Can I withdraw money if I accidentally deposit it into a credit card?
Yes. If you put money into a credit card, there will be no problem if it is used to pay off the credit card. On the repayment date, the system will automatically deduct the money for repayment. But if you don’t have unpaid bills when you deposit, or if you deposit too much and there is still money left over after repayment, it will become an overpayment, and the overpayment will turn into a bad debt over time.
If the money you deposited becomes an overpayment, you can withdraw the money, but some bank credit cards will charge a certain percentage of handling fees for overpayment withdrawals.
Or you can also transfer the overpayment to your savings card. You can go to an outlet to transfer, or you can directly log in to online banking or mobile banking or credit card APP to transfer, but this may also charge a handling fee. .
Of course, you can also use your credit card to make purchases directly, and the overpayment will be deducted first and then the limit during the transaction.
Credit Card Management Regulations
In April 2016, the People's Bank of China issued the "Notice of the People's Bank of China on Matters Concerning the Credit Card Business", which came into effect on January 1, 2017.
The "Notice" requires the implementation of upper and lower limit management on credit card overdraft interest rates. The upper limit of overdraft interest rates is 5/10,000 daily interest rates, and the lower limit of overdraft interest rates is 0.7 times the daily interest rate of 5/10,000ths.
Mainly based on the following considerations: First, the implementation of step-by-step and gradual reforms will help card issuers further accumulate pricing data and experience during the transition period, and guide them to improve the credit card interest rate pricing mechanism.
Second, the credit card risk control and pricing capabilities of each card issuer are uneven. The upper and lower interest rate guidance will help prevent individual card issuers from blindly cutting prices and engaging in price wars, resulting in unfair competition and high-risk customers. Excessive borrowing will increase credit risks and cause partial chaos in the market.
Third, while the information disclosure mechanism needs to be strengthened, setting an upper limit on overdraft interest rates will help prevent individual card issuers from unreasonably charging excessive interest and protect the legitimate rights and interests of cardholders.
On May 25, 2021, the Supreme People’s Court issued and implemented the “Regulations of the Supreme People’s Court on Several Issues Concerning the Trial of Bank Card Civil Cases”, clarifying that: the people support cardholders’ legal relationships based on debit card and credit card contracts. Request the card issuer to return the principal and interest of the deposit or overdraft, liquidated damages and compensate for the losses caused by the stolen fraudulent use; at the same time, it does not support the card issuer's request to the credit card holder to repay the principal and interest of the overdraft, liquidated damages, etc.
Credit limit
The credit limit refers to the maximum overdraft limit that the bank gives you when approving your credit card. You can only spend within this limit. If you exceed the limit, This limit cannot be used for regular card payments. The credit limit is determined based on a comprehensive evaluation based on the information you filled in when applying for a credit card and the relevant supporting documents provided. The main card and supplementary card share the same limit. Under normal circumstances, the RMB limit and the US dollar limit in a dual-currency credit card can be converted to each other. For example, if your limit is 30,000 RMB, when you use the card overseas, your credit limit is approximately equivalent to 5 ,000 USD.
The credit limit will be adjusted regularly by the bank, but you can proactively provide relevant proof of financial resources to request adjustment of the credit limit. In addition, when you need a higher limit within a certain period of time when traveling abroad, moving to a new home, etc., you can request to increase the temporary credit limit.
What to do if the money is accidentally transferred to the credit card
1. What to do if the money is accidentally transferred to the credit card
When the amount deposited into the credit card exceeds When all balances are owed on the account, the excess amount is called "overpayment" and will be automatically deducted from subsequent credit card purchases. Cardholders can also call the bank's credit card service hotline to receive the overpayment by transferring funds to a debit card in their name. The account name and ID number of the debit card used must be consistent with the credit card number.
