Do social security cards have to save money?

The new social security card can save money like an ordinary bank card. The social security card loaded with financial functions not only has the basic functions of social security card such as information recording, information inquiry and business handling, but also can be used as a bank card with financial functions such as cash deposit and withdrawal, transfer and consumption.

Legal objectivity:

Notice of the People's Bank of Ministry of Human Resources and Social Security and China on Loading Financial Functions on Social Security Cards Article 2 The financial functions of social security cards are mainly realized by loading banking applications on social security cards. Social security card loaded with financial function (hereinafter referred to as social security card with financial function), electronic certificate, the cardholder enjoys the rights of social security and public employment services, and has the basic functions of social security card such as information recording, information inquiry and business handling, and can also be used as a bank card with financial functions such as cash deposit and withdrawal, transfer and consumption. The financial application of the social security card with financial function is RMB debit application, and the credit function is not supported for the time being, and its application scope is limited to People's Republic of China (PRC). The card medium of social security card with financial function is contact chip card, which can be temporarily transitioned in the form of chip and hidden magnetic stripe composite card. The chip should include both human resources and social security applications (hereinafter referred to as social security applications) and financial applications.