If a credit card is applied for automatic repayment, will the money be automatically deducted from the repayment card on the repayment date? .
Yes. After selecting the automatic repayment function, provide your debit card, credit card, current savings account, etc. or account number, and you can complete automatic repayment before the due payment date. Set it up once and forget it.
Automatic transfer repayment details
1. The repayment transfer-out account must be owned by the credit card holder, such as the ID number and name of the credit card account and the ID number of the transfer-out account. If the name is inconsistent with the name, the deduction will fail.
2. You can choose "full repayment" or
"minimum repayment amount" for automatic transfer repayment. If you choose the minimum repayment amount, You will continue to enjoy revolving credit, but you will no longer enjoy interest-free repayment. After the automatic transfer repayment is successfully set up, Bank of China will provide partial deduction and re-deduction services according to the agreed repayment amount you set.
Partial deduction service: When the associated repayment account cannot repay the agreed repayment amount in full, the transferable balance of your associated repayment account will be used as the repayment amount for deduction.
Re-deduction service: When the first automatic repayment does not meet the agreed repayment amount, the payment will be deducted from your associated repayment account again one day before the expiration date of the due repayment grace period.
3. For foreign currency balances, you can choose "all balances to be repaid in RMB" or "RMB and foreign currency balances to be repaid in the corresponding currency account".
If you select "All outstanding balances will be repaid in RMB", you can easily enjoy the automatic foreign exchange purchase and repayment service. If your associated repayment transfer account is Great Wall Credit Card, the exchange rate will be the foreign exchange rate announced by our bank on the day of deduction; if the associated repayment transfer account is another account, the exchange rate will be the exchange rate announced by our bank the day before the deduction date. the foreign exchange quotation.
If you do not need to purchase foreign currency for repayment, select "Repay RMB and foreign currency balances in corresponding currencies respectively". We check the balance of the repayment account in the order of cash first and remittance later, and debit the account with sufficient balance first. When none of your associated repayment accounts can repay the agreed amount in full, we will first select the account with the larger balance in the bank account or remittance account to deduct the money.
Extended information
Notes on automatic transfer repayment
First, if the credit card holder has a debit card bound to the agreed account repayment, then in Before the due repayment date, ensure that the associated savings card is in normal condition and the amount is sufficient, and the agreed account repayment will be automatically made when due.
Second, when repaying a linked savings account, the default is to repay in full. If the cardholder intends to repay the minimum repayment amount in each period, he can inform customer service and change the repayment mark when binding.
Third, paying the minimum repayment amount on time will not affect the cardholder’s current credit record, but interest will be charged on the entire bill.
Reference source: Bank of China official website - Credit card repayment guide
How to repay foreign currency automatically when a Bank of China credit card is bound to it?
For foreign currency balances, you can choose "all balances to be repaid in RMB" or "RMB and foreign currency balances to be repaid in the corresponding currency account".
If you select "All outstanding balances will be repaid in RMB", you can easily enjoy the automatic foreign exchange purchase and repayment service. If your associated repayment transfer-out account is a Great Wall Credit Card, the exchange rate will be the foreign exchange rate announced by Bank of China on the day of deduction; if the associated repayment transfer-out account is another account, the exchange rate will be the foreign exchange rate announced by Bank of China on the day before the deduction date. Price.
If you do not need to purchase foreign exchange for repayment, select "Repay the RMB and foreign currency balances in the corresponding currencies respectively" (if the repayment account is a current one-way account, the RMB and foreign currency debit accounts can be same account). We check the balance of the repayment account in the order of cash first and remittance later, and debit the account with sufficient balance first. When none of your associated repayment accounts can repay the agreed amount in full, we will first select the account with the larger balance in the bank account or remittance account to debit the amount.
The above content is for your reference, please refer to actual business regulations.
If you have any questions, please feel free to consult Bank of China’s online customer service.
You are sincerely invited to download and use Bank of China Mobile Banking APP or Bank of China Cross-border GOAPP to handle related businesses.
Is the automatic repayment bound to my Bank of China credit card effective?
Automatic repayment of Bank of China credit card:
1. Automatic repayment is linked to the Bank of China account, and the repayment is changed two days before the due payment date (excluding the day of deduction) Methods, such as repayment amount options (full or minimum), repayment account options for repayment (in RMB or RMB and foreign currencies respectively), repayment account numbers (in RMB or foreign currencies), please set the automatic repayment settings in the text message sent to take effect. The time shall prevail. If the setting is successful, it will take effect in the current bill. Please pay attention to the deduction text message. If the text message prompts that the deduction has failed or the text message has not been received, please contact the Bank of China Credit Card Customer Service Hotline 4006695566 in time and make proactive repayment on time.
2. Automatic repayment is linked to the Bank of China account, and the repayment method is changed within two days before the due repayment date (excluding the day of deduction), such as repayment amount options (full or minimum), For the repayment account options, repayment (in RMB or RMB and foreign currency respectively) and repayment account number (in RMB or foreign currency), please refer to the effective time in the automatic repayment setting text message sent. If the setting is successful, it will take effect in the next bill. Please pay attention to the deduction text message. If the text message prompts that the deduction failed or the text message is not received, please contact the Bank of China Credit Card Customer Service Hotline 4006695566 in time and make proactive repayment on time.
