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What bank card can be used OTC (What bank card can minors apply for)?

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What bank card can be used OTC? How to use the bank card OTC counter, transacti

What bank card can be used OTC (What bank card can minors apply for)?

What bank card can be used OTC? How to use the bank card OTC counter, transaction account, and Yu’ebao functions. So what is the bank card OTC? Let’s first introduce a group of concepts: why can banks use money to issue credit cards (debit cards)? Nowadays, people often hear about electronic currencies or virtual digital currencies (ICO), but these are all encrypted digital assets issued by private companies.

In traditional payment methods, the word “bank” usually refers to the way of transferring or settling funds through the Internet to help financial institutions achieve wealth management goals. However, due to the lack of the need for personal privacy, banks often cannot fully control their own fund flow, ensure fund security, and protect consumer property from fraud risks. Therefore, many companies adopt the method of “bank + blockchain”.

Traditional financial systems usually require banks to provide related technical support, such as identity authentication, information transmission, and other services. However, such bank cards are not suitable for all business scenarios. For example, payment platforms like Alipay only need WeChat to make purchases of virtual currencies such as Bitcoins or various tokens, and even some unofficial third-party platforms can directly access central bank information through mobile apps.

The reason why these bank cards are considered more suitable for ordinary users is mainly because they have strong security and can better meet the needs of most licensed customers, thereby avoiding problems such as loss and theft. (Note: On April 27, China UnionPay issued a notice on “Applying for a Mobile Payment Business License.” The notice stated that the People’s Bank of China, in conjunction with the Shenzhen Central Branch of the People’s Bank of China, will jointly apply for a RMB bank card based on blockchain technology. Starting from June 7, the business of internal transferable pledged deposit certificates of the Industrial and Commercial Bank of China will no longer be sold externally.)

What bank card can minors apply for

According to the “Bank Card Regulations,” China’s laws stipulate that the bank accounts of minors can be opened, frozen, and transferred into designated digital wallet addresses without approval. However, for non-professionals, if it is a minor, they cannot handle corresponding bank card services, such as purchasing virtual currencies through Alipay or using credit cards for payment, or exchanging bitcoins for certain tokens (the specific amount is still unknown), but they also need to meet the conditions within the legal age range. (Sina Finance)

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