New restrictions on transactions with Chinese bank cards may affect those customers who use the card in an unusual way or do not have legal documents

Yesterday and today, in Chinese Wechat groups and social networks, they are discussing the news about limiting the limit on withdrawals from a bank card in one of the branches of the Agricultural Bank of China.


On June 20, a video was circulated on the Chinese Internet in which a bank customer was limited to 1,000 yuan in the withdrawal limit on his bank card at the Agricultural Bank of China. This client asked the bank teller why there was a limit on withdrawals, the teller replied that the bank's security system could automatically set this limit, as there were questions about the existence of a job and a residence permit for this client.


Some netizens pointed out that the incident took place in Guangdong province. Bank employees said that the rules for managing savings provide for the freedom of voluntary withdrawal of deposits, and there is no limit on withdrawing money from the cash desk. The limit of deposits and withdrawals at the checkout refers to the limit of cardless payment, restrictions may not be introduced for all customers, but only for suspicious transactions and suspicious customers.


The bank official also said that not only the Agricultural Bank, but all banks have previously cooperated with public security authorities to combat telecommunications fraud in accordance with the requirements of regulators, and have developed data models to prevent telecommunications fraud.


The transactions of each customer of the bank had to conform to a data model based on the historical transaction habits of that customer's account. The same thing happened to other clients. Bank cards that customers do not use for a long time, then these customers may find that there is a limit limit. But in this case, if the client urgently needs money, he can get it at the bank's cash desk.


The employee also said that similar situations have led to complaints from other customers, but current policy requires that bank card payments meet the needs of settlement payments. At the same time, in order to prevent telecommunications fraud, public security authorities require banks to limit the use of bank cards that have not been used for a long time.


If a restricted client has a real estate or automobile license, they can apply for an increase in the limit. If any customer has a limited amount of a bank card, they can go to the counter to provide the relevant supporting documents in order to apply for limit increases and withdrawals.


If you call the Agricultural Bank of China's help number, you can hear a voice prompt: “In order to protect customers' cards and funds, the Agricultural Bank makes every effort to prevent and control fraud in the telecommunications network. Customers are asked to bring their bank cards and valid identification documents to the nearest bank in order to verify the specific reasons for the restrictions.”


Earlier, in April 2022, banks including the Agricultural Bank of China, Shanghai Development Bank, Everbright Bank of China and other banks released announcements to reduce online business transaction limits for some customers, including personal online banking limits. and mobile banking.