HANG Seng Bank has expanded its range of RMB services with the launch of its Hang Seng Renminbi (RMB) Credit Card on October 11. The new card offers frequent business and leisure travellers greater convenience in settling expenses and receiving cash advances when travelling in the Chinese mainland.

Mok Wai-kin, the Bank's managing director and general manager, said: "With the signing of CEPA and the growing economic convergence between Hong Kong and the Chinese mainland, the demand for RMB services has been increasing. The Hang Seng RMB Credit Card, together with our RMB deposits, exchange and remittances services launched this February, will provide a broader range of RMB services to our customers."

The card is accepted at over 400,000 point-of-sales terminals in merchant outlets displaying the China UnionPay (CUP) acceptance logo throughout the mainland. Cardholders can also receive cash advances in RMB banknotes from any of the 50,000 mainland ATMs featuring the CUP acceptance logo.

Transactions made with the card will not involve any exchange rate conversions as they are settled and calculated in RMB. Cardholders can repay the outstanding balance via transfer from their Hang Seng RMB deposit account.

The ISOS Hospitalization in the Mainland & Emergency Assistance Service, a special feature of the card, gives added protection to cardholders in cases of hospitalization or other emergencies in China.

(Star News)