Credit Card Business Management Measures

Chapter 1 General Provisions Article 1 In order to adapt to the needs of the development of the socialist market economy, standardize and manage the credit card business, and promote the healthy development of my country's credit card business, these measures are formulated this method. Article 2 All commercial banks and their branches, cardholders and special units that accept credit cards that handle credit card business within the territory of the People's Republic of China and the People's Republic of China must abide by the provisions of these Measures. Article 3 The term “credit card” as mentioned in these Measures refers to the credit payment instruments issued by the People's Republic of China and various commercial banks within the territory of the People's Republic of China (including foreign-funded banks and Sino-foreign joint venture banks, hereinafter referred to as commercial banks) to individuals and entities.

Credit cards have functions such as transfer settlement, cash deposits and withdrawals, and consumer credit. Article 4 Credit cards are divided into corporate cards and personal cards according to the objects of use; they are divided into gold cards and ordinary cards according to the credit rating; they are divided into RMB cards and cards according to the currency; they are divided into magnetic stripe cards and smart cards according to the carrier material. I shall be hereinafter referred to as IC Card). Article 5 Commercial banks may not issue credit cards without the approval of the People's Bank of China.

Representative offices in China of non-financial institutions, non-bank financial institutions, and overseas financial institutions are not allowed to operate credit card business. Article 6 The People's Bank of China is responsible for the management and coordination of credit card business nationwide. Each card-issuing bank is responsible for the organization, management and coordination of the credit card business of this system. Article 7 Commercial banks operating credit card business shall formulate credit card business charter in accordance with these Measures and other relevant rules and regulations issued by the People's Bank of China, and submit them to the People's Bank of China for approval. Article 8 The credit card department of each commercial bank is an internal business department and shall not be a legal person institution that implements independent accounting and has its own system. Chapter 2 Business Rules Article 9 The corporate card must have the word "DWK" embossed on the left side of the lower left corner of the card face and the cardholder's name (pinyin) embossed on the right side of the word "DWK". Article 10 The magnetic stripe cards and IC cards issued by all banks must comply with the relevant standards promulgated by the State Bureau of Technical Supervision and the People's Bank of China, except for those that participate in international credit card organizations and issue credit cards with the marks of international organizations. Article 11 When receiving a credit card, an organization or individual shall deposit a reserve fund with the card-issuing bank in accordance with regulations. Article 12 The card-issuing bank may require the applicant to provide guarantee based on the applicant's creditworthiness. The guarantee may be in the form of guarantee, mortgage or pledge. Article 13 The interest on credit card reserve deposits shall be calculated in accordance with the demand deposit interest rates and interest calculation methods prescribed by the People's Bank of China.

If the time deposit is pledged, the time deposit shall be calculated according to the time deposit interest rate and interest calculation method prescribed by the People's Bank of China. Article 14 The credit card reserve funds and deposits pledged by time deposits absorbed by the card-issuing bank shall pay deposit reserves to the local branch of the People's Bank of China in a prescribed proportion. Article 15 The card-issuing bank shall establish an authorization and approval system.

When cardholders use their credit cards to handle transfer settlement or withdraw cash, if the amount exceeds the prescribed limit, they must obtain authorization from the card-issuing bank. Article 16 Corporate cardholders are not allowed to use their credit cards to withdraw cash from bank outlets and ATMs in other places and within the city where they receive the card. Article 17 Cardholders are allowed to make overdrafts for consumption purposes within the limit and period specified in these Measures. The overdraft limit is 10,000 yuan for gold cards and 5,000 yuan for ordinary cards. Article 18 The maximum overdraft period of a credit card is 60 days. Article 19 Credit card overdraft interest will be calculated at a daily interest rate of 0.05% within 15 days from the date of signature or bank accounting, and a daily interest rate of 10% for more than 15 days. If it exceeds 30 days or the overdraft amount exceeds the prescribed limit, , calculated based on the daily interest rate of 15/10,000. Overdraft calculations are not segmented, and interest is calculated based on the highest interest rate bracket for the final term or the maximum overdraft amount. Article 20 The overdraft business of each card-issuing bank must be included in its credit scale for management. The overdraft amount is transferred to short-term loan accounting. Article 21 Malicious overdraft refers to the overdraft behavior of the cardholder for the purpose of illegal possession, exceeding the prescribed limit or prescribed period, and the collection by the card-issuing bank is invalid. Article 22 The special unit shall not refuse to accept a valid credit card legally held by the cardholder and issued by the contracted bank for any reason, and shall not charge additional fees to the cardholder for using the credit card. Article 23 Specially contracted entities are not allowed to pay cardholders in cash by pressing cards, signing orders, or returning goods.

Article 24 All commercial banks shall charge credit card transaction fees from special units according to the following standards:

(1) RMB credit card shall not be less than 2% of the transaction amount;

(2) For credit cards issued by overseas institutions and used within China, the credit limit shall not be less than 4% of the transaction amount.

