Can I save money in my social security card?

You can deposit money in the social security card.

Financial social security card has the dual attributes of bank card and social security card, and can be used for financial operations such as saving money. Social security cards are divided into two parts: social security accounts such as medical care and pension, and bank card financial accounts. Only the activated social security card with the "UnionPay" logo can handle the deposit and withdrawal business, and I need to bring my ID card to the bank outlet for activation. After activating and setting the password, the social security card can deposit and withdraw money, transfer money, shop, etc. , but can't overdraw. Make sure there is enough balance in the account before using it. The funds in the social security account can only be withdrawn under certain conditions, such as the death of the insured, going abroad to settle down or reaching retirement age but not reaching the payment period.

Functions of social security card:

1. Identification: The social security card contains the personal information of the cardholder and is used to identify the identity of the insured;

2. Medical service: Social security card can be used as a medical certificate in the hospital, and the medical insurance fund can be directly used to pay the expenses;

3. Account inquiry: Cardholders can inquire about the payment and use of personal social security through social security cards;

4. Electronic wallet: Social security cards in some areas have the function of electronic wallet, which can be used for small payments;

5. Financial services: the social security card is associated with the bank account, which can realize financial services such as transfer and cash withdrawal;

6. Social welfare: Social security cards are used to receive social insurance benefits such as pensions and unemployment benefits.

To sum up, financial social security cards have the dual attributes of bank cards and social security cards, and can be used for financial operations such as saving money, but only activated social security cards with the label of "UnionPay" can handle deposit and withdrawal business. After activation, the social security card can be used for deposit and withdrawal, transfer, shopping and consumption, but it cannot be overdrawn. Before using it, you need to ensure that the account has enough balance. The funds in the social security account can only be withdrawn under certain conditions.

Legal basis:

People's Republic of China (PRC) social insurance law

Article 14

Personal accounts shall not be withdrawn in advance, and the bookkeeping interest rate shall not be lower than the bank time deposit interest rate, and interest tax shall be exempted. If an individual dies, the balance of the individual account can be inherited.