Conclusion: Special attention should be paid to the repayment methods and fees after using a China Merchants Bank credit card for cash advance. The following is a detailed repayment guide:
After cash withdrawal, installments cannot be repaid with China Merchants Bank credit cards, and can only be repaid according to the minimum repayment amount. The calculation of the minimum repayment amount is based on the bill. Please check your credit card statement for the specific amount. In terms of interest, the cash advance will be charged at a daily interest rate of 5/10,000 from the date of cash withdrawal, and will accumulate daily until it is paid off in full, with monthly compound interest.
Repayment methods include: depositing at our bank’s ATMs, inter-bank ATM transfers, online banking, and mobile banking transfers. Transfers through WeChat Wallet or Alipay are free of charge. In terms of handling fees, domestic RMB cash withdrawals charge a minimum of 10 yuan per transaction, while overseas charges are a minimum of 30 yuan (a minimum of 5 yuan for overseas cash withdrawals with AE platinum and black gold cards).
In addition, the repayment limit within the issuing bank (over the counter, ATM, online banking, automatic transfer or telephone banking) will be restored immediately, and the funds will usually be processed on the same day and credited to the account. WeBank POS mobile phones can make repayments or transfers on the spot, but the arrival time may be slightly slower than other methods. When transferring money, please pay attention to the fees and arrival time. Online repayments such as UnionPay Online, Alipay, etc. have different arrival times and charging standards. Convenience store repayments are made through the Lakala terminal, with no handling fee but it will take 2-3 working days to arrive in the account.
Counter Express, Credit Pay Express, Repayment Express, etc. are other possible repayment channels, but they may also involve transfer fees. Be sure to understand their respective charging standards and arrival times to ensure timely repayment and avoid additional fees.
I hope this information can help you better manage your China Merchants Bank credit card cash advance repayments.