How to withdraw the overpayment from a credit card

After the overpayment occurs on the credit card, you can withdraw it directly from an ATM machine or bank counter. Most banks stipulate the withdrawal of the first few overpayments. They are all free of charge. If there is a handling fee for withdrawing excess payment, we recommend that you use your card directly to spend.

Cash withdrawal at the counter: Cardholders can bring their ID card and credit card to the bank business hall, submit a cash withdrawal application to the counter staff, and then enter the withdrawal password as required to withdraw the money.

Withdrawing cash from an ATM teller machine: Cardholders can bring their credit card to the ATM teller machine, insert the credit card, enter the withdrawal password, and then follow the interface prompts to perform the withdrawal operation.

Overpayment usually occurs when the cardholder deposits too much money into the credit card, which will lead to an overpayment on the card. In fact, using a third-party payment platform for repayment can be accurate to the point. This repayment method will not cause overpayment, but special attention must be paid to the payment time. Many people use this method now. However, now Pudong Development Bank and Bank of Communications credit card users can transfer the overpayment to the bank's debit card name.

In normal times, it is best for cardholders to avoid depositing money into credit cards. Although depositing money into credit cards will not cause actual harm, this is not the main function of credit cards. The main function of credit cards is to encourage When cardholders make purchases and use overpayment to make purchases, the essence of a credit card is lost, and it is also very inconvenient to take it out.

Note: When canceling a credit card, there must be no overpayment in the card. If the credit card is canceled, it will fail. This needs everyone's attention.

Credit card overpayment, no matter what happens?

After the credit card is overflown, if you want to withdraw it, you must charge a handling fee. Each bank has different rules regarding overflow payments and withdrawals. Most banks charge 0.5 to 1 for customers to withdraw credit card overflow payments. If you use overdraft to pay for consumption for a long time, the credit card overdraft limit will be reduced. If there is no overdraft limit for a long time, the credit card may be reduced.

If credit card overflow payments are not processed for a long time, bad debts will form, which will affect the cardholder's future credit card processing, loan applications and other matters. Credit card overflow payment can be spent. As long as the user consumes and pays directly with a credit card, the system will deduct the overflow payment first and then the credit card amount. In addition, overflow payments can also be withdrawn and used, but there is a fee for withdrawing overflow payments, so direct consumption is more cost-effective.

Of course, as long as the user pays attention to credit card repayments and deposits sufficient credit card amount, there will be no problem of additional payment. Credit card overflow deposits will not affect users' use of credit cards, but will mainly affect users' cancellation of credit cards. When a credit card is canceled, there must be no outstanding balance on the credit card, no balance on the card, and no overflow deposit. The employee will ask the user to withdraw the overflow deposit before applying for cancellation. If the user does not cancel the credit card, the overflow deposit on the credit card will have no impact.

Some banks will charge credit card overflow deposit withdrawal fees, which is not cost-effective for users. Users can directly use credit card overflow deposits for consumption or repayment. If a credit card wants to handle credit card sales, there must be no overflow payments on the card. Users can choose to transfer money, withdraw money or swipe their card. The bank will accept credit card sales until there are no overflow payments on the card and the credit card has paid off all outstanding balances. At the same time, after submitting a credit card sales application, the cancellation will not be successful immediately. Users must wait for a 45-day risk period. During this period, the card can only be successfully canceled without any charges. After a credit card is successfully canceled, the card can be restored within a certain period of time. A canceled credit card cannot be restored.

How to deal with the overpayment after canceling a credit card (credit card) account?

There is an overpayment when canceling a credit card (credit card) account. Users can choose to use their credit card (debit card) to spend the overpayment, or they can choose to withdraw the overpayment. As long as the overpayment is used up, the user can continue to handle the credit card (debit card) account cancellation business. In addition, after the credit card (credit card) account is successfully canceled, the canceled card cannot be restored. If you are not sure whether to restore the card later, please select the credit card (credit card) cancellation business.

When canceling a credit card (debit card) account, in addition to the overpayment on the card, the card cannot be in arrears. Any arrears must be paid off before the account can be closed.

How to transfer overpayments from ICBC credit cards

ICBC’s regulations on withdrawal of overpayments: No handling fee will be charged for withdrawing overpayments within the bank or locally.

Methods for transferring out credit card overpayment:

1. Use the overpayment directly for shopping without paying handling fees.

2. Withdraw the overpayment from the local ICBC ATM machine of the bank where the account is opened. ICBC will waive the handling fee.

3. Withdraw the overpayment at the local ICBC counter to avoid handling fees.

4. Transfer the overpayment on your credit card to your ICBC debit card, and then withdraw cash from the debit card. This can also reduce handling fees.

Extended information:

Many banks currently have free policies for withdrawing overpayments on credit cards, but the specific regulations for implementing free withdrawals by each bank still have many differences.

Some banks support the free withdrawal of overpayments at the counter, but there is a fee for withdrawing cash from ATMs. Several banks such as ICBC, Agricultural Bank of China, China Construction Bank, Minsheng, and Shanghai Pudong Development Bank stated that as long as the cardholder withdraws money in the same city as the bank, For overpayment withdrawals, banks will no longer charge handling fees regardless of counters or self-service machines such as ATMs. If it is from another place or across banks, there are still certain fees, similar to debit cards.

As for the handling fees for "overpayment" of cash withdrawals by credit card holders, the charging bank stated that although the credit card holders withdraw their own money, it takes up the bank's relevant resources. Because unlike ordinary debit cards, credit cards are cumbersome in terms of deposit and withdrawal account processing, and credit cards are used to encourage customers to spend, not for cardholders to use them as savings accounts, so the charges are reasonable.

Moreover, "overpayment" does not include interest, and the only advantage is that it increases the cardholder's consumption limit in disguise. If the cardholder wants to increase a certain credit limit, he or she can apply for a temporary limit from the bank's customer service center. There is no need to rely on "overpayment" to increase spending power.