Converting RMB into foreign currency is called "purchasing foreign exchange". Credit cards or other types of bank cards held by cardholders have the function of overseas use (that is, cards that support foreign currencies). In consumption abroad (mainly overdraft consumption), the process that cardholders can repay their debts in RMB after returning home is called purchasing foreign exchange for repayment.
The difference between foreign exchange purchase repayment and foreign currency repayment
Foreign currency repayment means that you have dollars in your hand or card, and you pay directly in dollars. Repayment by purchasing foreign exchange means that you don't have US dollars, but you have RMB, so you need to convert RMB into US dollars to repay. In fact, there is an additional foreign currency exchange procedure.
Is there a handling fee for the repayment of foreign exchange purchased by credit card?
Credit cards automatically purchase foreign exchange for repayment. The credit card fees of different banks are different. Some banks only charge RMB at the exchange rate on the repayment date. We take China Merchants Bank as an example. China Merchants Bank's credit card will be settled in US dollars in consumption abroad through international routes. If the consumption amount is not US dollars, there will be exchange charges between the two currencies. If the consumption amount is USD, no settlement fee will be incurred.
US dollar bills generated in consumption abroad or by withdrawing foreign currency cash can be repaid by purchasing foreign exchange in RMB. You can choose to purchase foreign exchange in full or with minimum repayment. According to foreign exchange management regulations, the amount of foreign exchange purchased cannot be higher than the amount of cash.
How to use China Bank credit card to purchase foreign exchange for repayment?
When purchasing foreign exchange for repayment, it is necessary to ensure that there are enough overpayments (that is, excess deposits) in the RMB account and enough arrears (bills) in the foreign currency account, and to repay the foreign currency arrears by deducting the deposits in the people's accounts. You can purchase foreign exchange for repayment through "China Bank Credit Card" WeChat account, Colorful Life APP, personal online banking, China Bank Credit Card Customer Service Hotline 4006695566 and other channels.
The above contents are for your reference. Please refer to the actual business regulations.
What is the business of BOC's credit card to purchase foreign exchange for repayment?
China Bank's credit card purchase repayment:
65438+
2. The repayment of foreign exchange purchased by credit card requires that your card is in normal condition.
3. All cards under the same name can be repaid by purchasing foreign exchange through foreign currency accounts, but it is not possible to purchase foreign exchange between the main card and the auxiliary card of BOC series credit cards.
4. If your card handles the cash installment business, the cash installment amount will be regarded as a cash transaction when it is not recorded, and the current deposit amount will be affected and cannot be transferred out in full. Please know!
The above contents are for your reference. Please refer to the actual business regulations.
If in doubt, please consult the online customer service of China Bank or download and use the mobile banking APP of China Bank to handle related business.
What is the repayment path of "China Bank Credit Card" WeChat official account credit card?
The operation path of purchasing foreign exchange for repayment through the official account of "China Bank Credit Card" WeChat is as follows:
1. Click Account Service → Bill _ Repayment → Repayment by Purchase of Foreign Exchange in the lower left corner of the menu bar to jump to the page of Repayment by Purchase of Foreign Exchange.
2. After selecting the credit to purchase foreign exchange for repayment, the due repayment date, foreign exchange purchase currency, exchange rate, current bill amount, minimum repayment amount and remaining unpaid amount will be displayed.
3. Please select "RMB Repayment Account", enter "Available Balance" and "Repayment Amount", get the SMS verification code and click "Repayment".
The above contents are for your reference. Please refer to the actual business regulations.
Credit card repayment of foreign exchange What is credit card foreign exchange?
Just returned from abroad, the credit card is overdrawn a lot, and your RMB account is enough to pay off the money in your foreign currency account. I thought I didn't have to worry, but I found that the money in the RMB account wouldn't be repaid automatically. At this time, it is necessary to open a credit card to purchase foreign exchange.
What is the purchase of foreign exchange by credit card?
As we all know, a dual-currency credit card has two accounts, one is a RMB account and the other is a foreign currency account. If you use a foreign currency account to spend or withdraw cash abroad, you can't use RMB to repay foreign currency automatically after returning home. You have to buy foreign exchange to repay, and the so-called foreign exchange purchase is actually to buy foreign currency with RMB.
If the cardholder uses a dual-currency card in consumption abroad, it is impossible to pay off the debts of the foreign currency account by directly depositing RMB into the credit card. This is because the RMB and foreign currency bills of dual-currency credit cards are separate. If you want to repay foreign currency debt directly in RMB, you must start the automatic foreign exchange purchase business, so that the cardholder's RMB repayment can be automatically converted into US dollars to repay foreign currency debt. This is the so-called automatic purchase and repayment of credit cards.
However, if the cardholder does not open automatic foreign exchange purchase repayment, he can only repay the arrears by directly depositing foreign currency. At the same time, when returning foreign exchange to the credit card through online banking, you also need to open the foreign exchange repayment function in advance.
How to open automatic foreign exchange purchase for credit card repayment?
There are many ways to open credit card automatic foreign exchange purchase and repayment service, such as filling in the application form, customer service phone number, SMS application, etc. , as follows:
1. application form is opened: most banks have opened the "automatic foreign exchange purchase" business. Applicants only need to check this business on the application form to open a dual-currency credit card.
2. Opening of customer service telephone: Cardholders can call the 24-hour customer service hotline of the issuing bank with the reserved mobile phone number, and the manual service is opened, which generally takes effect within 3 working days after opening.
3. SMS activation application: The cardholder can use the mobile phone number registered by the issuing bank to edit the relevant SMS, and the fixed service number sent to the issuing bank applies for activation, and the SMS will take effect in real time.
Is there a handling fee for automatic foreign exchange purchase repayment?
After using the foreign currency account of dual-currency credit card, cardholders must use RMB to buy US dollars, and then use US dollars to pay for foreign currency accounts, and may also face foreign exchange handling fees ranging from 65,438+0.3% to 65,438+0.7%.
However, if the automatic purchase of foreign exchange for repayment is started, there is no need to charge a currency exchange fee, which can provide certain repayment convenience for cardholders who use credit cards abroad. That's all I know about buying foreign exchange by credit card. I hope I can help you.
How does BOC mobile banking credit card purchase foreign exchange for repayment?
Repayment method of foreign exchange purchase by mobile banking credit card:
Please log in to mobile banking and operate in "Credit Card-Instant Repayment".
Tips: If you have a transferable RMB account and a foreign currency account on the same card and meet the transfer-in conditions, the payment account and the collection account can be the same card. Bank of China series credit cards can support transfer-out when the lender has a balance (transfer funds when the credit card is not overdrawn). At present, e-banking controls that the repayment of foreign exchange purchase cannot exceed the bill amount; Repayment by purchasing foreign exchange is not supported before the bill is issued. There is no need to settle RMB arrears when purchasing foreign exchange for repayment.
The above contents are for your reference. Please refer to the actual business regulations.
So much for the introduction of credit card purchase and repayment.