from accounting date to repayment date)=60 yuan.
Extended information
Bank of Communications’ credit card products are named after “Pacific”, such as: Pacific Dual Currency Credit Card, Pacific Y-power Credit Card, Bank of Communications Pacific Walmart Credit Card, Bank of Communications Pacific Suning Electronic credit card, Bank of Communications Hong Kong New World Department Store credit card and Pacific Business Card, etc.
Platinum Credit Card
Bank of Communications Platinum Credit Card provides you with a full range of business travel or family travel services, covering airport VIP lounges, alcohol-based driving, roadside assistance, and high-income families Comprehensive travel protection and many other exclusive services provide you with a platinum life experience.
Standard Credit Card
Bank of Communications Standard Credit Card provides complete credit card financial services, password signature, free choice, interest-free repayment period up to 56 days, and a "privileged life" ”, “Exclusive Advantages” and many other preferential plans allow you to enjoy the endless fun of swiping your card.
Y-POWER Credit Card
Y-POWER has two unique card surface designs: Force Black and Vibrant White, allowing you to choose your attitude and show off your excellence. Y-POWER gives you strong backing, and strong strength comes from the heart!
Hong Kong New World Department Store Credit Card
Bank of Communications Hong Kong New World Department Store Credit Card is a co-branded card jointly launched by Bank of Communications and Hong Kong New World Department Store, including gold cards and regular cards.
Bank of Communications Jinjiang Star Card
Bank of Communications Jinjiang Star Credit Card is jointly designed by Bank of Communications and Jinjiang Inn Hotel Co., Ltd. It is suitable for the majority of business travelers and families traveling independently. A credit card tailor-made for travel enthusiasts.
TESCO Credit Card
Bank of Communications has joined hands with Tesco to present you the new Bank of Communications Tesco Credit Card.
Suning Appliance Credit Card
Bank of Communications Pacific Suning Appliance Credit Card is a joint credit card jointly issued by Bank of Communications and Suning Appliance***.
In addition, Bank of Communications credit cards also have the following card types: Bank of Communications Chengdu Credit Card, Shanghai Travel Credit Card, MORE Card, Business Card, Bank of Communications Installment Credit Card, Bailian OK Credit Card, Liqun Credit Card, Bank of Communications Pinghetang Credit Card, Jinling Lifestyle Credit Card, Bailian Oriental Credit Card, Kai Tai Department Store Credit Card, Aviation Secretary Credit Card, Asia Miles Credit Card, Haagen-Dazs Credit Card, Yongda Auto Credit Card, Self-Mail Credit Card, BBK Credit Card, etc.