UnionPay card and bank card, a word difference, the difference is very big

Apr 21 - 2022

UnionPay card and bank card, a word difference, the difference is very big

There is a difference between the UnionPay card and the bank card adopted by the big guys. In essence, the bank card is the main account,china unionpay international while the UnionPay card is one of its group members.

UnionPay card is a new generation of bank card with multi-purpose, which is offered by China UnionPay organization. It has a strong role in universal liquidity, security and convenience. It allows us to carry out online transactions and settlements beyond financial institutions, and to complete system software interconnection and information sharing among relevant financial institutions, enabling users to buy and sell assets at any of their Internet technology points.

The key role of UnionPay card is to ensure the inter-bank transfer transactions of bank cards and the success of cross-border e-commerce transactions, including cross-border e-commerce, which can complete the whole process of cashless payment, generating great convenience and security. The UnionPay card is a new generation of cards that are available for sale with the UnionPay system software, and is a bank card with technical content. UnionPay cards are classified as a category of the bank card series. As the first bank cards were not yet available for sale with the UnionPay system software, and the initial bank cards were not marked with the word UnionPay, the role of the initial bank cards was also relatively single, so the initial bank cards only carried out the same financial institutions or the same city network of bank card sales and clearing.

The UnionPay card number has its own start data and the credit card number of the UnionPay card issued by China UnionPay starts with "62", while others start with 4 or 5. The biggest benefit of CUP is that it eliminates the need for RMB exchange service fees for overseas applications, which is an advantage that other software does not offer. UnionPay is available for savings cards, debit cards, and credit cards.

What is the difference between debit cards and savings and credit cards in the bank card range?

There is actually no significant difference between debit cards and savings cards, only that the 2 names have different application goals. People go to financial institutions to buy and sell as the user side, mainly have to use its savings for financial purposes, so called its savings card. And as a financial institution for sale side, is the official website of the call it debit card. The role of the debit card is now more common, not limited to withdrawals, transfers, etc., can be carried out in many stores and shopping malls can be directly swiped, but swipe card spending more only transactions in your card account balance. No overdraft transactions are allowed, and this is the substantial difference with credit cards.

Today many people are using credit cards, which have their unique advantages customers are increasing day by day. Credit cards can carry out the role of overdraft transactions, debit cards are only applicable according to the role of ATM immediate transfer or cash withdrawal, but not overdraft, but you can feel free to measure the interest on loans in accordance with your savings. The credit card is also known as credit card, credit card positive and debit card only credit card number is not the same, the cover picture of the credit card also exists the user's name and the actual expiration date, and the credit card number data of the credit card are all significant vertical marks, the reverse side of the signature field is also seven-digit data and anti-counterfeit code mark.

The highest role of credit card is to carry out overdraft transactions, but its credit limit lies in the personal credit record of the card issuer, if the overdraft transactions, do not pay the loan on time will also directly affect the user's personal credit file information. If the credit rating is reduced, such as in the purchase of a house, buy a car loan application for processing is very harmful. And no matter how much your overdraft is, you will eventually need to settle it in full. The actual fact is that you will be able to use your credit card for your daily life, so you must use your credit card for your personal credit first. That way the credit card can be used for you, to you often.

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Is Union Bank available abroad?

If you have an account with Union Bank, you can start an international wire transfer in person at a nearby branch, on the phone, or through Direct Access. However, only domestic wire transactions are supported by internet banking; international wire transfers are not.

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