Multi-bank restrictions on credit card transactions involving housing overdraft credit card purchase failure?

category:Finance
 Multi-bank restrictions on credit card transactions involving housing overdraft credit card purchase failure?


Since August, many banks, such as Agricultural Bank, Construction Bank, Recruitment Bank, Industrial Development Bank, Ping An and Everbright, have issued announcements to strengthen the management of real estate business transactions. Some restrict real estate businesses in an all-round way, and some banks set trading quotas for specific categories of businesses. In these announcements, Beijing Youth Daily reporters found that the restricted categories of real estate-related businesses mainly involved five categories: residential and commercial real estate development (merchant category number 1520), real estate agents-real estate brokers (merchant category number 7013), construction projects (merchant category number 1771), time-sharing villas or vacation houses (merchant category number 7012) and real estate management-property management.uff08 Business category code 6513).

Different banks have different restrictions on these merchants: the first two types are prohibited from trading because they can buy houses; the last type of property management is for everybodys daily payment needs, which can be overdrawn but limited; the middle two types, some banks prohibit, and some banks limit trading.

Tradable merchants accumulate for half a year

The transaction amount shall not exceed 50,000 yuan.

From the specific content of the announcement, Ping An Bank and Everbright Bank are relatively simple and do not list the restrictive details. On August 20, Ping An Bank issued a bulletin saying: In order to implement the relevant policies of real estate regulation and control, according to relevant regulations, our bank sets restrictions on real estate businesses. When you hold our credit card for overdraft consumption by such businesses, it may lead to transaction failure. On September 30, Everbright Banks Credit Card Center announced: According to the requirements of the regulatory authorities, our bank will control the transactions of credit card funds flowing into real estate related fields from October 8, 2019. When you hold our credit card in such businesses, overdraft consumption will lead to transaction failure.

On September 27, the credit card center of China Merchants Bank announced that the banks credit cards could not be traded in three types of real estate merchants (merchants category number 1520, 1771, 7013), and set trading restrictions in property and time-sharing housing merchants (such as merchants category number 6513, 7012, etc.). When customers hold the banks credit cards in these merchant transactions, it may lead to transaction failure.

In contrast, the announcement disclosure information of ABC and CCB is more detailed. Specifically, the credit card of the Agricultural Bank of China shall not be traded in domestic developers and real estate intermediaries (merchants category number 1520, 7013); the single transaction amount of the remaining three categories of real estate merchants (merchants category number 6513, 1771, 7012) shall not exceed 15,000 yuan, the accumulated daily transaction amount shall not exceed 15,000 yuan, and the accumulated monthly transaction amount shall not exceed 50,000 yuan. The cumulative trading amount of RMB shall not exceed 50,000 yuan per quarter, 50,000 yuan per half year and 50,000 yuan per year.

On September 26, CCB issued an announcement that its credit cards should not be traded in three real estate businesses (1520, 1771, 7013) in China. The management and leasing of property in China and other businesses (business category number 6513, 7012) shall be controlled according to customers: the amount of a single transaction shall not exceed 30,000 yuan, the daily cumulative transaction amount shall not exceed 50,000 yuan, the monthly cumulative transaction amount shall not exceed 50,000 yuan, the half-year cumulative transaction amount shall not exceed 50,000 yuan, and the annual cumulative transaction amount shall not exceed 10,000 yuan. Ten thousand yuan.

Experts say regulation is tightening

Prelude to Control Credit Card Risk

Dong E, a senior bank expert, believes that the control of credit card funds inflows into real estate has always existed. The recent tightening of supervision is on the one hand the policy reasons for real estate regulation, on the other hand, the more important is the prelude of credit card risk control in the second half of the year.

Source: Guo Chenqi_NBJ9931, responsible editor of Beijing Youth Daily