Banks are stepping up efforts to clean up bank cards that have not been used for a long time.

Recently, Bank of Communications announced on its official website that from June 28, 2024, it will cancel the Pacific Expo prepaid card that has expired and has no transaction records for many years. This is also the first case this year that a state-owned bank has carried out a special rectification of a single type of bank card.

To ensure the security of user accounts, Bank of Communications will cancel these types of bank cards.

Recently, Bank of Communications publicly stated that in order to protect the security and legitimate rights and interests of users' accounts, and to facilitate customers to reasonably use personal bank account resources, the bank will clean up the Pacific Expo prepaid card in sleeping state.

Specifically, from June 28, 2024, the bank will cancel the Pacific Expo prepaid card that has exceeded the use validity period on December 31, 2011, has not had any consumption transactions for more than 10 consecutive years, and has not handled the card cancellation procedures. After the card is cancelled, it cannot be restored to use, but other normal use of Bank of Communications debit cards under the user's name is not affected.

Bank of Communications also stated that if the Pacific Expo prepaid card still has a balance, customers can carry an undamaged card and their valid ID to the bank branch counter before December 31, 2026 to process the card refund and refund procedures.

This morning, Caixin reporters learned from public reports that the Pacific Expo prepaid card was born around the 2010 Shanghai World Expo. According to public information, the Pacific Expo prepaid card can be used for consumption and inquiries in self-service equipment such as Bank of Communications online banking and multimedia terminals, special merchants at home and abroad with China UnionPay logos (except for purchase, car purchase and public welfare merchants), and the consumption amount is deducted from the prepaid deposit in the card. The card is issued according to face value, with face values of RMB 500, RMB 1000, and non-fixed denominations of 3 types. In addition, real-name registration and transaction password are used for card purchase.

According to media reports at the time, due to the use of UnionPay standards, the Pacific Expo prepaid card can fully leverage the coverage advantage of the UnionPay network, and can also be used on all POS terminals outside the Expo Park with the "UnionPay" logo. At the same time, as the first prepaid card in the country with Haibao, the mascot of the World Expo, as its surface, the card has some commemorative value after the amount on the card is used up.

In addition, Bank of Communications subsequently launched the Pacific Expo non-contact chip prepaid card. The card is deposited first and then consumed. Individuals can choose to purchase it in any amount of RMB hundreds, with a maximum single denomination of no more than RMB 1000 according to their needs.

Recently, many state-owned banks have been continuing their rectification of "sleeping accounts".

This morning, Caixin reporters found that besides rectifying a single type of bank card, many state-owned banks have also been continuing their reminders for "sleeping accounts".

According to several banks, "sleeping accounts" refer to personal bank accounts with a balance and no active transactions for five years or more by September 30, 2023, including: demand deposits or settlement accounts (excluding credit card accounts) that have not had any active transactions for five years or more, and fixed deposit accounts that do not automatically roll over and have not had any active transactions for five years or more since the expiration date.

For example, on June 12, China Construction Bank announced on its official website that in order to protect the legitimate rights and interests of financial consumers, guard their "money bags", protect account and fund security, and help consumers understand their own bank account opening situation, the bank will launch reminder and prompt work for "sleeping accounts". If customers receive the bank's reminder notification, they can query and handle related business for "sleeping accounts" through China Construction Bank mobile banking, online banking or by carrying valid identity documents to any branch of China Construction Bank according to their own bank account opening and usage needs, so as to improve the efficiency of fund utilization.

In addition, on May 15th, ICBC and Agricultural Bank of China both released announcements on their official websites, stating that they will launch reminders for "sleeping accounts". The deadline is October 15th of this year. ICBC and ABC both stated in the announcement that if customers receive relevant reminder notifications, they can query and handle the relevant business for "sleeping accounts" through the mobile banking, online banking, or by going to any branch according to their own bank account opening and usage needs to improve the efficiency of fund utilization. In addition, during the account reminder period, the bank will not require customers to conduct non-counter transfers and other operations involving account funds for any reason, nor will it send network links such as "activate accounts" and "wake up sleeping accounts", so please be aware of preventing telecommunications and network fraud crimes.

It is worth noting that the number of such bank cards is not small, as seen from the results of the rectification of "dormant accounts" published by various regulatory authorities in recent times. For example, the Hebei Banking Regulatory Bureau of the China Banking and Insurance Regulatory Commission announced that as of the end of February, various banking institutions in Hebei have reminded more than 4.7 million dormant accounts and successfully awakened nearly 500,000 accounts; The Anhui Banking Regulatory Bureau of the China Banking and Insurance Regulatory Commission mentioned that a special program has been developed based on the pilot experience for nearly billions of dormant accounts in the province.