The payment system operation report for the first quarter of 2022 recently released by the People's Bank of China shows that as of the end of the first quarter of 2022, the total amount of outstanding credit cards overdue for six months was 1.092676 billion yuan, a month-on-month

2025/10/2420:54:34 hotcomm 1060

Recently, many banking institutions have issued documents clarifying the strengthening of restrictions on credit card non-consumption transactions.

The recently released payment system operation report for the first quarter of 2022 by the People's Bank of China shows that as of the end of the first quarter of 2022, the total outstanding credit card credit card overdue for six months was 1,092.676 billion yuan, a month-on-month increase of 7.71%, showing that the pressure on credit card overdue has increased. According to China Banking and Insurance News, the income of some credit card holders has been affected recently. Without timely adjustment of spending plans, credit card defaults are often easily caused. Under the pressure of default, some cardholders took desperate risks and turned to "using their cards to maintain their cards" or conducted illegal transactions.

Against this background, many banks have issued announcements to regulate the use of credit card funds.

html On August 8, Agricultural Bank of China issued the "Announcement on Adjusting the Transaction Control of Certain Merchants". In order to ensure the safety of credit card funds and further standardize the use of credit card funds, credit card transactions at certain types of merchants will be controlled in the near future. Agricultural Bank of China credit card cannot be used for transactions at overseas merchants with merchant category codes 6540, 6537, 6536, 9406, 3824, and 7800.

The payment system operation report for the first quarter of 2022 recently released by the People's Bank of China shows that as of the end of the first quarter of 2022, the total amount of outstanding credit cards overdue for six months was 1.092676 billion yuan, a month-on-month - DayDayNews

html On August 4, the Shanghai Bank Credit Card Center issued the "Announcement on Further Clarifying the Use of Credit Card Funds and Overpayment Restrictions" stating that credit card funds shall not be used in non-consumption areas such as house purchase, investment, production and operation. At the same time, in order to prevent credit cards from being used for telecommunications fraud, money laundering and other illegal transactions, Shanghai Banking will restrict the use and transfer of suspicious credit card overpayments (extra funds deposited during credit card repayment or self-owned funds stored in the credit card account).

htmlOn July 18, China Construction Bank also issued a similar announcement, clarifying that credit card funds must not be used in non-consumption areas such as house purchase, investment, production and operation.

html In mid-May, Hebei Bank issued a document to strengthen the control of credit card-related transactions. Credit cards are not allowed to be traded at real estate merchants, and are not allowed to be traded at tobacco delivery merchants. The single transaction amount at cigarette retail merchants must not exceed 10,000 yuan, and the annual cumulative transaction amount must not exceed 100,000 yuan.

China UnionPay issued the "Notice on Further Strengthening the Risk Prevention and Control of Credit Card Business" to acquirers, which put forward a series of requirements for acquirers in terms of preventing credit card cash-out risks. Acquiring institutions must follow the principle of “whose merchant is responsible” and carry out specific responsibilities for cash-out risk prevention and control throughout all aspects of merchant access, transaction monitoring, investigation and verification, and disposal constraints.

Earlier, on July 7, China Banking and Insurance Regulatory Commission and the People's Bank of China issued a "Notice" requiring card-issuing banks, acquirers, clearing agencies and other entities to establish and improve monitoring, analysis and interception mechanisms for abnormal card usage behaviors and illegal fund transactions such as cash-out and fraudulent use, and to take measures in accordance with the law. At the same time, banking financial institutions should take effective measures to promptly and accurately monitor and control the actual use of credit card funds. Credit card funds may not be used to repay loans, enter investment and other fields, and are strictly prohibited from flowing into policy-restricted or prohibited fields.

Xiaoxiang Morning News reporter Li Xinzhi comprehensively reports

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