Attention! Use of foreign currency single clearing channel credit card to be restricted
Recently, many banks issued new regulations on the serviceable range of foreign currency single standard credit card that foreign currency single standard card can only be used for the consumptions taking place outbound or in Hong Kong, Macao and Taiwan regions China. Most people affected by these new regulations are the ones who usually do cross-border online shopping, travel or on business trip abroad.
Many banks adjust the range for the use of foreign currency single clearing channel credit card
A few days ago, CCB (China Construction Bank) publicized an announcement that in accordance with the requirements of 2018 Work Points on Settlement and Payment of Commercial Banks issued by People's Bank of China, foreign currency single clearing channel credit card--VISA, Master Card, JBC, published by CCB can only be used outbound and in Hongkong, Macao and Taiwan region of China.Reporter learned from CMBC(China Merchants Bank), Shanghai Pudong Development Bank and other banks that they also made such regulations.
Foreign currency single standard credit card refers to the ones published by the banks who entered the bank net such as VISA, Master Card, JBC, and American Express.Reporter learned from the interview that in the past the VISA foreign currency single standard credit card published by domestic commercial banks can be used at the VISA commercial tenants both at home and abroad. It can also be used in all or part of the channels in China provided by the issuing bank.In settlement, the card owners need to pay currency conversion fee and exchange rate difference.
According to Administration Methods on Bank Card Clearing Institutes jointly issued by supervision departments, banks cards published jointly by overseas agencies and domestic bank card clearing institutes should use the authentication code of the domestic bank card clearing institutes.The outbound agencies should not engage in bank card clearing business in the form of cooperation.The emphasis of many banks of China on the range of the use of foreign currency single standard credit cards meets the requirements of the supervision departments.
Citizens who need to use credit card outbound had better prepare two credit cards
Who are using these foreign currency single standard credit cards?The insiders of bank industry of Shenyang said when shopping at overseas online websites it's quite convenient to use foreign currency single standard credit cards. Thus, lots of people likes it a lot.
Ma Wei, a student who always do cross-border online shopping at Amazon America, told the reporter that she use the VISA foreign currency single standard credit card the most when doing cross-border online shopping. And sometimes she uses it at the shops in China.If the banks limits the range of the use of this card, she has to abandon it.
What worths mentioning is that some of the citizens are using two-standard credit cards. Two-standard credit card means that the bank card has signs of two bank nets.Taking the two-standard bank cards issued by international bank net and China UnionPay as an example. Bin means the bank card is issued by foreign bank net. Such as Visa, which begins with 4, and Master Card, which begins with 51--55. Yet, most of the cards used in China are cleared by China UnionPay with Chinese RMB.The two-standard bank cards mostly used now are UnionPay+Visa and UnionPay+JCB.
The insider mentioned above said these two-standard bank cards can be used as usual within the expiration date.After the expiration date, it's recommended to change into a single-standard bank card if the card owner doesn't have demand to consume abroad. To the card owner who usually do shopping outbound, it's recommended to change into a single foreign currency credit card and one single-standard UnionPay credit card.In other words, the consumption both at home and overseas made by one card now needs to be finished with two bank cards.