Dual-currency credit card has brought us great convenience in spending abroad, but now there is a very specific problem before us. That is, if you use a dual-currency credit card to swipe foreign currency, how can you repay it?
As we all know, you have to pay in foreign currency when you swipe your card in places not covered by UnionPay. How to pay back the money after returning home? International organizations will convert the consumption amount of euros into dollars and record it in the dollar account of dual-currency cards, and then carry out currency conversion, which does not need us to worry about.
However, Visa, Master, express, JCB and other corresponding international organizations will charge a certain fee for this, usually in. Cardholders need to repay their US dollar accounts after returning to China.
If it is in the coverage area of UnionPay, I suggest you choose the UnionPay channel, which can save a handling fee. Dual-currency credit card repayment ends here.
How to pay back the credit card by swiping the euro card?
Although it is convenient to use euro credit cards in Europe, repayment is very troublesome, especially for cardholders who have returned to China. It's really not easy to repay their euro credit cards in China. If you don't pay attention, it is likely to lead to repayment failure. So, how to repay the euro credit card? What are the requirements for euro credit card repayment? Can Euro Credit Card be repaid in RMB? Let's take a look together.
Card friend example
Ms. Shen and her wife traveled to Europe not long ago, and they mainly used euro credit cards for spending abroad. After returning to China, she found that although she used euros overseas, she only accepted RMB cash for repayment. If she wants to repay in euros, she can only purchase foreign exchange in RMB in her account, and the extra euro cash on hand can only be sold to the bank and cannot be directly used for repayment.
analyse
Euro credit cards can only be repaid in RMB, mainly because many banks have issued dual-currency credit cards in RMB and Euro, but considering the cost factor, they have not applied for a euro cash business license. To put it simply, most bank dual-currency credit cards do not open the euro cash repayment channel, so they do not support direct repayment in euro cash.
Most dual-currency international credit cards are two accounting channels. Take RMB/Euro dual-currency credit card as an example. When receiving the euro bill, customers can choose to repay directly in euros or purchase foreign exchange in RMB. If it is a RMB bill, you can only repay it in RMB.
However, even if the euro card is repaid in RMB, there are still some points to pay attention to:
1. Confirm whether the function of "Automatic Purchase of Foreign Exchange for Repayment" is enabled on your Euro Card. If this function is not enabled, even if you have more RMB deposits in your debit card, you will not automatically purchase foreign exchange to repay foreign currency arrears on the last repayment date.
2. Before purchasing foreign exchange by telephone for repayment, the amount of RMB deposited should be appropriate and generous. As the exchange rate will fluctuate, once the cardholder fails to deposit enough money, the repayment will fail.
3. Under normal circumstances, the purchase of foreign exchange by telephone can be received in real time, but special circumstances are not excluded. Therefore, it is best for cardholders to apply two or three days after the final repayment.
How to pay the credit card in foreign currency?
There are two main ways to repay credit cards in foreign currency. If the credit card consumes foreign currency, you can choose to return the corresponding foreign currency directly at the bank counter, or return the equivalent RMB at the exchange rate of the day. Another case is a double-label credit card, which is accounted for separately. RMB is settled in UnionPay channel and foreign currency is settled in foreign currency channel. If there is foreign currency consumption in the bill, you need to call the bank's customer service and ask for the repayment function of purchasing foreign exchange in RMB. After opening, RMB can be used to repay foreign currency arrears. Common foreign currency channels are VISA, MASTERCARD and JCB.
Double-label credit cards are credit cards with RMB and foreign currency accounts, which can be roughly divided into two categories, one is double-label credit cards, and the other is double-label debit cards. Debit cards also have two accounts, but they do not have overdraft function. When you see a bank card with the words "UnionPay" in the upper right corner and the sign "VISA or other channels" in the lower right corner, this card belongs to a double-label credit card. To a certain extent, dual-channel credit cards will bring great convenience to people. If you go abroad on business, etc. And don't bring enough foreign currency, you can freely use RMB to exchange foreign currency within a certain amount.
The general double-label credit card has no chip, only a magnetic stripe. The difference between a chip and a magnetic stripe lies in security and information storage. In order to reduce the risk of being attacked by criminals, the relevant credit card departments have introduced chip cards, which are equivalent to micro hard disks. Its storage capacity is larger than that of a magnetic stripe card, and it can store users' fingerprints, keys, digital certificates and other information. The most important thing is that it has an anti-theft brush. Theoretically, the chip card can be used for about 30 years. There is also a card with a chip and a magnetic stripe. This kind of credit card has a higher safety factor. While verifying the chip, it also reads and writes the magnetic stripe, realizing two-way authentication, greatly improving the difficulty of illegal authentication and ensuring the personal and property safety of users. This kind of credit card has high security and versatility, and is becoming a global development trend.
How to repay visa card in euros?
Repayment in euros with visa card: VISA first converts the amount you purchased into US dollars, and you can repay directly in US dollars (if any) or automatically purchase foreign exchange in RMB.
Since the credit card consumption abroad will be settled in US dollars, if the consumption amount is not US dollars, there will be an exchange fee between the two currencies, which is generally 0.5% of the transaction amount of 65438+. If you consume euros, you have to convert them twice, that is, euros into dollars and dollars into RMB.
The conversion of Euro to USD is based on the exchange rate provided by VISA International Organization on the day before entry, which can be inquired by international organizations or banks after settlement. Banks can confirm through historical transaction records that the conversion of US dollars into RMB is based on the selling price around 10 on the entry date, and can only be inquired through the credit card center.
Extended data:
At present, most of the "currency conversion fees" charged by domestic banks are 1.5% of the consumption amount, but some banks are different. For example, the Visa cards of ICBC and ABC are 1%, the Bank of Communications is 1.75% of the consumption amount, and the highest one is 2% of Shanghai Pudong Development Bank.
This means that if you swipe the equivalent of 100 USD, you have to pay the conversion fee of 1 ~ 2 USD, which is equivalent to RMB 6.3 ~ 12.6 yuan according to the foreign exchange rate quoted by the bank. The larger the credit card amount, the more the handling fee.
It is suggested that overseas credit cards take the UnionPay channel as far as possible. If the amount of shopping is huge, you can save a lot of money just by changing the currency. It should be noted that there is a problem with the credit card channels of 20 10, Visa and UnionPay. Up to now, there are still many overseas merchants who cannot provide UnionPay credit cards for Visa dual-currency cards.
You'd better ask if you can bring UnionPay when you settle your shopping.
That's all for the introduction of how to repay credit cards in euros.