Can I withdraw cash from Alipay with a credit card?
Credit cards cannot be used to withdraw cash from Alipay. Cashing out by credit card is illegal and should be strictly stopped.
Regarding the credit card arbitrage behavior that has become more and more serious in recent years, the Shanghai headquarters of the Central Bank stated on July 26, 2010 that cashing out with credit cards is illegal and the central bank is studying how to record the arbitrage behavior of cardholders into the personal credit reporting system and directly affect their personal credit records.
Because credit card users have a maximum of 56 days of "interest-free consumption" period, once the cardholder cashes out, he can use bank loans without paying interest during this "interest-free period".
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The dangers of credit card cash-out
Credit card cash-out has increased instability in my country’s financial order. Our country has a strict access system for financial institutions, and there are a series of strict regulations to monitor the inflow and outflow of funds from financial institutions.
Those criminals unite with merchants to engage in untrue transactions such as swiping credit cards through virtual POS machines, and engage in credit card cash withdrawals in disguise, but they are outside the legal framework and violate the country's legal provisions on financial business franchising. , deviating from the relevant regulations of the People's Bank of China on cash management.
In addition, the increase in bank risks and the formation of a large number of non-performing loans will also destroy the integrity environment of society and hinder the healthy development of the credit card industry. The vast majority of credit cards are unsecured lending instruments. As long as the cardholder makes a purchase, the bank must bear a share of the repayment risk. Therefore, under normal circumstances, banks guard against overdraft risks through high overdraft interest or cash withdrawal fees.
Can the money in the credit card be transferred to Alipay?
You cannot directly transfer the money in the credit card to Alipay. Naturally, there are no interest-free functions. Because Alipay does not support the function of credit card recharge or transfer to Alipay. Alipay discovered that some people were using this method to cash out credit cards, so they canceled the credit card transfer method to Alipay. Of course, the online payment function of credit cards can still be used.
The so-called cashing out of credit cards using Alipay refers to transferring the credit limit of the credit card to Alipay, and then transferring the money from Alipay to the bound savings card, so that the credit limit of the credit card becomes savings. Deposits on the card.
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Credit card payments will not be affected
Alipay actually announced its "closure" two years ago. This move originated from the central bank's decision on May 5 last month. The "Measures for the Management of Internet Payment Business of Payment Institutions (Draft for Comments)" released on the same day, the draft stipulates the implementation of a real-name system for the opening of payment accounts, and clarifies that "customers are not allowed to use credit card overdrafts to recharge payment accounts", which is intended to prevent credit card cash-out and. In addition to Alipay, Tenpay also announced that it will suspend similar services from February 1.
Will stopping using credit cards to recharge Alipay accounts affect online shopping? Alipay said that after closing the channel, users can continue to recharge their accounts with savings cards, while credit card users can pay merchants through various methods such as direct credit card payment, quick payment, and online banking. Daily consumption will not be affected.
If you use a credit card to directly make large purchases, since merchants will be charged a 1% handling fee, many users are worried that "it may lead to cost transfer and trigger a collective price increase." In this regard, Alipay related people said that it started charging fees when it was first launched in 2009, and so far there has been no collective price increase due to this.