Can I deposit and withdraw money with a credit card?
It is possible to deposit and withdraw money with a credit card.
Credit cards have the function of depositing and withdrawing money, but deposits will be regarded as credit card repayments, and withdrawals will be regarded as credit card cash withdrawals. Cardholders can bring their credit cards to the bank business hall and apply to the counter staff for credit card deposits or withdrawals. Cardholders can also directly go to the ATM access machine near the bank, insert their credit card, enter the card password, and follow the prompts to handle deposits or withdrawals.
Credit Card (English: CreditCard), also called credit card. It is a non-cash transaction payment method and a simple credit service. Credit cards are generally 85.60 mm long, 53.98 mm wide, and 1 mm thick, special carrier plastic cards with consumer credit. It is issued by the bank to individuals and organizations, and can be used to shop, consume, and deposit and withdraw cash from the bank. It is in the form of a card with the name of the issuing bank, validity period, number, cardholder name, etc. printed on the front and a magnetic card on the back. strip, signature strip.
Credit cards are issued to cardholders by banks or credit card companies based on the user's creditworthiness and financial resources. Cardholders do not need to pay cash when using the credit card, and repayment will be made on the billing date (English: BillingDate). Credit cards are divided into credit cards and quasi-credit cards. Credit cards refer to credit cards issued by banks and give cardholders a certain credit limit, and the cardholders can consume within the credit limit and then repay; quasi-credit cards It refers to a quasi-credit card issued by a bank, and the cardholder is required to deposit a certain amount of reserve fund. When the reserve account balance is insufficient to pay, the card can be overdrawn within the specified credit limit. The so-called credit card generally refers to a credit card only.
After experiencing the financial crisis and the ups and downs of the domestic economy, my country's credit card market rebounded in 2016. By the end of 2016, the total number of domestic credit cards issued had exceeded 590 million. In 2016, the national credit card consumption transaction amount reached 741.81 trillion yuan, an increase of 10.75%. The proportion of credit card consumption in the total retail sales of consumer goods continues to increase.
Can I withdraw money from an ATM with a credit card?
Yes.
Credit cards support cash withdrawal operations at ATM machines. The cash withdrawal process is the same as that of bank cards. However, the credit card cash withdrawal limit is limited, usually 50%-100% of the credit limit. Please refer to the specific cash withdrawal limit. Check with the card-issuing bank to confirm. When using a credit card to withdraw cash from an ATM, in addition to the cash withdrawal fee, you will also be charged daily cash withdrawal interest, so the credit card cash withdrawal service is only suitable for emergencies. Different banks have different charging standards for credit card cash withdrawals. If you want to use credit card cash withdrawal services, you can first call customer service to ask about the handling fees, interest fees and cash withdrawal limits. This way you can calculate in advance the fees you need to pay for this cash withdrawal.
No matter which form of cash withdrawal you need to pay attention to the following two points:
1. The credit card cash withdrawal limit is generally half of the credit limit. Suppose your credit card limit is 10,000 yuan, then when you withdraw cash, you can withdraw up to 5,000 yuan.
2. Credit card cash withdrawals require fees and interest. Credit card handling fees are generally charged once. Different banks have different credit card cash withdrawal handling fee standards, but they are not low. The interest rate for credit card cash withdrawals is 0.05% per day, and there is no interest-free period. Interest is calculated from the day of cash withdrawal, and compound interest is calculated monthly, which is the so-called "interest compounding". So remember to pay back the money as soon as possible after withdrawing cash.
The domestic cash advance handling fees of major banks:
The local branch of ICBC has no handling fees;
China Everbright Bank 2.5% of the cash withdrawal amount, The minimum charge is 3 yuan, the maximum is 200 yuan;
1% of the transaction amount of Agricultural Bank of China, the minimum is 1 yuan.
1% of the cash withdrawal amount of China Construction Bank has a minimum of RMB 10 and a maximum of RMB 500.
There is no handling fee at the local branch of Bank of China.
China Merchants Bank charges 1% of the cash advance, with a minimum charge of RMB 10 (the first payment of city series credit cards is free of charge).
1% of the transaction amount of Nengeng Bank, with a minimum of RMB 5 per transaction (new standard).
2.5% of the transaction amount of Ping An Bank, with a minimum of RMB 25 per transaction.
