Can I transfer money to a credit card?
Transfers can be made to a credit card. Transferring money to a credit card is equivalent to paying off the credit card. If the current bill has been paid off, the money transferred to the card will become an overpayment. When using a credit card to make purchases, the system will deduct the overpayment first. After the overpayment is deducted, the available credit limit of the credit card will be deducted.
Transfer (transferaccounts) refers to a bank currency settlement method that does not use cash directly, but transfers money from the payment account to the receiving account through the bank to complete currency collection and payment. It gradually developed with the development of the banking industry. When the settlement amount is large and the distance is long, using transfer settlement can make it safer and faster. In modern society, the vast majority of commodity transactions and currency payments are conducted through transfer settlement.
On March 28, 2019, the requirement for transfers to arrive after 24 hours will be cancelled, and real-time arrival will be implemented.
There are many methods for transfer settlement, which can be mainly divided into two categories: intra-city settlement and long-distance settlement. Intra-city settlement includes check settlement, payment power of attorney settlement, intra-city collection and commitment settlement, collection without commitment settlement and limit check settlement, etc.; out-of-city settlement includes remote collection and commitment settlement, off-site entrusted collection settlement, exchange settlement, and credit settlement. Warranty settlement and limit settlement, etc.
Domestic commercial banks have successively opened their own mobile banking. For example, China Merchants Bank has launched a three-year free mobile banking transfer and remittance activity. Mobile banking contract customers who use the iPhone version, Android version, HTML web version of mobile banking or iPad banking to handle transfers and remittances between China Merchants Bank in the same city, different places between China Merchants Bank, inter-bank same city, and inter-bank long-distance transfers can enjoy the benefit of free transfer and remittance fees.
On February 25, 2016, the five banks, ICBC, ICBC, ICBC, China Construction Bank and Communications Bank, held a joint press conference on “Strengthening Account Management and Promoting Inclusive Finance”. Handling fees are waived for domestic RMB transfers and remittances handled by customers through mobile banking, and handling fees are waived for domestic RMB online bank transfers and remittances of less than 5,000 yuan to reduce customer expenses.
Banks handling transfer settlements and units handling transfer settlements at banks should abide by the principles of clearing both money and goods, safeguarding the legitimate rights and interests of both payers and recipients, and not allowing banks to advance funds. In addition, transfer settlement should also comply with relevant national regulations.
How to transfer funds from bank cards to credit cards
1. Bank savings cards can be transferred to credit cards, but credit cards cannot be transferred to savings cards. Credit cards can only be used for consumption and cash withdrawals, and only cash withdrawals. Only then can you deposit it into your debit card. A savings card is a financial transaction card issued by a bank to provide financial services to depositors. It is a type of debit card.
2. The main function of the savings card is savings deposits. Cardholders can realize card consumption, ATM cash withdrawals, and transfers through the electronic payment network established by the bank and the magnetic stripe reading and manual password entry of the card. , all kinds of payments, expenses made through cards are equal to the reduction in the balance of the savings account.
3. Credit card is a non-cash payment method and a simple credit service; a credit card is generally a plastic card with a length of 85.60 mm, a width of 53.98 mm, and a thickness of 1 mm. It is issued by a bank or credit card company in accordance with the The user's creditworthiness and financial resources are issued to the cardholder. The cardholder does not need to pay cash when using the credit card and will repay the payment on the settlement date.
Expansion: There are three different ways to transfer funds from credit card to debit card, and the handling fees are also different.
1: Overpayment transfer
The so-called credit card overpayment transfer means that you have to transfer out excess money on your credit card, which is actually equivalent to claiming back the overpayment. Regarding overpayment recovery, we have written relevant articles before. Some credit cards are free of charge, such as China Guangfa, China Construction Bank, etc. Some bank credit cards are free of charge through designated channels, such as China Merchants Bank credit cards, which can be recovered to the person through the Palm Life APP. Debit cards are free of charge. But there are also many that charge a handling fee, usually 0.5-3.
2: Receiving an overdraft transfer is equivalent to a cash advance
You can transfer funds to any bank’s UnionPay card at designated bank ATMs in designated cities (some banks are limited to personal names) (below), real-time payment. The prerequisite is that you must have a debit card from the bank and open one of telephone banking, online banking and mobile banking.
