Bank of China (Hong Kong), Hong Kong Chinese Enterprises Association (HKCEA)and China UnionPay have jointly launched BOC HKCEA Dual Currency Credit Card. The dual currency co-branded credit card to be issued in Hong Kong displays the China UnionPay logo and uses both RMB and HKD as the settlement currencies and accounts all-in-one.
Reportedly, the card is widely accepted in the mainland of China and overseas, and specially designed for members of HKCEA in Hong Kong who are frequent travellers to the mainland and overseas for business and leisure. Transactions conducted in the mainland of China are posted in RMB, so cardholders can enjoy savings on the exchange rate difference, while transactions conducted in Hong Kong and overseas are posted in HKD. Cardholders can enjoy the handling fee waiver for all transactions and cash advances conducted in the mainland of China and overseas.
The bank has claimed that this card is supported by the member merchants of HKCEA with special privileges. Cardholders are entitled to a 56-day interest-free repayment period and special year-round discounts at over 7,000 designated merchants throughout the mainland of China, Hong Kong and Macau. Additionally, cardholders can also enjoy 1 gift point for every HKD or 2 RMB spent, plus a double gift point reward on their birthday. With only 20,000 gift points, cardholders can redeem a shopping coupon worth HKD100.
This dual currency card comes in Gold or Platinum card and these cards are accepted over merchant outlets that display the UnionPay signage, along with cash advance service at ATMs that bear the UnionPay signage as well as more than 483 ATMs of BOCHK, Nanyang Commercial Bank and Chiyu Bank in Hong Kong for added convenience.
The banking privileges for these cardhoolder include waiver on account -opening wealth balance requirement and first 6-month service fee for i-Free Integrated Account Service, as well as preferential fixed deposit interest rate, exchange rate, securities trading service fees, mortgage plan, safe deposit box fee and banking service charges.
Wang Liaoping, vice chairman and president, the HKCEA, said: The BOC HKCEA Dual Currency Credit Card is launched as a service project provided to the Association’s members by HKCEA together with BOCHK and UnionPay, which aims at promoting the sense of belongings among employees of Chinese enterprises. With a range of privileges offered by BOC Credit Card and Chinese enterprises, we can help bring a win-win situation between employees and their enterprises.”
