UnionPay business opened             August 2008

Local UnionPay service hotline       To be established

POS payment

Coverage

CUP cards are accepted at merchants with "China UnionPay" logo; as for merchants without such logo, cardholders are encouraged to show the cashier their CUP cards and inquire whether the cards are accepted or not.

Merchant locations

CUP cards are accepted mainly in the capital Ulan Bator, basically covering the airport, department stores, scenic spots, restaurants and hotels and other places most frequented by Chinese people.

Accepted card types

All bankcards marked with UnionPay logo, including dual-currency cards.

A kind reminder: When using dual-currency cards, Card holders are encouraged to request cashier to use China UnionPay networks which may assure many benefits for you. As credit cards tend to set payment limits, in case of large-amount payment, CUP debit cards are recommended, which is only restricted by the account balance.

Related fees and charges

No handling fees are charged upon overseas bankcard payment.

Compared with other bankcard networks, UnionPay network may save 1% to 2% currency conversion fee. China UnionPay converts the amount in local currency into RMB amount, which is then deducted from cardholder's RMB account.

Withdrawal coverage

About half of ATM machines in Mongolia can be used to withdraw local currency (tugrik) with CUP cards; these ATMs are mainly distributed in Khan Bank outlets, department stores, hotels and other major merchants.

Accepted card types

All bankcards marked with UnionPay logo, including dual-currency cards.

A kind reminder: As credit card withdraws incur overdraft interest, CUP debit cards are recommended for overseas withdrawals.

How to identify ATMs that accept CUP cards

UnionPay logo

Chinese language interface

Chinese language interface is under construction. Currently there are Mongolian and English interface available.

Withdrawal operation

Take card first, then take banknotes

Charges and withdrawal limits

According to the limit set by Chinese authorities on CUP cards’ overseas withdrawal: an individual CUP debit card has a daily withdrawal limit of RMB10,000 yuan equivalent, while an individual CUP credit card has a daily withdrawal limit of RMB5,000 yuan equivalent.

Certain handling fee is charged with overseas withdrawals. For detailed rates, numbers of single-day withdrawals, withdrawal limit at a time, cumulative withdrawal limit, etc., please contact the issuing bank.

Compared with other bankcard networks, UnionPay network may save 1% to 2% currency conversion fee. China UnionPay converts the amount in local currency into RMB amount, which is then deducted from cardholder's RMB account.

Supplements to Major Events:

May through July, 2008  

Bank of East Asia (China), Standard Chartered Bank (China), and Citibank (China) issued CUP standard RMB debit cards in succession.

June 23, 2008

China UnionPay and Xinhua News Agency signed a comprehensive cooperation agreement.