Currency conversion method for overseas non-UnionPay channel consumption with Bank of China credit card:

Example: Suppose you use a Bank of China credit card to make a Euro transaction overseas through non-UnionPay channels.

1. If your card has not activated the global currency single RMB settlement function.

(1) Currency conversion: International organizations will convert your Euro transactions into the currency corresponding to your credit card’s foreign currency account, and Bank of China will credit the amount in the currency corresponding to your credit card’s foreign currency account.

(2) Cross-border transaction currency exchange fee: VISA and MasterCard will charge a 1.5% cross-border transaction currency exchange fee, and JCB will charge a 1% cross-border transaction currency exchange fee.

(3) Repayment: You can repay directly in the transaction accounting currency (that is, the currency corresponding to your credit card foreign currency account). You can also go to the Bank of China counter to exchange the RMB in your hand into the transaction accounting currency and then deposit it into your credit card for repayment. The exchange rate is the Bank of China's foreign exchange selling price at the time of repayment. If it is not convenient for you to go to the Bank of China counter to repay, you can first pay off the current RMB bill balance and deposit an additional amount in RMB before purchasing foreign exchange for repayment. The exchange rate is the Bank of China foreign exchange selling price when purchasing foreign exchange.

2. The global currency single RMB settlement function has been activated.

(1) Currency conversion: Your Euro transaction will undergo two currency conversions. First, the international organization will convert the Euro you consume into the currency corresponding to your credit card’s foreign currency account. Since you have activated the global currency single RMB settlement function, Bank of China will later convert the foreign currency converted by international organizations (that is, the currency corresponding to your credit card foreign currency account) into RMB and credit it into your account.

(2) Cross-border transaction currency exchange fee: VISA and MasterCard will charge a 1.5% cross-border transaction currency exchange fee, and JCB will charge a 1% cross-border transaction currency exchange fee.

(3) Repayment: Repay directly in RMB.

Warm reminder: Some Bank of China card types exempt currency exchange fees for cross-border transactions. For details, you can call the Bank of China credit card customer service hotline 4006695566. I wish you a happy card use!

(Answer time: May 24, 2023)

The above content is for your reference, please refer to the actual business regulations.

You are sincerely invited to download and use Bank of China Mobile Banking APP or Bank of China Cross-border GOAPP to handle related businesses.