Can I use my credit card limit to purchase foreign exchange by myself?

No, you can use the credit card limit for overseas consumption, but the prerequisite is to use Visa or MasterCard. You cannot use a credit card to purchase foreign exchange. If you purchase foreign exchange, you need to use a debit card!

Can you introduce to me how to purchase and repay foreign exchange with a Bank of China credit card?

For repayment of foreign currency purchases, you need to have a balance in your foreign currency account. Use the RMB deposit amount after paying off historical bills to repay the foreign currency debt. Foreign currency purchases can be made from any credit card foreign currency account under the same customer's name, but foreign exchange purchases and repayments cannot be made between the main and supplementary cards of the Bank of China series.

The above content is for your reference, please refer to actual business regulations.

If you have any questions, please feel free to consult Bank of China’s online customer service.

You are sincerely invited to download and use Bank of China Mobile Banking APP or Bank of China Cross-border GOAPP to handle related businesses.

Can I use a credit card to purchase foreign exchange?

Yes.

One of the great advantages of applying for a foreign currency credit card is that you do not need to transfer large amounts of funds to a bank account in the United States. If you do so, you will be charged a large wire transfer fee.

You can even return it on your behalf. And since it is just a credit card repayment, it does not occupy the annual foreign exchange purchase limit of US$50,000, which is also an additional benefit.

What is the business of foreign exchange purchase and repayment with Bank of China credit card?

Repayment of foreign currency purchases with Bank of China credit card:

1. If there is a debt in the foreign currency account of your main credit card or supplementary card, you must pay off the debt in the RMB account of the current bill. , you can use multiple deposits in the RMB account to purchase foreign exchange to repay the outstanding debts recorded in the foreign currency account.

2. Credit card purchases and repayments require that your card status is normal.

3. The amount of RMB foreign exchange that can be purchased on all cards under the same person’s name can be purchased and repaid in foreign currency accounts, but foreign exchange cannot be purchased and repaid between the main card and the supplementary card of the Bank of China series credit cards.

4. If your card has applied for cash installment business, the cash installment amount will be regarded as a cash transaction when it is not included in the bill. The amount deposited in the current period will be affected and cannot be transferred out in full. Please be informed!

The above content is for your reference, please refer to actual business regulations.

If you have any questions, you are welcome to consult the Bank of China online customer service or download and use the Bank of China mobile banking APP to consult and handle related services.

Can Bank of China credit cards be used to purchase foreign exchange?

Yes, according to the "Notice on Issues Concerning the Management of Bank Foreign Currency Cards" newly promulgated by the State Administration of Foreign Exchange, for domestic card overdrafts, For the foreign exchange advances formed, if the cardholder can issue a transaction statement under the foreign currency card provided by the card-issuing financial institution, the cardholder is allowed to repay it with foreign currency cash and foreign exchange deposits or use RMB funds in accordance with the requirements for convertibility under the current account. Purchase foreign exchange to repay.

This means that residents without foreign exchange income can safely use international cards for overdraft consumption when traveling and shopping overseas without having to worry about foreign exchange repayment after returning.

It is reported that starting from June 1st, whether you use Bank of China credit cards and China Merchants Bank credit cards overseas to make purchases or withdraw foreign currency cash, as long as they meet the convertible items and requirements stipulated in the "Notice", you can Use RMB to purchase foreign exchange and repay, thus becoming a credit card in the true international standard sense.

Can I use a credit card to purchase foreign exchange?

The meaning of foreign exchange purchase by credit card is a transfer transaction, which is to exchange the local currency on the account for foreign currency, which is equivalent to foreign exchange trading. The converted foreign currency will still be on the account or bank card, and no cash will be withdrawn. For credit card purchases and repayments, when cardholders swipe international cards to make purchases abroad, they use the international credit card channel. The local currency consumed will be recorded in the foreign currency account of the credit card in the form of U.S. dollars and other foreign currencies. When returning, the cardholder needs to purchase foreign exchange. to repay.

For more information about the meaning of whether a credit card can be used to purchase foreign exchange, go to: View more content

This ends the introduction about the inability to purchase foreign exchange with a credit card and the inability to purchase foreign exchange with a visa card. Don't know if you found the information you need?