Source: Securities Daily

Author: Peng Yan

In recent years, the credit card business has developed rapidly, but the problems in the use of credit cards have become increasingly prominent.

Recently, a reporter from Securities Daily visited and found that many intermediaries claimed that they could handle credit cards and withdraw cash in full, and POS machines used credit cards to withdraw cash. However, although it is convenient to cash in credit cards, it is not necessarily cheap, and it also hides the risks of funds and credit investigation.

At the same time, since this year, CBRC and several banks have standardized the management of credit card business, emphasizing the use of credit cards.

hidden risks behind credit card cashing

in terms of credit card business, many banks not only frequently announce the regulation of cardholders' fund use, but also regulate the adjustment of credit card-related business. These adjustments have aroused people's concern about credit cards.

The reporter entered the keyword credit card cashing in Baidu search bar, and there were as many as 28.7 million search items. Except for some case reports of credit card cashing, most of them recommend credit card cashing software and cashing strategy.

the so-called cashing means that the cardholder uses the credit card POS machine to make a false transaction, and then gets a cash refund from the merchant after paying a certain fee.

It is understood that there are many credit card cashing methods in the market at present, including using the QR code to scan the code to obtain cash from a third-party payment platform, and the machine that swipes the card POS to obtain cash also uses third-party software to consume the credit card, and then returns it to consumers in cash. In addition, some small tobacco shops, building materials companies, wholesale markets, building materials companies, wholesale markets, etc. According to the types of businesses, the interest rate is generally between 1.5% and 3%.

The Securities Daily reporter contacted an intermediary company that cashed in credit cards. According to the other party's introduction, the holder cashes out through the payer's handling fee. Normal use of merchant POS machines to conduct false transactions and transfer the amount on credit cards. The merchant will pay the balance after deducting the handling fee to the holder in cash on the spot. Generally, 1.5%-3% is charged as a handling fee. Taking 5, yuan as an example, the maximum cost is 15, yuan.

The reporter learned that under normal circumstances, credit card holders can withdraw cash, but the withdrawal amount is generally limited, and they also need to pay a handling fee according to a certain proportion of the withdrawal amount and pay a certain interest every day. Cash withdrawal by illegal means of false consumption and trading can greatly exceed the normal withdrawal amount, which also makes some people smell business opportunities.

In fact, for individuals, although it is convenient to cash out credit cards, it is not necessarily cheap, and cashing out may also affect personal credit investigation. Therefore, the hidden risks behind illegal cashing of credit cards cannot be ignored.

suppose the cardholder wants to cash out 3, yuan, and the handling fee is 6, yuan according to the 2% handling fee. If the bank uses interest-free for 3 days and cashes out 3, yuan each year by means of card raising, it needs to make 11 repayments before cashing out. Then, only one credit card needs to pay 11 handling fees, about 66 thousand yuan, equivalent to 22% of the cash amount.

In addition, according to the reporter of Securities Daily, some cash funds have also been used in forbidden fields such as house purchase and wealth management, which obviously increases the risk of funds.

people in the banking industry said that, in fact, cash outflow is not only a risk point of banks, but also may have adverse effects on individuals. The banking system will monitor the credit card data and verify it under abnormal circumstances. Once it is confirmed to be a cash outflow, measures will be taken. Therefore, for cardholders, even if cash outflow can ensure timely and full repayment, the bank will reduce or stop the card processing and bring it into the personal credit investigation system of the People's Bank of China.

strengthen supervision and implementation

since the beginning of this year, the credit card business of commercial banks has generally seen a decline in card issuance and transaction volume, or even a negative growth. At the same time, the number of bad credit cards and overdue credit cards continues to rise.

according to the report of the central bank, by the end of September, the overdue amount of credit cards of major banks in China had reached 78.233 billion yuan, and the total interest and liquidated damages generated by overdue amount had exceeded 92 billion yuan.

Recently, China Banking and Insurance Regulatory Commission and many banks have standardized the management of credit card business. The "Securities Daily" reporter pointed out that in addition to emphasizing the use of credit cards, the bank credit card center is still strictly investigating illegal transactions such as cashing.

Many bank credit card centers have issued the Announcement on Further Clarifying the Use of Credit Card Funds, which clarifies that personal credit cards and credit card funds are limited to the daily real consumption of cardholders. Credit card funds cannot be used in non-consumption areas, such as production and operation, fixed assets investment, equity investment and other non-consumption areas, including housing purchase, securities investment, financial management, other equity investment and other prohibited areas. If the credit card funds are used in non-consumption areas or the untrue transaction may lead to the transaction failure, one or more risk management measures will be taken, including but not limited to reducing, stopping payment, freezing, early settlement, deducting/demanding equity return and value-added services.

In addition, banks have begun to use credit card sealing, reducing the amount and other means to strictly control risks. Recently, some credit card holders laughed at reporters and recently received text messages from banks including state-owned banks and joint-stock banks to reduce the amount.

At the same time, in recent years, China Banking and Insurance Regulatory Commission has also strengthened the supervision of credit card business. In June this year, the China Banking and Insurance Regulatory Commission issued the Notice on Rectifying the Market Chaos in Banking and Insurance, warning that the bank's credit card business funds were not well controlled and illegally flowed to non-consumption areas.