When a domestic bank signs a credit card agency acquisition agreement with an overseas institution, the profit distribution ratio shall be based on the domestic bank and the overseas institution accounting for 37.5% and 62.5% of the handling fees paid by the special unit respectively. Article 25 The business rules of credit cards shall be formulated separately. Chapter 3 Business Management Article 26 Commercial banks must submit credit card business to the People's Bank of China for approval; their branches and sub-branches handling credit card business must report to the branches and sub-branches of the People's Bank of China within their jurisdiction for filing. Article 27 Banks that offer credit card business must meet the following conditions:

(1) Monitor the asset-liability ratio in compliance with the "Law of the People's Republic of China on Commercial Banks" and the supplementary provisions of the People's Bank of China Indicators;

(2) Corresponding internal management organizations;

(3) Qualified managers and technical personnel;

(4) Sound management system and safety systems;

(5) Necessary telecommunications equipment and management locations;

(6) Other conditions specified by the People's Bank of China.

Credit Card Management Measures

The "Measures for the Supervision and Administration of Credit Card Business of Commercial Banks" were adopted at the 100th Chairman's Meeting of the China Banking Regulatory Commission on July 22, 2010. It is hereby promulgated and shall come into effect on the date of promulgation.

Measures for the Supervision and Administration of the Credit Card Business of Commercial Banks

General Principles: In order to regulate the credit card business of commercial banks, protect the legitimate rights and interests of customers and banks, and promote the healthy and orderly development of the credit card business, in accordance with the "People's Republic of China These Measures are formulated by laws and regulations such as the Banking Supervision and Administration Law of the People's Republic of China and the People's Republic of China, the Commercial Bank Law of the People's Republic of China and the People's Republic of China, and the Regulations of the People's Republic of China and the People's Republic of China on the Administration of Foreign-funded Banks.

Article 2: When operating credit card business, commercial banks shall strictly abide by national laws, regulations, rules and relevant policies and regulations, and follow the principles of equality, voluntariness, and good faith. Article 3: Commercial banks operating credit card business shall protect the legitimate rights and interests of customers and the security of relevant information in accordance with the law. Relevant information shall not be used for purposes other than the Bank's credit card business without the authorization of the customer.

Article 4: Commercial banks operating credit card business shall establish and improve credit card business risk management and internal control systems, strictly implement authorization management, and effectively identify, evaluate, monitor and control business risks. Article 5: Commercial banks operating credit card business shall fully disclose relevant information to cardholders, reveal business risks, and establish and improve corresponding complaint handling mechanisms. Article 6: The China Banking Regulatory Commission and its dispatched offices shall supervise and manage the credit card business of commercial banks in accordance with the law.

1. The term “credit card” as mentioned in these Measures refers to various media that record cardholder account information, have bank credit limit and overdraft functions, and provide cardholders with relevant banking services. Credit card business refers to the banking services provided by commercial banks using bank cards with credit lines and overdraft functions, which mainly includes card issuance business and acquiring business.

2. Credit card overdraft interest will be calculated at a daily interest rate of 0.05% within 15 days from the date of signature or bank accounting, and a daily interest rate of 10% for more than 15 days. If it exceeds 30 days, it will be an overdraft. If the amount exceeds the prescribed limit, daily interest will be calculated at 15%. Overdraft interest is not calculated in stages, but is calculated based on the highest interest rate bracket for the final term or the maximum overdraft amount.

Interim Measures for the Management of Credit Card Business

Article 1: In order to strengthen the management of credit card business, these Measures are specially formulated. Article 2 The term “credit card business” as mentioned in these Measures refers to the credit card business and overseas credit card agency business operated by banks within China (including branches and branches established by domestic banks and overseas banks in China) with the approval of the People’s Bank of China. Article 3 Non-financial enterprises and institutions and representative offices of overseas banks in China are not allowed to handle credit card business and act as agents for overseas credit card business. Article 4 All banks in China that engage in credit card business shall comply with the provisions of these Measures.

