Some questions about the use of ICBC UnionPay abroad (Singapore)

1. After transferring money to an ICBC UnionPay card in China, can I withdraw money immediately at a foreign ATM, or do I need to wait for several hours or days, just like transferring money to a foreign bank card?

Answer: If the bank transfers money to you at the place where the card is issued, it will arrive immediately. If you borrow money from another bank or in a place other than the place where the card was issued, there will be delays. Inter-bank transfers cannot be credited on public holidays.

2. Can I deposit money to a UnionPay card at the Industrial and Commercial Bank of China abroad?

Answer: No. ICBC's overseas branches can only deposit foreign currencies.

3. How much is the handling fee deducted when withdrawing money from an ATM? Will the handling fees for withdrawing money from ATMs with the UnionPay logo in different foreign banks be different?

Answer: Withdrawal fees from ATMs that support UnionPay overseas: Cash withdrawals from cross-border UnionPay network ATMs are charged in RMB (1% of the cash withdrawal amount + 12 yuan), with a minimum of 14 yuan and a maximum of 112 yuan.

4. Will ATMs with the UnionPay logo in foreign countries show that my balance is settled in local currency? If the exchange rate changes every moment, then my balance of the same money will be different at different times?

Answer: No, it displays the balance in RMB, but there will be charges for overseas balance inquiries. Each query costs 4 yuan.

5. ICBC has many types of cards. Will the UnionPay functions and restrictions of each card be different? My ICBC card is the most common Peony Money Link card. Will this happen? UnionPay cannot be used abroad?

Answer: No, as long as it is a bank card with the UnionPay mark, the functions will be the same when used overseas.

6. Before using it, as long as there is a UnionPay logo on the card, I can use it. Or do I need to activate UnionPay (additional functions) to use it in certain countries or use certain functions?

Answer: To use UnionPay cards overseas, you must activate foreign currency business before leaving the country. If you are already overseas, you cannot activate the foreign currency function.