It is illegal to cash out the credit card money.

the Shanghai headquarters of the central bank said on July 26th, 21 that it is illegal to cash out credit cards, and the central bank is studying to record the cash-out behavior of cardholders in the personal credit information system, which will directly affect their personal credit records.

according to the Interpretation of Several Issues Concerning the Specific Application of Laws in Criminal Cases of Impairment of Credit Card Management by Liang Gao, cashing refers to the direct payment of cash to credit card holders by means of fictitious transactions, false pricing, cash return, etc. by using point-of-sale terminal equipment (POS machines) in violation of state regulations.

In the Risk Management Rules for Merchants of UnionPay Card Acquirers of China UnionPay, the definition of cashing behavior is: the merchants collude with bad cardholders or other third parties, or the merchants themselves take cash by fictitious transactions.

Extended information:

Cash withdrawal and cash withdrawal at the bank counter or ATM

Cash withdrawal is made at the bank counter or ATM, and the bank needs to pay 3% handling fee for inter-bank transactions, in addition, the bank needs to pay 5/1 interest every day, and the cash withdrawal amount is only 3%-5% of the credit card overdraft limit, so this is limited for those who are in urgent need of funds.

Cash-out is a kind of consumption. After spending by credit card, the merchant gives you the same amount of cash instead of goods. Cash-out is free of interest for 2-56 days, and you can cash out in full or double the amount.

Baidu encyclopedia-cash out