Recently, I applied for the Xingye Bank Universe Life Debit Card based on the recommendation of a friend. This card, launched by Xingye Bank, can meet various needs such as foreign exchange investment, overseas travel, studying abroad, cross-border salary settlement, and cross-border payment withdrawals. It also provides various foreign exchange service benefits. I recommend it to those who have such needs.

Advantages of the Universe Life Debit Card

• 50% discount on exchange transaction fees
• Free transaction fees and telecommunication fees for the first 30 cross-border remittances
• Free transaction fees for the first 3 withdrawals from overseas UnionPay ATMs
• Free issuance of deposit certificates/foreign currency carrying certificates

Applying for the Universe Life Debit Card

Application link: https://e.cib.com.cn/app/mobile/public/sendDebit/sendDebit.do?chnlNo=02#

I recommend using a mobile phone to open the application link and fill in the identification information and mailing address. The application process is relatively simple, but please make sure not to fill in the wrong ID information or mailing address, and do not use false information to avoid affecting card issuance and activation.

• I submitted the application on November 9th
• It was sent from Huangshi, Hubei on November 11th. There was no SMS notification before sending, and it was sent by EMS express
• I received the debit card on November 12th

Activating the Universe Life Debit Card

On November 13th, I went to a nearby Xingye Bank branch to activate the card. The staff asked if I had applied online, and I said yes. They asked about the purpose of the card, and I told them it was for daily consumption. They informed me that only a second-class account could be opened, but I requested a first-class account (otherwise, this card would be useless). They asked me to provide:

• Social security certificate (check and take photos on the mini program)
• Property certificate (check and take photos on the mini program)

After providing the above certificates, the staff assisted me in activating the card at the self-service machine. The whole process took about 10 minutes. However, the daily limit was set to 5,000 RMB, and they said that after 3 months, the limit could be increased based on usage and by submitting salary statements for evaluation (this limit is quite strict).

Cross-border Remittance

Compared to other banks, the Universe Life Debit Card offers very friendly exchange rates. After successfully activating the card, I conducted remittances in HKD and cross-border remittance operations. Here are the results of my tests.

Remittance from the Universe Life Debit Card to ZA BANK

• Remitted 1,000 HKD to ZA BANK
• Telegraphic transfer/transaction fee: 0
• Received 900 HKD on the same day. 100 HKD was deducted by the intermediary bank. It took 1 business day.

Remittance from the Universe Life Debit Card to Bank of China (Hong Kong)

• Remitted 1,500 HKD to BOCHK
• Telegraphic transfer/transaction fee: 0
• Received 1,500 HKD on the same day without any intermediary bank charges. It took 1 business day.

Remittance from the Universe Life Debit Card to Ant Bank

• Remitted 1,000 HKD to Ant Bank
• Telegraphic transfer/transaction fee: 0
• Received 900 HKD. 100 HKD was deducted by the intermediary bank.

The test results show that there were no intermediary bank charges when remitting HKD from the Universe Life Debit Card to Bank of China (Hong Kong). However, when remitting to ZA BANK and Ant Bank, both virtual banks, a 100 HKD intermediary bank fee was deducted. You can try remitting to other physical banks in Hong Kong to see if there are any intermediary bank charges.

Conclusion

Applying for the Xingye Bank Universe Life Debit Card is relatively simple, and card issuance is relatively fast. It is suitable for cross-border use. When activating the card at offline branches, you need to provide a series of proofs (property certificate/social security/housing fund/salary statements, etc.). The specific requirements may vary from branch to branch, so please refer to the actual situation. Additionally, the limit is quite strict.

The first 30 cross-border remittances have no transaction fees or telecommunication fees, but there may be intermediary bank charges. In my test, there were no intermediary bank charges when remitting to Bank of China (Hong Kong) (full amount received), but when remitting to ZA BANK, Ant Bank, and other virtual banks, a 100 HKD intermediary bank fee was deducted.

If you have used the Universe Life Debit Card to remit to other banks, please feel free to share your valuable experience in the comments.