The calculation method of cash withdrawal fee for credit cards in different banks may be different, and most of them are charged at one time according to the transaction amount of 1%, which can be implemented in accordance with the bank regulations corresponding to credit cards. However, the calculation method of cash withdrawal interest is the same, and it is charged on a daily basis according to five ten thousandths of the transaction amount, from the date of cash withdrawal to the day before the repayment date.
Assuming that 1 October 30th, 65438+ 1, 1000,1is cashed out by credit card, the fees and interest generated are calculated as follows:
1. The handling fee is charged at 1% of the transaction amount, with a minimum of 10 yuan. If it is 1000, the handling fee is 1000 1%= 10 yuan.
2. Interest is charged at 0.5 ‰ per day, with cash withdrawal of 1000 and daily interest of 10000.05%=0.5 yuan. From the date of cash withdrawal to the day before repayment, a * * * is 29 days, and the interest of * * * is 0.529= 14.5 yuan.
The above is a simple calculation. In fact, since the compound interest will be calculated after the bill is paid, the interest may be more than before.
How to calculate the handling fee and interest of credit card overdraft withdrawal? The cost is too high to be worth it.
Friends who have used credit cards should know that credit cards have two functions: overdraft consumption and cash withdrawal. The former has a certain interest-free period because of consumption, while the latter is similar to collecting withdrawal fees and interest. Let's take a look at how to calculate the handling fee and interest of credit card overdraft withdrawal.
1, credit card overdraft withdrawal fee algorithm
Credit card overdraft withdrawal fee is a single payment. According to the different withdrawal areas, there are two kinds of withdrawal fees:
One is the domestic cash withdrawal fee, which is charged according to the cash withdrawal amount of 1%, and the charging unit is RMB;
One is the overseas cash withdrawal fee, which is also charged at 1% of the cash withdrawal amount, and the charging unit is US dollars.
And they are all based on the formula: withdrawal fee = total withdrawal amount × withdrawal fee.
2. Credit card overdraft interest algorithm
The cost of withdrawing cash from credit card overdraft is a lot of interest. From the date of cash withdrawal, it will be charged at the daily interest rate of 0.5 ‰ and compound interest will be calculated monthly. It should be noted that many bank credit card withdrawals require one-time repayment, and the withdrawal amount and interest are included in the minimum repayment amount of the first bill. The calculation formula is = withdrawal amount × five ten thousandths of daily interest × withdrawal days.
For example, if you take 10000 yuan, the interest for one day is 5 yuan, and the interest for one month is 150 yuan, which is very high. Failure to pay off this month will not only affect your credit, but also compound interest next month. Over time, interest will snowball.
The above is the related introduction of "How to calculate the credit card overdraft fee and interest", and I hope it will help everyone. In short, credit card overdraft not only charges, but also charges interest on a daily basis, which is very expensive. Don't use your credit card to overdraw unless you have to. If there is a real cash demand, you may wish to apply for cash installment.
How to calculate the charge for credit card swiping?
Credit card handling fee = handling fee rate of credit card amount. Different industries have different rates ranging from 0.5% to 4%.
Generally, the discount rate of the first type of merchants, including catering, hotels, entertainment, jewelry and gold ornaments, arts and crafts, is 2%-2.5%.
The second type of merchants, including real estate, automobile sales and wholesale, generally have a discount rate of 1%, and can apply for a single-comparison transaction cap.
The general discount rate of the third type of merchants, including gasoline and supermarkets, is 0.5%- 1%.
The fourth type of merchants, including public hospitals and public schools, generally have different discount rates in different regions.
The general discount rate for the fifth category of merchants including general categories is 1%-3%.
It should be noted that the credit card processing fee is charged by the bank to the credit card merchants, and the cardholder does not have to pay.
Extended data:
1. Credit card withdrawal does not enjoy the interest-free period, and interest will be calculated at the daily interest rate of 0.5 ‰ from the date of withdrawal until it is paid off. Taking the repayment after 20 days as an example, when withdrawing 10000 yuan, the interest to be borne is 100000.05% 20 = 100 yuan, that is, the daily 5 yuan interest, and 20 days is 100 yuan.
In addition, there is a handling fee for cash withdrawal by credit card, and the charging standard of the handling fee varies from bank to bank, generally around 1%-3%. Taking the transaction behavior as an example, the withdrawal fee of credit card is 1%, and the withdrawal fee of 10000 yuan is 100 yuan. The total cost is 200 yuan. Everbright and Ping An have higher withdrawal fees, both of which are 2.5%. Then the withdrawal fee of 65,438+00,000 yuan is 250 yuan, which is the total fee of 350 yuan.
It is suggested that cardholders should not use credit cards to withdraw cash easily if there is no special need. Even if there is a demand for cash withdrawal, you should choose some special cards with relatively cheap cash withdrawal fees, such as the Y-POWER credit card of Bank of Communications for RMB cash withdrawal, and the handling fee for each card is RMB 5 yuan. However, repayment should be made as soon as possible after withdrawal.
What is the charging standard for overdraft withdrawal of BOC series credit cards?
China Bank series credit card overdraft withdrawal charges:
1, counter:
(1) excluding China, Hong Kong, Macao and Taiwan: calculated as 1% of the transaction amount, the minimum amount is RMB 10 yuan (or USD 1.5/ JPY 120).
(2) Abroad, Chinese mainland, Hong Kong, Macao and Taiwan: 3% of the cash withdrawal amount, with a minimum of $3.5 /500 yen per transaction. Other expenses arising from cash withdrawal at overseas non-China bank outlets shall be borne by the cardholder.
2. Self-service terminal (ATM):
(1) Domestic (excluding Hong Kong, Macao and Taiwan): The minimum transaction amount of the Bank and its peers is 1%, and the minimum transaction amount of the Bank is 12.
(2) Overseas and China, Hong Kong, Macao and Taiwan (UnionPay network): 1% of the transaction amount, with a minimum of 15 yuan RMB per transaction; The corporate business card is 3% of the transaction amount, with a minimum of 30 yuan RMB per transaction.
(3) Foreign countries and China, Hong Kong, Macao and Taiwan regions (non-UnionPay network): 3% of the transaction amount, with a minimum of 3.5 USD /500 yen per transaction. Other expenses incurred in withdrawing cash from overseas self-service terminals of non-Chinese banks shall be borne by the cardholders themselves.
Tips: overdraft interest is 0.5 ‰ of daily interest, with compound interest on a monthly basis. You can't enjoy interest-free repayment period for overdraft withdrawal. You can call China Bank Credit Card Customer Service Hotline 4006695566 for further consultation. Have a good time with your card!
The above contents are for your reference. Please refer to the actual business regulations.
How much is the handling fee for China Bank's credit card overdraft withdrawal?
The interest-free repayment period is not available for overdraft withdrawal, and the Bank of China charges interest at the rate of 0.5 ‰ per day from the bookkeeping date to the repayment date. There is an extra handling fee. You can check the service price through China Bank official website ()-Convenience Service.
The above contents are for your reference. Please refer to the actual business regulations.
So much for the introduction of credit card overdraft fees.