Can the money transferred to a credit card be withdrawn?

The money transferred to a credit card can be withdrawn. After cardholders transfer excess money to their credit cards, they can log in to the card-issuing bank's APP to transfer the excess funds directly. However, if the cardholder withdraws the money deposited in the credit card, he will need to pay a certain handling fee. Funds deposited into a credit card but not used for repayment are called overpayments. Fees are charged for withdrawing overpayments.

A credit card, also called a 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 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.

Types of credit card products

1. According to different card issuers

It can be divided into bank cards and non-bank cards. This is a credit card issued by a bank. Cardholders can shop at the card-issuing bank's special merchants, and can also withdraw cash at any time at any branch of the card-issuing bank or at places with ATMs. Not a bank card. Such cards can be specifically divided into retail credit cards and travel and entertainment cards. Retail credit cards are credit cards issued by commercial institutions, such as department stores, petroleum companies, etc., which are specially used for shopping in designated stores or refueling at gasoline stations, etc., and are settled regularly. Travel and entertainment cards are credit cards issued by the service industry, such as airlines, travel companies, etc., used for purchasing tickets, meals, accommodation, entertainment, etc.

2. According to the different objects of issuance,

can be divided into corporate cards and personal cards. Corporate cards. Company cards are issued to various industrial and commercial enterprises, scientific research and education institutions, national party and government agencies, military units, groups and other legal entities. Personal card. Personal cards are issued to urban and rural residents, including workers, cadres, teachers, scientific and technological workers, self-employed households and other adult urban and rural residents with stable sources of income. A personal card is applied for in the name of an individual and he/she bears all responsibilities for using the card.

Can the money transferred to a credit card be transferred out?

Money transferred to a credit card can be transferred out. When transferring out, you only need to find the cash transfer in the APP of the card-issuing bank. Exit the function, and then transfer the money to the debit card according to the system prompts.

However, it should be noted that excess money transferred to a credit card is called overpayment. Although banks support the withdrawal of overpayment, most banks will charge a transfer fee. For example, Agricultural Bank of China charges 1% of the cash withdrawal amount for overpayment withdrawals, Industrial Bank charges 0.5% of the cash withdrawal amount for overpayment withdrawals, and Ping An Bank charges 5‰ of the cash withdrawal amount for overpayment withdrawals.

The reason why overdraft transfers require handling fees is because credit cards will incur corresponding cash management costs when making cash withdrawals and transfers. However, since the original intention of credit cards is to encourage overdraft consumption, deposits and withdrawals Money is not its main function, so there is no interest on deposits, and corresponding handling fees are charged for withdrawals.

Finally, it is recommended that you spend the extra money transferred from your credit card directly to avoid unnecessary cash withdrawal fees.

A credit card is a credit certificate issued by a commercial bank or credit card company to consumers with qualified credit. The form of a credit card is a card with the name of the card-issuing bank, validity period, number, cardholder name, etc. printed on the front. Consumers holding credit cards can go to a special commercial service department to shop or consume, and then the bank will work with the merchant and the cardholder to The cardholder can make an overdraft within the prescribed limit.

Characteristics of credit cards:

(1) Credit cards are one of the fastest growing financial services today. It is an electronic payment method that can replace traditional cash flow within a certain range. Currency;

(2) Credit cards have both payment and credit functions. Cardholders can use it to purchase goods or enjoy services, and can also obtain certain loans from card issuers by using credit cards;

(3) Credit cards are high-tech products that integrate financial services and computer technology.

(4) Credit cards can reduce the use of cash;

(5) Credit cards can provide settlement services, facilitate shopping and consumption, and enhance a sense of security;

( 6) Credit cards can simplify payment procedures and save social labor;

(7) Credit cards can promote product sales and social demand.

Can the money transferred to the credit card be transferred out?

It can be transferred out. If the money saved in the credit card is not used to repay the used limit, it will be directly deposited in the credit card. It's called overpayment. Cardholders can withdraw the money through cash machines or transfer it to their bank cards through the bank transfer system.

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.

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).

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.”

Main features:

Pre-deposit of cash is not encouraged, consumption first and repayment later, enjoys an interest-free repayment period, can be repaid in installments (with a minimum repayment amount), and join VISA , MasterCard, JCB and other international credit card organizations so that it can be used globally. It is one of the fastest growing financial services today and is an electronic currency that can replace traditional cash circulation to a certain extent.

Has both payment and credit functions. Cardholders can use it to purchase goods or enjoy services, and can also obtain certain loans from card issuers by using their credit cards. It is a high-tech product that integrates financial services and computer technology. Can reduce the use of cash currency.

It can provide settlement services to facilitate shopping and consumption and enhance the overall experience. It can simplify the collection procedures and save social labor. Can promote product sales and social demand.

Can I withdraw money after transferring it to a credit card?

You can transfer money to a credit card and withdraw it. It should be noted that the money transferred to the credit card is called overpayment, and although banks support the withdrawal of overpayment, most banks will charge a transfer fee.

The reason why overpayment transfers require handling fees is because credit cards will incur corresponding cash management costs when making cash withdrawals and transfer operations. However, since the original intention of credit cards is to encourage overdraft consumption, deposits and withdrawals are not Its main function is that there is no interest on deposits, and corresponding handling fees are charged for withdrawals.

Extended information

Main features of credit cards:

1. It is not encouraged to deposit cash in advance, consume first and repay later. It enjoys an interest-free repayment period and can make installments independently. Repay (there is a minimum repayment amount), and join international credit card organizations such as VISA, MasterCard, JCB, etc. for global use.

2. It is one of the fastest growing financial services today and is an electronic currency that can replace traditional cash circulation within a certain range.

3. It has both payment and credit functions. Cardholders can use it to purchase goods or enjoy services, and can also obtain certain loans from card issuers by using their credit cards.

4. It can provide settlement services to facilitate shopping and consumption and enhance a sense of security.

5. It can simplify the collection procedures and save social labor.

6. Can promote product sales and social demand.

That’s it for the introduction of whether money transferred to a credit card can be withdrawn.