The new credit card regulations will be implemented on New Year's Day, that is, January 1, 2017. It is necessary for us to understand clearly the new credit card regulations that will be implemented on January 1, 2017. Below is the relevant content about the new credit card regulations that I have carefully compiled for you. I hope you will like it!
New credit card regulations
1. The maximum overdraft interest rate is 50,000 per day
"Notice on Matters Related to Credit Card Business", the daily interest rate becomes an upper limit of 5/10,000, and the lower limit is a 30% discount on 5/10,000, that is, 3.5/10,000, choose overdraft Banks with the lowest interest rates naturally reduce interest payments.
Reminder: In addition, the interest calculation method for credit card overdrafts, whether interest will be charged on overpayments, and the interest rate standards are all determined independently by the card issuer, so it is important to choose a bank.
2. The late payment fee is renamed "liquidated penalty", and the amount is negotiable
Credit card late payment fee refers to the cardholder's actual payment amount on the credit card due payment date being lower than the minimum payment. If the minimum repayment amount is not paid, a late fee will be charged for the unpaid portion. In the new credit card regulations, the central bank has canceled late payment fees for credit cards, but this does not mean that there is no penalty for non-payment. Instead, banks will charge "liquidated penalties" instead.
Reminder: Cardholders have the opportunity to shop around. When applying for a card, be sure to compare the banks, liquidated damages, and charging ratios, and choose the most cost-effective and economical bank.
3. The ATM cash withdrawal limit is up to 10,000 yuan per card per day.
Credit card cash advance business includes cash withdrawals, cash transfers and cash recharges. The new regulations have improved the credit card cash advance business, and the limit for credit card cash withdrawals at ATM machines has been increased to RMB 10,000.
Reminder: Before applying for a card, you must understand the cash withdrawal limit, cash transfer limit and handling fee standards. More importantly, you should understand whether the bank allows using credit cards to recharge WeChat and Alipay. This can allow cardholders to Use more of your overdraft limit.
4. The interest-free repayment period may exceed 60 days
5. The bank determines the minimum repayment amount
6. If the credit card is stolen, you need to Provide reasonable compensation
The new regulations encourage card-issuing banks to provide reasonable compensation to cardholders for transactions not authorized by the cardholder (stolen fraud) through commercial insurance and the provision of risk compensation funds to protect the rights and interests of cardholders. .
New regulations implemented by credit cards
1. No handling fees for cash withdrawals and transfers from different places with the same bank
In order to reduce the cost of residents’ transfers, the central bank issued 261 on September 30 Document No. 1 stipulates that banks that charge inter-regional handling fees for inter-regional cash deposits, withdrawals, transfers and other services within the bank shall be free of charge within three months from the date of issuance of this notice. In other words, by around January 1, 2017 at the latest, citizens who handle transfers at the same bank will be free of charge for cash withdrawals and transfers in other places.
2. Each bank can only apply for one debit card
According to the regulations of the central bank, starting from December 1, 2016, the same person can only open one at the same bank. Category I accounts (bank settlement accounts, including bank cards, the same below), if a Category I account has been opened, and a new account is opened, a Category II account or Category III account should be opened.
According to the explanation of the central bank, Type I accounts in personal settlement accounts are accounts currently opened by individuals at bank counters and verified on-site, and have full functions; Type II and III accounts are accounts that are opened through bank counters. Bank accounts opened online or through electronic channels such as the Internet have limited functions and need to be bound to Type I accounts; at the same time, the central bank also divides payment accounts into Type I, II, and III.
3. ATM transfers can be reversed within 24 hours
Starting from December 1st, transfers through ATMs, mobile phones, and online banking will become a little troublesome.
When transferring money at an ATM machine, no matter you choose real-time payment, ordinary payment or next day payment, it will take 24 hours to arrive. If you transfer the wrong account or are deceived, you can recover your money, but you should also beware of new transfers. What a scam!
4. WeChat, Alipay, etc. limit the transfer amount
1. Banks and payment institutions agree with customers in advance on the limit and number of transactions. If the limit and number of transactions are exceeded, bank account transfers should be processed at the bank counter, but payment accounts cannot be processed.
2. Strengthen security verification methods. In addition to transferring funds to the bank account of my counterpart, if the bank handles non-counter transfer business for individuals, and the cumulative amount in a single day exceeds 50,000 yuan, it should use safe and reliable payment instruction verification methods such as digital certificates or electronic signatures.
3. Set large transaction reminders. If the cumulative daily non-counter transfers in the bank accounts of organizations and individuals exceed 1 million yuan and 300,000 yuan respectively, banks should issue reminders for large-value transactions, and the organizations and individuals can only transfer the funds after confirmation.
5. Suspension of non-counter business for accounts that have not traded for half a year
According to the public security organs, after criminals acquire a large number of accounts and open accounts under false pretense, some accounts will not be activated immediately, but will be opened normally. In this case, an individual's account will generally be activated immediately after opening it. If the account is not used for a long time, it should be regarded as an abnormal situation and cause great concern.
In the new regulations issued by the central bank, it is also stipulated that for accounts that have no transaction records within 6 months from the date of account opening, banks should suspend non-counter business, and payment institutions should suspend all business until the unit and Businesses can be resumed only after individuals re-verify their identities with banks and payment institutions.
6The same mobile phone number corresponds to the same ID card
At present, with the use of mobile phone SMS verification codes, SMS balance reminders and important matter notifications, mobile phones have become banks and payment institutions. An important means to verify personal identity and protect the security of personal funds. Banks and payment institutions should establish a one-to-one correspondence between contact phone numbers and personal identity document numbers. If the reason cannot be proved, non-counter business should be suspended for the relevant bank account and all business for the payment account should be suspended.