Minsheng Bank will charge 0.5% of the cash withdrawal amount, with a minimum of RMB 1 yuan.
Industrial Bank charges 2% for cash advances, with a minimum charge of RMB 20.
CITIC Bank charges 3% for cash advances, with a minimum charge of RMB 30.
3% of the cash withdrawal amount from Shanghai Pudong Development Bank, with a minimum of RMB 30.
2.5% of the cash withdrawal amount from China Guangfa Bank; minimum RMB 10.
Can a credit card be used to withdraw cash from an ATM machine?
Yes, a credit card can be used to withdraw cash directly from an ATM machine. Just like a debit card, after inserting the card into the machine, you can withdraw cash by entering the password. Withdrawing money from a credit card is also called cash withdrawal or cash advance, and it can be divided into two situations: credit limit cash withdrawal and excess deposit cash withdrawal. Credit limit cash withdrawal is also called overdraft cash withdrawal, which is to withdraw cash by overdrafting the credit card limit. Withdrawal of excess deposit is to withdraw cash from the funds stored in the credit card or the funds overpaid during repayment.
Credit cards, also called credit cards, are credit certificates issued by commercial banks or credit card companies to consumers with qualified credit. It takes the form of a card with the issuing bank's name, validity period, number, cardholder's 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 designated commercial service departments, and then the bank will settle the accounts with merchants and cardholders. Cardholders can overdraft within the prescribed limit.
1. Credit cards can be used to withdraw money from ATMs.
Handling fees: The handling fees for credit card cash withdrawals of large state-owned banks are lower than those of joint-stock banks. Among them, the ICBC and Bank of China Great Wall Tong series credit card withdrawals are free of handling fees; China Construction Bank is currently in the preferential period and only charges 0.5% for cash withdrawals; Agricultural Bank of China Among the four major state-owned banks, the fee is the highest, currently 1%.
2. Among joint-stock banks, Bank of Communications, China Merchants Bank, Bank of Beijing, and Huaxia Bank all charge a 1% cash handling fee. China Guangfa Bank and Ping An Bank are the most expensive among the top ten banks, both charging 2.5% cash handling fee.
3. There will be minimum charges among the 8 recharge banks. The minimum charges among the 8 recharge banks vary by 25 times. That is, if you only withdraw 100 yuan in cash, Agricultural Bank of China will only charge 1 yuan, while Ping An Bank will charge 1 yuan. 25 yuan. According to the survey, the lowest handling fee is 1 yuan/transaction at Agricultural Bank of China, 2 yuan/transaction at China Construction Bank, 5 yuan/transaction at Hua Xia Bank, 10 yuan/transaction fee at China Guangfa Bank, Bank of Beijing, China Merchants Bank, and other banks. Ping An Bank is the most expensive at 25 yuan/transaction.
1. In fact, in addition to the cash withdrawal fee, cash withdrawn by credit card does not enjoy interest-free repayment and also requires interest. According to a survey by a reporter from Beijing Business Daily, the interest expense of 10 banks is 5/10000, but the interest calculation time is different. The customer service staff of Bank of Communications told reporters that interest will be charged from the second day of withdrawal until the date the debt is paid off. China Merchants Bank calculates interest on a daily basis from the transaction date to the settlement date and 1% on a monthly basis. Guangfa Bank's interest is also charged from the date of overdraft, with a minimum charge of 1 yuan per month.
2. Credit cards can withdraw a certain amount of cash. As long as you withdraw cash, you will be charged interest, and the interest rate is relatively high. So try not to use credit cards to withdraw cash.
Can a credit card be used to withdraw cash from an ATM?
A credit card can be used to withdraw money from an ATM, that is, a credit card can be used to withdraw cash or cash advance. The withdrawal process is the same as that of a bank card, but , credit card withdrawals will be limited by the cash withdrawal limit. The cash withdrawal limit of major banks' credit cards will be different. Generally, it is 30% or 50% of the credit limit. Some credit card cash withdrawal limits can reach 100%.
In addition, withdrawing money from an ATM with a credit card will incur handling fees and interest. The handling fee standard is subject to the regulations of the card-issuing bank. The interest charging standards of all major banks are consistent from the date of withdrawal to the settlement date. The interest rate is 0.05% per day.
