Can Online Banking be used as a bank card? Obviously it cannot do some functions, such as swiping POS machines, making cash deposits, etc. After all, we still need to survive in the physical world. It cannot do some physical functions, but in other aspects it can be used as a bank card. used.

MyBank is China’s first commercial bank whose core system is based on cloud computing architecture, initiated and established by Ant Financial as a major shareholder. As one of the first five private banks in China approved by the China Banking Regulatory Commission, it officially opened on June 25, 2015.

Online Bank does not have offline physical stores, nor does it have physical bank cards, so what is its use? The main functions include financial management and loans. Some people have asked whether it can be used as a bank card. In fact, it boils down to mobile payment. However, if the online merchant bank has a virtual bank card and fails to register it successfully, the system will automatically give the user a 16-digit electronic card starting with 6666.

The savings card of MYbank is also an electronic card, which can be used to save money, pay off credit cards, transfer funds, buy MYbank financial management, large-denomination certificates of deposit, etc. The corporate settlement account supports deposits, transfers, and issuance on behalf of corporate online banks. It will be safer and more convenient for users to enjoy financial services in online merchant banks.

MyBank has an independent APP that can also be operated directly on the Alipay software. The MYbank savings card is similar to the bank’s savings card, but there is no physical card. If investors bind their Alipay account to MYBank, they can directly transfer funds in or out to Yu'e Bao; if they bind a physical bank card, they can directly transfer or withdraw funds to the physical bank card.

As long as you log in to MYbank, you can make deposits and withdrawals, but it does not support cash transactions. Instead, you need to transfer money to MYbank through other channels. MYBank is actually Yu'E Bao. If you want to save money, you can transfer funds to MYbank cards through Yu'E Bao or transfer them through other bank cards.

Online merchant banking and binding a bank card are completely different. Binding a bank card is equivalent to activating a function, while opening online merchant banking is equivalent to applying for a bank card. Since Alipay charges a handling fee for cash withdrawals, you can transfer Alipay money to MYbank. Then there will be no handling fee if you transfer it to your bank card through the online merchant.

In general, online merchant banks are actually very different from physical banks. It can be said that if there is no need for loans, then online merchant banks are like Yu'E Bao in Alipay, which can be deposited and transferred with interest. , you can also purchase financial products, etc.