Article 5 Any bank that requires opening credit card business must meet the following conditions:

(1) Qualified managers and operators;

(2) Sound management system and security System;

(3) Necessary business facilities and safety facilities;

(4) Corresponding internal management organizations. Article 6 Any bank that meets the conditions for opening a credit card business must submit an application to the People's Bank of China and can only open the business after approval. Applications from its branches and sub-branches for the issuance of RMB credit cards shall be reviewed by the bank's head office and reported to the local people. Bank filing. Article 7 To apply for opening a credit card business, the following documents and information should be submitted to the People's Bank of China:

(1) Application report;

(2) Credit card business charter;

(3) Resumes and relevant information of the main person in charge of the credit card department;

(4) Information about the name, card sample, issuance scope and target of the credit card to be issued, as well as the information about the overseas credit card to be represented. Relevant information from the entrusting bank or foreign organization;

(5) Other information required by the People's Bank of China. Article 8 When a domestic bank signs a credit card agency business agreement with an overseas bank, a copy of the agreement and relevant information shall be submitted to the People's Bank of China for record. Article 9 Banks that apply for credit card business and their branches shall submit quarterly statements related to credit card business to the People's Bank of China head office and its branches respectively. Article 10 All banks that offer credit card business shall, based on the principle of voluntariness and mutual benefit, gradually carry out joint venture cooperation in aspects such as acquiring, machines, information, and card acceptance in handling RMB credit cards or agency overseas credit card business. The scope of joint venture cooperation can be some banks that offer credit card business in the country, or it can be all banks. Article 11 All domestic banks that handle credit card business may join international credit card organizations with the approval of the People's Bank of China. Article 12 RMB credit cards issued by domestic banks shall be prepared in accordance with international standard rules. Article 13 Each bank issuing RMB credit cards must attach a charter stating the interest rate of the reserve deposit in the credit card account, the overdraft limit, the overdraft interest rate and other matters, as well as the annual card application fee, loss report fee and other charging standards. Article 14 The interest rate on RMB credit card reserve deposits shall be calculated in accordance with the current deposit interest rate set by the People's Bank of China.

RMB credit card overdraft interest will be calculated as a daily interest rate of 5/10,000 within 15 days from the bank accounting date, and as a daily interest rate of 10/10,000 if it exceeds 15 days. If it exceeds 30 days or the overdraft exceeds the prescribed limit, it will be calculated as a daily interest rate. Calculated based on interest rate 20/10000. Overdraft interest is not calculated in stages, but is calculated based on the highest interest rate bracket for the final term or the maximum overdraft amount. Article 15 The overdraft limit for RMB credit cards is 1,000 yuan for personal ordinary cards and 5,000 yuan for corporate ordinary cards. If each bank sets separate standards, it shall be reported to the People's Bank of China for filing. Article 16 In order to make up for the loss of bad debts caused by false claims, malicious overdrafts, etc., each bank that handles RMB credit card business must set aside a bad debt reserve of 2‰ of the total amount of credit card transactions. Article 17 When signing contracts with special merchants to accept credit cards and develop the credit card market, banks shall cooperate with each other and shall not adopt any exclusive approach. Special merchants shall not refuse to sign contracts with other banks on the same terms. Article 18 The rate of rebates for credit card transactions that each bank collects from special merchants. The RMB credit card business shall comply with the unified standards for various industries stipulated by the People's Bank of China (see attached table). Without the approval of the People's Bank of China, no bank may reduce or disguise the rate on its own. Reduce rebate rates. Act as an agent for overseas credit card business in compliance with the unified standards stipulated by the International Credit Card Organization. Article 19 When a domestic bank signs a credit card agency agreement with an overseas bank, its profit distribution ratio and other substantive terms shall be implemented in accordance with the unified regulations of the People's Bank of China. The profit distribution ratio is based on the fact that domestic banks and overseas banks account for 37.5% and 62.5% of the rebates paid by special merchants respectively. Article 20 All banks must establish corresponding systems and designate specialized agencies and personnel for unified management of blank cards, waste cards to be destroyed, and related business vouchers. The purchase of blank credit cards should be handled by the head office of each bank, and branches are not allowed to purchase them on their own. Article 21 The RMB credit card settlement system shall be formulated uniformly by the People's Bank of China, and each bank may formulate implementation details based on the unified system.

Article 22 Anyone who violates these regulations shall be subject to the following penalties by the local People's Bank of China depending on the severity of the case:

(1) Any bank that operates credit card business without approval shall be ordered to immediately cease operating such business. Confiscate their illegal income and notify them of criticism;

(2) Non-financial enterprises and institutions and representative offices of overseas banks in China that engage in credit card business and agency overseas credit card business shall be ordered to cease operations immediately and their illegal income shall be confiscated , and be fined from RMB 1,000 to RMB 10,000;

(3) Anyone who reduces the rebate rate of credit card transactions without authorization or in disguise will be ordered to make corrections immediately and be fined 5% of the transaction amount. Those who refuse to make corrections will be announced to suspend part or all of their credit card business;

(4) Any bank that signs any exclusive agreement with a special merchant to accept credit cards will be ordered to make corrections and will be notified of criticism. and impose a fine of 10,000 yuan to 50,000 yuan. Those who refuse to comply will be announced to suspend part or all of their credit card business;

(5) Those who violate more than two of the above provisions at the same time may be punished together, but the punishment shall not exceed the severity of the punishment.

This concludes the introduction to credit card management regulations and credit card management regulations. Have you found the information you need?