Category: Business/Financial Management>> Banking Business

Analysis:

The day after the merchant settles the account is the bank's "accounting day". The last working day of each month is the "statement date", and 20 days after the statement date is the "repayment date".

For example, if you use a Great Wall credit card to make an overdraft payment at a shopping mall on May 11, then May 12 will be the accounting day of Bank of China, and May 31 will be the day Bank of China sends the bill to the customer. On the monthly statement date, the last interest-free repayment date for this overdraft consumption transaction is June 20, so the interest-free repayment period for this transaction is 40 days. By analogy, if the payment is made on May 1, the final repayment date is June 20, which means that the transaction can enjoy a 50-day interest-free period.