In addition to handling fees, this type of transfer will also charge interest. From the date of transfer, interest will be calculated at 50,000% of the daily transfer amount. Moreover, the amount that can generally be transferred is 50% of the credit limit, and there is a daily upper limit.
3: Credit card cash installment transfer
The so-called credit card cash installment means that the bank can grant the cardholder an amount beyond the limit based on the cardholder’s credit limit and card usage record. A credit limit used for specified types of merchant purchases. After the cash installment is successfully processed, the money will be transferred to the debit card in the name of the cardholder. This can be transferred out, but there is a handling fee for handling this business. Each bank's cash installment handling fee charging standards are different, and the specific regulations are subject to the bank's regulations.
Can the money in the bank card be transferred to a credit card?
It can be transferred, but it is not recommended because a handling fee will be charged when withdrawing it.
Take the overpayment fee of China Merchants Bank as an example:
When the amount deposited into the credit card exceeds all the outstanding balances in the account, the excess amount is called "overpayment" , will be automatically deducted from subsequent credit card purchases.
Cardholders can also call our credit card service hotline to claim back the overpayment by transferring funds to their debit card. The account name and ID number of the debit card used must be consistent with that of the credit card. Overpayments in US dollars can only be claimed with the China Merchants Bank All-in-One Card.
How to get it back: Call the credit card service hotline, verify your identity, and press 9 to be transferred to a customer service specialist.
Overpayment recovery handling fee: 0.5 of the amount recovered, with a minimum of RMB 5 or US$1 and a maximum of RMB 50 or US$10.
Extended information:
Introduction to overpayment
Overpayment refers to the funds overpaid by credit card customers when repaying or the funds deposited in the credit card account , a certain amount of fees will be charged for withdrawing the excess payment. This amount can increase the available limit of your credit card or be used directly for consumption repayment.
If there is an overpayment on the credit card, the overpayment will be deducted first and then the credit limit. If the overpayment is greater than the consumption amount, there will be no overdraft. No interest is accrued on overpayments.
Reference materials:
China Merchants Bank - Overpayment Refund
Baidu Encyclopedia - Overpayment
Can I transfer funds via bank card? Repay on a credit card
You can use a bank card to transfer money to a credit card for repayment. When there is an unpaid balance on the credit card, transferring money to the credit card account is equivalent to repaying the credit card.
In addition, you can also automatically repay credit cards by binding credit cards and bank cards, which can prevent users from overdue repayments. However, it should be noted that although automatic repayment is convenient, you must ensure that there are sufficient funds in the debit card associated with the credit card. Otherwise, the credit card will face full penalty interest.
Extended information
Free credit card repayment methods:
1. Cloud QuickPass
Use the "Cloud QuickPass" APP to make credit card payments Repayments and transfers are free.
In terms of credit card statement inquiry, 66 banks including Agricultural Bank of China, Bank of China, China Construction Bank, Postal Savings Bank, China Everbright, CITIC, Shanghai Pudong Development Bank, Minsheng, Huaxia, Ping An, Guangfa, Industrial Bank, Bank of Beijing, and Bank of Shanghai have gone online. , together with functions such as credit card repayment, preferential entitlement inquiry, card application service, mobile QuickPass activation and other functions, it creates a convenient, fast, labor-saving and worry-free full-process credit card service for users.
2. Most card-issuing bank APPs
Repaying through China Merchants Bank APP and Palm Life APP also has three major advantages. First of all, compared with third-party platforms, repaying a credit card requires a process, and different banks have different arrival times. Using the China Merchants Bank APP or Palm Life APP to repay not only has zero handling fees, but can also be credited in 1 second. Secondly, these two major APPs not only support credit card repayment from China Merchants Bank, but also support credit card repayment from other banks with zero handling fee.
Finally, if you are worried about forgetting to repay and causing your credit card to become overdue, you can also use the scheduled repayment function, as long as you ensure that the debit card you debit has a corresponding balance before the repayment date.
People's Daily Online - Don't forget to sort out the "variety" of credit card bill repayment methods after the holidays
People's Daily Online - What other channels are free for credit card repayments
This ends the introduction on whether bank cards can be transferred to credit cards and whether bank cards can be transferred to credit cards. Did you find the information you need?