How to withdraw cash for free with a China Merchants Bank credit card

You can withdraw cash directly with a credit card. Credit card cash withdrawal methods include counter cash withdrawal, ATM self-service machine cash withdrawal, mobile banking cash withdrawal, personal online banking cash withdrawal, etc. Cardholders can withdraw cash directly or transfer money to a debit card. The cash withdrawal limit of a credit card is usually half of the credit limit, and cash withdrawals require payment of handling fees and interest.

Different banks have different calculation methods for credit card cash withdrawal fees. Most of them are charged at a one-time basis of 1% of the transaction amount. Cash withdrawal interest is calculated in the same way, and is charged at 0.05% of the transaction amount on a daily basis. , calculated from the date of withdrawal to the day before the date of repayment. Therefore, the cost of withdrawing cash by credit card is relatively high.

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This answer is provided by Kangbo Finance. Kangbo Finance focuses on interpretation of hot financial events and popularization of financial knowledge. It adheres to professionalism and pursues fun, and produces financial content that people can understand, using vivid and diverse methods. Deliver financial value. Hope this answer is helpful to you.

How to withdraw cash with a credit card?

There are many correct ways to withdraw money from a credit card, such as ATM withdrawal, bank counter withdrawal, transferring credit card limit to bank card through mobile banking, online banking, etc. These methods will not cause risk control and are also the correct cash withdrawal methods for credit cards.

In addition to the above methods, credit cards also have indirect cash withdrawal methods. For example, a user uses a credit card to help relatives and friends buy things online. After receiving the things, the relatives and friends will pay cash to the user, which is considered a successful withdrawal. Of course there are risks with this approach, friends may owe you money.

There are two ways to withdraw money by credit card.

1. When withdrawing cash by credit card, it depends on whether your credit card has the cash withdrawal function. Generally, credit cards have cash withdrawal limits, and you can withdraw cash directly at an ATM or counter.

If there is no cash withdrawal amount, then if you want to withdraw cash, you can do so in two ways. The first is to use the credit card APP or call customer service to ask for the cash withdrawal amount.

The second method is to swipe T with a credit card machine.

Due to the convenient payment methods of credit cards, there are more and more credit card users, so the phenomenon of cashing out on credit cards is increasing. So how do you withdraw money from your credit card? I tell you. 1. Credit card cash withdrawals require payment of handling fees and interest. The cash withdrawal fee is generally 0.5% of the cash withdrawal amount, and the interest is calculated on a daily basis, and the daily interest rate is about 0.05%. 2. Withdraw the excess money from the credit card and transfer it to my savings card. This time it is not free and a certain handling fee is required, usually 0.5%-3%. 3. You can also transfer money to the UnionPay passbook of any bank at designated bank ATMs in designated cities, but you must have a debit card from that bank and open one of telephone banking, online banking, and mobile banking. 4. The cash installment limit is also different depending on the cardholder's credit limit and card usage history. After the cash installment is successfully processed, the money will be transferred to the debit card in the name of the cardholder. 5. Credit cards must be used rationally and repaid in a timely manner, because seriously overdue credit cards will be included in the conference blacklist. This can do more harm than good. Please remember. Simply put it is 1. Overpayment Transfer 2. Direct credit card transfer. Cash installment transfer.

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Which Bank of China credit cards are free of cash withdrawal fees

The credit balance in the credit card can be withdrawn through the counter or ATM machine. There is no handling fee for withdrawals at the counter of BOC cards. If you withdraw money at an ATM machine, it will be defaulted There is a cash withdrawal fee but no interest will be charged; there is no charge for local withdrawals with Great Wall Card, but there will be a cash withdrawal fee for other places. There is no interest for withdrawing excess deposits. For specific charging standards, you can call customer service 4006695566 for detailed inquiries. Credit card overdraft withdrawals do not enjoy the interest-free repayment period. Bank of China will charge you interest from the accounting date to the repayment date at a daily interest rate of 0.5%. There is also a handling fee. You can check it through the official website of Bank of China ()--Bank Card--Service Guide--Card Application Guide--Bank of China Credit Card Service Fee Price List.

The above content is for your reference, please refer to actual business regulations.

That’s it for the introduction of how to withdraw cash with a credit card without charging fees.