An IB Debit Card can be used for consumption and withdrawal outside the Chinese Mainland as long as it bears the markings “UnionPay,” ”American Express,” or “AMEX.” This liberates you from the hassle of carrying cash, enabling you to enjoy shopping beyond the borders of the Chinese Mainland.
·How to use IB debit cards outside the Chinese Mainland?
The use of IB debit cards in countries and regions outside the Chinese Mainland is essentially the same as in the Chinese Mainland, with no need for an additional opening process. A password is still required for POS consumption (a signature on the sales slip is needed) and ATM withdrawals and inquiries.
·What is the scope of using IB debit cards?
Debit cards labeled “UnionPay” can be used for card transactions at merchants marked with the “UnionPay” sign, and cash withdrawal transactions can also be conducted at ATMs with the “UnionPay” sign. American Express debit cards can be used for card transactions at merchants marked with the “American Express” or “AMEX” sign, and cash withdrawal transactions are also available at ATMs with the “American Express” or “AMEX” sign.
Click to see the ATMs available for “UnionPay” debit cards outside the Chinese Mainland.
·Do I have to deposit foreign currencies into my card before consumption outside the Chinese Mainland?
Regarding card consumption based on the local currency amount at a merchant outside the Chinese Mainland and the withdrawal of local currency at an ATM, the transaction amount, converted by IB in accordance with China UnionPay and Express (Hangzhou) Technology Services Company, will be deducted from the RMB demand account of your debit card during settlement.
·Can the deduction be made to the HKD or other foreign currency deposit account if there is an existing HKD or other foreign currency deposit on the debit card?
The amount of your transactions outside the Chinese Mainland will be deducted from the RMB demand account of your debit card, regardless of the existence of an HKD or other foreign currency deposit.
·What are the limitations on the use of debit cards outside the Chinese Mainland?
Transfer and withdrawal through the counter and withdrawal through POS terminals are not currently supported for debit cards outside the Chinese Mainland.
There is no limitation to the number of withdrawals at ATMs outside the Chinese Mainland. However, the accumulated amount of withdrawals is restricted. As stipulated by the State Administration of Foreign Exchange, the accumulated amount shall not exceed the equivalent of 10,000 RMB per card per day, and the total number of cards (including supplementary cards) under the same name shall not exceed the equivalent of 100,000 RMB per calendar year. If the annual limit is exceeded, cash withdrawals outside the Chinese Mainland will be suspended for the current year and the next. As stated by the State Administration of Foreign Exchange, transactions are prohibited at restricted merchants, such as gambling merchants. In addition, the amount of a single transaction at an amount-restricting merchant (such as insurance providers) shall not exceed the equivalent of USD 5,000. The default restriction for consumption outside of the Chinese Mainland, which the cardholder can change, is 1,000,000 RMB per card per day. However, based on the rules of China UnionPay and Amexpress Network, in special areas (Macao, China), the limitation for each transaction is 500,000 RMB, and the total amount shall not exceed 1,000,000 RMB per card per day.
·What should the cardholder do if the card is lost or is retained by an ATM outside the Chinese Mainland?
If the card is lost, the cardholder should immediately contact the IB hotline for outside-Chinese-Mainland service at 86-21-38769999 and apply for an oral report of loss. Subsequently, they should apply for a written report of loss at an IB branch upon returning to the Chinese Mainland.
If the debit card is retained, please take good care of the receipt and note down the phone number on the ATM. Within three days (extended in the case of a holiday) after the day that the card is retained, the cardholder should bring a valid ID (passport, etc.) and other materials verifying card ownership to the IB branch to which the ATM belongs to apply for card retrieval. In case card retrieval fails according to the rules, the card shall be destroyed, and the card holder needs to apply for a new card upon returning to the Chinese Mainland.
*For details on restricted and prohibited merchants, refer to the Notice by the State Administration of Foreign Exchange on the Regulation of Foreign Currency Bank Cards (No.53 [2010] of the State Administration of Foreign Exchange) and the Notice by the State Administration of Foreign Exchange on the Regulation of Large Sum Cash Withdrawal and Transactions Outside the Chinese Mainland (No.29 [2017] of the State Administration of Foreign Exchange).