2. Credit card
Credit card, also called credit card, is a credit certificate issued by a commercial bank or credit card company to consumers with qualified credit. It takes the form of a card with the name of the issuing bank, validity period, number, cardholder name and other contents printed on the front, and a magnetic stripe and signature strip on the back. Consumers holding credit cards can shop or consume at specially appointed commercial service departments, and then the bank will make settlements with merchants and cardholders. Cardholders can overdraft within the prescribed limit.
Starting from January 1, 2021, the credit card overdraft interest rate will be determined independently by the card issuer and the cardholder through independent negotiation, and the upper and lower limit management of credit card overdraft interest rates will be cancelled. The daily interest rate is 0.7 times 5/10,000).
3. Credit card repayment methods
1. Repayment within the issuing bank
This method includes: card issuing bank counter, ATM, online banking, automatic transfer, Telephone banking repayment, etc. After repayment, the credit card limit will be restored immediately, and the payment will generally be credited to the account after the system processes it on the same day.
2. Weiyintong POS mobile phone
Weiyintong POS mobile phone is a mobile financial system personal payment terminal, which can be used to directly swipe credit cards for repayment, as well as transfer and other services. , instant payment.
3. Transfer/remittance repayment
It is mainly divided into two methods: inter-bank in the same city and inter-bank in different places. Regardless of the method of transfer or remittance, the remittance bank will charge a certain fee. At the same time, the time it takes for the money to arrive and the convenience of repayment are not as good as intra-peer repayment, online repayment, convenience store repayment and other methods.
4. Online repayment
The more common domestic online platforms include: UnionPay Online, Kuaiqian, Shengfutong, Alipay, Tenpay, etc. Depending on the platform and bank you choose, the charging standards and specific payment arrival time will be different.
5. Xinpaytong repayment
The "Xinpaytong" smart card swiping phone was independently developed by China UnionPay, certified by the Bank Card Testing Center, and approved by the China UnionPay inter-bank information exchange network Providing innovative electronic products supported by financial services.
I accidentally transferred money to a CCB credit card. How can I withdraw it?
The funds deposited into the CCB credit card will first repay the entire credit card balance. If there is still remaining funds, it will be the credit card overpayment. In addition to giving priority to consumption, customers can also spend it in the following ways :
1. RMB excess payment: You can transfer RMB excess payment to your bank savings account or other through mobile banking, personal online banking "credit card-cash transfer" function, branch counters, and self-service equipment For credit cards, overpayment funds can be transferred to our bank's accounts in the same city without handling fees; cardholders can also withdraw cash from overpayments through CCB outlets or self-service equipment, and there is no handling fee for overpayment withdrawals from local branches. (Note: Since the Dragon Card E payment card does not have a physical card, when withdrawing cash, you can use "Dragon Card Cloud Quick Pass" to withdraw cash from the main credit card account through contactless methods at ATMs marked with the UnionPay "Quick Pass" logo).
2. Overpayment: After calling 95533, select the # key, then follow the voice prompts and select "3 Credit Card Services" in order, and handle the refund of the overpayment to the debit card through manual service.
(In case of business changes, please refer to the actual situation.)
What should I do if the money is deposited into the credit card?
The money deposited into the credit card can be withdrawn. , this method is called overpayment cash withdrawal. If you want to withdraw it, you can directly go to a bank branch or ATM to withdraw it. If you find it troublesome, you can spend it directly. The next time you swipe your card for consumption, your credit card will be given priority. This part of the money will be deducted.
Credit Card
The earliest credit card appeared at the end of the 19th century. In the 1880s, the British clothing industry developed so-called credit cards, and the tourism and business sectors followed suit. However, the cards at that time could only be used for short-term commercial credit, and the money still had to be paid as and when used. Long-term arrears were not allowed, and there was no credit line.
A credit card is generally a special carrier plastic card with a length of 85.60 mm, a width of 53.98 mm, and a thickness of 1 mm. The name of the card issuer, validity period, number, cardholder name, etc. are printed on the front, and there is a chip on the back. Magnetic strip, signature strip. Cardholders can use their credit cards to shop and spend money with special entities and deposit and withdraw cash from banks.
