In recent years, incidents such as bank card freezes and lowered transfer limits have become increasingly common in China, often sparking complaints among Chinese netizens. Since July this year, multiple banks from Zhejiang, Shandong, Shanxi, Hebei, Liaoning, Guizhou, and other regions have issued notices announcing the reduction of non-face-to-face transaction limits for some customers.
Recently, Ms. Wang posted on social media expressing frustration, stating, “I suddenly realized that my transfer limit has been lowered! I can’t transfer a large amount to my mom anymore…” Many other netizens shared similar experiences of having their limits reduced. The topic of “reduction of transaction limits” has also become a trending topic in recent days.
Some netizens reported that their bank cards they had been using for 20 years had their limits reduced to 5,000 yuan. Others discovered that the daily cumulative limit for non-face-to-face rent payments was only 1,000 yuan, which was insufficient for rent payments. Some netizens noted that the limits successfully curbed their impulse spending, with one person saying, “Just the thought of having to go to the bank branch to raise the limit makes me not want to spend.”
Mr. Su from Shanghai had a similar experience. According to a report by Jiemian News, Mr. Su’s daily transfer limit on his salary card was reduced to 500 yuan without prior notice. When Mr. Su called the bank branch, the staff explained that this measure was taken to ensure the security of funds in the account and to prevent fraud.
Mr. Su expressed his confusion, stating, “I have encountered similar situations with other bank cards before, but most of them were with less frequently used cards. My salary card is used daily, and I am about to repay my mortgage, so I don’t understand why the bank would limit the salary card without informing the customer. What should I do if I need money urgently?” Mr. Su was very puzzled.
Similarly, Ms. Wang from Beijing faced a similar situation. She discovered that her bank account transfer limit had been reduced when she needed to repay a consumer loan, limiting her to a single transfer of 5,000 yuan and a daily limit of 20,000 yuan. She commented, “I have money in my account but can’t transfer it out, almost causing my loan payment to be overdue.”
According to a report by China Securities Journal on the 12th of the month, multiple banks from Zhejiang, Shandong, Shanxi, Hebei, Liaoning, Guizhou, and other regions have announced the reduction of non-face-to-face transaction limits for some customers since July.
Regarding the reasons for the reductions, many banks stated that the adjustments were made to strengthen personal bank account management, reduce the risk of customer fund losses, and comply with the regulatory requirements for implementing classified management of personal bank accounts.
Another report by Securities Daily mentioned that China Bank, Huaxia Bank, Jiangsu Bank, and other banks have adjusted the transaction limits for non-face-to-face channels this year to combat telecommunications network fraud.
Just a month ago, a netizen posted a video claiming that their mother went to a bank in Changchun with a bank card and ID to withdraw less than 100,000 yuan, only to be told that approval from the police station was required. After verification by the police station, the transfer was processed at the bank counter.
Jilin Bank branch staff confirmed the above incident, stating that for withdrawals exceeding 20,000 yuan, branch staff needed to report to the police station as part of the anti-fraud measures. The staff explained that this was mainly to prevent telecommunications fraud.
Recently, difficulties in withdrawing money from branches of various banks in China have sparked dissatisfaction among depositors, leading to incidents of bank branch vandalization.
In January of this year, a woman in Pingdingshan City, Henan Province, complained that when her sister transferred 5,000 yuan to her for Chinese New Year red envelopes, she faced difficulties withdrawing the money at Zhongyuan Bank. This incident went viral on Weibo.
Ms. Wang, the individual involved, mentioned that initially, the bank staff seemed responsible by asking her to download an anti-fraud app, answering questions accordingly. However, the situation escalated to the point where they asked about her sister’s workplace history and insisted on proof of their sibling relationship, even requesting a direct phone call with her sister and reviewing their chat logs before allowing the withdrawal.
After reporting the incident to the police, it took almost two hours to finally withdraw the money.
In another incident reported by Haibao News, a woman in Jiangxi Province shared online that when she took 100,000 yuan in cash to the bank to deposit into a fixed-term account, she was questioned by the bank staff about the origin of the money.
The woman expressed her frustration, questioning why she was being interrogated about the source of her money. She felt it was unnecessary and felt like she was being treated as if the money was illegally obtained. When she inquired about the reasoning for the questioning, the bank staff simply cited it as a bank policy.