3. If you set up a debit card from another bank, it is recommended that you change your settings through the Bank of China Colorful Life APP.
The above content is for your reference, please refer to actual business regulations.
If you have any questions, please feel free to consult Bank of China’s online customer service.
You are sincerely invited to download and use Bank of China Mobile Banking APP or Bank of China Cross-border GOAPP to handle related businesses. [img]
How to bind a credit card (credit card) for automatic repayment
Users can apply to the bank for automatic repayment of a credit card (credit card), and the bank will transfer a savings The card is bound to a credit card (credit card). On the repayment date, the system will deduct money from the savings card and deposit it into the credit card (credit card). This completes the automatic repayment of the credit card (credit card). . Of course, the automatic repayment function has advantages and disadvantages. The advantage is that it prevents users from forgetting to repay and cause overdue payments. The disadvantage is that when the repayment amount is insufficient, the system will actively deduct money from the savings card to run the repayment.
Therefore, whether to activate the automatic repayment function of a credit card (debit card) mainly depends on the user's repayment needs.
How to set up automatic credit card repayment
Credit card automatic repayment can be set up at bank counters, online banking APPs, and third-party payment platforms. Bank counter settings: Take your ID card, credit card, and bank card to the branch of the bank where you open a credit card account, and set it up through the bank teller. Automatic repayment requires a credit card to be bound to a savings card. After setting the repayment date, the payment will be automatically deducted from the bound savings card, so users do not need to manually repay.
Online banking APP settings: Take the Mobile Life 8.5.10 version of China Merchants Credit Card, Apple 13 (IOS15.2 system), and Huawei mate40 (HarmonyOS2 system) as examples. 1. After logging into the APP, search for "Reservation Repayment" on the homepage and click to enter.
2. Select "RMB Settings" in the new page.
3. Set the repayment cycle and repayment date on the new page, and select "Repay in Full" and the order of deductions.
4. If you have not bound a bank card before, you need to add a bank card in the options.
5. After adding the bank card, click "Agree Agreement and Setup" below.
Third-party payment platform settings: Take Alipay version 10.2.50, Apple 13 (IOS15.2 system), and Huawei mate40 (HarmonyOS2 system) as examples. Alipay automatic repayment: 1. The user opens Alipay and Search "credit card repayment" on the homepage to enter the official service.
2. Add the credit card account that needs to be set up.
3. After binding the credit card, click on the credit card to enter the new page.
4. Click "More Repayment Methods" at the bottom of the new page.
5. Select “Schedule Repayment”.
6. Set the deduction date, repayment amount, and agree to the agreement on the new page to make an appointment.
It should be noted that the repayment amount in Alipay should be set as high as possible, and the funds in Alipay must be sufficient. Otherwise, if the amount set is not enough to repay the credit card bill in full, it will become overdue. Repayment records.
In addition, it can also be handled by phone: the user directly dials the customer service number of the corresponding bank, follows the voice prompts and transfers to manual, and allows the staff to set up automatic repayment.
I would like to remind everyone that whether the credit card repays automatically or goes to a bank branch to repay, in short, the account due must be paid off on time, otherwise the repayment period will be exceeded. Overdue processing, all credit card transaction records will be recorded in the credit report, and such overdue records will cause credit stains.
If the CCB credit card is bound to a bank card, the repayment will be automatic. Should the repayment be made immediately after consumption or on the repayment date?
Repay on the due date.
The agreed account repayment means automatic repayment. The customer binds his current savings account opened with our bank as a credit card agreed repayment account (supports setting two agreements for RMB account and foreign currency account respectively) repayment accounts, and both must be at the same account-opening branch), and specify the deduction method (deduction based on the entire repayment amount or deduction based on the minimum repayment amount), to automatically repay all CCB credit cards in the customer's name.
Our bank will automatically repay you on the morning of the monthly repayment due date. Customers need to deposit the repayment amount into the agreed repayment account before 7:00 am.
Extended information
If you have signed a credit card agreement for account repayment, China Construction Bank will deduct the amount on the due repayment date based on the amount that should be repaid the day before the due repayment date. This amount can be used to reimburse customers for current or future unbilled repayments. If there are still remaining funds (i.e. overpayment) after offsetting all the repayments, it can be handled in the following ways:
1. Through mobile banking/online banking and branch counters, ATMs, and smart teller machines Transfer the RMB overpayment to your own bank savings account or credit card, and transfer the overpayment funds to the bank's account in the same city without any handling fee.
2. Withdraw cash for overpayment through China Construction Bank outlets or ATMs. The local bank will waive handling fees for overpayment withdrawals, and no interest will be charged for overpayment withdrawals.
China Construction Bank - What is agreed account repayment
China Construction Bank - Credit card repayment has been processed, will the agreed account be deducted
This concludes the introduction on whether automatic repayment is bound to a credit card and whether it is possible to repay in advance if a credit card is bound to automatic repayment. Did you find the information you need?