Text: No. Direct overdraft transfer by credit card is not allowed. If you want to transfer money, you can only use these two methods: withdraw cash from the overpayment or withdraw cash from the credit card and then transfer it; apply for cash loan business with the bank. After the bank passes the review, it will transfer a certain amount into the savings card you provided. If the transfer is through overpayment, it is equivalent to withdrawal. The bank charges a handling fee of 0.5% to 2%, and there is no interest. If there is no overpayment in the credit card, it can only be transferred through cash advance.
1. In real life, the cash withdrawal operation of a credit card needs to be different from the cash-out operation of a credit card. The so-called cash-out refers to the process in which credit card holders use some means to bypass the bank's normal withdrawal procedures and convert consumption funds into cash in the name of swiping the card. With cash out, cardholders can withdraw cash from their credit card without paying fees to the bank. We know that most credit cards have a cash withdrawal function, so what is the difference between cash withdrawal and ordinary withdrawal? Why don't cardholders directly withdraw cash instead of going through a lot of trouble and even risking violating the law to cash out? This is because normal ATM or bank counter cash withdrawals require payment of handling fees and interest, and the general credit card cash withdrawal limit is only 30%-50% or even less of the credit overdraft amount. By cashing out, cardholders can bypass the bank's cash withdrawal charges and obtain an interest-free loan in disguise. At the same time, they can also enjoy the interest-free period, minimum repayment amount, points and other preferential measures established by the bank for card consumption.
2. The fixed functions of the credit card itself include credit card cash withdrawal, so the credit card holder can directly bring the credit card to the bank to withdraw cash. On the contrary, cashing out by credit card is not supported by banks. If the user is judged by the bank to be maliciously cashing out the credit card, the bank will reduce its credit limit. Generally speaking, in actual economic life, there are two forms of credit card cash withdrawal operations: overdraft cash withdrawal and overpayment cash withdrawal. The main difference between the two is whether relevant interest needs to be paid, and this is based on the bank's regulations. Depends on different needs.
3.: The "Credit Card Business Management Measures" promulgated and implemented by the People's Bank of China clearly stipulates that cardholders are not allowed to use credit cards to withdraw cash and malicious overdrafts; the "Bank Card Business Management Measures" stipulate Anyone who uses bank cards and their equipment to defraud bank funds will be dealt with in accordance with the "Criminal Law of the People's Republic of China" and relevant regulations; the "Notice on Issues Related to Preventing Credit Card Risks" issued by the People's Bank of China and the China Banking Regulatory Commission clearly stipulates It is illegal for cardholders to cash out and for merchants to provide cash-out services. Judging from the just-passed Anti-Money Laundering Law and Bank Card Management Regulations, credit card arbitrage will be further regulated.