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Unionpay annual withdraw limit time frame
Posted: Wed Nov 27, 2019 10:48 am
by shahabh
Hello, I was hoping if someone can clear this up for me. I know that unionpay has an annual withdrawal limit of 100,000 yuan a year but does that mean calendar year (January 1 till December 31)? Or does it mean from the time I got a unionpay card (for example I got a unionpay card in May 2019 so the limit will be from May 2019-May 2020.
Thank you.
Re: Unionpay annual withdraw limit time frame
Posted: Wed Nov 27, 2019 4:02 pm
by mysharona
I must be missing something as I have a Unionpay debit card and I can withdraw 20K/day from my account with no limit to a yearly amount.
Re: Unionpay annual withdraw limit time frame
Posted: Fri Nov 29, 2019 2:44 am
by IE_sciteacher
The 100 000 rmb is for foreign withdrawls outside of China. What I have read and understand is it is calendar year. I do not think China differentiates between calendar and fiscal year like the west does.
Note the 100k rmb is per passport not per card. This was changed a few years ago. Bank transfers do not count towards the 100k. Only atm withdrawls and purchases.
https://www.thatsmags.com/china/post/21 ... bank-cards
Re: Unionpay annual withdraw limit time frame
Posted: Fri Nov 29, 2019 4:31 am
by mysharona
That makes sense as they try to control the flow of cash out of the country.
Response
Posted: Sat Nov 30, 2019 12:00 pm
by PsyGuy
Concur with @IE_sciteacher