Citic Bank closes the all-in-one machine card-free deposit (QR code deposit) function

CTOnews.com January 12 news, Citic Bank recently issued a notice on the closure of deposit and withdrawal machine card-less deposit (QR code deposit) function.

According to the Tuyuan Pexels notice, in order to provide users with safe and convenient financial services, CITIC Bank has turned off the function of card-free deposit (QR code deposit) from January 7, 2023. In the follow-up, users can still hold CITIC bank cards, deposit and withdraw money through CITIC Bank all-in-one machine or go to CITIC Bank's business outlets to handle deposit business.

CTOnews.com learned that since last year, the ATM QR code deposit function of China Construction Bank, Bank of China and Guangdong Development Bank has been turned off, and the ATM machine has been unable to find the QR code deposit function.

Industry insiders analyze that banks have shut down the ATM QR code deposit function mainly to implement regulatory requirements and protect customers' capital security. The response of the Bank of China and other units is to prevent telecom fraud and money laundering risks. For the sake of the security of customers' funds, users must hold a card in order to conduct transactions.