Is there any handling fee for credit card swiping?
There is no handling fee for credit card swiping.
When you go to consume and you are asked to charge a handling fee, then don’t buy. This is unreasonable consumption.
The "Bank Card Acquiring Business Management Measures" formulated by the People's Bank of China stipulates that it is illegal to charge cardholders additional fees in disguised form due to their use of bank cards (including credit cards). Consumers can complain about violations by merchants.
: Credit cards are divided into credit cards and quasi-credit cards. Credit cards are issued by banks and give cardholders a certain credit limit. The cardholders can consume within the credit limit and then repay later. A credit card for making payments; a quasi-credit card refers to a quasi-credit card issued by a bank. The cardholder deposits a certain amount of reserve as required. When the reserve account balance is insufficient for payment, the quasi-credit card can be overdrawn within the prescribed credit limit. The so-called credit card generally refers to a credit card only.
Credit cards stipulated in the relevant laws of our country ("Interpretation of the Standing Committee of the National People's Congress on the Provisions on Credit Cards of the People's Republic of China and the Criminal Law of the People's Republic of China") refer to credit cards issued by commercial banks or other financial institutions. An electronic payment card with full or partial functions such as consumer payment, credit loan, transfer settlement, cash deposit and withdrawal, etc.
How to use credit card without fees? It is said that this is good
In real life, many people like to use credit cards to make purchases, which also requires a handling fee. Although it is borne by the merchant, many people use POS machines to maintain their cards. , I definitely hope that I can swipe my card free of charge. In fact, there are still methods, but they are rare. Here I will introduce them to you.
1. First, let’s talk about the credit card swiping fee
For regular UnionPay POS machines, after the 96 fee change, the cap on the credit card swiping rate is cancelled. The standard rate is that of a third-party POS machine. If you want to clear the machine, a few dollars of handling fee will be added to the standard rate. It depends on the services provided. For example, the rate for T0 payment is high, while the rate for T1 payment is relatively low. The second clearing fee is lower but the code often jumps.
The rates are also different depending on the card swiping method. For example, in addition to swiping and inserting cards, QuickPass POS machines can also make contactless payments. You can use the QuickPass POS machine to tap your credit card or call up the second card on your mobile phone. Passively swipe the QR code, and single transactions not exceeding 1,000 yuan will be charged according to the rate. After checking, the original rate will be restored.
2. Next, look at the fee-free method for swiping credit cards
Many banks and UnionPay work together to integrate payment methods. Use your mobile phone to scan the QR code to swipe your credit card. Usually, as long as the merchant has money in the settlement card, Card swiping fees can be waived.
It is known that there is Hula payment from banks when repaying, and it supports e-bank payment, WeChat, and Alipay scan code payment. Cardholders use their mobile phones to scan the QR code to pay, choose any of the payment methods, and use the bound credit card to complete the payment. How much the consumer swipes the card will be credited to the merchant's settlement card, and no handling fee will be charged. .
The above is the relevant introduction to the "Method for swiping credit cards without handling fees". Finally, I would like to remind you that the fee-free method for swiping credit cards requires real merchants, and the qualification review of merchants is relatively strict, so not everyone can enjoy it.
Is there any handling fee when using a POS machine to swipe a credit card?
There is no handling fee for cardholders to use a POS machine with their credit card.
According to bank regulations, the credit card swiping fee does not need to be paid by the cardholder. The POS machine card swiping fee is borne by the merchant. The handling rates are different in different industry types. The POS machine card swiping fee is based on the merchant's business. According to the industry and scope of licensed business, the card processing fee will be deducted from the merchant's account.
Credit card installment payment means that when the cardholder uses a credit card to make large purchases, the card-issuing bank pays the merchant a one-time payment for the goods (or services) purchased by the cardholder. Apply to deduct consumption funds in installments from the cardholder's credit card account, and the cardholder will repay according to the monthly credit amount.
In the past, credit card installments mainly included bill installments and single consumption installments. Banks usually charged corresponding handling fees based on the number of installments. Whether it is bill installment or single consumption installment, the premise is that consumption behavior occurs first, and then the bank sets the installment repayment of the credit loan generated.
Most banks in China have credit card installment services. Installments are generally divided into shopping mall (POS) installments, "mail order installments" and bill installments through the Internet, mail, etc. depending on the occasion. .
Shopping mall installment, also known as POS installment, means that cardholders go to shopping places, such as "malls" where installment can be purchased. When checking out, please show a credit card that supports installment payment at the mall and indicate that you need to pay in installments. The cashier will swipe the card on a dedicated POS machine according to the number of issues required by the cardholder (such as 3 issues, 6 issues, 12 issues, etc., a few shopping malls support 24 issues).
Note: Cardholder identity verification is required when making installment purchases in shopping malls, so remember to bring your ID card. Shopping mall installments are generally free of charge for three installments. The rates for 6 and 12 periods vary from bank to bank. Installment products can generally be purchased as long as they are normally sold in the shopping mall. In many cases, cardholders can also bundle multiple items together for checkout and then make installment payments.
Mail-order installment means that the cardholder receives an installment mail-order catalog brochure from the card-issuing bank (or the bank's online installment mall) and can choose from limited products. Then order through the online installment mall, call or fax the mail order installment application form, etc. to the bank for installment mail order.
There is generally no handling fee for mail order installments regardless of the number of installments. However, due to the long ordering cycle (in many cases it will take more than 15 working days to get the product) and the relatively cumbersome return and exchange process, it is recommended to do more comparisons before purchasing.
Bill installment is the most convenient installment method. Basically, all card-issuing banks can support this installment method, and the application is simple. Users only need to submit an installment application to the card-issuing bank by phone or other methods after swiping their card for consumption and before monthly bills are sent.
However, please note that each bank will stipulate some special cases. For example, speculative card swiping will not be successful in installments. So before proceeding with staging, be sure to read the staging manual carefully. The disadvantage of bill installment is that the handling fee is not waived. The longer the number of installments, the higher the handling fee, which must be borne by the cardholder himself.
That’s it for the introduction on how to swipe credit cards without fees.