Can my social security card be used as a bank card?

Yes, you can. By loading the social security card with a bank magnetic stripe or a chip that meets the PBOC2.0 standard, the social security card will have all the functions of an ordinary bank card, and the payment and distribution of the five social insurance funds of the insured can be realized through the financial functions of the social security card.

At the same time, the insured person can handle all kinds of banking services, such as bank deposit and withdrawal, money transfer, payment of water, electricity and gas bills, investment in wealth management products, buying and selling of foreign exchange, gold, funds, bonds, third-party depository, etc., and can be used in the electronic channels such as UnionPay ATMs, Internet banking, cell phone banking, etc., and at the counter of the banks all over the country.

The social security card has six main functions: electronic voucher function, information record function, self-service query function, medical settlement function, payment and entitlement function, financial payment function.

Expanded Information

The social security card is also a bank card, and it is the first bank card for many rural residents and the majority of urban workers. By the end of last year, 29 provinces and the Xinjiang Production and Construction Corps had issued social security cards with financial functions, with the number of cardholders reaching 842 million, accounting for 86.7 percent of the total number of social security cards issued nationwide.

Among them, 15 provinces, Hebei, Shanxi, Inner Mongolia, Jiangxi, Shandong, Henan, Hunan, Hainan, Chongqing, Guizhou, Shaanxi, Gansu, Qinghai, Ningxia and Xinjiang, have all social security cards loaded with financial functions.

Many people have already felt the convenience. By the end of last year, 489 million social security cards with bank accounts had been activated nationwide, with the bank account activation rate reaching 58.1 percent, including 100 percent in Fujian. To determine whether your social security card has a financial function, you only need to look at the social security card in your hand to see if it has the "UnionPay" logo. If it does, the card has a financial function.

Many places issue all kinds of financial subsidies through social security cards. For example, in Zhongwei, Ningxia, 22 subsidies from the government, such as low income, old age, grassland ecology, animal disease, orphan allowance, low-cost housing, good seed subsidy, agricultural house reconstruction, disability pension, sand pressure subsidy, agricultural machinery subsidy, medical aid, etc., are uniformly issued through social security cards.

Panzhihua, Sichuan Province, has been distributing government subsidies and agriculture-related funds for civil affairs, housing and construction, agriculture and animal husbandry, forestry, poverty alleviation, handicapped associations and housing provident funds through social security cards. Guangdong has piloted the distribution of 12 subsidies for civil affairs and the disabled union through social security cards across the province.

Social security cards are also interfaced with utilities such as water, electricity, gas and heating in some places for the convenience of the public. For example, in Huanggang and Xiantao in Hubei province and Dalian in Liaoning province, residents can pay water, electricity and gas bills with their cards.

Source:Baidu Encyclopedia-Social Security Co-branded Card