I have a friend who paid off his credit card some time ago. He didn't remember how much he spent and didn't settle the bill in time, so he paid back 5,000 yuan. Later, he checked his bill and found that the current bill was only more than 2,000 yuan. He thought he could withdraw the extra 2,000 yuan directly like a debit card, so he actually cashed it out directly at the bank's ATM.
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Just after withdrawing cash, he received a text message notification from the bank. For cash withdrawals of 2,500 yuan, the handling fee is 25 yuan.
This friend was wondering, why is there still a handling fee for withdrawing excess money? Isn't this a naked robbery?
Afterwards, he called the bank. As a result, the bank customer service MM refused to refund the handling fee on the grounds that the bank had express regulations. He was severely excluded.
In fact, many people withdraw cash after paying off too much on their credit cards. Many people think there is no difference between credit cards and debit cards.
We would like to remind you that credit cards are not debit cards, and there are handling fees for credit card cash withdrawals. Whether you are actually withdrawing cash or withdrawing more money, there will be a handling fee, generally ranging from 0.5-3.
Then the question comes. If you accidentally overpay, why not withdraw the overpaid money without incurring any handling fees?
The overpaid amount can be put on the credit card without taking it out, and then the card can be used as normal. The repayment amount incurred on the next bill can be deducted from the amount of this overpayment.
However, the disadvantage of this is that the money lying on the credit card becomes dead money and cannot accrue interest.
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For credit card overpayments, some banks can directly withdraw cash without charging fees, but most of them only Limited to local banks.
For example, credit card overpayments from banks such as ICBC, China Construction Bank, Bank of China, Bank of Communications, and Minsheng Bank can be withdrawn at local banks (over the counter or ATM) without any handling fees;
Shanghai Pudong Development Bank The local branch stipulates that withdrawals are free. Our ATM withdrawal fee is 0.5 yuan, with a minimum charge of 5 yuan.
If it is a non-bank cash withdrawal, a certain handling fee may be charged. For example, ICBC will recover every 2 yuan collected across banks; China Construction Bank will charge a handling fee of 1 for off-site collection, with a minimum of 2 yuan and a maximum of 50 yuan;
China Guangfa Bank collects credit card overpayments through any channels There are no handling fees.
China Everbright Bank takes out the service fee from our bank, and other banks take out the service fee of 1 yuan, with a minimum of 3 yuan and a maximum of 200 yuan.
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If you accidentally overpay, some banks can also withdraw cash through ATMs and counters. Online banking transfer to our debit card.
Different banks have different policies for overpaying online banking transfers. Specific cardholders can call the bank’s customer service number to inquire. Related Q&A: Is there any impact if you pay too much on your credit card? There is no impact if you pay too much on your credit card. 1. Extra money on a credit card is called overpayment. You can withdraw the overpayment or leave it on the credit card to pay off the next credit card bill. 2. However, please note that there is a handling fee for withdrawing overpayment from a credit card. Different banks have different charging standards for credit card overpayment cash withdrawal fees: the minimum fee ratio ranges from 0.5 to 3, the minimum basic fee ranges from 1 yuan to 30 yuan, and the maximum cap fee ranges from 50 yuan to 500 yuan. Some banks even only have the lowest fee. There are no fees, and the maximum fee is not capped. If the cardholder wants to withdraw the excess deposited money, he may need to pay a considerable amount of handling fees. 3. Therefore, if the overpayment amount is not particularly large, you can keep it in the credit card to pay the next bill, so as to avoid paying the overpayment cash withdrawal fee.
Related Q&A: What happens if you pay too much on your credit card?
When it comes to the precautions for using credit cards, the first thing that everyone thinks of is to repay the loan on time and communicate with the bank in a timely manner, otherwise it will affect the personal credit record. Today I will introduce to you two common misunderstandings when using credit cards.
Myth 1: You can repay more with a credit card
For convenience, many cardholders will directly repay in whole numbers when repaying, for example, if the debt is 950 yuan, the repayment is 1,000 yuan. This extra 50 yuan is called credit card overpayment. Some people even use credit cards as debit cards and deposit cash into the credit cards, resulting in large overpayments.
Overpayment 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, it will not form an overdraft.
However, this method of using credit cards is not advisable. It not only affects your own income, but may also affect your personal credit report. First of all, a credit card is different from a general debit card. Not only does the overpayment not include interest, but when you withdraw it, you usually have to pay a handling fee of 0.5-2 according to the credit card cash withdrawal. The fee for overseas cash withdrawal is higher. This is not a good deal for cardholders.
Generally speaking, cash withdrawal fees are basically charged for ATM withdrawals. The usual standard is 0.5 of the cash withdrawal amount, with a minimum of 5 yuan; overseas cash withdrawal fees are higher. If you make a withdrawal at an ATM machine with an overpayment, you will still be charged a cash withdrawal fee according to the credit card withdrawal standards. In this case, it is recommended that the cardholder transfer the overpayment on the credit card to the bank's debit card and then withdraw cash from the debit card. This reduces handling fees.
Secondly, overpayment may also affect credit card limit increases. If there is an overpayment in a credit card, it is easy for the bank to determine that the funds are sufficient. There is not much demand for funds, and it is relatively difficult to increase the limit. Finally, if there is an overpayment on the credit card and the cardholder has not used the credit card for a long time, a bad debt overpayment may appear in the personal credit record.
In fact, banks do not encourage cardholders to add more money to their credit cards, because credit cards adopt a "spend first, repay later" model. For overpayments, if the amount is not large, you can solve it through daily consumption. If the amount is larger and you do not want to pay a large handling fee, you can go to the bank counter to withdraw it or transfer it to the bank's debit card. You can ask the bank for specific operations.
Myth 2: Credit card installment, the earlier the repayment, the better
More and more people are applying for credit cards and making early purchases, but everyone’s attention is basically focused on the annual fee , installment fees, overdue penalty interest and other fees, few people have noticed a detail: early repayment of credit card installments will charge handling fees or liquidated damages for the remaining period.
Generally speaking, the more installments, the lower the rate per installment and the higher the total cost. Taking a state-owned bank as an example, there are 3 installments, 6 installments, 9 installments, etc., and the corresponding service rates are 2.17, 3.80, and 5.42 respectively. In other words, if 20,000 yuan is divided into 3, 6, and 9 phases, the handling fees for each phase are 145 yuan, 127 yuan, and 120 yuan respectively, and the total handling fees are 434 yuan, 760 yuan, and 1,084 yuan respectively. .
In order to save the total handling fee, some people have the idea of ??"early repayment", but this may not be a good choice, because if the loan is repaid early, the bank will charge liquidated damages. Taking a joint-stock bank as an example, when a credit card is repaid in advance, if the handling fee is collected in one go, the handling fee collected will not be refunded; if the handling fee is collected in installments, the handling fee already collected will not be refunded, and the remaining unpaid principal will be collected. Gold 3. All in all, everyone should still follow certain rules when using credit cards to avoid unnecessary fees and negative impacts!
For overdue credit cards, negotiated repayment, debt planning and restructuring, legal consultation on overdue debts, and repayment negotiation plans, you can consult Yiyou Legal.