Notes on credit card cash withdrawals:
1. Credit limit ≠ cash withdrawal limit
Many cardholders see that their credit limit is very high and think that they can use it all Take it out, but it’s not the case. A credit card has two limits, one is the credit limit, which is used for overdraft consumption, and the other is the cash withdrawal limit, which is mainly used for withdrawing cash.
It doesn’t matter if you swipe the entire credit limit or overdraw it, but there is a limit to the cash withdrawal limit. The cash withdrawal limit of most bank credit cards is only 50% of the credit limit, and some are even only 30%. But there are some special cards, such as the Merchants Young Card, which can withdraw cash 100%.
2. Not all credit cards can withdraw cash directly
Card friends who want to withdraw cash with credit cards, please note that not all credit cards can withdraw cash. However, some banks have credit cards that open pre-payment services. After borrowing cash, you can withdraw cash through an ATM machine.
3. Credit card cash withdrawal fees are very high
There are two channels for credit card withdrawals. You can withdraw cash directly at an ATM, or you can apply for cash installments from the bank. Direct cash withdrawals are not only subject to formalities. There is no interest-free period, and interest will be calculated at 50,000 per day starting from the day of withdrawal. The interest compounding fee is very high.
Although you can enjoy the interest-free period for cash installment, the handling fee is too high, several points higher than the bill installment handling fee, and it is still not cost-effective. However, for cardholders, if you want to borrow money from the bank, Money must be paid for, so how can we not let the bank taste some sweetness? Cardholders who want to use their credit cards to withdraw cash will feel their hearts are broken after understanding the above three points. Heartbroken people have to face what they have to face. Just don’t use your credit card to withdraw cash unless absolutely necessary.
According to Article 7 of the "Regulations on the Supervision and Administration of Credit Card Business of Commercial Banks": A credit card refers to a credit card that records cardholder account information, has bank credit lines and overdraft functions, and provides cardholders with relevant banking services. All types of media.
Credit cards stipulated in the relevant laws of our country ("Interpretation of the Standing Committee of the National People's Congress on Relevant Credit Card Regulations") refer to credit cards issued by commercial banks or other financial institutions with the functions of consumption payment, credit loans, transfer settlement , cash deposit and withdrawal and other full or partial functions of the electronic payment card. On December 1, 2017, the "English Translation and Writing Standards in the Public Service Field" was officially implemented, stipulating that the standard English name of credit cards is CreditCard.
Credit card consumption is a non-cash transaction payment method. There is no need to pay cash when consumption, and repayment will be made on the billing date (BillingDate).
Credit cards are divided into credit cards and quasi-credit cards. Credit cards refer to credit cards in which the cardholder has a certain credit limit and can consume within the credit limit and then repay; quasi-credit card It refers to a quasi-credit card in which the cardholder deposits a certain amount of reserve fund as required. When the reserve account balance is insufficient to pay, the cardholder can overdraw within the prescribed credit limit. The so-called credit card generally refers to a credit card only.
Can I withdraw money from a credit card?
It can be taken out.
Credit cards can be used to withdraw money, and there are three ways to withdraw money
1. Cash advance withdrawal:
Cash advance is one of the basic functions of a credit card. Cardholders do not need to apply to the bank in advance. They can directly insert the card into the ATM machine to withdraw cash. The amount of cash withdrawal is generally 50% of the available limit of the credit card.
2. Cash withdrawal in installments:
This method of cash withdrawal requires the cardholder to apply to the bank, and the bank will also conduct an review. If the review is passed, the bank will transfer the money to the bank's savings card in the name of the cardholder; if the review fails, the bank will One cannot withdraw cash.
3. Cash withdrawal of overpayment:
Overpayment is the money stored in the credit card by the cardholder, which can be withdrawn directly from the ATM machine.
Credit card cash withdrawal is one of the inherent functions of the credit card itself. Cardholders can use the credit card to withdraw cash from the bank. Credit card cash withdrawals mainly include overdraft cash withdrawal and overpayment cash withdrawal. Overdraft withdrawals require interest, and interest is calculated from the day you withdraw cash, while overdraft withdrawals do not require interest and only require payment of part of the handling fee, depending on the regulations of each bank.