It is said that one day in the 1950s, American businessman Frank McNamara was entertaining guests for a meal in a New York hotel. After the meal, he found that he had forgotten his wallet and had to call his wife to bring cash. McNamara came up with the idea of ??starting a credit card company because he felt embarrassed about paying the bill at a restaurant. In the spring of 1950, McNamara and his friend Schneider invested US$10,000 to establish the "Diners Club" in New York, the predecessor of Diners Club.
Diners Club provides members with a card that can prove their identity and payment ability. Members can use the card to record their purchases at 27 designated restaurants without having to pay cash. This is the earliest credit card. This kind of credit card that does not require bank processing is a commercial credit card.
In 1952, Franklin National Bank in California, USA, was the first financial institution to issue a bank credit card, becoming the first bank to issue a credit card.
In 1959, Bank of America issued the Bank of America card in California. Since then, many banks have joined the ranks of card-issuing banks. By the 1960s, bank credit cards were quickly welcomed by all walks of life and developed rapidly. Credit cards became popular not only in the United States, but also in the United Kingdom, Japan, Canada and European countries. Since the 1970s, Hong Kong, Taiwan, Singapore, Malaysia and other regions have also begun to handle credit card services.
What should I do if I mistakenly deposit money into a credit card?
If you accidentally deposit money into a credit card, try to "redeem" it by swiping the card. Credit card purchases will automatically use the "overpayment" limit by default before using the normal credit limit. 1. Overpayment Overpayment refers to the funds overpaid by credit card customers during repayment or the funds deposited in the credit card account. When swiping a card for consumption, the overpayment will be deducted first, but if you want to withdraw this part of the funds, you need to pay a certain handling fee.
Credit card cash-out means that the cardholder does not withdraw cash through normal legal procedures (ATM or counter), but uses other means to withdraw the funds within the credit limit of the card in the form of cash without paying. Bank withdrawal fees. Regarding the credit card arbitrage behavior that has become more and more serious in recent years, the Shanghai headquarters of the Central Bank stated on July 26, 2010 that it is illegal to cash out credit cards. The central bank is studying to record the cardholders' cash-out behavior in the personal credit information system, which will directly affect their personal credit records. From the day you get the credit card, the bank promises to give you a corresponding amount of advance payment. For example, if you apply for a credit card with a limit of 10,000, then the bank promises to lend you 10,000 quick cash at any time. What about this 10,000 yuan? You can pay it back to the bank within the interest-free period of up to 56 days, and your interest will not be counted during this period. However, this advance payment can only be used for consumption. The bank does not encourage you to convert it into cash and take it out, because when When you go to an ATM machine to withdraw cash, you can only withdraw 50% of the amount. At the same time, you will be charged a handling fee of 1%-3% for this cash. When you withdraw the money, the bank will start calculating interest for you. , the national regulation is 50,000 per day.
Credit cards of some banks have an installment limit, and consumption can be paid in installments. The installment limit of the credit card is used for installment payment. The available limit in the credit card will not be reduced, so the credit card holder can Use the credit cards of these banks to "spend twice": first pay once in installments to use up the installment limit, and then directly swipe the card once to consume the available limit in the credit card limit, so that you can consume the available limit in the credit card limit in the installment limit. amount. Then by using the above cash-out method, you can easily cash out the installment limit and the credit card limit, thereby realizing double the cash-out on your credit card! For example, if someone's credit card limit is 10,000 yuan and the installment limit is 20,000 yuan, then he can go to a designated shopping mall and buy something worth 30,000 yuan, thus realizing double the cash out!
This is the end of the introduction about what to do if money is deposited to a credit card and what to do if money is deposited to a credit card and the credit card cannot be withdrawn. I wonder if you found the information you need?