Can I Use My Debit Card in China?

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  • 2020-05-21
  • China tourism information
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American VISA debit cards can be used in China. It can be used on ATM that supports Visa. Most banks in mainland China basically support ATM. Swiping by card can only be used on machines that support Visa. It can be used on all POS and ATM machines that support visa in China. Consumption or withdrawal is calculated directly in RMB, and the visa organization is responsible for currency conversion and bookkeeping.

Can Venmo Be Used in China?

Venmo can be used in China. You can download the software directly from your mobile phone and bind a bank card to use it.

Venmo is an e-commerce company based in New York, it is a small payment software, the operation process is relatively simple, in line with the current social network services used by young people, so the development is relatively fast. Because money transfers between friends can use fun emoticons to communicate, it is called a mini social network.

Visa Card Introduction

Visa card was issued by Visa International at the end of 1982, the predecessor of Bank of America (National BankAmericard Inc.. Founded in 1959, it issues Bank of America Card (Bank-Americard) in California, USA.

In 1977, the name was changed to Visa and the first debit card was issued. In 1987, the multi-currency clearing and settlement service was launched, which promoted the efficiency of cross-border payment settlement. In 1997, the total transaction value of brand payment products exceeded 1 trillion US dollars.

In 2008, Visa was listed on the New York Stock Exchange (NYSE) and became the largest IPO, stock trading symbol “V” in US history with a financing amount of US $19.7 billion. As of December 31, 2008, debit card transactions in the United States exceeded credit cards for the first time.

Visa cards can be accepted at more than 29 million merchant trading points around the world and can withdraw cash from 1.8 million ATMs for unlimited convenience. There are more than 1.85 billion Visa cards in circulation worldwide, which proves that Visa is the most popular payment brand. Visa offers a wide range of credit and debit products to meet a variety of payment and daily needs.

Visa Can Be Used in China

It can exchange RMB automatically.

Can only be used on POS machines that can accept foreign cards, mostly in large shopping malls. Supermarket, a small shop with a visa sign on the street.

About 1% currency conversion fee.

It can be used on all POS and ATM machines that support visa in China. Consumption or withdrawal is calculated directly in RMB, and the visa organization is responsible for currency conversion and bookkeeping (visa will charge RMB to US dollars for currency conversion fees), so it is best to ask your bank in advance what the currency conversion fee is with visa. (the currency conversion fee for visa cards issued by Chinese banks ranges from 1% to 2%, ICBC Agricultural Bank is the lowest, and China Merchants Bank Pudong Development Bank is the highest, which is different in other countries. 4% is allowed for the visa card of HSBC in the United Kingdom.)

Introduction to the Use of Bank of America Debit Cards in China

American bank cards can be used in China (ATM, counter can be picked up), and you have to charge a certain fee when using them.

The fees mainly include:

  • 3% withdrawal fee for ATM:

There is a service charge for ATM to withdraw money from other countries. In addition to the loss of the exchange rate difference, there is also a 3% handling fee, which is basically an international practice, which is charged by almost all banks. Some banks also have additional fees, such as an additional fee of $5 for each withdrawal of Wells Fargo. Of course, some banks, such as HSBC, Huamei Bank, have a 1% handling fee.

If you have a VIP account, if you are a major private financial customer of the bank, there will be corresponding discounts, such as: HSBC excellent financial customers worldwide withdraw free of charge,; Wells Fargo’s PMA customers are free of charge for the first two withdrawals abroad, and so on.

There are also some international banks that offer discounts from time to time. For example, there is no handling charge for CitiBank’s card to withdraw money from the local CitiBank’s own ATM in Beijing, Shanghai and Guangzhou.
In addition, if you consider that you may need to withdraw cash in a foreign country, you need to call the bank card center of the card issuing bank before departure to inform them that they may withdraw cash in other countries. It is impossible to withdraw money abroad without prior notice.

  • Visa consumption also charges 3%:

All cards in the United States support VISA services. Visa is an alliance of 21000 members of financial institutions (banks) that issue cards that can be widely used. Visa is more of a payment method.

Cross-border use of VISA services, cross-border consumption, also need to pay a handling fee.

I called Chase, BOA, Wells Fargo and other banks, all of which charge 3%. Huamei Bank is 1% handling fee. Therefore, after spending money in China, it is not surprising that there is an extra handling charge when you go back to the United States to see the bill, it is the cost of VISA.

