Shulou(Shulou.com)11/24 Report--

CTOnews.com8, March 25. Previously, users who wanted to withdraw cash from their credit cards often had to go to ATM machines or bank counters. Now, users can do this online. Wechat and Alipay recently launched the "credit card withdrawal" function in cooperation with some banks and are currently opening tests to users on a small scale, the Shanghai Securities News reported today.

On invited users' Alipay, users can experience the credit card withdrawal function by clicking "my"-"borrow"-"more quota" or directly searching for "credit card withdrawal". Judging from the information displayed on Alipay's relevant pages, Alipay currently only supports Ningbo Bank, Everbright Bank and Ping an Bank. At the same time, Huaxia Bank, Pudong Development Bank, Citic Bank and other institutions also appear in the list. But the page says, "the service is not yet open, please look forward to it."

At present, Alipay offers two kinds of services: "monthly repayment" and "monthly repayment". A Ping an Bank credit card user with a limit of 90,000 yuan found that the maximum cash withdrawal limit for "monthly repayment" is 35000 yuan, the annualized interest rate is 18.25%, the maximum cash withdrawal limit for "monthly repayment" is 94600, and the annualized interest rate is 17.91%. According to the Alipay agreement, the cash withdrawal amount of "monthly repayment" will be included in the minimum repayment amount of the current credit card bill, while "monthly repayment" will be repaid by installments in accordance with the agreed repayment cycle and amount.

In Wechat, invited users can experience the credit card withdrawal function through the Credit Card Repayment page and the bank official account. In the actual test, users can apply for cash withdrawal after agreeing to the relevant agreement and adding their own collection savings account.

At present, both Wechat and Alipay are exempt from handling fees for their credit card cash withdrawal functions, which are more favorable than the bank's current handling fee of 2.5% for Wechat and Alipay. In addition, funds withdrawn from credit cards can only be withdrawn to their bank cards, which means that banks will control the use of cash withdrawal funds, which is limited to daily consumption, and is forbidden to invest in the stock market, property market and other areas.

CTOnews.com learned that banks' credit card business, in cooperation with Wechat and Alipay, has found new entrances to traffic, coupled with the exemption of cash fees, which is expected to increase the number and activity of bank credit card users in the future.

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