Methods of Repayment

The transactions with Kins credit card within China can be repaid in RMB, and those abroad can be repaid in USD or through purchase of foreign exchange with RMB. Your repayment will cover the items in the following order depending on your account situation:
1. Fees (including but not limited to late payment penalties and over-the-credit-limit fees)
2. Interest
3. Cash advance from the previous period
4. Balance due from the previous period
5. Cash advance of the current period
6. Balance due of the current period
 
Note: Please repay in accordance with the above sequence (which may only change in certain special situations) before the repayment due date. If you cannot repay in full, you are advised to make the minimum payment, otherwise your credit record will indicate an “overdue payment”. PBOC has established a national personal credit information system, and each transaction with a credit card and its repayment are recorded in your personal credit record.

Repayment at Outlets
You may repay at our outlets before the repayment due date. In case you appoint a proxy, the identity certificate of the proxy and your credit card number are required.

Repayment via ATMs
You may deposit cash or transfer to repay via our ATMs before the repayment due date.

Repayment via Automatic Transfer
Repayment via automatic transfer may either be repayment in full or repayment of the minimum amount due. Holders of credit principal card can apply for this kind of repayment via our outlets, online banking, or by calling our customer service hotline. After the application is approved, ABC will deduct the corresponding amount from the designated account according to your repayment method within two days before the repayment due date.
Tips:
1. Please make sure the designated account for repayment has sufficient funds two days before the repayment due date. For example, if the repayment due date for the current cycle is October 4, there should be sufficient funds in your designated account for repayment from 24:00 on October 2 to 24:00 on October 4. Otherwise, the deduction and repayment will fail.
2. ABC will send you a short message as to whether the deduction and repayment is successful or not.
3. If your balance due is unpaid for four cycles, or the repayment is unsuccessful for four cycles, we suggest you first pay up your overdue balance and then apply for automatic transfer repayment to avoid unnecessary fees.
4. The designated account for repayment is limited to either an ABC debit card or quasi-credit card for nationwide use that is opened by the holder of the credit card.

Repayment via Telephone Banking
Repayment via telephone banking may be applied by the holder of credit principal card in ABC outlets in the location of the account for repayment. After the application is approved, the card holder can call our customer service hotline at any time for repayment of any amount. ABC will complete deduction within three working days.
For repayment via automatic transfer and via telephone banking, the designated account for repayment can only be ABC debit card or quasi-credit card for nationwide use that is opened by the principal credit card holder. During the deduction period, please make sure the account for repayment has sufficient funds. If the account balance is not enough to cover repayment amount, ABC will not deduct the money. In that event, you must select another method for repayment.
The designated account for repayment via automatic transfer, telephone banking, and online banking is in RMB. The balance due in USD can be converted into RMB amount.

Repayment via Online Banking
You must apply to be a registered customer of our online banking and then register your credit card for repayment via online banking. The procedure is as follows:
(1) If you are not yet registered as an on-line customer, apply to become a registered customer of our online banking system.
(2) As a registered customer, log onto our online banking, enter the interface of “Credit card adding” and register your credit card account and required information (such as card number, holder name, province of the account, etc).
(3) Enter the interface of “Credit card repayment”, select transfer-from account (registered debit card, quasi-credit card, etc.), transfer-to account (your credit card account to be repaid), enter transfer amount and password, and then submit.

USD Balance Due Repayment
If you have a balance due in USD, the statement will show your balance due in USD and in RMB after conversion. The exchange rate shall be the selling price of USD on the statement date or the exchange rate on the previous working day if the statement date is a legal holiday. The repayment methods are as follows:

1. Repayment in USD. You can use USD cash or convert RMB, GBP, EUR, JPY or HKD to USD to repay a USD balance due at our outlets that transact foreign currency business or personal foreign exchange purchase services (Please call the local ABC customer service hotline for location addresses).
If your transactions abroad are not forbidden by state laws, you can also select repayment by purchase of foreign exchange with RMB. But you need to apply for personal foreign exchange purchase at our outlets by presenting your statement. The amount of foreign exchange purchase shall not exceed the statement amount in principle.

2. Repayment via automatic foreign exchange purchase with RMB. Before the repayment due date, you must deposit sufficient funds in RMB (balance due in RMB and balance due in USD after being converted into RMB as indicated in the statement) to your credit card account. ABC will then automatically purchase foreign exchange with the RMB balance in your credit card account to repay your balance due in foreign currency.

Tips
1. ABC automatically activates repayment by automatic purchase of foreign exchange with RMB on your behalf.
2. When you cannot repay in full, the repayment will cover items in the following order of priority:
·minimum payment of balance due in RMB
·minimum payment of balance due in USD
·amount beyond minimum payment of balance due in RMB
·amount beyond minimum payment of balance due in USD
3. If you activate repayment via automatic transfer at the same time, we will purchase foreign exchange with RMB in your designated account for repayment according to the repayment method you selected (i.e., to repay in full or the minimum payment).
(1) The amount to be deducted for repayment in full is the balance due in RMB and the balance due in USD after being converted into RMB as indicated in the statement.
(2) The amount to be deducted for repayment of the minimum payment is minimum payment of the balance due in RMB and the minimum payment of the balance due in USD after being converted into RMB.
(3) On the designated deduction day (i.e., two days before the repayment due date), if the balance on the repayment account is insufficient to pay the designated amount, ABC will not transact deduction. You must then make payment via our outlets or via telephone banking or online banking.