According to public information and media reports, some banks are restricting credit card swiping transactions such as buying houses and real estate intermediaries.
At the same time, China Merchants Banks credit card sets trading restrictions for property and time-sharing housing businesses (such as 6513, 7012, etc.). When you hold our credit card in such business transactions, it may lead to transaction failure.
In fact, it is not only China Merchants Bank, but also Agricultural Bank, Construction Bank, Industrial Bank, Everbright Bank, Ping An Bank and other banks have recently issued announcements on the transaction control of credit cards in real estate merchants.
On September 12, Societe Generale Banks credit card announcement, according to regulatory requirements, recently set restrictions on overdraft transactions of its credit card in some categories of merchants. Societe Generale Banks credit card can not be overdrawn in real estate merchants (merchant category number 1520, 7013, 7012, 1771). Set restrictions on overdraft transactions of property merchants (merchant category code is 6513), which may lead to transaction failure when you hold our credit card for overdraft consumption at such merchants.
CCB also made it clear on September 26 that CCB credit cards should not be traded in domestic real estate businesses (business category numbers 1520, 1771, 7013). In addition, CCB also issued a notice that credit cards should not be traded in domestic financial and investment businesses (business category numbers 6012, 6051, 6211).
At present, credit card credit card purchasing commercial housing, or in the real estate intermediary credit card is mostly called off, credit card credit card payment of property fees and time-sharing housing (rental housing) and other limited transactions, a single transaction does not exceed 15,000 or 30,000 yuan.
CITIC Banks Postal Savings Banks funds entering the property market in violation of regulations are subject to administrative penalties
The Banking and Insurance Regulatory Commission has already started.
On October 8, the Zhejiang Supervisory Bureau of the China Banking and Insurance Regulatory Commission (CBRC) released information on administrative penalties for the two banks. Citic Bank Hangzhou Branch and Postal Savings Bank Hangzhou Branch were fined 2.45 million yuan for illegal capital inflows into the real estate market.
According to Article 46 of the Banking Supervision Law of the Peoples Republic of China, the Zhejiang Banking Insurance Regulatory Bureau imposed a fine of 1.95 million yuan on the Hangzhou Branch of CITIC Bank. The date for the decision to impose the penalty is September 26, 2019.
The two banks are punished for illegal entry of funds into real estate, which highlights the current policy direction of no speculation in housing. The regulation of illegal entry of funds into the real estate market is becoming more and more stringent.
Source: Liable Editor of Securities Times Network: Liu Song_NBJ9949