The overdraft cash withdrawal limit is set according to the cardholder's card usage, and the maximum limit shall not exceed 50% of the cardholder's credit limit. The daily limit for ATM cash withdrawal per person and card is 2,000. In addition to the cash withdrawal fees for credit card withdrawals, interest must be paid for overdraft withdrawals at home and abroad. Some banks can enjoy interest-free treatment.
Notes on cash withdrawal with credit card
1. The cash withdrawal cannot be repaid in installments
If you withdraw cash with a credit card, the cash withdrawal cannot be repaid in installments. And there are many bank credit cards where the cash withdrawal part is fully included in the minimum repayment amount. In other words, how much you withdraw in cash must be paid back on the repayment date, and it must be paid off in one go. There must be no arrears or insufficient repayment amount. Otherwise, it will be overdue, which will directly affect the tax collection. letter.
2. High handling fees
The handling fees required for cash withdrawals by credit cards in different banks are also different. Generally, the handling fees for credit card cash withdrawals are between 1% and 3%. between. In addition, after withdrawing cash, it means that you can no longer enjoy the interest-free period, and the bank will also charge a certain amount of interest from the cardholder. The interest will be calculated on a daily basis from the accounting date, with a daily interest rate of RMB 50,000, until the debtor until the debt is paid off.
3. Cash withdrawal affects the application limit business
For banks, when there is a cash withdrawal, the bank will think that the cardholder has insufficient repayment ability, and it will be unreasonable to apply for a limit increase again. It is more difficult to succeed, so it is best not to do cash withdrawal business. The cost of cash withdrawals with credit cards is high and cannot be paid in installments, which can easily lead to greater repayment pressure.
Can I use a credit card to withdraw money from the bank?
Yes, but it cannot be done at the counter. Credit cards can be used to withdraw money in three ways:
1. Withdraw cash in advance: Cash advance is one of the basic functions of a credit card. Cardholders can directly insert the card into the ATM to withdraw money without applying to the bank in advance. The amount of cash withdrawal is generally 50% of the available amount of the credit card.
2. Cash withdrawal in installments: This withdrawal method requires the cardholder to apply to the bank, and the bank will review it. After passing the review, the bank will transfer the money to the bank savings card in the name of the cardholder; if the review fails, the cardholder will not be able to withdraw cash.
3. Overpayment: Overpayment refers to the money on the cardholder's credit card, which can be withdrawn directly from the ATM.
ATM: Credit card ATM cash advance, also known as cash withdrawal, account opening and borrowing instructions are as follows:
Activation: The credit card ATM cash withdrawal function can be opened through mobile banking, online banking, and telephone banking. Borrowing: You can withdraw the cash you need through any ATM (our bank or other banks), or transfer funds to any bank's UnionPay card (not limited to your name). At present, withdrawal by card at the counter is not supported.
Additional cards can be used for telephone cash advance, and the charges are the same as those for credit card cash advances. For cash advance over the phone, the credit card limit can be converted into cash in real time and transferred to the China Merchants Bank All-in-One Card in your name (the account opening requirements for credit cards and all-in-one cards are the same). Wealth accounts, passbooks, payment cards and other non-"all-in-one card" accounts are not applicable.
1. Handling fees and interest will be charged:
1. Handling fee: 1% of each transaction in China, minimum 10 yuan/transaction; minimum fee overseas (including Hong Kong, Macao and Taiwan) ￥30/transaction or $3/transaction (the minimum fee for Centurion Black Gold Card, Centurion Black Gold Card (2012 version), and Centurion Platinum Card is ￥30)/transaction or $5/transaction);
< p>2. Interest: Cash withdrawals do not enjoy interest-free repayment. From the transaction date, interest will be calculated at a daily interest rate of 0.05% until the repayment date, and compound interest will be calculated monthly. For example, if a customer withdraws 2,000 yuan in cash on June 1, a handling fee of 20 yuan will be charged. Interest will be calculated from June 1st, and the customer will repay on June 10th. The principal withdrawal of this note will generate an interest of 10 yuan.2. Warm reminder:
1. Only service fees are charged for withdrawing multiple deposits from your credit card; you can also choose to transfer excess payments for free.
2. There is no charge for activating the cash withdrawal function, and there is no inter-bank service fee for cash withdrawals in the same city or in different places.
This concludes the introduction on whether it is possible to withdraw money with a credit card and whether it is possible to withdraw money with a postal credit card. Did you find the information you need?