The Difference between Bank of America and Bank of China

Can-I-Use-My-Debit-Card-in-China

Debit accounts and credit accounts are available for all relevant account types. Natural persons of any nationality can open debit accounts as long as they hold relevant documents, but credit accounts are different. China must provide identity cards, and the United States must have a social security number SSN, otherwise foreigners cannot open local credit accounts.

A Chinese account requires a personal ID card, home address, contact number, and a simple information application form; a US account: a passport, a US guarantor with a local social security number, a US address, and other simple information application forms.

Opening an account is based on specific personal needs and conditions, as well as the distance of bank outlets from where they live and live, as well as the dense distribution, which is the main consideration in the United States.
The Bank of China and the United States usually send it by mail to the address that the applicant filled in at the beginning of opening an account.

Can Foreign Savings Cards Be Used in China?

Foreign savings cards can be used in China, as follows:

  • You can withdraw RMB from the cash machines of domestic and foreign banks, such as the ATM of HSBC, Standard Chartered and Citigroup.
  • It can be used at the counter specially set up by the bank.

In addition, it can also be used in the POS machine with the corresponding logo of the savings card. For example, if a foreign savings card has the VISA logo, it can be used in the POS machine with the VISA logo; if the foreign savings card has the MASTER, logo, it can be used in the POS machine with the MASTER logo; if the foreign savings card has the JCB, logo, it can be used in the POS machine with the JCB logo.

It is worth noting that foreign savings cards can only be used in the corresponding POS machine, if the foreign savings card with the logo is VISA, then it can not be used in the POS machine with the MASTER logo.

In addition, when a foreign savings card withdraws money at home, it is also necessary to contact the foreign savings card issuing bank to open the international withdrawal function.

How to Withdraw Money from American Bank Cards in China

American bank cards can be withdrawn directly from Chinese ATM machines.

Preparatory work:

  • Set the bank card withdrawal password to 6 digits, which is the same as the default password of the Bank of China.
  • Inform the bank that it will use bank cards outside the United States. Ask the bank customer service to set up Travel Flag, for the relevant accounts. You can manage it through the online customer service of Bank of America.

Withdrawal steps:

After inserting the card and entering the password, you will be asked to select the account type, select Checking Account, and follow the prompts.

Can I Withdraw Money from an American Bank Card in the Bank of China?

American bank card A savings card with the visa logo can be used in China. Visa debit cards can pay directly from the bank account, and the payment records will be detailed in the bank statement, making financial management easier and more convenient.

No matter daily shopping, restaurant dining, car refueling, travel shopping, you can use Visa debit card to pay, everything is naturally easier. You can also use Visa debit cards to withdraw cash at ATMs around the world. Visa debit cards make the shopping process faster, more convenient and safer, and can be accepted by tens of millions of merchants around the world.

Can the Debit Card of Bank of America Boa Withdraw Cash or Spend Money in China?

I just went to the ATM of China Construction Bank to withdraw money with BOA, and summed up some experience:

First, they do not charge a service fee, which is converted into RMB according to the real-time exchange rate.

Second, I withdrew a thousand yuan, and then I was immediately emailed by declined,BOA telling me to call them to make sure it was stolen. So I called (speaking of which, I’d better open an international roaming when I return to my country. In order to protect you, banks often have to call to confirm all kinds of restrictions. After that, the BOA customer service confirmed it for me, and I can continue to withdraw the money. The limit of swiping card every day is 5000, and you can withdraw 1500 yuan. Lost.

Third, if you need to withdraw a lot of money at once, you may need to use wire transfer. The service charge is 45 dollars each time. However, the limit is that only $1000 can be transferred to domestic banks at a time. If you want to transfer more than 1000 dollars, you need to open safepass. The two options for safepass, are either to connect to an American phone, and each time they transfer money, they will send a CAPTCHA to that mobile phone number. You can enter the CAPTCHA to transfer, or you can apply for a safepass card in the United States and send it to you. Using that card, you can transfer it directly. This method had better be done with the help of American students.

Fourth, you can write a check for your bank in China. Take the check to the bank to cash, this method takes a long time, because they have to confirm the authenticity of the check with BOA.

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Can I Use My Debit Card in China?

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