Legal provisions on credit cards
1. Article 196 of the Criminal Law of the People's Republic of China and the People's Republic of China: Under one of the following circumstances, credit card fraud is carried out, and the amount is relatively large If the amount is huge or there are other serious circumstances, the sentence shall be not less than five years but not more than 10 years of fixed-term imprisonment and a fine of not less than 20,000 yuan but not more than 200,000 yuan. A fine of not more than 500,000 yuan; if the amount is particularly huge or there are other particularly serious circumstances, the sentence is to be not less than 10 years in prison or life imprisonment, and a fine of not less than 50,000 yuan but not more than 500,000 yuan, or property confiscation:
(1) Using a counterfeit credit card;
(2) Using an invalid credit card;
(3) Pretending to use another person’s credit card;
( 4) Malicious overdraft.
The so-called malicious overdraft referred to in the preceding paragraph refers to the cardholder’s behavior of overdrafting beyond the prescribed limit or within the prescribed period for the purpose of illegal possession and failing to return it even after being called upon by the card-issuing bank.
Anyone who steals a credit card and uses it shall be convicted and punished in accordance with the provisions of Article 264 of this Law.
2. "Decision on Punishing Crimes that Disrupt Financial Order" of the Standing Committee of the National People's Congress
Order No. 52 of the President of the People's Republic of China, June 30, 1995 Passed by the 14th Session of the Standing Committee of the Eighth National People's Congress
14. Whoever commits credit card fraud in any of the following circumstances and the amount is relatively large shall be sentenced to fixed-term imprisonment of not more than five years or criminal detention, and shall also be sentenced to: A fine of not less than 20,000 yuan but not more than 200,000 yuan; if the amount is huge or there are other serious circumstances, he shall be sentenced to fixed-term imprisonment of not less than five years but not more than 10 years, and a fine of not less than 50,000 yuan but not more than 500,000 yuan; if the amount is particularly huge or there are other special circumstances If the circumstances are serious, the offender shall be sentenced to fixed-term imprisonment of not less than ten years or life imprisonment, and his property shall be confiscated:
(1) Using a counterfeit credit card;
(2) Using a invalid credit card ;
(3) Pretending to use other people’s credit cards;
(4) Malicious overdraft.
Anyone who steals a credit card and uses it shall be punished in accordance with the provisions of the Criminal Law on the crime of theft.
22. Illegal gains from crimes stipulated in this decision shall be recovered or ordered to be refunded to the victims; property used for crime shall be confiscated. Counterfeit or altered currency, counterfeit, altered or invalid bills, letters of credit, credit cards or other bank settlement vouchers shall be confiscated and handed over to the People's Bank of China for destruction.
3. Article 177 of the "Criminal Law of the People's Republic of China" stipulates: Anyone who obstructs the management of credit cards under any of the following circumstances shall be sentenced to fixed-term imprisonment of not more than three years or criminal detention, and shall also or a single fine of not less than 10,000 yuan but not more than 100,000 yuan; if the amount is huge or there are other serious circumstances, the person shall be sentenced to fixed-term imprisonment of not less than three years but not more than 10 years, and shall also be fined not less than 20,000 yuan but not more than 200,000 yuan:
(1) Knowingly holding and transporting a counterfeit credit card, or knowingly holding and transporting a large quantity of forged blank credit card;
(2) Illegal possession of another person's credit card Credit cards, in large quantities;
(3) Using false identity certificates to fraudulently obtain credit cards;
(4) Selling, buying, or providing forged credit cards to others or using false The credit card was obtained by fraudulent identification.
Anyone who steals, bribes or illegally provides other people’s credit card information shall be punished in accordance with the provisions of the preceding paragraph.
Any employee of a bank or other financial institution who takes advantage of his position to commit the crime in Paragraph 2 shall be severely punished.
4. Article 177-1 of the "Criminal Law of the People's Republic of China" Whoever interferes with the management of credit cards under any of the following circumstances shall be sentenced to fixed-term imprisonment of not more than three years or criminal detention, and shall also be sentenced to: Or a single fine of not less than 10,000 yuan but not more than 100,000 yuan shall be imposed; if the amount is huge or there are other serious circumstances, the sentence shall be not less than three years but not more than 10 years in prison, and a fine of not less than 20,000 yuan but not more than 200,000 yuan:
(1) Knowingly holding and transporting counterfeit credit cards, or knowingly holding and transporting forged blank credit cards in large quantities;
(2) Illegal possession of other people’s credit cards , a large number;
(3) Using false identity certificates to fraudulently obtain credit cards;
(4) Selling, buying, or providing others with forged credit cards or using false The credit card was obtained through fraudulent identification.
Anyone who steals, bribes or illegally provides other people’s credit card information shall be punished in accordance with the provisions of the preceding paragraph.
5. Article 177 of the Criminal Law of the People's Republic of China or a fine of not less than 20,000 yuan but not more than 200,000 yuan; if the circumstances are serious, he shall be sentenced to fixed-term imprisonment of not less than five years but not more than 10 years, and shall also be fined not less than 50,000 yuan but not more than 500,000 yuan; if the circumstances are particularly serious, he shall be sentenced to 10 years in prison or life imprisonment, and shall also be sentenced to a fine of not less than 50,000 yuan but not more than 500,000 yuan, or confiscation of property:
(1) Forging or altering bills of exchange, promissory notes, or checks;
(2) Forging or altering entrusted collection vouchers, remittance vouchers, bank deposit receipts and other bank settlement vouchers;
(3) Forging or altering letters of credit or accompanying documents and documents;
(4) Forging credit cards.